Stay Trustworthy, Keep Good Credit


In their book “He Said It! I Did It!” Charles W. Buffington Jr. and his son, Charles W. Buffington III, take readers on a journey to financial freedom that results in a life of abundance that honors God.

In Lesson 7 of this 10-part series, the Buffingtons encourage readers to stay trustworthy and to keep good credit, which is a measure of how well you repay money. They also note that credit is a measure of your integrity and that it is both biblical and honorable to live up to your commitments. The following takeaways will help you attain and keep good credit in order to achieve your financial goals.

Lesson 7: Stay Trustworthy, Keep Good Credit

1. Credit worthiness is a moral obligation.

2. Being credit worthy will help you reach your financial goals faster.

3. Having bad credit will hurt you financially. Good credit will substantially improve your financial scorecard. (The formula to determine your score is Net Worth = Assets – Debt).

4. Know your credit score, and take decisive action to improve it.

5. Work with your lenders if you are having difficulty making payments. A little communication can save you from being labeled a credit risk.

6. Bankruptcy should be an absolute last resort!

7. Having access to cash enables you to leverage other people’s money to acquire appreciating assets and increase your financial scorecard.

Study these Scriptures to better understand God’s view of these topics:

Trustworthiness in Proverbs 3:1-6: My son, do not forget my teaching, but keep my commands in your heart, for they will prolong your life many years and bring you prosperity. Let love and faithfulness never leave you; bind them around your neck, write them on the table of your heart. Then you will win favor and a good name in the sight of God and man. Trust in the LORD with all your heart and lean not on your own understanding; in all your ways acknowledge him, and he will make your paths straight.

Bankruptcy in Psalm 37:21: The wicked borrow and do not repay, but the righteous give generously.