Balance Transfer Fees Treated Partially as Cash Spending

Hi there,

I'm moving money around to low interest cards, and YNAB is treating some (but not all?) of the balance transfer fee as cash spending. It's messing with my cash balances, and I have tried 15 ways to address it without luck.  Help!

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  • HOW are you entering it? The balance transfer fees need to be categorized as interest or bank fees or whatever category you use for that.

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  • When I categorize them as interest it treats them as partially cash and partially credit spending. There is no systematic split in the amount that I can identify.  I want all of the balance transfer fees to be credit spending, as I will be paying them off over time.

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      • MXMOM
      • MXMOM
      • 2 yrs ago
      • Reported - view

      Cornflower Blue Wildcat In the credit card account add a new transaction with the category interest  it sounds like you are trying to do it all as as transfer from the other account  do 2 transactions  1 for the transfer  and 1 for the fees  

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    • MXMOM  

      This is what I see. I have no idea where the 108.22 is coming from. Or the 524.26 for that matter.

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      • mamster
      • mamster
      • 2 yrs ago
      • Reported - view

      Cornflower Blue Wildcat When you transfer money from one credit card to another (i.e., a balance transfer), any money you've budgeted to the credit card payment categories doesn't move automatically. You have to do it manually. I can't tell if that's related to what you're asking or not. It also looks like you entered a positive (inflow) finance charge on the PenFed CC, and I'm not sure if that's accurate or a mistake.

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    • mamster I'm not sure this answers my question. Thank you for contributing.

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  • Okay I have no idea how it fixed things but I followed the advice of Gordon Patterson Jr  on this thread. I did not do it with all of the transfers, but of the ones I did, it seems to have addressed my problem. ¯\_(ツ)_/¯ 

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  • Just kidding, still having trouble.  I found a couple of credit card payments that were not categorized as transfers from my checking.  I was at a $0.00 to be budgeted amount, and the only thing I changed was the Payee: from "SYNCHRONY BANK" to "Payment: WF Checking".  Now my to be budgeted amount now in the red.  What is going on????  The money was already leaving my checking account; how did that change occur?????

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    • Sorry, I mean "Payment: Care Credit"

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    • Hi Cornflower Blue Wildcat !

      Based on the screenshot you shared, your credit card payments haven't been budgeted for. For instance, you budgeted $314.04 towards your PenFed credit card and you had $102 that carried over in that category from last month - for a total of $416.04. That means you had $416.04 Available to pay towards your credit card balance. However, you made payments towards the PenFed credit card totaling $524.26 - meaning you spent $108.22 more than you had available. That's why that amount is red - it's cash overspending because it's cash from your Checking account used to pay down your credit card balance.

      Your To Be Budgeted amount became negative for the same reason. When you changed those previous transactions to show as payments, YNAB realized those funds weren't credit card spending. Instead, those funds came out of your Checking account as payments - meaning cash was spent to pay down the credit card balance. 

      To fix this, move money to cover the credit card overpayments. You can move funds back to To Be Budgeted to cover the negative there. Going forward, you'll only want to make a payment towards your credit card that's equal to or less than the Available amount in your credit card category. If you make a payment for more than what's Available, it causes overspending.

      Let me know if you still have questions!

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    • Faness Thank you for the comment!  I only paid the 314.04 from my checking account. The rest of the payments toward that card came from other credit cards (the balance transfers)--not my checking account. What am I missing?

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    • Cornflower Blue Wildcat The balance transfer between credit cards wouldn't have caused your credit card category to become overspent.The red overspending is only for cash overspending. 

      Would you mind if I took a closer look at things? If you’re up for it, go ahead and enable Support Access for your account. Once you’ve done that, let me know—and mention whether you’d like to continue the discussion here or via email instead.

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    • Faness Enabled!

      I'm happy to have you post here, since a few people are following this thread.

      Thanks!

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    • Cornflower Blue Wildcat Thanks for enabling that so we could take a look! Are you still having trouble? I looked but the Activity for the PenFed CC caategory is now showing $314.04 to match the budgeted amount instead of the $524.26 in the screenshot. Since that was adjusted, there's no longer any overspending for that category - which is great! :)

      If you still have questions, just let me know!

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    • Faness  That's because I had to delete the balance transfers and just start the new cards at the total amount, including balance transfer fees.  There is a bug in the system about this issue so I hope you all take a closer look.  I'm happy to "undo" my actions so you can see what I mean.

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    • Cornflower Blue Wildcat  Thanks for clarifying! To look into it further, we'll need see the situation in action—but you might want to hold off until we reach out.

      Most of the team is on holiday break, spending time with their families. It may take a few days, but we’ll follow-up as soon as possible!

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    • Cornflower Blue Wildcat I am going to loop our Bug team in on this conversation and they will follow up via email after taking a look through your account. As Nicole mentioned, much of our team is out on our Holiday break so it will take a few extra days for this to happen. I appreciate your patience!

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