CC Balance Transfer

oreddie1

I transferred a balance from one credit card to another with an introductory 0 interest offer. The transfer, however, shows up as a negative value (credit balance) on the card I transferred to. What gives?

DannyB

@oreddie1

Just guessing here, but maybe Quicken Simplifi sees the transfer to the new credit card as a payment/deposit instead of a charge/debit and thus is showing the charge as a credit balance.

If the new card is connected to QS your bank balance should update to the correct amount.

Otherwise, you might want to add a "-" or"+" to the transaction amount to see if that fixes it.

RobWilk

How did you do the transfer? If you did a linked transfer (where the category is 'transfer to [account]'), it should make the target side the opposite positivity/negativity as the account you transferred from.

It's also possible your new bank, for whatever reason, is giving you a reverse register (where positives and negatives are backwards when downlaoded), and that would need to be reported as a bug.

RobWilk

Wait one second, when you transfer a credit card balance, the target account SHOULD become negative.

UrsulaA

Can you share some screenshots for us to see what you got and then we can help better? I agree with @DannyB , the card receiving the transfer to offset balance should have its balance reduced (+ve transfer) while the source card should have a higher balance (no sign) and show a negative balance on the dashboard.