## In a quest to take advantage of enticing sign-up bonuses, many people find themselves holding numerous credit cards. If that includes you, should you close some?

Perhaps you want to avoid the annual fees some of your cards charge, or it’s just too much work to keep up with all the cards, or maybe it feels like a risk to have access to so much credit. Whatever your reason for closing an account, it pays to be intentional about which cards to close and how.

### Could it hurt my credit score?

You may have heard that it’s best to avoid closing a card you’ve held for a long time. “Credit history” is one of the five main factors determining your credit score, so you may be concerned about shortening your history. That’s a valid concern, but probably not to the degree that you assume.

According to Experian, one of the three credit reporting agencies (TransUnion and Equifax are the other two), a long track record of managing credit cards is an important factor in building a strong credit score — especially if that experience is marked by consistency in paying your bills on time.

Credit-scoring models use several “credit age” metrics when tabulating your score, including how long you’ve had your oldest account and the average age of *all* your accounts. However, the two companies that issue credit scores treat closed accounts differently.

FICO (originally Fair Issac Corporation), the originator of credit scores and the company whose scores most lenders use, will continue to access the history of any closed accounts for up to 10 years. So, closing an account shouldn’t impact the history portion of your FICO credit score anytime soon.

VantageScore, a company created by the three credit bureaus, apparently uses a different approach. According to Experian, the VantageScore calculation “might not include some closed accounts in its credit age calculations, depending on your credit profile and the type of account that was closed. As a result, closing the account could lower your average age of all accounts, and may hurt your VantageScore credit scores.” (“*Might* *not* include some closed accounts”? No wonder credit-score tabulation methodologies continue to seem like a mysterious “black box”!)

![](https://dcktxkaneetr8.cloudfront.net/2022/10/fico-score-elements-v1.png)

Another factor to consider here is your “credit utilization” (or “amounts owed,” as shown in the graphic below). This refers to how much available credit you are using at a given point.

The utilization calculation doesn’t take into account whether you pay your balance in full each month (although you should do that!). For this factor, the bureaus simply look at your credit file at some point each month to see how much you have charged on each individual card and on all cards combined. Using less than 30% of your available credit is best for keeping your credit score strong. Even better if you use less than 10%. Closing an account means lowering your total available credit, thus increasing the percentage of utilization.

To keep all of this in context, keep two factors in mind. First, FICO says length of credit history accounts for just 15% of a credit-score calculation. The most important factor is paying your bills on time (“payment history”), which makes up 35% of your score. And second, your credit score is ever-changing. So, even if your score slips slightly after closing an account, it probably won’t stay that way for long. As long as you keep paying your bills on time and keep your credit utilization per card and across all cards to less than 30% of available credit, you should be fine.

### They won’t let you go easily

When you call to close an account, be prepared for a plea to stay! And, in fact, sometimes it can pay to stay with a card a bit longer. That was my experience recently.

I rarely pay attention to credit card pitches, but on a flight earlier this year the flight attendants promoted a card with an unusually high mileage bonus for the airline we use most often. I already have a card that’s co-branded with the airline, but this one was from a different issuer. (Although the flight attendants said a decision needed to be made in-flight, I learned I could take a brochure with me and decide later.)

Soon enough, I opened the new account with the intention of closing my similar account. I called the issuer of the older card, explained I wanted to cancel before the annual fee was due, and was presented with a pitch to stay. They said if I charged another $1,000, I would get 7,500 bonus miles and still could cancel in time to avoid paying the fee. So that’s what I did.

I suppose they hope people will take the offer and never get around to canceling. I took the offer, wrote down exactly when I needed to cancel, and called back after making sure the additional miles had been credited to the account.

This time, they made another offer: a card with no annual fee. But that wasn’t enough of a benefit to keep me as a customer, so I went through with the cancellation.

### Other things to consider

Before closing a card, you’ll have to pay off any remaining balance. Also, it’s wise to use up any available reward points tied to the card. One other thing: Don’t forget to update any bills that are currently auto-paid via the card you’re closing.

*[Image](https://dcktxkaneetr8.cloudfront.net/2022/10/l1-too-much-plastic-HD.jpg) used with permission.*

*[Image](https://dcktxkaneetr8.cloudfront.net/2022/10/fico-score-elements-v1.png) used with permssion. *

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Personal Finance

Many people find themselves holding numerous credit cards. If that includes you, should you close some?

