FINANCIAL - CREDIT
Scripture Reading - Proverbs 22:26-29 BBE
26 Be not one of those who give their hands in an agreement, or of those who make themselves responsible for debts:
27 If you have nothing with which to make payment, he will take away your bed from under you.
28 Let not the old landmark be moved which your fathers have put in place.
29 Have you seen a man who is expert in his business? he will take his place before kings; his place will not be among low persons.
For years the world’s system has been headed in the direction of more debt. This type of thinking is in the business world as well as the personal finances of many individuals. It seems like around eighty years ago credit cards (specifically revolving credit cards) began to make a steady rise in usage in America. Once the department stores and established businesses found out that they could make more money by charging interest and fees for the benefit of buy now and pay later the push to use credit cards accelerated. In practice using a credit card or having a source for credit isn’t a bad thing. The problem came when greed entered the picture with the company, bank and/or business increasing the interest rate to make more money for more profit. When you couple this with man’s lust of the eyes and the lust of man’s flesh to have it now, it was only a matter of time before the financial trouble (darkness) prevailed. Most people were generally taught to buy (pay for) what you need. If you don’t have enough money on hand or in your checking (or savings) account just keep saving until you do. However, since advertisement appeals to your lust of having everything now via a low payment many people fall prey to the traps (seductions) of the enemy. The business world is not concerned about your financial prosperity, they only desire to increase company profits. Today, they even advertise that borrowing money is a good thing because it can increase your credit score. Of course they fail to mention if you do not pay them on time it will negatively affect your credit rating. These scriptures in the Old Testament book of Proverbs according to the 1965 Bible in Basic English (BBE) version plainly state, “Not to remove (disregard) the old landmarks (physically your property line and spiritually wisdom) of the elders who warn against buying on credit because you could lose your property”. The thought of, “the creditor taking away your bed from under you” implies that they (the creditor) will be heartless (uncompassionate toward your situation). They will have no compassion of you trying to sleep for a night or your family members with you. No, they will take their merchandise the moment you fail to pay. This verse implies that the creditor will not even wait until the next morning. However, even that was better than today because once the bed was gone you had no debt. Today, a lot of credit is unsecured (without collateral) so many are still paying on wasted goods. This worldly practice of buying now with someone else’s money will cost you something more than you purposed to pay. In some cases triple the original price, and in some cases the horrible bondage of owing a debt you cannot pay. This is why we (ihlcc) recommend saving early to prepare for future expenses. Is it possible to live without a credit card in today’s society? The correct answer is, “Yes”. Will it be hard to rent a car without a credit card? Possibly the answer is, “Yes”, again. However, remember the problem is not credit because you could still have a good credit rating if and only if you know how to use credit wisely, without abusing it. Credit should be avoided if possible but on large purchases such as a home we know it cannot be avoided for the average American. So purpose to only use credit for a residential purchase knowing that credit cards are really debt cards that bring temporary satisfaction to a longer lasting problem of bondage and extra cost. Remember, be wise as serpents (the world’s system) but harmless as a dove (God’s Spirit) by practicing the Word of God to avoid credit purchases to the betterment of yourself and your family. Amen!