I think you are quite right in that there is more to being saved than just faith alone. For as Our Lord said, all men shall be judged according to their works.
Please do not think me to hold a position that one is saved only by works, apart from faith, for truly it is impossible to please God without having faith in Him. The position that Scripture holds to , as well as Apostolic tradition is that one is saved by Grace, and faith, thru works.
For man is body and soul and any grace in our soul must necessarily pour out into out acts(works), and because ,by faith we know that virtue and charity is pleasing to God we therefore, will ,that our soul and body acts in love for Jesus Christ. For when one is in a state of sanctifying grace(see catholic encyclopedia) he is united to Christ so that all acts of virtue ,wether they be in thought word or deed,because he is united to Our Lord, he gains merit for eternal glory.Thru Christ, in Christ, and in Christ. This is what has been taught since the beginning and it is only quite new in comparison to the Catholic Church, that one is saved by faith alone, or the belief that the Bible alone is the sole rule of faith for all true Christians, or the belief that once you accept Jesus Christ into your heart as your personal Lord and Savior you are saved ,and that there is nothing you can do to lose your salvation. Where is that in the Bible? This confusion was actuall started by Martin Luther, an excommunatant of the Catholic Church in the 1500s. But fortunately history speaks otherwise. As to Regards concearning The Keys of the Kingdom, again ther seems to be a confusion.
Promises to Peter
When he first saw Simon, "Jesus looked at him, and said, ‘So you are Simon the son of John? You shall be called Cephas (which means Peter)’" (John 1:42). The word Cephas is merely the transliteration of the Aramaic Kepha into Greek. Later, after Peter and the other disciples had been with Christ for some time, they went to Caesarea Philippi, where Peter made his profession of faith: "You are the Christ, the Son of the living God" (Matt. 16:16). Jesus told him that this truth was specially revealed to him, and then he solemnly reiterated: "And I tell you, you are Peter" (Matt. 16:18). To this was added the promise that the Church would be founded, in some way, on Peter (Matt. 16:18).
Then two important things were told the apostle. "Whatever you bind on earth shall be bound in heaven, and whatever you loose on earth shall be loosed in heaven" (Matt. 16:19). Here Peter was singled out for the authority that provides for the forgiveness of sins and the making of disciplinary rules. Later the apostles as a whole would be given similar power [Matt.18:18], but here Peter received it in a special sense.
Peter alone was promised something else also: "I will give you the keys of the kingdom of heaven" (Matt. 16:19). In ancient times, keys were the hallmark of authority. A walled city might have one great gate; and that gate had one great lock, worked by one great key. To be given the key to the city—an honor that exists even today, though its import is lost—meant to be given free access to and authority over the city. The city to which Peter was given the keys was the heavenly city itself. This symbolism for authority is used elsewhere in the Bible (Is. 22:22, Rev. 1:18).
Finally, after the resurrection, Jesus appeared to his disciples and asked Peter three times, "Do you love me?" (John 21:15-17). In repentance for his threefold denial, Peter gave a threefold affirmation of love. Then Christ, the Good Shepherd (John 10:11, 14), gave Peter the authority he earlier had promised: "Feed my sheep" (John 21:17). This specifically included the other apostles, since Jesus asked Peter, "Do you love me more than these?" (John 21:15), the word "these" referring to the other apostles who were present (John 21:2). Thus was completed the prediction made just before Jesus and his followers went for the last time to the Mount of Olives.
Immediately before his denials were predicted, Peter was told, "Simon, Simon, behold, Satan demanded to have you, that he might sift you like wheat, but I have prayed for you that your faith may not fail; and when you have turned again [after the denials], strengthen your brethren" (Luke 22:31-32). It was Peter who Christ prayed would have faith that would not fail and that would be a guide for the others; and his prayer, being perfectly efficacious, was sure to be fulfilled.
Who is the rock?
Now take a closer look at the key verse: "You are Peter, and on this rock I will build my Church" (Matt. 16:18). Disputes about this passage have always been related to the meaning of the term "rock." To whom, or to what, does it refer? Since Simon’s new name of Peter itself means rock, the sentence could be rewritten as: "You are Rock and upon this rock I will build my Church." The play on words seems obvious, but commentators wishing to avoid what follows from this—namely the establishment of the papacy—have suggested that the word rock could not refer to Peter but must refer to his profession of faith or to Christ.