Too Much Plastic: How to Close a Credit Card Account

## Why do you want to buy a house?

God has designed us to live and give generously. So our money decisions matter. And purchasing a house is one of the biggest money decisions you will make.

There are several reasons why you may want to buy a house. Maybe you think that homeownership is just what you should do because, after all, you are a grown-up. Maybe you want a place to call your own, one that places no limitations on the color of your walls. Maybe you are getting married and homeownership seems like a good next step in the relationship. Maybe you think homeownership helps your finances more than renting.

There are many reasons why you may want to own a home. But desiring homeownership doesn’t necessarily mean that you are ready to own a home.

### HOMEOWNERSHIP ISN’T FOR EVERYONE (AND THAT’S OK)

While homeownership may be the right decision for some, it may not be the best move for others. Sure, owning a piece of American soil sounds appealing. But if you rent, let me put your mind at ease, there is a time and place for renting as well. You are not a bad person because you rent.

Consider the often-overlooked costs of homeownership. There are homeowners association fees, taxes, insurance, landscaping costs, and general maintenance that your finances must cover. For renters, your landlord takes care of those expenses. If your hot water heater breaks, you don’t have to pay for its repair or replacement. You just need to call your landlord. He or she takes care of it for you.

Homeownership encompasses much more than just paying a monthly mortgage bill. You simply might not be ready for these costs and responsibilities. And that’s OK.

But I also do not want to discourage you from homeownership.

### THE MOST IMPORTANT REASON TO BUY A HOME

There are several potential motives behind a person’s desire to own a home, but here is the most important reason—homeownership is a long-term strategy to free up future cash flow. And it is for this reason why I do not want to totally discourage you from future homeownership.

What does it mean, “Homeownership is a long-term strategy to free up future cash flow?” It means that you buy a home to, one day, be free of a house payment (you pay off your mortgage) and have more money available for other purposes. This cannot happen with renting.

Too often we consider having a mortgage as part of life. We view mortgage payments just like a water or electric bill—something that will always be there. But that’s not the correct view. Mortgages can and should be paid off.

Take a second, and imagine life without a house payment. For those who desire to live more generously, to use their resources for something greater than themselves, image how a mortgageless life could ramp up your financial generosity. It is a nice thought, right?

This is the most important reason why you would buy a home—to, one day, be without a house payment.

### YOUR GUIDE FOR HOMEOWNERSHIP READINESS

So should you really buy a house? It is an important question. Taking the plunge too early can create some serious financial stress. Consider the following three questions as a guide. If you can answer “yes” to all three questions, you may be ready for homeownership.

__1. Do you plan on living there for at least five years?__ The financial gains of homeownership can be limited if you sell the house too quickly. There are upfront costs to overcome and most of your mortgage payment goes toward interest during the first years. Experiencing any true financial gain from homeownership takes time. So if you are planning on moving within five years, consider renting.

__2. Will your mortgage payments be less than 30 percent of your after-tax pay?__ Avoid being house poor, where all your money goes toward your mortgage payment. Give your finances the flexibility for you to live a life of generosity. If your after-tax pay is $4,000 per month, I recommend that your mortgage payment should not be any greater than $1,200 ($4,000 x .30).

__3. Do you have at least 20 percent for a down payment?__ If your mortgage is more than 80 percent of your home’s value, you could get hit with private mortgage insurance (PMI). PMI is an additional monthly fee lenders charge because you are considered a higher-risk borrower. PMI is to protect the lender not the borrower. Yes, according to the lender, you are a risky borrower.

That’s a thought to ponder. Even if the lender does not require 20 percent to avoid PMI, 20 percent is still a good indicator that you have handled your finances well and are ready to buy a home.

If you can answer “yes” to each of these questions, you are probably ready to buy a house. Buying a home is a big deal. It can be a tremendous blessing or a financial nightmare. So take time and consider whether you are really ready to buy a house or not.

*[Image](https://www.artrainer.com/post/should-you-really-buy-a-house) used with permission*

You were meant for more. Your money was meant for more. You and your money are meant for an exciting, adventurous, and satisfying purpose. You were designed to live and give generously. And deep inside you know this and want this.

Art Rainer

Debt

There are many reasons why you may want to own a home. But desiring homeownership doesn’t mean that you should.

Should You Really Buy a House?

## A couple years ago, when I started to pursue a career in financial coaching, I thought I knew exactly what God had planned for me.

