Bill Pay Maximums
It would be nice to be able to have maximum to pay on an account. For example, if $1,000 is owed on the account and you want to pay in 4 payments, you CAN create two Manual Bills. One for 3 payments of $250, and then one that is pay the balance. BUT the problem is that works when the balance is not going to change.
What about when the credit card is constantly being used. It would be nice to say, pay a maximum of $250 on this card each month, but not more than the balance due. To avoid a long term problem, it might be nice to add a warning if the payment maximum will result in the balance stretching out to far. For example, if you had a balance of $1,000, setting a maximum of $25 would result in 40 payments (actually, with interest, it might go on forever).
So maybe something like two amounts: "Maximum payment amount" and "Warn if more than xx payments". For example, on a current $1000 balance, I might set Maximum to $250, and Warn if more than 5 payments. That way, if I charge another $1,000 on the card, it would warn me that the current maximum would exceed 5 payments.
What about when the credit card is constantly being used. It would be nice to say, pay a maximum of $250 on this card each month, but not more than the balance due. To avoid a long term problem, it might be nice to add a warning if the payment maximum will result in the balance stretching out to far. For example, if you had a balance of $1,000, setting a maximum of $25 would result in 40 payments (actually, with interest, it might go on forever).
So maybe something like two amounts: "Maximum payment amount" and "Warn if more than xx payments". For example, on a current $1000 balance, I might set Maximum to $250, and Warn if more than 5 payments. That way, if I charge another $1,000 on the card, it would warn me that the current maximum would exceed 5 payments.
Tagged:
1