Is Everybody Aware That Having A Cc Which You Pay Off I
Q: I have a credit card (configured as a charge card) which I pay in full each month by direct debit.
I have placed the cc in the debt reduction planner. This means that the next payment always adjusts itself to the outstanding balance of the card. Also, if I look at future payments in the bills & deposits calendar they are set equal to my estimated monthly spending. Unfortunately, these future payments are not reflected in the cashflow forecast for either the cc or the current account which pays the direct debit.
If I ignore the debt reduction planner and simply create a recurring bill for paying of the cc direct debit the future amounts are included in the cashflow forecast but the next payment due does not automatically adjust itself to the current outstanding balance.
Has anybody got any idea how to get the best of both?
Is everybody aware that having a cc which you pay off in full in the debt reduction planner significantly distorts the cashflow forecast?
A: Why place a credit card that you clear every month in a debt reduction plan? Cards cleared every month in full are not a debt. (Technically they are, but all you are really doing is delaying when you actually have to pay for your shopping/diesel/beer/gadgets etc.) .