Linking Credit Card to Scheduled Bills

#5 02-24-2004, 02:18 AM

Derrick, I followed your instructions and it works. I'm impressed.

I didn't really understand the DRP prior to this, and the somewhat
backdoor method of checking "Pay balance each period" is what makes the
actual, current monthly balance dynamically update in Bills and
Deposits. (I'm going to have to experiment to see how it affects cash
flow forecasts and budgeting.)

It does beg the question, though, why is it so unintuitive to setup?
One would think MS could have greatly simplified this to have a check
box on the change account details page to say 'update amount in Bills
and Deposits with entire balance each month'.

Derrick Cole wrote:
- quote -

> Hmm...
> In M04, I have two credit cards (a Visa and an AmEx), with 0% interest and
> "Pay balance each period" checked. I have *only* these two credit cards in
> the Debt Reduction Planner, with $0/month and $0/one-time and the bills
> managed by the DRP.
> Lo and behold, the next scheduled credit card payments are for the
> outstanding balances (whatever they may be). Note this isn't the
> *scheduled* outstanding balance, but the *actual* balance (i.e., no
> scheduled bills/debits are reflected). When I make the credit card payment,
> the next scheduled payment reflects any outstanding balance.
> The trick I've found is having no other credit cards/lines of credit in the
> DRP. If you have debt you're trying to pay off with the DRP (as I did up
> until a couple months ago), my suggestion is to exclude the others from the
> DRP and manually "pay" the credit card bill via an entered transfer and
> update the amount as charges are posted.
> Is this what you're after?
> Derrick
> "Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
> message news:%23ZzbxRe8DHA.1592[at]TK2MSFTNGP10.phx.gbl...
> > You'll get no argument here. I can show you where I posted this suggestion
> > back in the days of the CompuServe MSOFT Applications Money section on
> > 9/19/93.
> > > "Retired Coal Miner" <...[at]...> wrote in message
> > news:uDSDx6d8DHA.2540[at]TK2MSFTNGP11.phx.gbl...
> > > > I think it's a big gap that they never linked these two things.
> > > > > Dick Watson wrote:
> > > > > > Sadly, no. I use an average amount for the last year as the amount to
> > > > schedule. You might want to mess with the DRP and see if you can get
> > > this to
> > > > > do what you want. I was never able to.
> > > > > > > <anonymous[at]discussions.microsoft.com> wrote in message
> > > > news:e54c01c3f121$a71baf10$a101280a[at]phx.gbl...
> > > > > > > > > > > I have setup my credit card as a separate account like
> > > > > Money suggests. Is there any way to link the current
> > > > > month's actual balance (i.e. not using an estimated
> > > > > amount) to the scheduled bills and deposits page?
> > > > > > > > > >

#4 02-23-2004, 02:41 AM

I'm wondering if anyone else can get this to work as described, I've
played around with it (M03) and I can't it to work, ... yet. It sure
would be very nice, and a big step forward in functionality, if this worked.

Derrick Cole wrote:
- quote -

> Hmm...
> In M04, I have two credit cards (a Visa and an AmEx), with 0% interest and
> "Pay balance each period" checked. I have *only* these two credit cards in
> the Debt Reduction Planner, with $0/month and $0/one-time and the bills
> managed by the DRP.
> Lo and behold, the next scheduled credit card payments are for the
> outstanding balances (whatever they may be). Note this isn't the
> *scheduled* outstanding balance, but the *actual* balance (i.e., no
> scheduled bills/debits are reflected). When I make the credit card payment,
> the next scheduled payment reflects any outstanding balance.
> The trick I've found is having no other credit cards/lines of credit in the
> DRP. If you have debt you're trying to pay off with the DRP (as I did up
> until a couple months ago), my suggestion is to exclude the others from the
> DRP and manually "pay" the credit card bill via an entered transfer and
> update the amount as charges are posted.
> Is this what you're after?
> Derrick

#3 02-17-2004, 02:27 PM

Hmm...

In M04, I have two credit cards (a Visa and an AmEx), with 0% interest and
"Pay balance each period" checked. I have *only* these two credit cards in
the Debt Reduction Planner, with $0/month and $0/one-time and the bills
managed by the DRP.

