How to work with Credit Cards?

Question

My Quicken accounts include bank savings and checking as well as two credit cards we pay off the CCs monthly. When I look at Spending by Category, Credit Card Payments is a large category. But under Accounts, there is category detail for spend on each CC. How can I set up Quicken to use those categories rather than showing  just one big CC Payment under Spending? Thanks for the help!

bmciance · Answer

To reflect the categories of each item on a credit card you either need to download the transactions from the credit cards or manually enter them as they happen. at that time you would categorize each transaction so that they show up in your spending report. Then when you pay the credit card the "category" of the payment is the credit card account in square brackets (in other words the payment transaction is a transfer from your checking account to your credit card account and would not show up in a spending report.)

Ps56k2 · Answer

You should have created each CC on it's own - and it appears in the left list of Accounts - 
under Banking - with the Account Type of CREDIT.
Are you downloading transactions via One Step Update - or doing everything manually ?
Each transaction in the CC Register should have the appropriate Category .... either auto or manually edited/corrected.
Lastly - to PAY OFF your credit card - you enter a transaction in your Checking Account - but the Category is the name of the CC acct in Quicken, enclosed in brackets.... this creates a "Transfer", not a payment.....   -->  [Visa ps56k]