Automatic credit card repayment amounts

Is there any way to create a recurring transfer to repay my spent credit?

E.g. if my credit card has a limit of 1000 EUR, is there currently (or will be in the future) a way to set the a recurring transfer from my checking account to the credit one that is automatically calculated to 1000 - current balance at date?

Hi @hkaju,

First of all, I’m really sorry it’s taken time to reply. For some reason our new forum wasn’t giving us notifications.

This is a really good question. Credit cards and budgets don’t always have a happy relationship as the money you spend on it doesn’t need to be repaid within your budget period.

So there are two ways to deal with what you are asking. First, you can add a payment to one of your budgets. Just set it to $1,000 per month and uncheck the automatic payment. This will give you a reminder to pay the credit card, but it will be limited to the outstanding balance of the card. That’s a feature of payments.

The potential downside of doing it this way, is that it will add $1,000 to your budget every month as it is potentially what you could have spent. So another way to deal with this is to set a goal to repay the credit card. Every time you get paid, any money in excess of your budget requirements will be offered to the goals. The goal will only use what is required to pay the outstanding amount. This goal will just repeat itself so any time you have an outstanding balance, it will plan to make repayments for you.

In future releases we hope to add some features that allow planning of spend on credit cards with immediate reservations for repayment too.

I hope this helps, and thanks for reaching out!

David.