From the grammatical point of view, the phrase "this rock" must relate back to the closest noun. Peter’s profession of faith ("You are the Christ, the Son of the living God") is two verses earlier, while his name, a proper noun, is in the immediately preceding clause.
As an analogy, consider this artificial sentence: "I have a car and a truck, and it is blue." Which is blue? The truck, because that is the noun closest to the pronoun "it." This is all the more clear if the reference to the car is two sentences earlier, as the reference to Peter’s profession is two sentences earlier than the term rock.
Another alternative
The previous argument also settles the question of whether the word refers to Christ himself, since he is mentioned within the profession of faith. The fact that he is elsewhere, by a different metaphor, called the cornerstone (Eph. 2:20, 1 Pet. 2:4-8) does not disprove that here Peter is the foundation. Christ is naturally the principal and, since he will be returning to heaven, the invisible foundation of the Church that he will establish; but Peter is named by him as the secondary and, because he and his successors will remain on earth, the visible foundation. Peter can be a foundation only because Christ is the cornerstone.
In fact, the New Testament contains five different metaphors for the foundation of the Church (Matt. 16:18, 1 Cor. 3:11, Eph. 2:20, 1 Pet. 2:5-6, Rev. 21:14). One cannot take a single metaphor from a single passage and use it to twist the plain meaning of other passages. Rather, one must respect and harmonize the different passages, for the Church can be described as having different foundations since the word foundation can be used in different senses.
Look at the Aramaic
Opponents of the Catholic interpretation of Matthew 16:18 sometimes argue that in the Greek text the name of the apostle is Petros, while "rock" is rendered as petra. They claim that the former refers to a small stone, while the latter refers to a massive rock; so, if Peter was meant to be the massive rock, why isn’t his name Petra?
Note that Christ did not speak to the disciples in Greek. He spoke Aramaic, the common language of Palestine at that time. In that language the word for rock is kepha, which is what Jesus called him in everyday speech (note that in John 1:42 he was told, "You will be called Cephas"). What Jesus said in Matthew 16:18 was: "You are Kepha, and upon this kepha I will build my Church."
When Matthew’s Gospel was translated from the original Aramaic to Greek, there arose a problem which did not confront the evangelist when he first composed his account of Christ’s life. In Aramaic the word kepha has the same ending whether it refers to a rock or is used as a man’s name. In Greek, though, the word for rock, petra, is feminine in gender. The translator could use it for the second appearance of kepha in the sentence, but not for the first because it would be inappropriate to give a man a feminine name. So he put a masculine ending on it, and hence Peter became Petros.
Furthermore, the premise of the argument against Peter being the rock is simply false. In first century Greek the words petros and petra were synonyms. They had previously possessed the meanings of "small stone" and "large rock" in some early Greek poetry, but by the first century this distinction was gone, as Protestant Bible scholars admit (see D. A. Carson’s remarks on this passage in the Expositor’s Bible Commentary, [Grand Rapids: Zondervan Books]).
Some of the effect of Christ’s play on words was lost when his statement was translated from the Aramaic into Greek, but that was the best that could be done in Greek. In English, like Aramaic, there is no problem with endings; so an English rendition could read: "You are Rock, and upon this rock I will build my church."
Consider another point: If the rock really did refer to Christ (as some claim, based on 1 Cor. 10:4, "and the Rock was Christ" though the rock there was a literal, physical rock), why did Matthew leave the passage as it was? In the original Aramaic, and in the English which is a closer parallel to it than is the Greek, the passage is clear enough. Matthew must have realized that his readers would conclude the obvious from "Rock . . . rock."
If he meant Christ to be understood as the rock, why didn’t he say so? Why did he take a chance and leave it up to Paul to write a clarifying text? This presumes, of course, that 1 Corinthians was written after Matthew’s Gospel; if it came first, it could not have been written to clarify it.
The reason, of course, is that Matthew knew full well that what the sentence seemed to say was just what it really was saying. It was Simon, weak as he was, who was chosen to become the rock and thus the first link in the chain of the papacy.