CITI Balance incorrect
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nothingclever
Member ✭✭
Hi, I have a Citi Credit Card. Seems like there is an issue with quicken online displaying the balance incorrectly. I have a balance of +$20.08 since I redeemed some rewards, but quicken displays the balance as -20.08. I think there is an issue with how Citi displays their accounts. From CITI website, a negative balance means that the money is owed to the customer, as opposed to a charge on the account, but quicken uses the conventional accounting with negative balance being what is charged on the card.
Is there a work-around for this?
I am certain that all transactions are downloaded accurately and the balance was accurate up until a month ago.
Is there a work-around for this?
I am certain that all transactions are downloaded accurately and the balance was accurate up until a month ago.
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Best Answer
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Ah, I understand the problem now.
What if you reconcile using Statement instead of Online Balance? Then you can manually enter the correct balance and move forward. Any by next month, your balance should be back to owing money, and all should be okay?
Alternatively, you'd need to goo to Quicken Support to demonstrate the problem; they might say it's Citi's fault and you need to contact them, or perhaps they could escalate it so the Quicken team could program around the way Citi transmits a credit balance. At best, it would take awhile to get fixed; at cost, you'd be sent in circles and get nowhere! So I'd opt for the first approach above.
Quicken Mac Subscription • Quicken user since 19930
Answers
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Are you sure they don't actually agree? If you have a positive actual account balance (they owe you), then in Quicken the most current entry in the Balance column should be black with no sign. If you owe them, it should be red with a minus sign. For a credit balance, the Online Balance at top right of Quicken's screen would be black with no sign.
I know Citi displays individual credit transactions (as opposed to charges) with a minus sign on the website. I'm not sure how they display a credit balance.Quicken Mac Subscription; Quicken Mac user since the early 90s0 -
So I overpaid them CITI $20 when I redeemed my points. CITI website it says $-20 (in green/as opposed to red), and quicken online says +$20, which is technically in agreement with each other, its just CITI displays it differently. I went through and the balances add up accurately.
Has that been your experience?0 -
If you overpaid Citi and have a credit balance with them, and in Quicken your credit card account shows a positive (black) balance, then this seems exactly right. In Quicken, when you owe money on a credit card, your balance is negative (red). You're saying it's black, so it seems all is well. Is that right?Quicken Mac Subscription • Quicken user since 19930
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Correct, however when I try to reconcile with the online balance which shows -$20, I’m unable to reconcile it since Quicken thinks my online balance is -$20, but really that’s just how citi reports their data. Does that make sense?0
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Ah, I understand the problem now.
What if you reconcile using Statement instead of Online Balance? Then you can manually enter the correct balance and move forward. Any by next month, your balance should be back to owing money, and all should be okay?
Alternatively, you'd need to goo to Quicken Support to demonstrate the problem; they might say it's Citi's fault and you need to contact them, or perhaps they could escalate it so the Quicken team could program around the way Citi transmits a credit balance. At best, it would take awhile to get fixed; at cost, you'd be sent in circles and get nowhere! So I'd opt for the first approach above. Quicken Mac Subscription • Quicken user since 19930 -
You're right that my best bet is to work around it with manual reconcile until it's reported enough times to be fixed.0
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