Balance Transfers on Mobile

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, there are a couple of steps to handle this in YNAB.

These steps will assure your accounts and budget are accurate after the balance transfer.

How to Make a Balance Transfer

  1. If the new credit card isn't in YNAB yet, add it as a new account. If you're transferring the balance to an existing credit card in YNAB, skip to step two. 
  2. Transfer money between the two credit card accounts. This will be an inflow in the old account and an outflow in the new account which is taking on the new balance. See our article on making a transfer for more on setting up this transaction!
  3. Balance transfer transaction shows a $500 outflow from the new credit card to the old credit card.
  4. From the Budget tab, move money between the Credit Card Payment categories. 
  5. Tap the Old Credit Card Payment category and tap Move Money to move money to the New Credit Card Payment category.

  6. Close the old account (don't delete it!).
  7. From the Budget tab, tap the pencil icon at the upper right to enter Edit Mode. 
  8. Tap on the old Credit Card Payment category. 
  9. tap the minus (-) sign to the right of the category name. 
  10. Choose the Hide Category option. 

That's it! You've successfully transferred the balance between credit cards. Go you!

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