Need help with credit card transfer
I just completed a credit card transfer from one active card to another to take advantage of a 0% interest offer. The one wrench is that the money to pay off the first card will be deposited into my bank account not sent directly to the credit card company.
This means my bank will get a big deposit which I will then need to use to pay the first card, and then a huge expense will show up on the second card. Since it's an existing card I can't just use starting balance feature.
Anyone have any ideas how to get this to be reflected accurately in YNAB? I need to figure out a way to deal with the cash inflow to my bank and also how to account for the big expense when it hits my credit card account.
The movement of money is just transfers between accounts. However the transfer from CC to checking will add money to your TBB, so you'll need to budget enough to the CC category for the card to have enough budgeted to pay it off. Any remainder in TBB (if there is any) should probably be budgeted back to the card payment category that is taking on the new balance.