Glint Pay

Glint Pay debit card where you can buy gold, then you can buy goods with the Mastercard debit card, it sells fractions of your gold to convert to cash to make purchases.

It uses grams instead of ounces. I found a stock symbol on theses forums for gold prices but it uses ounces.

Any advice for setting up this account with the use of gold in grams?

Have Quicken Classic Deluxe on Windows.

Comments

  • Tom Young
    Tom Young SuperUser ✭✭✭✭✭

    The only way you can realistically set this up in Quicken is to create an Investment Account for this "debit card," enter your purchase as so many grams (shares) at such and such a price, then sell "grams" (shares) or fractions of grams as you make purchases, and use the resulting "cash" to buy stuff using the MiscExp action. I assume each purchase is somehow communicated to you by Glint as to the grams or fraction of grams used for each purchase. You'll have to enter the value of grams as the "quote" manually I'd think.

    This will get more difficult if you buy more gold with a gold balance on the card as you'll have to try to keep track of "lots" of grams in order to calculate the capital gain or loss associated with each purchase. It looks like Glint will charge you for that yearly analysis of what to report to the IRS.

    This is one of those "I wouldn't touch this with a 10-foot pole" situations for me based on my very brief look at the Glint site and I expect this will be a big money maker - for Glint.