Credit Cards & Loans
What you owe, tracked alongside what you own.
Updated
Where They Live
Credit cards appear on the Net Worth Overview tab in a Credit Cards section, alongside the other liability groups: Lines of Credit, Mortgages, Personal Loans, Student Loans, Auto Loans and Other Loans.
A synced card tracks its balance automatically. You can also add cards and loans by hand through Credit/Loan in the add menu, updating the balance periodically to keep your net worth accurate. Balance history is charted over time either way.
What a Synced Card Brings Across
Cadence asks your bank for transactions and balances. For a card or loan that means the current balance, the available balance and the credit limit. The following are not retrieved:
| Detail | From your bank? | Can you record it? |
|---|---|---|
| Current balance | Yes | - |
| Credit limit | Yes | - |
| Minimum payment | No | Not stored |
| Interest rate / APR | No | Yes, on a manual Credit/Loan |
| Statement balance and date | No | Not stored |
| Payment due date | No | Track it as a bill instead |
| Amortisation and payoff date | No | Amortisation years, on a manual Credit/Loan |
A manually added Credit/Loan collects the interest rate, monthly payment, amortisation in years and renewal date, and a mortgage or auto loan attached to a property or vehicle collects the same. Those figures are stored and displayed, not used to generate a payment schedule.
Tip
For a due date you want to be reminded about, add the payment as a recurring bill. That is what feeds the cash flow forecast and the reminders. See Bills.
Cadence does use the credit limit for one thing: if a synced card crosses 30% utilisation, you can get a heads-up. See Notifications.
Credit Card Payments
When you pay a card from a synced bank account, both the payment from your bank and the balance reduction on the card are reflected. Both are treated as transfers, so the payment does not read as spending and the debit is not double-counted on top of the purchases it settles.
If your budgets look inflated, a payment miscategorised as spending is the usual cause. See Transfers & Payments.
Loans
Track mortgages, car loans, student loans and other debts on the Net Worth Overview tab. A loan held at a linked bank syncs its outstanding balance automatically as you make payments. For debts you cannot sync, add them through Credit/Loan with the current balance and update as you go.
A mortgage or car loan can also be attached to the property or vehicle it belongs to, which groups them in the list without changing the maths. See Real Estate and Vehicles.
Paying Down Debt With a Goal
A Paying Off goal linked to a card or loan tracks the balance down to a target you set, where 0 means paid off. Progress is measured as how much of the original balance you have cleared, so the bar fills as the balance falls.
Cadence works out whether you are on track from your target date and current balance. See Goals.
How They Affect Net Worth
Credit cards and loans are liabilities and subtract from your total. As a balance falls, your net worth rises. The chart shows liabilities changing over time alongside your assets, which is the clearest view of whether debt is actually going down.
- A synced balance updates on each sync.
- A manual balance stays where you left it until you edit it.
- A card or loan split with a partner halves, but only on mortgages and car loans - not on credit cards or lines of credit.