The following chart presents the basic timeline of premillennial views regarding the events of the last days.
What crucial difference is there between the seven dispensations as taught by the dispensationalists and the four forms of revelation of God's Covenant of Grace as taught by the Reformed churches?
A different form of premillennial thought called dispensationalism has become popular in recent years, especially by means of the Scofield Bible. The Scofield Bible presents Bible history as taking place under seven different time periods or dispensations. In each dispensation, God presents a different plan and way of salvation for man after man rejected the previous one. This aspect of dispensationalism presents a serious distortion of Scripture and of God's way of salvation. Sinners have been and are only saved by faith in Jesus Christ from Adam and Eve, who received the first gospel promise in Genesis 3:15, through the last one who will be saved. God did not change the way of salvation for men seven times.
The seven dispensations of the dispensationalists are presented in the chart below: