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Posted by sharx35 on March 5, 2007, 12:40 pm
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>
>> I noticed last month that my Bank of America (BofA) credit card
>> transactions that had cleared for the current month were not
>> downloading into the register. These are not pending transactions, but
>> charges that have cleared based on looking at the bank's website. BofA
>> appears to have started updating only when a statement period closes.
>> (ie, data current only up to the end of last month) The BofA tech
>> support said they were having issues with credit card data, but a post
>> on the Quicken forum says they have changed their policy and we should
>> "write a letter". I do not know who to believe.
>>
>> Anyone else having credit card data issue as I describe? Quicken
>> Premier 2005 R6
>>
>
> It doesn't matter which version of Quicken you use. It's happening for all
> of us.
>
> I have the same problem with my BofA CC. BofA merged with MBNA, so under
> the hood your credit card is now a MBNA credit card, and it changes quite
> a few things in the BofA information systems. Have you noticed the changes
> in the website, between your checking and your credit card?
>
> I have two accounts: a checking and a credit card. The checking account is
> still handled by bank of america, so no doubt, this is still working like
> clockwork. The credit card is another story. They integrated with MBNA's
> credit card system, and there are many things you just can't do anymore.
> Just to name a few: you can't search your credit card online statement for
> transactions the way you can search your checking account; and used to
> search your CC account. Worse, to all of us Quicken users, the download to
> Quicken has been broken for credit cards, and it's not going to come back
> up anytime soon. I've had to integrate some information systems with banks
> in the past, and it is a slow process. The bureaucracy layer weighs a ton
> and stretches the agenda like crazy.
>
> Anyway, the reality is: we're back to pencil and paper reconciliations,
> and it's a nightmare :(
>
> The question is: do you keep the credit card, or do you open one somewhere
> else? Well, my own choice is to keep the card, because I have a stellar
> credit history on it. So, to those in my situation, I say: suck it up. To
> the others who just opened a BofA card, I say: there are plenty of other
> financial institutions out there and in 2007 you shouldn't bother opening
> a card with a FI that doesn't allow download to Quicken.
>
> J.
>
It takes me but a minute or two, on the days that I *use* my credit card, to
enter the transactions into Quicken. THAT way, I *know* the work is
accurate, NOT having to rely on a third party. Reconciliationis a snap--when
the monthly statement comes, I just use the reconciliation feature in
QUicken and in 3 minutes...all done. WHy do you people try to reinvent the
wheel, spending hours trying to make the financial institution's system
work?
>
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