Create the plan
To create a credit card amortization plan:
- If needed, expand the "Credit card payments" group in the Budget by:
- Pressing "F7" on your keyboard,
- Right-clicking on the Budget's "Credit card payments" group header, or
- Clicking on "Spreadsheet > Expand > Credit card payments"
- Right-click on the credit card being amortized to open the dropdown menu
- Click on "Pay off large balance" to display the "Amortize Credit Card" window
- If the "Scheduled payments" amount is not zero:
- Click on the "Delete all scheduled payments" icon
- In the "Serious?" message box, click on the "OK" button
- Enter the "Highest interest rate on last statement"
- Create an amortization plan (play with the payment options until you find an amortization schedule that works best for you)
- "Pick a payment amount"
- Select the "A payment in the amount of" radio button
- Enter a payment amount to see the resulting number of payments
- "Choose the number of monthly payments"
- Select the "Making payments of" radio button
- Enter the number of monthly payments to see the resulting payment amount
- Select the "Start date" for your amortization plan
- Click on the "Apply" button
- In the "Amortize" message box, click on the "OK" button to add the amortization plan to your Budget
When you add an amortization plan to your Budget, it may be necessary to change how you make the credit card payments. If needed:
- edit the credit card in the Budget to change how payments are made, and
- log onto the credit card company's website to change the payment method and/or amount.
Continue with "Track the plan"