Why won't Quicken accept an accurate Minimum Balance in Debt Reduction Plan set-up?
RAWittenburg
Quicken Windows 2017 Member ✭✭
In Debt Reduction tab, Quicken won't allow the actual minimum payment amount from the credit card statement to be entered. A discussion on this from riggz609 on May 21, 2020 was closed without resolution. Is there any update or better, a solution?
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Answers
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I think what it's trying to tell you is that that payment will not work with the interest rate you provided. With the payment and interest rate you provided, the balance would increase instead of decrease.0
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While waiting for a reply, I deleted the Debt Reduction Plan (which I beleive I began to set up many months/years ago. It cleared out the problem. When I set up a new Debt Reduction Plan, I was able to put in the proper (much smaller) minimum payment amount (which matched the CC statement). Looks like Quicken may have solved the problem. My error was to use an obsolete, incomplete plan, as a starting point, rather than open a new (post-fix) one. Thanks, Damien.0
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Glad you found the answer. There must have been "some behind the scenes" calculations that needed to be cleared out.0
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I agree, Damien! Everything's working fine now. I completed the new Debt Reduction Plan quite easily. Thanks for your time, attention and support!0