Credit Cards as Bills or Transfers

GerryP

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

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

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

NotACPA

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.

GerryP

Thank you very much for the explanation. Did I overstep by adding the credit card bills as transfers in addition to adding them as online bills rather than leaving them just entered as online bills?

Again, thank you very much for your clarification.

NotACPA

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