Feature Idea - Credit Card Limit
Idea: A field for credit card limit where you can quickly see what percentage of credit you are using per card. This can be a field where the user puts in their amount and YNAB can subtract their charges from their credit limit to determine their use.
Using YNAB has been effective at giving me visibility to where dollars are flowing. During my consistent use I have kept track of what information I have to reference outside of YNAB to see if a gap can be filled. Credit is important and though we can keep track of our credit card expenses we also need to keep track of our usage rates to make sure we are not consistently hanging around our limits
Learn more about usage and how it effects your credit here https://www.nerdwallet.com/blog/finance/how-is-credit-utilization-ratio-calculated/
Hi Ivory Nomad !
That idea was brought up in this thread: https://support.youneedabudget.com/t/63p7q1/available-credit
While we understand credit cards can be a useful tool, we want to focus more on paying them off rather than the amounts available to spend. You can include your credit limits in the account name or as a note if you'd like to personally track that information. :)Reply
Faness thank you for the quick response.
The reason for YNAB is financial visibility and more importantly the training of how to handle money, a powerful tool in society. If paying them off is a focus, the program should also focus on point and time of knowing where you are. It allows YNAB to address the issue at an earlier stage.
Thanks again for your feedbackReply
If you're using YNAB to use your cards, and you're running close to your limits, raise your limits to a point you don't have to worry about hitting the limit, and eventually, raise it to a point you don't have to worry about the ratio. Since you're basing your CC spending in cash, you don't have to worry about what the limit is.Reply
I support this idea -- we always have to ensure we can use a particular method of payment. When choosing to pay with cash, the account balance (provided in YNAB) must exceed the purchase amount. If choosing to pay with credit, the available credit (limit - balance) must exceed the purchase amount, but that quantity is NOT shown anywhere.
The fact is there are users with relatively low credit limits that have to worry about this, and a trivial addition to the GUI would be helpful to them.Reply