Credit card spends to pots

Feedback & Ideas Jupiter Edge
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So recently I have been spending more than I should using my credit cards. This leaves me in a fix for the next month when the credit card bills arrive.

So going with the philosophy of DON’T spend what you don’t have, is it possible to introduce a feature wherein when I spend using the Edge credit card, automatically the corresponding money is transferred from my Jupiter account into the “CC Bills” pot?

@Shawnpinto @JupiterTeam

I understand the ideal way to handle this is to spend what I have using the debit card. Just throwing it out there to see what’s possible and also get ideas on how you guys would manage your credit card bills.

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Not a bad idea.
What’s everyone’s thoughts on this?

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Immediate transfer will mark many transactions in the statement. Providing an option to set transfer frequency would be good IMO.

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Nice idea. Actually now I am doing it manually. It would be helpful if the same is implemented with ability to modify the options.

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@Shawnpinto this and more should be easy with rules - like Fi fit rules but with more customisability with our own rules (our imagination is the limit).

It would be great if there is IFTTT integration (as some of our community friends had suggested earlier.

Is there any chance of that happening?

But if IFTTT is difficult for the team to integrate with Jupiter for technical or regulatory reasons, rules within Jupiter should work just fine.

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This does sound good.
But one of the reasons people use CC is to keep savings acc. statement clean.

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And I am also thinking… Not many people have the balance in their accounts. That’s also a reason why they use credit cards. :grin:

Damn! I am giving the feature and I am also giving the reason not to implement it. :face_exhaling:

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Putting the spends on credit cards and then paying them immediately is also an approach. This ensures one earns the points that come with CC spends, keep a tab on the spends and also generate a robust credit score. But in this scenario linking of the pot feature may not work.

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@yagnesh01 I thought for the credit score to improve, one has to get bills and then pay the bills. So that those bills and the corresponding payments are reported to the credit bureaus.

But if we pay the credit card spends immediately, there are no bills with dues and then no corresponding bill payments.

Correct me if I am wrong. Thanks.

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Even those instances of no bill due gets reported to the bureau.

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OK. So I am guessing that the non billed transactions are not taken into consideration for the credit utilization ratio calculation.

If you pay the bill partially before the bill is generated, then the credit utilization doesn’t get affected for bigger spends of say Rs.2 lakhs on a credit limit of Rs.4 lakhs.

So you can pay Rs.1 lakh before the bill generation and you can keep the credit utilization ratio below 30%.