Need help with credit cards
I am having trouble figuring out why my "record payment" amount on the accounts page and the "available payment" amount on the budget page are above my current card balance (shown on the left column under "budget" and on my CCs website).
I always pay the statement balance on the bill from my CC and never user the "record payment" button in YNAB since that amount is never correct.
Over the past 8 months or so the "available payment" amount has consistently been more than my statement balance and I now have around $500 more than my current balance due on my CC.
Is there something I am fundamentally doing wrong that can be corrected to keep these two numbers ( "available payment" amount & current balance) more inline over the months?
Should I just move the extra money to TTB each month?
One thing to remember is that the available for payment amount is independent of the statement balance. It will include items that are not yet on your statement and that is why you will have more money in your available than you are going to pay.
The most important piece is to ensure that your CC account balance and the payment available are equal and opposite of each other at all times. That will show that you are a paid in full credit card user because you *could* pay off your credit card at anytime if it was necessary. In other words, your credit card purchases are backed by cash.
There are a few reasons that your card balance will differ. Cash back, refunds etc. Search the forum for those types of issues. Once you figure out why you are out of balance, work towards getting the account and payment available to match with the opposite signs. In your case, if the actual balance of the Discover CC is -$101.48, then your payment available should be $101.48.
Hi! If you'd like, you can reach out to us in Support. We can talk a look at your budget and suggest easy processes to ensure your Credit Card Payment category consistently matches your credit card balance. If you're interested, you can contact us right from your budget. :)