Christianity spans over 2000 years, making credit cards a relatively new issue for Christians to deal with. Obviously there is no biblical advice geared directly to credit cards but nevertheless a whole industry has been spawned giving Christian financial advice. Big name players such as Dave Ramsay and Crown Financial Ministries are joined by names such as Paying Paul and Christian Credit Card Debt Solutions.
Considering the amount of total household debt across the U.S. it would appear that with the sheer size of the Christian advice business that Christians seem particularly in need of assistance in handling debts they have incurred through financial mismanagement. Dave Ramsey claims to have helped more than a million people and takes the absolute view that consumers are incapable of handling credit cards.
As with any other sector of society there are those who are financially responsible enough to handle credit cards, and those who aren’t. It has little to do with religious leanings but financial education. Many Christian advisors portray credit cards as nothing short of evil, failing to acknowledge that in the modern world the importance of a good credit score can be paramount in many areas of life, and can be acquired through responsible credit card usage.
Stressing the negative aspects of any form of debt can hamper individuals who are reliant upon establishing credit in order to secure a rental, a mortgage, a job, or preferential insurance premiums. Whilst the notion of living debt free is ideal it is hardly realistic for those who want to have a home, an education, or start a business.
According to their literature Christian credit card debt solutions “provide a much-needed help to the society. They teach people how to live a debt free life. They educate the masses on how to manage their finances and also spiritually awaken them so that they do not follow the mad rush of materialism. They help people to get out of the debt and lead a happy and stress free life.” The very wording can be interpreted as demeaning. One thing which these Christian advisors share in common is a fee for their services. One of the concepts that Christian advisors push is the importance of tithes, encouraging individuals to give to the Christian church.
It is not necessary for religion to influence financial decisions. Applying for a credit card should be an informed decision based on the benefits to the individual and their personal ability to make informed choices, not a blanket disapproval of the evils of credit. If an individual can use credit cards responsibly there is no need to rack up debt or high interest rate charges, but instead establish a credit rating and benefit from cash back offers, purchase protection and insurance benefits which cards afford.
Affinity credit cards can be chosen which make a charitable contribution based on the card usage, and Christians can choose to deal with financial institutions that make ethical business investments. Christian financial advisors who dismiss all credit card usage are ultimately insulting the intelligence of those they attempt to influence.