Interest Rates on Quicken for Mac

mikebruno74
mikebruno74 Quicken Mac Subscription Member ✭✭
in Product Enhancements

I was going through my finances on Quicken Classic for Mac and realized there was no way to assign an interest rate to credit cards. If my memory serves me correctly, there used to be a way on Windows, and I found this a handy feature when trying to figure out a debt repayment solution. Can we please bring this to the Mac version of Quicken?

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  • jacobs
    jacobs Quicken Mac Subscription SuperUser, Mac Beta Beta

    I've always been a Quicken Mac user, so I'm not familiar with this Quicken Windows feature. Is the interest rate simply for display purposes (where was it visible?), or did it actually calculate and post interest fee transactions? I'm not clear on how Quicken could know the posting dates of every transaction and payment in order to accurately match a bank's calculation of interest, but perhaps this is do-able.

    Quicken Mac Subscription • Quicken user since 1993
  • Chris_QPW
    Chris_QPW Quicken Windows Subscription Member ✭✭✭✭

    In Quicken Windows the interest rate for a credit card is entered on the Account Details dialog:

    image.png

    As for where it is used. It is used in the Debt Reduction planner (which Quicken Mac doesn't have).

    It is also, displayed (but otherwise) not used on the Properties & Debit tab.

    It isn't used for any transaction kind of data.

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