Applying every effort: see 2 Pet 1:10, 15; 2 Pet 3:14. Since God has done everything for you, in order to give you all blessings for life and piety, you also, on your part, must use every effort to make fitting use of all that has been given to you.
Show, and so forth: in exhorting them, the apostle shows believers the lofty ladder of virtues by which the believer must ascend in order to attain perfection. He begins with faith, which constitutes the beginning and foundation of this ladder of virtues.
He ends with love, which constitutes the bond of perfection; cf. Rom 13:10.
In faith, virtue: faith, both as a spiritual disposition and as a practical virtue, is the foundation and root of all virtues. As blessed Augustine says, Faith is the mother and root of all virtues.
Here faith is indicated as a gift of God, a gift of grace (Jn 6:29; Eph 2:8).
Virtue: a courageous, firm, and resolute manner of action against all the enemies of our salvation, for the strengthening of all good works. It corresponds to the power of God, which energetically turns away every evil (verse 4).
Among the beautiful fruits on the beautiful tree of faith, this is the best fruit; cf. Phil 4:8.
Discernment: more precisely, though more generally, knowledge. This is a rational and discerning manner of action and thought, by which one quickly judges what is useful and harmful, good and evil, what must be done and what avoided.
This same knowledge, or discernment, protects from irrational zeal and from every excess in thought, action, and life. It is wisdom. It is the eye of all the virtues.
Without this eye, virtue can be blind and can fall into error. This knowledge, discernment, and wisdom is like the guiding thread of the virtues.
It guides and moderates every virtue, so that the one governed by it does neither too little nor too much. He goes neither to the right nor to the left, but by the straight path. He goes directly toward the goal and does not wander.