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 Post subject: Rebuilding Credit: Unsecured Card
PostPosted: Thu Mar 14, 2013 11:39 am 

Joined: Thu Mar 14, 2013 11:33 am
Posts: 4
I have a CapitalOne unsecured credit card which I am using as a tool to rebuild my credit. It started off as $201 limit, and they recently increased it to $301. I use it for gas and food and pay it off every 2 weeks when I get paid. The balance rarely goes past 50%. Should I record the money I spend on this card as an expense in my Budget Calendar? Because I'm essentially replenishing my own money of my original investment.


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 Post subject: Re: Rebuilding Credit: Unsecured Card
PostPosted: Thu Mar 14, 2013 4:43 pm 

Joined: Fri Sep 12, 2008 12:29 pm
Posts: 1633
Location: Seattle, WA
Not sure what your "budget calendar" is. But:

The money securing the card is an asset. It has a fixed value.

You have one of two choices for the money you spend using the card. You can either track each individual purchase (gas, food, etc) as an expense, and then the payoff of the card as a transfer. Or you can simply track the payoff as a single expense.


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 Post subject: Re: Rebuilding Credit: Unsecured Card
PostPosted: Thu Mar 14, 2013 5:52 pm 

Joined: Mon Nov 01, 2010 5:15 pm
Posts: 1230
stannius wrote:
Not sure what your "budget calendar" is. But:

The money securing the card is an asset. It has a fixed value.

You have one of two choices for the money you spend using the card. You can either track each individual purchase (gas, food, etc) as an expense, and then the payoff of the card as a transfer. Or you can simply track the payoff as a single expense.

Yep. Probably easier to track as a single expense.


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