Faith and fear: they are not always on opposite ends of the spectrum. Sometimes they work together and in cases involving our relationship with God, they are essential. God looks for individuals who fear and trust him.
Oh how great is thy goodness, which thou hast laid up for them that fear thee; which thou hast wrought for them that trust in thee before the sons of men! (Psalms 31:19)
There is a difference between being terrified by God and fearing him. As believers, God does not want us to be terrified of him. Through scripture, he conveys himself as a loving father. A loving father and someone of whom people should be terrified are contrastive characters. In other words, you will never see a loving father who has children who are terrified of him. God does not want us to be terrified of him, but he does want us to fear him. There is a big difference.
I may fear a police officer, but I am not terrified of him. I may fear a judge, but he does not terrify me. I fear fire, but I am not terrified by it. The difference is that fear causes negative emotions based on what it has the power to do if I fail to respect it. Being terrified occurs when a person without cause expects an impending doom to come upon them. God does not want us living under an expected doom, but he does want us to emotionally respond to his leading in our lives.
When we trust in God, we run to him as a refuge from the struggles and troubles of life. This pleases him because he wants to be our refuge, strength and deliver. Each time we run to him, we exercise faith in him and his ability to meet our needs. This pleases God.
When we fear and trust God, he responds to it. He promises to respond to us in goodness, which is to give us what is the very best for our lives. He wants this for everyone, but reserves it only for those who fear and trust him. This is something each of us can do and because of it, we can expect great things from God.