1.  The Bible does not prohibit the use of credit.  “The Bible does not forbid buying on credit, but it warns against it.  Most Christian financial counselors advise people to use credit only for items that rise in value, such as houses and businesses.  Items that drop in value, such as refrigerators, cars, etc. should be bought with cash.” (The Compact Guide to the Christian Life, p. 208)

2.  The Bible cautions borrowers:

- Borrowing should be limited.  Freedom from debt is the superior position.  Proverbs 22:7

- Must have an asset to cover the debt.

- Seek other means rather than credit (pray, save, defer, do without, rent borrow, practice self-control)

- Don’t use credit as an everyday occurrence (if you don’t have the money the Lord may be saying don’t buy it)

- Perpetual debt is not a good testimony.

- If indebted we must pay our debt.  Psalm 37:21

3.  The Bible cautions against co-signing (especially on high-interest loans) Proverbs 6:1-3; 11:15; 17:18; 22:26-27