With the current economic slump affecting many Americans, the debate on credit cards has reached a crescendo. On the one hand, now – more than ever – people are dependent on credit to get by. On the other hand, a strong argument can be made against acquiring debt in a perilous economic period.
Media reports indicate a strong uptick in debit card use, and a decline in credit card use.
I’m no financial advisor, so I’ll let the experts guide you on what’s best for your finances.
But the issue deserves attention at least in theory. Would a bank offer you credit if there was no money to be made? That would be a great mitzvah, but a poor business decision.
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In this week’s parsha Shemot we read about Hashem choosing Moshe to deliver the Jewish people from Egyptian bondage. In his dialogue with G-d at the burning bush, Moshe questioned whether the Jewish people really merited redemption. According to Rashi, G-d’s response is encoded in the words, “When you take the people out of Egypt, you will worship God on this mountain.” G-d agreed with Moshe that they were currently undeserving, but He argues, “I have a great thing dependent on this Exodus, for at the end of three months from their Exodus from Egypt they are destined to receive the Torah on this mountain.”
In other words, G-d liberated the Jews from slavery not because of what they had already done, but on account of what they would do in the future. G-d issued a spiritual credit card to the Jewish people.
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In life we are often wondering what G-d owes us. Perhaps we also need to ask ourselves what we owe G-d.