I thought that was the moment He revealed the trajectory of my life. I was excited. I was feeling refreshed, and my eyes were opened. There was no doubt in my mind that I’d just received everything I needed. Funny thing is, I still didn’t have a clue…

See, when I realized I had a passion to help others with their personal finances, I was thankful to discover my purpose. But in my journey to start learning more about money through training and professional courses, God showed me that I’d been wrong about something my entire life.

Nothing I have is mine. I learned this during the first Compass financial discipleship study I’d ever taken. It wasn’t what I’d signed up for, but I’m glad that bit of truth is what I got.

I’d been a believer since I was 7, and that was the first time I learned “my” money and possessions actually belonged to Him.

## So, I made a choice at that point: to be free to serve Him.

When I joined my first financial discipleship study, I had a second mortgage and a home improvement loan, both of which I had no motivation to pay off early. I thought, *Well, I have about 20 years to pay these off or it’ll be somebody else’s problem*. But realizing it’s all God’s was the motivation I needed to pay back what I owed (__Romans 13:7__).

Before taking that study back in 2020, the only reason I ever dreamt of having no debt or job to report to was so that I would have the freedom to do what I want, go where I want, when I want. Now, that is still an option, but the freedom to do what God wants me to do, go where He wants me to go, when He wants me to is so much better… Because I know the reward is greater than anything I could imagine for myself.

It’s the same for you. God gives us the ability to choose (__Joshua 24:15__). And choosing Him is tough. It’s not easy going against what the flesh wants. I don’t get it right 24/7. But every single time I choose to ignore my desires and follow His, I learn that He is faithful.

When we’re about His business, He’ll see that our business is more than taken care of. That’s just who our God is.

__AUTHOR BIO__

Melody is the founder of financial coaching business Centsible Finance LLC, which publishes the free e-letter Making Cents. She earned a bachelor’s in public relations from the University of Florida in 2014, and a master’s in global strategic communications from Florida International University in 2017; but she discovered her passion in personal finance and writing, as well as a closer relationship with the Lord, after joining a Compass—Finances God’s Way study in 2020. She now also volunteers as a financial coach for MoneyWise, serves as a member on the Compass Florida board, is the editor for the Compass blog, and a facilitator and trainer for financial discipleship studies. Melody and her husband, Nate, live in South Florida.

*[Image](https://compass1.org/wp-content/uploads/2022/08/Compass-Blog-Cover-1.png) used with permission.*

Equipping people worldwide to faithfully apply God’s financial principles so they may know Christ more intimately.

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Money Topics

When we’re about His business, He’ll see that our business is more than taken care of. That’s just who our God is.

The Choice is Yours

## A person must be very cautious when cosigning a loan. In most cases, co-signing is probably best avoided altogether. When you cosign a loan, you are held financially responsible for the loan, just as much as the other signer. Late payments will impact your credit score. Their default is your default.

While the Bible doesn't say cosigning is a sin, scripture does encourage us to approach cosigning with wisdom. Here are five verses related to cosigning:

### 1. *My son, if you have put up security for your neighbor, if you have shaken hands in pledge for a stranger, you have been trapped by what you said, ensnared by the words of your mouth.* – Proverbs 6:1-2
### 
### 2. *Whoever puts up security for a stranger will surely suffer, but whoever refuses to shake hands in pledge is safe.* – Proverbs 11:15
### 
### 3. *One who has no sense shakes hands in pledge and puts up security for a neighbor.* – Proverbs 17:18
### 
### 4. *Do not be one who shakes hands in pledge or puts up security for debts; if you lack the means to pay, your very bed will be snatched from under you.* – Proverbs 22:26-27
### 
### 5. *Take the garment of one who puts up security for a stranger; hold it in pledge if it is done for an outsider.* – Proverbs 27:13

([image ](https://www.artrainer.com/post/5-verses-about-co-signing-loans)used with permission)

While the Bible doesn't say cosigning is a sin, scripture does encourage us to approach cosigning with wisdom.

