How to correctly allocate credit card transactions and direct debit and/or full balance payments?

Help
1

I currently have 3 credit card accounts connected to my snoop account and was wondering if anyone could help with how i should be using this app? Please see below on how I currently use the app.

I have 2 current accounts and 3 credit cards connected to my snoop account. All direct debits come from 1 current account. I have also set a budget for various categories within the app.

I have a tendency of clearing all my credit card balances in full on the 1st of each month – I like to have a fresh start of each month. However, one of my credit cards takes the full amount on the 27th of the month. So, often times it looks like I have paid twice within that month. The same applies to another one of my card. So for example:

  1. Direct debit payment for credit card A on the 27th,
  2. Pay full balance amount for credit cards A and B on the 1st (also clearing balance not included in previous months payment)
  3. Direct debit payment for credit card B on the 19th.

Credit card A statement period is 14th to 13th
Credit card B statement period is 6th to 5th

At the moment, when I clear my credit card amounts in full – I categorise these as ‘general’. However, this usually means that i reach my budget limit because these payments are being used to clear the amount spent the previous month and I think I am using the app incorrectly.

Should I be treating my payments to clear my credit card balance as ‘internal transfers’?

2

I use internal transfers when I pay my credit card using my current account, otherwise it counts the spending twice. I also select the option to exclude transfers from my budget.

1 Like
3

Thank you very much for the response, will follow suit.