Credit Cards and the Spending Plan (edited)

countrycloudboy

I really don't understand the way Simplifi handles credit cards. It is near impossible to properly track monthly credit card payments as a planned spend. This app would be so much better if this was treated as a monthly cost. I know some people say you should be tracking what you are spending on the cards but for those of us trying to get out of debt that is not a great way.

I want to be able to say, my AMEX payment coming up is 450 this month and it be part of the monthly budget. Not some after thought that I have to plan for on the side.

Coach Kristina

Hello @countrycloudboy,

Thank you for sharing your feedback. Typically, credit card payments reflect in your Spending Plan as a transfer, since (assuming both the payment account and the credit card are in your Quicken Simplifi) the payment is just documenting funds going from one account to another. For more information, please read this article on how credit card payments are handled in the Spending Plan: https://support.simplifi.quicken.com/en/articles/5142302-how-credit-card-payments-and-transfers-are-handled-in-the-spending-plan#h_50fd9d7a5f

It is difficult to track credit card payments under Planned Spend because it is set up more for specific categories rather than specific accounts (how much you expect to spend on groceries, for example). There is an Idea post requesting that functionality be added though. Click "View Post" to take a look!

https://community.simplifimoney.com/discussion/4372/ability-to-create-planned-spending-expenses-for-credit-card-payments-and-other-transfers-edited

If the above is something you'd like to see added, please add your vote and a comment. Ideas that get enough votes may be implemented in the future!

Here are a couple other Idea posts you may find interesting:

https://community.simplifimoney.com/discussion/8831/deduct-credit-card-transactions-from-my-checking-accounts-available-balance-edited

https://community.simplifimoney.com/discussion/451/make-credit-card-bills-a-separate-entity-from-recurring-transactions-edited

You can create a recurring transaction to help with budgeting your anticipated credit card payments. For more information on creating and editing recurring transactions, please review this article: https://support.simplifi.quicken.com/en/articles/3625912-managing-recurring-transactions#h_8fd254df41

An additional benefit of setting up recurring transactions for your credit card payments is that a new feature, Bill Connect for Credit Cards, will reflect your statement balance for the upcoming instance, once that information is available. For more information on this feature, please click "View Post".

https://community.simplifimoney.com/discussion/12276/new-feature-alert-bill-connect-for-credit-cards

I hope this helps!

countrycloudboy

I am going to try out the New feature you posted.

countrycloudboy

So I followed the above. Now I have two reminders for each card. ARgh!!!! One shows what I owe and then another one shows a credit. So it stinking zeros out and doesn't actually show what my month trurly looks like. Why is credit card management so difficult with Quicken. No other tool has these issues.

countrycloudboy

In the series I only have money out unchecked. Money in is checked so why am I seeing money in to my credit cards in my reminders?

Coach Jon

Hello @countrycloudboy,

Thanks for the replies! I think to better understand your specific issue, we will need some screenshots in order to see what's going on. If you can provide those showing the issue you are having, that would help us better understand your situation. Let us know!

-Coach Jon