5 Verses About Cosigning Loans

Taking the easy way out can trap us into hopeless debt, especially when it involves car loans. We’ll talk about the auto debt trap today with Howard Dayton today on Money Wise. “Difficult situations and wrong choices conspire to trap us in hopelessness.”— Judah Smith
Howard Dayton is the founder of Compass— Finances God’s Way and the former host of this program. 
<ul><li>In Howard’s book Free and Clear: God’s Roadmap To Debt-Free Living, he has a great chapter called “The Auto Debt Trap.” Most people have to finance their car purchases and find themselves trapped. </li><li>THE AUTO DEBT TRAP</li><li>After home mortgages, car loans are the largest debts most people carry. And most people have ‘em. There's a joke that the only reason banks have drive-in windows is so cars can see their owners. </li><li>Many auto sellers discourage paying by cash because they’ll lose income if you don’t borrow for it through their finance companies. So beware.</li><li>Dayton says debt is one of the biggest roadblocks for most people on their journey to true financial freedom. It’s especially dangerous because most people never get out of it. Just when they get to the point of paying off a car, they trade it in and purchase that newer one with credit.</li><li>WHY WE GET ENSNARED IN THE AUTO DEBT TRAP</li><li>First, car prices always seem to rise faster than inflation, especially these days. New and used car prices are through the roof.</li><li>Second, advertisers have done a masterful job of marketing an expensive image rather than selling a car as affordable, reliable transportation. Their ads promise status and a carefree life … until the first payment is due, of course.</li><li>Finally, the cost of financing has risen significantly. Car loans have longer terms and average monthly payments are now more than $700, making it difficult to get out of the auto debt trap once you’re in.</li><li>HOW TO AVOID OR GET OUT OF THE AUTO DEBT TRAP</li><li>First, decide to keep your car at least three years LONGER than your car loan.</li><li>Second, pay off your car loan as soon as you can.</li><li>Third, after your last payment, keep making the payment, but pay it to yourself. Put those “payments to yourself” into an account that you'll use to buy your next car.</li><li>And fourth, buy your next car with cash. The saved cash plus the trade-in value should be enough to buy a car without credit. It may not be a new car, but you should be able to buy a low-mileage used car without any debt.</li><li>Then, keep making the payments to yourself so you’ll never have to borrow for a car again.</li><li>Learn more about Compass - Finances God’s Way at <a href="http://www.compass1.org">www.compass1.org</a>. </li></ul>On this program, Rob also answers listener questions: 
<ul><li>How should you allocate your investments in terms of stocks vs bonds? </li><li>When should you loan money to a friend or family member? </li></ul>RESOURCES MENTIONED: 
<ul><li><a href="https://www.christiancreditcounselors.org/">Christian Credit Counselors</a> </li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a> where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Biblical Wisdom For Your Financial Journey

MoneyWise

MoneyWise is a daily radio ministry of MoneyWise Media. Hosted by Rob West and Steve Moore, the program offers a practical, biblical and good-natured approach to managing your time, talents and resources.

MoneyWise with Rob West

Evangelical Pastor Judah Smith says “Difficult situations and wrong choices conspire to trap us in hopelessness.” ﻿Put another way, often, taking the easy way out can trap us into hopeless debt especially when it involves car loans.

Escape the Auto Debt Trap With Howard Dayton

Evangelical Pastor <a href="https://www.churchome.org/s/our-leadership">Judah Smith</a> says “Difficult situations and wrong choices conspire to trap us in hopelessness.” Put another way, often, taking the easy way out can trap us into hopeless debt especially when it involves car loans. Rob talks about the auto debt trap with Howard Dayton.Our guest Howard Dayton is the founder of Compass — Finances God’s Way, and the former host of this program. Once a month or so he drops by to share some of the wisdom he’s gained as a financial teacher and author. Rob and Howard cover these topics and questions:<ul><li>In your book Free and Clear: God’s Roadmap To Debt-Free Living, you have a great chapter called “The Auto Debt Trap.” Most people have to finance their car purchases, so why is auto debt a trap?</li><li>Usually, when we find ourselves in a trap, we work to get out of it and learn our lesson. But that doesn’t seem to be the case with auto debt, does it?</li><li>Why do you think so many people fall into this trap, time and time again?</li><li>How do we get out of the auto debt trap, or avoid it in the first place?</li></ul>Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:<ul><li>If your job offers 401(k) for accounts that take out taxes before and after, which should you use?</li><li>If your husband passed away a few months ago and you contacted Social Security to find out what his benefits will be but you'd like to know more than you initially discovered, is there a way to contact them to increase the benefits?</li><li>How do you know how to determine if new car options are good or bad investments?</li><li>How can you transfer an automobile purchase from a personal purchase to under a business and are there financial advantages to doing so?</li><li>If you struggle with credit cards and are thinking of contacting Christian Credit Counseling for assistance, will closing those cards negatively affect your credit score? <a href="https://www.christiancreditcounselors.org/">ChristianCreditCounselors.org</a></li><li>If you've had a car that's turned out to be a lemon, what are your recourses?</li><li>If you're thinking of buying a house, should you consider pulling money out of your 401(k) to handle the down payment?</li><li>If you're aged 60, your wife passed away last year and you've received proceeds from a life insurance policy and her 401(k) and you have no retirement plan offered at your own workplace, what is the best thing to do with these proceeds?</li><li>If you're 37 and have no medical issues, what sort of life insurance policy should you get that might have a savings component?</li></ul>Be sure to check out the rest of MoneyWise.org to connect with a MoneyWise Coach or access our books and our many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.

