Add Notes and Credit Limits/Usage Percentage to Accounts [edited] (4 Merged Votes)

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seascorpio82
seascorpio82 Member ✭✭
edited March 2023 in Feature Requests
I'm hoping I post this in right place, but yeah...

There should be a way to put a note in an account, as there is in the Quicken software, that you can easily access when clicking that account...up at the top near the account name. Doesn't have to be a huge text field, and perhaps it's a drop-down that must be clicked. An example of the information that I would want to put in here is: some of my credit cards I ONLY use for balance transfers. I like to keep track of when that balance transfer expires...also some people might like to make note of a promotional APR expiration, or just something short. But speaking of APR...

There should also be a way to input (as there is in Quicken) or automatically show what the APRs are on credit accounts.

Just the same, it would be helpful if credit limits are shown, and if you're looking for a home run, show what the credit usage/availability is across all credit accounts. This is a big factor in figuring people's credit scores, so I think that would be helpful.

Lastly, I'm going to keep asking that recurring transactions have support for multiple categories. I won't rehash any of the many many reasons why this should exist....because it just should.

seascorpio82
Seattle, WA

47 votes

Active · Last Updated

Comments

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
    edited December 2020
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    Hello @seascorpio82,

    Thanks for posting this to the Community!

    I have gone ahead and turned this into an Idea post so that other Users can vote on it. Please be sure to add your vote as well!  :)

    Additionally, I'd suggest adding your vote here for multiple Categories in Recurring Transactions: https://community.simplifimoney.com/discussion/98/using-splits-multiple-categories-in-recurring-transactions/p1?new=1

    -Coach Natalie
  • cfoxcvg
    cfoxcvg Member ✭✭✭✭
    edited February 2021
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    I suggest adding the credit line to credit accounts and displaying available credit for credit accounts. This is a basic feature in many financial programs and would be a welcome addition for me.
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
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    Hello @cfoxcvg,

    Thank you for taking the time to post this to the Community!

    I have gone ahead and turned this into an Idea post so that other Users can vote on it. Please be sure to add your vote as well!  :)

    -Coach Natalie
  • cfoxcvg
    cfoxcvg Member ✭✭✭✭
    edited December 2021
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    Need to be able to add a credit limit for credit accounts and this should be reflected on the projected cash flow charts/
  • Jrmclean
    Jrmclean Member ✭✭✭
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    I too would like to see "Need to be able to add a credit limit for credit accounts and this should be reflected on the projected cash flow charts"
  • Ashleydel
    Ashleydel Member
    edited February 2022
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    Why on earth isn’t a card credit limit linked to accounts? Ridiculous— what’s the point of a budget tracking app if you don’t know your budget for a credit card? Free apps even have this. [removed] has this. Credit utilization rate is a key aspect of financial data, especially when you are trying to improve your credit score and budget for credit card payments. 
  • ryanoldja
    ryanoldja Member
    edited June 2022
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    request:
    1. fetch credit limit for a given credit account (or at least ability to manually set)
    2. display credit usage vs. credit limit for each account

    this would prove to be a very useful feature for me. I often check my credit accounts on simplifi when considering which card I should put a large purchase on. seeing usage vs. limit for each account would help inform those decisions
  • leandrotoledo
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    Bumping this up. Is this feature being considered?
  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
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    Hello @leandrotoledo,

    Thanks for reaching out!

    There is no further update to provide on this request at this time. If you navigate to the top of this thread, you'll see that the status is "Active". Once the request is being considered by the Product Team, the status will be updated to "In Review", and then "In Progress" once we know the feature is forthcoming.

    With that said, please be sure to continue following along here for future updates!

