Well...sometimes you have to think like a bank...

In *most* cases, the credit card company will apply your payment to the
lowest percentage rate first (so they get more money). So, let's say you
have a credit card with a balance transfer rate of 5% and a purchases rate of
11%, you'll only begin paying off your 11% rate balance when you have fully
paid your balance transfer. You should call your credit card company - they
will tell you how your payments will be allocated - some work differently
than others, but this is something you should definitely find out.

If this were me and the case is what I've described above, you should
immediately stop making any purchases on a card that you're carrying a
balance. It would probably be a much wiser decision (if you have this
option) to open a different credit card and only use that for purchases. You
run the risk of digging yourself into a giant mess if you have debt riding at
11% for an extended period of time and you're not able to make any payments
on it...

"John Barnes" wrote:

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I've seen that setting, but that will not work in this case. The
introductory rate setting again only works for one interest rate. Currently
a portion of my balance is 11% and a portion is 5%. Not sure if there is a
way to have money track this and allocate payments properly. I've thought of
creating 2 accounts (balance 1 and balance 2) but that wouldn't allow for
online updates, nor would I know how to allocate the payments properly. For
example, not sure if entire payment always is applied toward lower interest
rate first, or if a portion of payment is applied to each balance.

"Rick H." wrote:

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In Money 2007 upon adding the credit card account it asks you what the
interest rate is on the card which you specify, there is also a check box
which allows you to specify if an introductory rate is in effect, what the
introductory rate is and the date the rate will change after the introductory
rate expires. You may need to set up your liability account again with these
features enabled.

Hope this helps,

Rick H.

"John Barnes" wrote:

- quote -

Is it possible to set up Money 2007 Home and Business to track and update a
credit card account with two interest rates? For example, debt reduction
planner asks for interest rate of account, but what can be done if an account
has one interest rate for purchases and another rate for balance transfers?