Is "No Creed but the Bible" Biblical?

"Christians are not divided between those who have creeds and confessions and those who do not; rather, they are divided between those who have public creeds and confessions which are written down and exist as public documents, subject to public scrutiny, evaluation, and critique; and those who have private creeds and confessions which are often improvised, unwritten, and thus not open to public scrutiny, not susceptible to evaluation and, crucially and ironically, not subject to testing by scripture to see whether they are true or not."

This excerpt taken from Carl Truman's The Credal Imparative captures the dilema in non or anti credal affirmations. Such affirmations are intended to gain legitimacy for its stance in accepting no other view but that of Bible. And it is a very impressive stance at face value. However, I think as Truman points out it is very naive. We all have a creed but is our creed formulated on the basis of the church historical governed by God's soveriegn plan? Or is it more individualistic, closed off from scrutiny, mendable and plyable to our own pesonal needs and desires? As it turns out the era of modernity left the church with a host of unbiblical beliefs many of which were defended by the creed "no creed but Christ."