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Ability to utilize the minimum payment amount instead of full balance of credit cards

Travis
Travis Member ✭✭
On the 'Bills & Income' > 'Bills' tab, only the full payoff amount for credit cards is shown in the Mac version. I can't seem to find an option to adjust this so only the minimum payment due is considered. This seems to be a pretty significant problem for anyone who maintains a running balance.

ISSUES CAUSED:
  • Not easy to tell how much is actually due (I know this can be seen under 'Actions' > [ellipsis menu] > 'Edit Details' > 'Min Balance Due' but it's a hike to get to)
  • Screws up scheduled transactions in checking accounts that the credit card bill is associated with making it extremely difficult to plan ahead.  
EXAMPLE:

A credit card set up under 'Bills & Income' has a $10,000 balance and a $300 minimum payment due. All that can be seen (without clicking through to details) is that $10,000 is "Due in 6 days" (which isn't really true). In addition, the scheduled payment shows up on the attached checking account as a projected payment of $10,000 (instead of the minimum $300). If you have $1,000 in this checking account, the scheduled credit card payment gives you a projected balance of negative $9,000. This makes it impossible to gauge how much disposable cash you might have over the next few weeks.

VERSION:
Version 5.8.0 (Build 58.24400.100)
macOS 10.13.6

Comments

  • Unknown
    Unknown Member
    edited October 2018
    For what it is worth.  The Windows version does allow selecting between paying the balance or the minimum, so the information is "available" to Quicken Mac.
  • Unknown
    Unknown Member
    edited October 2018
    This renders the much needed "projected balance" useless, since the amount is inaccurate. I'm also looking for a solution to this issue...
  • Unknown
    Unknown Member
    edited September 2018
    tmancebop said:

    This renders the much needed "projected balance" useless, since the amount is inaccurate. I'm also looking for a solution to this issue...

    One solution would be to do it the "old fashion way", and manage the reminders manually.
  • smayer97
    smayer97 SuperUser, Mac Beta, Canada Beta ✭✭✭✭✭
    edited September 2018
    tmancebop said:

    This renders the much needed "projected balance" useless, since the amount is inaccurate. I'm also looking for a solution to this issue...

    That's the work-around I have had to use for decades.... simply schedule a balance transfer amount and manage it manually. I preset it with an amount that approximates my monthly spend and adjust it as needed.

    Then make sure to exclude that credit card account register from the projected balance and you will get a better approximation of cash flow.

    (If you find this reply helpful, please be sure to click "Like", so others will know, thanks.)
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    Canadian user since '92, STILL using QM2007)


  • jacobs
    jacobs SuperUser, Mac Beta Beta
    edited December 2018
    It's hard to understand how when this completely new feature was being developed for the current Quicken Mac, the developers didn't implement it in a similar way to Quicken Windows.

    Travis, my only suggestion is to try to get this issue to the attention of the product manager, Marcus, to make sure it's at least on the radar. Two ways to go with this: (1) post on the "Quicken for Mac 2018 v5.8.0 Released" thread; Marcus typically monitors those threads for the first week or two after each new release, and/or (2) post your comment in the Report a Problem screen on the Quicken Help menu.
    Quicken Mac Subscription • Quicken user since 1993
This discussion has been closed.