Credit Cards

Credit cards are where most budgeting apps lie to you. Budgetwise doesn’t.

The Problem

When you swipe a credit card, your checking account doesn’t change. Most people see the same bank balance and keep spending, forgetting that money is now owed. The bill arrives weeks later and it’s a surprise.

How Budgetwise Handles It

When you record a credit card transaction in Budgetwise:

1. The money is deducted from the budget category immediately — if you charge $50 to Groceries, your Groceries category drops by $50
2. The credit card account balance increases by $50

Your budget reflects reality the moment you spend, not when the bill comes.

Paying Your Credit Card

When you make a credit card payment, it’s a transfer — money moves from your checking account to your credit card. Your budget categories don’t change because the money was already accounted for when you spent it.

Setting Up a Credit Card

1. Go to Accounts
2. Click Add Account
3. Choose Credit Card
4. Enter the current balance (as a negative number if you owe money)

Tips

• Record transactions as they happen — Don’t wait for the statement
• Pay your balance in full when possible — Budgetwise makes this easier because you always know what you owe
• Check your credit card balance in Budgetwise against your actual statement regularly