    -Coach Natalie 
  • Klaxwave
    Klaxwave Member ✭✭
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    I'm currently trying to build my credit score, and everything I see points toward having your credit usage percentage be in a Goldilocks sweet spot where it's not too little, but not too big (I was told 9% or less, but the specifics aren't important). The way I've been keeping track of this is by having every credit account labeled with its credit limit in parentheses [for example, Credit Card (1500)], and then manually calculating my credit usage percentage by dividing the credit used into the credit limit. It would be nice to have that automated: when creating a credit account in Simplfi, the program could ask for the credit limit along with all the other relevant details, and print a credit usage percentage somewhere so I can quickly check. (Given that credit limits can be increased, this would have to be a field that can be edited after the fact.) Ideally, the entire credit category could have a “Total Credit Usage” percentage, given that credit companies determine your score from looking at all the credit accounts you have.

  • papermuffins
    papermuffins Member ✭✭✭
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    Great idea, @klaxwave!

    Experian recommends 30% or below. That said if your goal is to remain under a percentage cap rather than regularly calculating your current usage percentage, why not just define your max amount?

    Credit card limits are relatively static, meaning they don't increase/decrease regularly. If you have a 10k limit and are trying to stay at 9% you would know that $900 is the limit you should have spent on that card. You could update the label for that credit card as:
    Bank CC (Limit 900)

    That way you can at a glance see what you currently have spent vs what your actual dollar amount is. You would rarely (once a year at most) need to change that limit number.

  • Klaxwave
    Klaxwave Member ✭✭
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    That's a good suggestion, @papermuffins. The thing is that I just want the budget to reflect my financial situation as it is, rather than what I want it to be: it may well be that in the unknown future, some emergency will force me to go over my ideal percentage. Even when my intended plan fails, I'd like to know exactly how much I'm failing so I can figure out just how much course correction I need to do.

  • papermuffins
    papermuffins Member ✭✭✭
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    @Klaxwave I hear you, but isn't the current spend on the CC already the way it is?

    None the less, good idea → I think Simplifi could be more useful if it included some credit card features (utilization, FICO score, etc).
    I also think it should help with debt reduction, with an avalache/snowball calculator. It does a good job right now as a ledger and category tracker, but it stops there.

  • Michelle Carlson
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    I would use Notes on my accounts to hold additional info like "Doesn't Sync with Simplifi - manual updates req.", "Final Pmt 04/24. Currrent Pmt #23 of 36" "Use for Travel, but not for purchases outside USA"

  • jay999
    jay999 Member
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    Bumping this for visibility. This is a great suggestion and is currently in other apps like Wallet from BudgetBakers. It's helpful for those just starting out with cards, or those with lots of accounts that want to keep their credit utilization below 30%. For those who have higher limits, it's great to store this information along with APR so you can easily see where your cards are at if you want to shop around for better rates.

  • debo
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    Bumping for visibility!!!

  • Charleszzx
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    I'd like to see my credit limit and utilization in Simplifi.

  • Coach Kristina
    Coach Kristina Moderator admin
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    Hello @Charleszzx,

    Thank you for coming to the Community to share your feedback! Since there is already an Idea requesting this functionality, I merged your request with the existing Idea.

    Thank you!

    -Coach Kristina

  • MjrDmg
    MjrDmg Member
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    Bumping for visibility.

  • LakGoy
    LakGoy Member
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    It would be useful to have a section to keep notes for each account that I add. For example to keep information like what I use it for, monthly fees, direct-deposit requirements, etc.

    Having a section to store this information would be helpful to keep track of all my accounts without needing to search for it in the actual account, I could see it directly in Simplify.

  • RobWilk
    RobWilk Superuser ✭✭✭✭✭
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    I voted for it, but I think this idea already exists with existing votes, I just cannot locate it right now.


    Rob Wilkens

  • Coach Natalie
    Coach Natalie Administrator, Moderator admin
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    @LakGoy, thanks for posting your request to the Community!

    I went ahead and merged your request with this existing request, as it sounds to be the same thing you're looking for. However, I did want to share this other request for a general "notes" section as well:

    I hope this helps!

    -Coach Natalie