Ernst Troeltsch and Heikki Räisänen have raised significant challenges to the way New Testament theology handles the relation of history and theology. Troeltsch pushed Christian scholars to apply the historical method's three principles of criticism, analogy and correlation consistently to their work and thus embrace empiricism. Räisänen continues this trajectory by splitting New Testament theology into its descriptive and reflective tasks, resulting in a programme which questions the unity of the canon, the appropriateness of prescription and the role of church authority in New Testament theology. With these challenges in mind, this article examines four recent New Testament theologies to see how they use the historical method. It finds that these works exhibit different ad hoc ways of using the historical method, picking it up and setting it down at will. Peter Balla accepts New Testament theology as descriptive and historical while claiming it can also be theological by studying the content in the New Testament. Despite this embrace of the historical method, Balla remains uncomfortable with bare empiricism and pushes back on its naturalism. Georg Strecker splits the world into two: one part which can be investigated by the historical method and another part which lies outside its normal subject matter. The result is that he uses the historical method everywhere except where his main theological concern lies – Jesus’ resurrection. I. Howard Marshall similarly holds the historical method to be necessary for New Testament theology but largely ignores it in light of narrative-theological concerns. Frank Matera takes a purposefully literary approach to New Testament theology and generally ignores the historical method. He does invoke it, however, when the text becomes difficult and alternative readings must be found. The methodological inconsistency demonstrated by these New Testament theologies leads the article to conclude that this type of historical New Testament theology is a failed enterprise. A theological understanding of history based on work by Murray Rae is then proposed as an alternative which allows for methodological consistency in synthetic work on the New Testament.