Among some Christian circles today, especially Calvinists and dispensationalists, a more superficial understanding of theology persists, and the tendency to think that:

anyone who is not “dispensational” adheres to covenant theology

anyone who holds to amillennialism believes Covenant theology, and vice versa, AND

covenant theology equals “church replacement theology” (amillennial/preterist ideas)

Accordingly, some will use the terms “Calvinist” and “Reformed” interchangeably, though in discussion it becomes clear that what is actually meant is Calvinist soteriology aka the “doctrines of grace.” Yet as I’ve recently come to understand more clearly, 5-point baptistic Calvinism, as popularly seen in the “Sovereign Grace” movement characterized by smaller, non-denominational churches with informal affiliation — and often associated with amillennial or postmillennial eschatology — is but one component of what is included within overall “Reformed/Covenant Theology.” Covenant Theology aka Reformed Theology includes not only Calvinist soteriology, but also understanding and adherence to the 16th and 17th century Reformed confessions. The confessions include the teaching of the theological covenants (covenant of works, covenant of grace, and covenant of redemption), and understanding of the Old Testament law as having three parts (moral, civil, ceremonial) and a “third use” of the law (the moral law, the ten commandments), as a guide in sanctification (not salvation) for the believer.

Here I observe that some churches that affirm the “Doctrines of Grace” aka Calvinism and reference the term “sovereign grace,” may also hold to covenant theology. But more often they actually hold to a “dispensational” understanding of the law, particularly with NCT, New Covenant Theology (which has developed within the last 30 years, about as old as progressive dispensationalism, both of which are more recent than classic or even revised dispensationalism). To add to the name confusion, some churches with “Reformed Baptist” in their name actually teach NCT instead of Reformed Baptist theology. The difference shows up while visiting church websites, that some reformed churches will specifically state their adherence to the 1689 London Baptist Confession (or another of the 17th century confessions, such as the 1644 Baptist one or, for paedo-baptists, the Westminster Confession); some of these will state qualified agreement “generally” or “in large part” while others state full agreement; whereas NCT “Sovereign Grace” churches usually will not explicitly mention their “NCT” belief (which is not one single, confessional belief and likely includes several variations). With specific churches (as true for all doctrinal views) one must look carefully at the stated versus actual beliefs; in recent church-site searching I came across a few church websites stating agreement with the 1689 London Baptist confession but with sermon content of traditional dispensationalism. Further: though NCT “Sovereign Grace” churches are also predominantly amillennial/ postmillennial, a few are historic premillennial (for instance Fred Zaspel and a few others), and a few that self-describe as “Sovereign Grace” are of the Calvinist-Dispensational variety.

Another important point regarding Covenant Theology and millennial views: though many who hold to “Covenant Theology” also are amillennial or postmillennial – with variations among themselves on the futurist-idealist-preterist line, CT itself does not at all require an anti-premillennial view, or even an anti-future Israel view. Though the true history has been largely forgotten by many of today’s CT advocates… ironically enough, as noted in Nathaniel West’s “History of the Premillennial Doctrine” and in my recent “Premillennialism in Church History” series, many if not most of the Westminster Divines were in fact premillennial: a truth that returned soon after the Reformation and held sway throughout the early Protestant years. Many great theologians of the CT tradition, down through the 18th and 19th centuries, were premillennial, and many of these also affirmed a literal future for regathered ethnic, national Israel.

Covenant theologians (such as Horatius Bonar, also J.C. Ryle and Charles Spurgeon) can well articulate BOTH the tenets of covenant theology and the reformed view of the law (see Horatius Bonar’s God’s Way of Holiness, especially chapter 6), AND affirm historic/classic premillennialism, including future restoration of ethnic, national Israel.

Here I note an example of modern-day CT writing which conflates teaching on the Reformed/Covenantal view of the Law, with eschatology and Israel, in this passing statement near the end of this otherwise helpful article about the third use of the law; but such is the author’s own confusion. The article’s statement – This is one eternally important reason why Israel received the Law in the Mosaic Covenant, with the associated typological promise of blessing and cursing. Christ, the antitype of Israel, takes the antitypical curse for the Covenant people and fulfills the righteous requirement of the Law to give them the antitypical (eternal) blessings by faith in Him. – actually has nothing to do with covenant theology itself, and only shows the author’s own confusion and mixing of unrelated issues with excessive spiritualizing. Perhaps, too, this statement could be taken as an illustration or analogy, yet the primary truth and primary meaning (of literal Israel still experiencing literal curses in this age, to be followed by literal blessings in the future) still remains.

To conclude, a selection from Covenant premillennialist Horatius Bonar:

It seems often taken for granted that those who assert the literal interpretation of the blessings promised to Israel, thereby exclude the spiritual. They do not. They assert the literal blessing, because they believe that God has promised it; but they maintain the superiority and necessity of the spiritual as firmly as do the others. They believe that Israel will be converted, and they rejoice in this as the glorious issue towards which the prophets point. But they believe more; they believe not only that they will be converted, but they will be restored to their own land. But does their literal restoration take from them one single spiritual blessing? Or does it prevent the Gentile nations from enjoying one of those innumerable blessings which are given to them for an inheritance?