The spiritual gift of faith is found in the list of the gifts of the Spirit in 1 Corinthians 12. Verse 9 says that some people are given the gift of faith, but the gift is not specifically explained. All believers have been given saving faith by God as the only means of salvation (Ephesians 2:8–9), but not all believers are given the spiritual gift of faith. Like all the gifts of the Holy Spirit, the spiritual gift of faith was given for the “common good” which means the edifying of the body of Christ (1 Corinthians 12:7).
The gift of faith may be defined as the special gift whereby the Spirit provides Christians with extraordinary confidence in God’s promises, power, and presence so they can take heroic stands for the future of God’s work in the church. The spiritual gift of faith is exhibited by one with a strong and unshakeable confidence in God, His Word, and His promises. Examples of people with the gift of faith are those listed in Hebrews chapter 11. This chapter, often called “the hall of faith,” describes those whose faith was extraordinary, enabling them to do extraordinary, superhuman things. Here we see Noah spending 120 years building a huge boat when, up to that time, rain was non-existent and Abraham believing he would father a child when his natural ability to do so had ended. Without the special anointing of faith as a gift from God, such things would have been impossible.
As with all spiritual gifts, the gift of faith is given to some Christians who then use it to edify others in the body of Christ. Those with the gift of faith are an inspiration to their fellow believers, exhibiting a simple confidence in God that shows in all they say and do. Extraordinarily faithful people show a humble godliness and reliance on God’s promises, often so much so that they are known to be quietly fearless and zealous. They are so convinced that all obstacles to the gospel and to God’s purposes will be overcome and so confident that God will secure the advancement of His cause, that they will often do infinitely more in the promotion of His kingdom than the most talented and erudite preachers and teachers.
So to sum it up, God gives all Christians saving faith. The spiritual gift of faith is given to some, who exhibit extraordinary amounts of faith in their Christian walk and who, by their faith, are a joy and an encouragement to others.
 Got Questions Ministries. (2010). Got Questions? Bible Questions Answered. Bellingham, WA: Logos Bible Software.