How do I set up a credit card account in TimelyBills?

TimelyBills allows you to easily create credit card accounts with their current due amount and credit limit in offline mode. Below are some key details on how credit card accounts function in the app:

• After setting up a credit card account, you can use it to track expenses. Each time you make a transaction using the credit card account, the due balance will automatically update to reflect the new total.

• If a credit limit is entered during account setup, the app will also display the 'Available Balance', helping you track your remaining credit.

• The due balance of a credit card account will automatically decrease when you make a transfer from another account to the credit card account. Be sure to select the credit card as the "To Account", and the app will adjust the due balance accordingly.

• Similarly, the due balance is reduced when a bill reminder is marked as paid. If you use a credit card account as the "To Account" while paying a bill, the due balance will be updated.

• You can also set up automatic bill reminders for your credit card. To do this, make sure to enable the 'Remind me for upcoming bills for this account' toggle in the 'Alert' section during account setup.

Steps to set up a Credit Card Account:

• Navigate to the Dashboard > Accounts.  

• Enter the account details like Bank, name, number, account currency, and importantly the Credit Limit, and click Next.
• Now enter the Credit Card bill-related details like current due amount, bill generation date, bill generation frequently, and bill due date and click Next. Check the screenshot below for reference 

• Set Up Credit Card Alerts: If you want to get the bill reminder alert automatically with the exact due amount on the bill generation date, then enable the toggle 'Remind me for upcoming bills for this account' else keep it off.
  • If enabled, also provide how many days before you want to see these reminders.
• Optionally, set a credit utilization ratio alert to notify you if your credit card usage exceeds a specified percentage of your credit limit. 

• Review and Confirm: Review all the details you have provided for accuracy. If everything is correct, click "Create" to finalize and create your credit account.