Lo and behold, the next scheduled credit card payments are for the
outstanding balances (whatever they may be). Note this isn't the
*scheduled* outstanding balance, but the *actual* balance (i.e., no
scheduled bills/debits are reflected). When I make the credit card payment,
the next scheduled payment reflects any outstanding balance.

The trick I've found is having no other credit cards/lines of credit in the
DRP. If you have debt you're trying to pay off with the DRP (as I did up
until a couple months ago), my suggestion is to exclude the others from the
DRP and manually "pay" the credit card bill via an entered transfer and
update the amount as charges are posted.

Is this what you're after?

Derrick

"Dick Watson" <littlegreengecko[at]mind-enufalready-spring.com> wrote in
message news:%23ZzbxRe8DHA.1592[at]TK2MSFTNGP10.phx.gbl...
- quote -

> You'll get no argument here. I can show you where I posted this suggestion
> back in the days of the CompuServe MSOFT Applications Money section on
> 9/19/93.
> "Retired Coal Miner" <...[at]...> wrote in message
> news:uDSDx6d8DHA.2540[at]TK2MSFTNGP11.phx.gbl...
> > I think it's a big gap that they never linked these two things.
> > > Dick Watson wrote:
> > > Sadly, no. I use an average amount for the last year as the amount to
> > > schedule. You might want to mess with the DRP and see if you can get
> this to
> > > do what you want. I was never able to.
> > > > > <anonymous[at]discussions.microsoft.com> wrote in message
> > > news:e54c01c3f121$a71baf10$a101280a[at]phx.gbl...
> > > > > > I have setup my credit card as a separate account like
> > > > Money suggests. Is there any way to link the current
> > > > month's actual balance (i.e. not using an estimated
> > > > amount) to the scheduled bills and deposits page?
> > > > > >

#2 02-13-2004, 02:50 AM

You'll get no argument here. I can show you where I posted this suggestion
back in the days of the CompuServe MSOFT Applications Money section on
9/19/93.

"Retired Coal Miner" <...[at]...> wrote in message
news:uDSDx6d8DHA.2540[at]TK2MSFTNGP11.phx.gbl...
- quote -

> I think it's a big gap that they never linked these two things.
> Dick Watson wrote:
> > Sadly, no. I use an average amount for the last year as the amount to
> > schedule. You might want to mess with the DRP and see if you can get
this to
> > do what you want. I was never able to.
> > > <anonymous[at]discussions.microsoft.com> wrote in message
> > news:e54c01c3f121$a71baf10$a101280a[at]phx.gbl...
> > > > I have setup my credit card as a separate account like
> > > Money suggests. Is there any way to link the current
> > > month's actual balance (i.e. not using an estimated
> > > amount) to the scheduled bills and deposits page?
> >

#1 02-13-2004, 02:08 AM

I think it's a big gap that they never linked these two things.

Dick Watson wrote:
- quote -

> Sadly, no. I use an average amount for the last year as the amount to
> schedule. You might want to mess with the DRP and see if you can get this to
> do what you want. I was never able to.
> <anonymous[at]discussions.microsoft.com> wrote in message
> news:e54c01c3f121$a71baf10$a101280a[at]phx.gbl...
> > I have setup my credit card as a separate account like
> > Money suggests. Is there any way to link the current
> > month's actual balance (i.e. not using an estimated
> > amount) to the scheduled bills and deposits page?

02-12-2004, 03:58 AM

Sadly, no. I use an average amount for the last year as the amount to
schedule. You might want to mess with the DRP and see if you can get this to
do what you want. I was never able to.

<anonymous[at]discussions.microsoft.com> wrote in message
news:e54c01c3f121$a71baf10$a101280a[at]phx.gbl...
- quote -

> I have setup my credit card as a separate account like
> Money suggests. Is there any way to link the current
> month's actual balance (i.e. not using an estimated
> amount) to the scheduled bills and deposits page?

#-1 02-12-2004, 03:35 AM

I have setup my credit card as a separate account like
Money suggests. Is there any way to link the current
month's actual balance (i.e. not using an estimated
amount) to the scheduled bills and deposits page?

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