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#1
09-30-2005, 03:52 AM
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 Re: Credit Card Accounts JRam wrote: - quote - > Can money automatically enter just the monthly finance charge/interest
I'll correct myself. The answer is a qualified yes. Use online banking, but> paid? that will download all transactions, not just finance charge. -- Chris Cowles Gainesville, FL |
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09-30-2005, 12:02 AM
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| Re: Credit Card Accounts JRam wrote: - quote - > Is there a way for money to automatically determine how much of my payment
The answer to both questions is no. Interest expenses on credit cards> goes towards the principle? At the moment I enter a Credit Card Payment or > Transfer: To Credit Card in my checking account transactions list. The > transaction appears in the register for the appropriate credit card. Then > I > have to manually enter the amount of interest paid that month to get the > correct balance. > -or- > Can money automatically enter just the monthly finance charge/interest > paid? generally are posted as a separate transaction, including by the bank. Your credit card payment simply reduces the entire balance. Unlike amortized loans, there's no distinction between what proportion goes to principal, and what to interest. |
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#-1
09-29-2005, 04:58 PM
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| Credit Card Accounts Is there a way for money to automatically determine how much of my payment goes towards the principle? At the moment I enter a Credit Card Payment or Transfer: To Credit Card in my checking account transactions list. The transaction appears in the register for the appropriate credit card. Then I have to manually enter the amount of interest paid that month to get the correct balance. -or- Can money automatically enter just the monthly finance charge/interest paid? |
| Tags |
| accounts, card, credit |
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