Credit Card with Positive Balance throwing off my account
Help! My one credit card has a positive balance of $180 (from a return). Total charges for this month are $550. Credit card balance is $350 (I'm ball parking amounts here).
the challenge is: my credit card isn't showing the overage of $180. It's simply saying my payment is $350 and I cannot find the extra $180 (not a small lump sum!)
Help! Where could it be? Where can I look?
You say the credit card has a positive balance of $180 but you also say it has a balance of $350. Which is it?
Do you mean the payment category has $350 in it?
If the CC balance is positive ($0 or greater), then the CC payment category can be adjusted to zero, because you do not owe any money on the card. You can redeploy that money anywhere in the budget that you wish.
The balance was +180 but I had two transactions coming through for a total of $550. So prior to this there was not $180 in payment category but zero, but the balance of my card was a positive +180.
When the 550 in transactions go through, my new CC balance is $350 (again, ballpark totals) but my totals in the 2 categories making up the 550 are also zero. Where is the extra $?
Hi, Irene! Note that the balance of your credit card on the left is different than your Credit Card Payment category in your budget. The balance on the left is the total on your card. The Credit Card Payment category is the amount budgeted to pay the card during this month.
When you have a positive balance on a credit card, YNAB treats that credit card like a checking account--because it has cash (not debt) available to spend. That means YNAB will stop sending budgeted spending money to your Credit Card Payment category until you've spent more than the positive balance and again have debt on the card.
So, because of this, it sounds like it's appropriate to have ~$350 in your Credit Card Payment category. This is because your credit card balance was a positive ~$180, then you spent ~$550. That leaves a balance of ~$350 in budgeted spending that you'll need to send as a payment to the card.
Your credit card balance should be ~$350, as well, and the positive ~$180 return should be factored into the new balance, as I described above. 👍
Let me know how this lands with you. If I missed some details or if clarification would be helpful, just let me know!