Credit Card Balance Transfers
When you make a transfer from one credit card to another, that's what we call a Balance Transfer. You might be paying off multiple cards to consolidate to one, or playing the zero-interest game. Whatever the reason, here's how to handle this in YNAB:
- If the new credit card is not yet in YNAB, add it as a new account with a $0.00 balance. If you're transferring the balance to an existing credit card in YNAB, skip this step.
- Create a transfer transaction to move the negative balance from the old credit card to the new credit card account—this transfer transaction will be an inflow in the old account, and an outflow in the new account which is taking on the new balance.
- Check the budget and move any Available money from the old Credit Card Payment category to the shiny new one.