Credit Card Accounts

A credit card account is used to keep track of your current balance on a single credit card. The balance on a credit card should almost always be zero or negative, since the balance represents your current debt on the credit card.

A credit card account stores information such as card number, expiration date, interest rate (labeled APR), and bank name for your convenience. None of these values, including the interest rate, affects the operation of the account. If you download your card's transaction data from the financial institution, interest adjustments will be taken care of automatically. You can also specify that the credit card is a child, or subaccount, of another account.

If you primarily use your credit card for a particular class of expenses - such as business expenses or fuel purchases, it may be useful to set a default expense category. You can do this when you first create the credit card account, or by clicking Account->Edit at any time while the credit card account is selected.