Listen to MoneyWise Live each weekday at 4pm EST on Moody Radio.

MoneyWise Live

Inflation is bad enough for folks living on a budget with some money to spare, but it’s devastating for those relying on credit cards. We’ll talk about that and the best solution to the problem today with Neile Simon today on MoneyWise.
Neile Simon is a Certified Credit Counselor with Christian Credit Counselors, an underwriter of this program.
<ul><li>GROWING DEBT</li><li>On today’s program, Simon shares troubling data from the Federal Reserve. The Fed just issued a report about credit card debt in the 2nd quarter of this year, and it’s surging as people struggle with inflation.</li><li>Americans took on $46 billion in new credit card debt from April through June, almost a 6% increase from the previous quarter. There was also a 13% jump in new credit card accounts, the biggest increase in over 20 years.</li><li>Why is this happening? The Fed report lays the blame on inflation, which is now running around 9%, and people being unwilling or unable to adjust their budget for higher prices.</li><li>Some 233 million new accounts were opened in the second quarter. We haven’t seen a number that high since 2008.</li><li>One seemingly positive in the report is that it says delinquency rates for credit card debt are still relatively low. However, that really just means the burden of servicing that debt hasn’t caught up to people yet.</li><li>But it will. Total credit card debt jumped $100 billion in the 2nd quarter to reach a whopping $890 billion. And it’s not over. Lending Tree just did a survey in which 43% of respondents said they will likely add to their debt in the next six months.</li><li>THE WAY OUT</li><li>There’s a way out of credit card debt that doesn’t involve bankruptcy that destroys your credit rating — or debt consolidation loans that can get you deeper in debt. That’s where Christian Credit Counselors comes in.</li><li>CCC’s process is debt management, not debt consolidation or debt settlement. When people get on a debt management plan with CCC, they make only one monthly payment.</li><li>Christian Credit Counselors has arrangements with all major credit card issuers to lower interest rates dramatically, which can help clients to pay off credit card debt up to 80% faster than doing it themselves.</li><li>Developing a spending plan (a budget) is an important part of the process. And CCC’s team helps clients to set up a spending plan that works and puts them on a path to break free from debt.</li><li>To learn more, visit <a href="https://www.christiancreditcounselors.org/">ChristianCreditCounselors.org</a> or call 800-557-1985.</li></ul>On this program, Rob also answers listener questions: 
<ul><li>What is a “payable on death” provision for bank accounts?</li><li>Does it make sense to take out a life insurance policy at age 75?</li></ul>Remember, you can call in to ask your questions most days at (800) 525-7000 or email them to <a href="mailto:questions@moneywise.org">Questions@MoneyWise.org</a>. Also, visit our website at <a href="http://moneywise.org/">MoneyWise.org</a> where you can connect with a MoneyWise Coach, join the MoneyWise Community, and even download the free MoneyWise app.

Inflation robs the spending power of your hard-earned dollars and we’re now seeing the consequences. Inflation is bad enough for folks living on a budget with some money to spare but it’s devastating for those relying on credit cards.

