Credit card positive balance
Hi! I have a $338 credit on my Capital One card and would like to use that for groceries this month. But when I enter a "test" expense, I see my amount budgeted for groceries go down. I'm going to end up in the red on that category even though I have the $$ on my CC. How do I deal with a credit card positive balance?
I've been searching the forum and find many similar questions but can't make heads or tails of the answer.
A positive CC account acts just like a debit card on a checking account. It's a "cash" purchase, as it hardly needs to be paid back. Your Payment category should be at $0 Available.
Gray Drum said:
I see my amount budgeted for groceries go down
Minor nit that may head off confusion in the future: The amount Available (or reserved) for groceries goes down. Your budget entry (1st column) doesn't change.
I had this same experience. I followed these directions. However, as I've been spending that money & the money moves from the allocated budget back to the credit card, it is showing as a money available for a payment. If I try to schedule a "payment" to clear that, it doesn't allow me to "pay" capital one with capital one. How do I reconcile it?
Khaki Piccolo said:
you're thinking that it is moving checking account money into the "payment" column
If any money was moved, it is "budget" money. Whether that's checking account money is a bit immaterial. The budget lumps all of your cash from all cash-based budget accounts together.