Credit cards and loans

A credit card is an account like any other. Its balance is usually negative, because it shows what you owe. You pay the bill with a transfer.

Spending on the card

• Add the purchase on the card with its real category, like Groceries.
• Overspending works as on checking: see Cover overspending .

Paying the card

1. Tap and choose Transfer.
2. Set From Account to your checking account and To Account to the card. Enter the amount.
3. Tap . The payment needs no category. See Transfer between accounts .

Budget for the bill (optional)

When you add a card or loan, newmonth asks if you want to plan money for it each month. Say yes if you don't pay it all each month. Saving creates a category named after the card, like "Visa Payments". You choose its Monthly amount. A payment is still a plain transfer. It lowers this category's Available by itself. To turn it on or off, open the card, tap → Edit Account → Budget toward this account.

Statements

A statement is your card's monthly bill. It is usually not the same as the current balance: purchases after the statement date belong to the next bill.

1. Open the card and tap → Edit Account → Statement tracking.
2. Turn on Track statement. Enter the Statement Balance and Statement Date. Set the day under Payment due once. Then tap .

While the card has a balance, its screen shows a status: Ready, Short, Overdue, Paid or No statement. Pay statement balance fills in the transfer for you. Once a payment covers it, it reads Paid this cycle. OFX or QFX imports fill in the statement for you. When the statement is older than about 35 days, the button reads Pay current balance instead.

Loans

A loan works the same way: payments are transfers. Its opening balance is what you still owe. Interest and fees are transactions on the loan that raise what you owe. Its screen shows how much you've paid off. After you refinance, swipe the progress bar left and tap Reset baseline to start progress from there.