Credit Card Paying Credit Cards/Credit Accounts

NNeese · ‎July 28, 2020

We have both Credit Card accounts and Credit accounts. For Example: VISA Credit Cards, Home Depot, Sam's Club, etc.

We plan to pay for the Home Dept and Sam's Club accounts with VISA when VISA bill is due each month, but we want to be able to reconcile the Home Depot and Sam's Club statements so that when we see the VISA bill each month, all we see is the summary for those vendors for paying the VISA bill.

Example: Home Depot Statement $500 (we want details to be entered as they occur)

Sam's Club Statement $200 (we want details to be entered as they occur)

VISA Statement $700 (includes only these vendor items above)

Would we be able to reconcile both Home Depot/Sam's Club Statements and choose to pay with VISA Credit Card? And if so, when we go an reconcile the VISA Statement, will this show up in the account type "Credit Card" set up for the VISA?

We want to be able to review vendor history for all these.

john-pero · ‎July 28, 2020

You certainly can treat your Home Depot and Sams as credit card type accounts, which they are despite being captive to those vendors.

And your separate Visa card certainly can be used to pay your monthly statements.

All you gain is time and rewards points. If you only pay a portion you incur interest which may negate the bonus points or miles.

For vendor history to be accurate you will have to enter the vendor name for each card transaction.

Example record $500 at Home Depot on their card from Citibank as a purchase from Home Depot.

Reconcile HD, make payment to statement using BoA Visa for $500.

What I do not understand is how you think the HD 500 will appear on your Visa bill until you actually use it to pay HD.

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Credit Card Paying Credit Cards/Credit Accounts

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