Credit Cards as Bills or Transfers

Question

I added my Chase credit card bills in the online biller category so that they show in the Bills tab of the Bills & Income tab.  My bill amounts are always up to date via the automatic refresh of my credit card bill amounts with due dates.

I now understand, however, that the amounts due for the credit cards should instead be included as transfers from my checking account to my credit card accounts rather than as bills.

I have therefore added transfer reminders for each of my credit cards in the Income and Transfers tab of the Bills & Income tab.

If I delete those bills I added for the credit cards as online billers, however, I will then lose the automatic updating of the current balances provide by Chase.  The automatic updating is not available in the Transfers dialog but instead only estimates may entered.

I would like to know if the correct approach is to retain the credit card bills as online bills in the Bills tab so that I can know the credit card balances and due dates despite the fact that they have been also entered as Transfers in the Bills & Income tab.

NotACPA · Accepted Answer

You receive a bill from Chase for the card … so you can continue that.

And, properly, you seem to be recording card purchases in a  credit card account.

It's the Payments to the card, pursuant to the online bill, that's the transfer.

So, simply, you're over-thinking the situation.  You're  confusing the bills with the payments of those bills.

NotACPA · Accepted Answer

As long  as each payment (from  checking transfer to card) is only happening once in each account,  you're OK.