The Debt Effect of Inflation With Neile Simon

Inflation robs the spending power of your hard-earned dollars, and we’re now seeing the consequences, Inflation is bad enough for folks living on a budget with some money to spare, but it’s devastating for those relying on credit cards. Rob talks about that and the best solution to the problem today with Neile Simon. This is MoneyWise Live - biblical wisdom for your financial decisions. Our guest is Neile Simon. She’s a Certified Credit Counselor with <a href="https://www.christiancreditcounselors.org">Christian Credit Counselors</a> - an underwriter of this program. Neilee and Rob discuss these topics and questions:<ul><li>You always bring good news about how to get out of debt, but you’re starting out with some bad news today. What’s going on?</li><li>You mentioned a 13% increase in new credit card accounts in the second quarter, just how many is that?</li><li>There’s a way out of credit card debt that doesn’t involve bankruptcy which destroys your credit rating, or debt consolidation loans which can get you deeper in debt. Tell us how you help folks get out of credit card debt.</li><li>What is the impart of debt management on your credit score?</li><li>A lot of folks get into credit card debt because they haven’t been living on a budget. How do you help folks with that so they can manage their money better and make that one payment a month on their debt?</li><li>What about privacy? A lot of folks might be wary of sharing their personal financial information. </li><li>This really is a ministry, isn't it?</li><li>Can you share a story about how you’ve helped someone get out of credit card debt?</li><li>Finally, how can someone get in touch with Christian Credit Counselors? <a href="https://www.christiancreditcounselors.org">Christian Credit Counselors.com</a>, Call 800-557-1985</li></ul>Next, Rob answers these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:<ul><li>If you were laid off during COVID and haven't found another job yet, you're living off your credit cards, your pension and government assistance, you're able to make the minimum payments on your credit cards but you're making no headway, what can you do?</li><li>How does one decide between taking Social Security at the early age opposed to full retirement age?</li><li>If you filed bankruptcy a few years but you have now reached the discharge date where you can purchase your home, you have money saved for a downpayment, your credit score is 760, but now, with rising interest rates, how can you make sure you're not setting yourself up for more financial failure?</li><li>If a friend of yours has a son that would like to apply for scholarships but their income level will preclude him from receiving need-based scholarships, should he target smaller scholarships that go overlooked? <a href="https://www.fastweb.com/">fastweb.com</a>, <a href="https://www.scholarships.com/">scholarships.com</a>, <a href="https://www.niche.com/">niche.com</a></li><li>Does closing a credit accounts affect your credit score?</li><li>If you borrow money from your TSP, does it affect your investment?</li><li>If you have a business, do you tithe on each of your transactions?</li></ul>&lt;&lt;&lt; MoneyWise Market Update with <a href="https://www.crossmarkglobal.com/">Bob Doll</a> &gt;&gt;&gt;<ul><li>The news last week was all about the Federal Reserve Chairman, what did he say that spooked the markets?</li><li>How should we interpret the 2nd part of his statement?</li><li>Have we already started to see any slowing yet on corporate earnings side or with some of the economic data?</li><li>As you look out across the rest of the world, are we seeing the same sort of thing globally?</li><li>For a long-term investor who has the right mix of investments for their age and risk tolerance, what would be your advice?</li><li>There was a reference in Doll's Deliberations about global food shortages, the result of rising natural gas prices, how serious is this?</li></ul>Be sure to check out the rest of MoneyWise.org to connect with a MoneyWise Coach or access our books and our many free helpful resources. You can also find us on Facebook (MoneyWise Media) and join the conversation. Thanks for your prayerful and financial support that helps keep MoneyWise on the air. And if you'd like to help, just click the Donate tab at the top of the page.

With a spiritual framework on God's ownership, Ron Blue gives his perspective on making this financial decision.

The Ron Blue Institute seeks to be a thought leader with great influence committed to changing the way Christians think, act, and communicate about financial stewardship, empowering the church, and changing the world.

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Videos

Which Has Higher Priority--Debt Repayment or Giving?

All credit cards are no created equal. What is the best one? Ron Blue offers his advice.

All credit cards are not created equal. What is the best one? Ron Blue offers his advice.

What is the best kind of credit card?

How do you navigate the myriad of opportunities to get into debt and be biblically wise? Watch this short clip from Compass Finances God's Way to gain some insight.

How do you navigate the myriad of opportunities to get into debt and be biblically wise?

The Nuts and Bolts of Debt and Credit

The local car dealership is offering zero percent interest or some other low rate offer. Is it always a good idea to take advantage of these rates?

Are special dealer lending rates as good as they seem? Ron offers his insight on this popular question.

Too Much Plastic: How to Close a Credit Card Account

Should You Really Buy a House?

The Choice is Yours

5 Verses About Cosigning Loans

Escape the Auto Debt Trap With Howard Dayton

Escape the Auto Debt Trap With Howard Dayton

The Debt Effect of Inflation With Neile Simon

The Debt Effect of Inflation With Neile Simon

Which Has Higher Priority--Debt Repayment or Giving?

What is the best kind of credit card?

The Nuts and Bolts of Debt and Credit

Are all low interest rate auto loans a good idea?

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