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"Remaining Credit" Wildly Wrong

QwikOne

Recent Web Connect updates of all credit cards show accurate Online Balances but wildly high Credit Remaining figures. They range from 10 to 1000 times the real Credit Remaining depending on the credit card. Two cards have over a half million in remaining credit. In viewing the bank statements the remaining credit amounts are accurate based on the amount charged versus limit on the each card.

Ideas?

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Comments

Rocket J Squirrel

Have you manually set the cards' credit limits in Quicken? If not, you need to.

QwikOne

Are you saying the "Credit Remaining" is a calculation in Quicken rather than the amount reported by the bank? If so, I do have limits set in some of the credit cards in Quicken. They, too, have wildly high "Credit Remaining" figures, completely unrelated to those reported on the banks' account pages.

QwikOne

https://community.quicken.com/discussion/comment/20447890#Comment_20447890

UKR

Have you verified that the Credit Limits which you set in your credit card account registers are still correct?
Just trying to exclude the possibility of some bug or Murphy having messed up the numbers …

Go into the Property & Debt tab, select the Debt subtab and scroll down to the 2nd window, titled "Selected Liability and Credit accounts …"
Interest Rate and Credit Limit can be changed right there, if the stored values are incorrect.

If you haven't done so already, I'd recommend you call Quicken Support on the phone and make them aware of the situation. Somebody at Quicken needs to dig a little deeper …

QwikOne

https://community.quicken.com/discussion/comment/20448051#Comment_20448051

Yes, I did check that credit limits were set in all accounts in Quicken. I agree, it looks like a phone call is in order. First step they will suggest …….. deactivate-reactivate those accounts.

Chris_QPW

It sort of sounds like some kind of data file corruption. You might try running Validate and Repair.

Note, being "different" than what the financial institution has in itself isn't a red flag because there are various reasons why they can be different, but if Quicken isn't consistent with itself (the amounts don't add up) in the register, then that is a red flag.