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proper transaction to enter when paying credit card balance from points

My credit card gives cash rewards cash back. From what I can tell, either I can use the accumulated cash back to pay my credit card balance, or I can put the balance into the credit union savings account.

I wish to pay my next credit card balance in its entirety using the accumulated cash back.

what would the proper transaction be to enter? The credit card is scheduled through the Bill & Income tab in Quicken for Mac, and is normally shown as a transfer from my checking account.

Best Answers

Answers

  • micha8st
    micha8st Member ✭✭
    I guess I'm overcomplicating things. If I have a multi category credit card transaction (some is groceries, some is wife's clothing, for example) where there's something like $10 off total purchase, I'll enter the $10 as "Gift:Non-Family" - the same category we use for non-charitable gifts to non-family.

    That's what I'll do here. Thanks!

    Procedurally, that means marking the bill as won't pay, and waiting for the credit transaction to be downloaded, and then categorizing the transaction as "Gift:Non-Family"
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