Feature Request: Bill Reminder "Estimate Amount for Me" Enhancement
varandian Member ✭✭
edited January 2022 in Paying Bills, Online Billers & Reminders (Windows)
The "Estimate amount for me" feature in bill reminders should include "Credit Card Balance as of X date". While most credit cards have a due date, there's usually a 30 day grace period before the payment is due. For example, the payment due on 3/15/2022 is the balance that was present on 2/15/2022. That "Estimate amount for me" should have an option of something like "the amount from 30 days ago" which would be a much more accurate estimation.
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I think this is a great idea. Statements seem to come out around the same date every month so just being able to put a date in the reminder's "estimate amount for me" would be helpful. Not sure how much coding that would require but a good idea none the less.0
I also would like an option "Balance as of X date" for credit card payment estimate. However the date should be based on the day of month for the "Closing Date".
For the past year, I have using Bill Reminder with an Automatic Entry comment of
"---- Chase End-of-Month ----"
This way I know how much I will have to pay for the month, but having the option for the estimate would be ideal! :)1
I can see how setting an "as of" date for the estimated credit card balance due would be helpful after the cutoff date, but what should it use as the estimate prior to the cutoff date? If it uses the current balance, that would lead to a low estimate, especially shortly after the bill has been paid.
For credit cards, I generally set the estimate to use the average of the past 3 months' payments. This can be thrown off by major expenses, but it is usually pretty good.
QWin Premier subscription0
Adding this feature would really improve the accuracy of the Projected Balances tool. For people who pay their credit card balances in full on autopay, setting a bill reminder based on full balance is inaccurate, but as @Jim_Harman mentions, using the average payment for the last 3 months is easily thrown off by major purchases.
I thought linking to an online bill would fix this issue, but it seems like what it does is provide an accurate bill reminder for the next due credit card payment, but not the following one which would contain the remaining balance accrued after the last statement closing date.0
Can't seem to vote for this but I completely agree with Melt. This would be extremely helpful. Otherwise the estimate is quite inaccurate and virtually useless. Just setting an "estimate on date" would give exactly what my upcoming credit card bill will be. I download all the transactions daily and the cutoff date for the next billing period is early in the month, while the payment is due at the very end - there can be a lot of transactions over almost 4 weeks that throw the estimate off on the due date.0