change named card acct. to loan acct.

imfrankjohn
imfrankjohn Member ✭✭
in Download, Add/Update Accounts (Windows)
My home equity acct. is wrongly listed as credit card

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  • imfrankjohn
    imfrankjohn Member ✭✭
    Change listed as credit card to home equity acct.
  • Quicken Paloma
    Quicken Paloma Quicken Windows Subscription Alumni ✭✭✭✭
    Hello @imfrankjohn, 

    Thank you for reaching out to the Quicken Community. We apologize you were having this issue, but are glad you were able to resolve the issue. 

    Please let us know if you come across any other issues/errors or have questions. 

    -Quicken Paloma 
  • UKR
    UKR Quicken Windows Subscription SuperUser ✭✭✭✭✭
    edited October 2021
    Just for reference:
    A LOC or HELOC account should be treated as a credit card account in Quicken because you can take out money and pay it back and do so repeatedly.
    A traditional loan or mortgage, when it reaches $0.00 as balance, is considered paid off and you cannot take out more money.
    IMHO, neither LOC, HELOC or mortgage accounts should be connected to the bank for transaction downloading. Track it as a manual (offline) account using a properly defined Scheduled Reminder for recording any payments with splits for principal, interest and escrow. You'll get much better results this way, including a correctly updated account balance.
    If you want to see your LOC or HELOC in the Account Bar as Liability instead of mixed in with the Credit Card accounts, go into Edit Account Details, Display Options tab and change Account Intent from Credit to Liability.

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