Credit Card Analysis
It would be nice to see a Credit Card Analysis. Credit Card rates have been increasing quite a bit in the past year or so. It would be nice to record Rates for each Card as they go up or down. In this analysis it would be nice to show the Credit Limit and the last time the card was used for a purchase. As Credit Card companies can close your account after a period of non-use, it would be nice to have something to warn you that you have not used the card in a while and that you are at risk of having the account closed. This would be a nice warning as it can affect your Credit Rating when Credit Card accounts are closed.
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Have you looked at the Property & Debt > Debt tab?
It has many of the items you are looking for. It has the current balance but not the time since last use.
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I just checked it out, that does have some of the information, but there is no way to track the interest rate of each card over time (only the current rate) and it doesn't show the date the last time each card was used for a purchase. It would be nice that if it showed this information so that you can easily track the interest rate and the last time the card was used so that you can decide to use the credit card again before it is closed so that it does not affect your Credit Rating from the account being closed.
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How many credit cards do you have?
I would think that you could easily tell which ones you have not used recently by looking in the Account Bar for zero balances in credit card accounts.
How would Quicken know the interest rates of your cards?
I don't think that info is downloaded, it is only updated if you type in a new number. I suppose you could enter the current rate in the Memo field when you enter a payment for the card.
What would be the benefit of knowing the rate history?
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Thank you for your response. But I feel shuffled off by this response. It sounds much like, "we don't want to bother to make our product better or easier to use. The benefit would be that you could see the history of the Interest Rate to be able to make decisions on whether you want to keep the Credit Card. When a Credit Card Rate goes from 15% to 30% within a year, I closed out the account. There could be maybe twelve fields for twelve months that store the Interest rates or a small table linked to the account that holds those Interest Rates? I am a Data Analyst and I have been using Quicken since about 1995 and this and one other suggestion I just made is first time that I have suggested any changes. The price is going up on my subscription this year. Why would I now want to continue this subscription now?
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@jerryp.ny @Jim_Harman is another user, which the exception of a few moderators is who are posting on here. This is no indication pro or con of how Quicken Inc feels about your suggestion.
But let me clue you in on some things that you might not be aware of. One @Jim_Harman pointed out if your suggestion is based on getting some information that isn't available, then there is very little chance that it will be implemented. The second thing is that in fact, people suggest lots of different things on here and they get one or two votes and then they are "forgotten". So, SuperUsers like @Jim_Harman will try to find other workarounds to at least try to help. Not as much as trying to push not for the idea, as much is being realistic and trying to help as best, they can.
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@Chris_QPW @Jim_Harman I apologize for responding as though Jim was from Quicken. I got that impression based on his responses. But if you are stating that my post for a suggestion is "worthless" it still stands that I would not want to renew my subscription. I do not believe there have been any major substantial changes in Quicken since 1995. And when I finally make two suggestions for changes and I get a reply like yours…………
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@Quicken Jasmine can you please close this suggestion. I have pretty much been told by @Chris_QPW that my suggestions are "worthless" and I no longer wish to pursue this suggestion. Thank you.
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@jerryp.ny I am sorry if my questions made you think your suggestion is worthless. I was trying to understand how you would use these features if they were available, and to point out what you can already do in Quicken along these lines.
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I'm sure it was my pessimistic comment. I'm sorry @jerryp.ny, I really shouldn't have said anything. As @Quicken Jasmine said your other thread there isn't any such thing as a worthless suggestion.
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@Jim_Harman. No, I'm sorry. When I thought you were a Quicken Support Employee, I thought the response came across as "why would you want that" and it sounded as if Quicken couldn't be bothered until Chris_QPW pointed out that you were a Quicken user asking the questions. That is why I apologized. But to properly answer your questions…. I currently have seven credit card accounts and I watch them fairly closely, including watching the rates on most of these climb during the past two years or more. I don't use them all at once, I primarily use one or two at at time. Having several but using them wisely by having several or a large total amount of credit available but using them sparingly can increase your credit score. I currently have a TransUnion Credit Score of 827 and an Equifax Credit Score of 829 and I watch them closely. Last year I had a credit card rate that originally went from 15% up to 30%. I closed that account because I didn't ever want to get stuck paying that much interest on a Credit Card account. It would be nice to track that over time to see if I want to keep that Credit Card or not. Plus it would be nice and easy to to see the last time I made purchase on all of the cards on one screen because if you don't use the cards with in a years time some if not all banks will close out the account. When you close accounts it decreases the total amount of credit available to you, which changes your % of credit use which can lower your Credit Score. Again this would remind me if I need to use the Credit Card if I don't want the chance of the account being closed. As a Data Analyst I find these items to be important to see at a glance. One thought would be to have twelve slots for each credit card to show a years worth of rates or a pop up table from a link that would allow you to enter as many dates/rates that you want to enter. I also would like to choose a new card to replace the one that I closed to keep my total credit available up against the credit that I use to keep up my Credit Score, but I am holding off opening another Credit Card Account with how high Credit Card interest rates are right now. In the end my decision to not renew is based on the statement "The second thing is that in fact, people suggest lots of different things on here and they get one or two votes and then they are "forgotten"." This is not something you stated.
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