How to Set Up a Credit Card Account in Quicken 2010

By Stephen L. Nelson

If you want to track credit card spending and balances with Quicken, you must set up a special credit card account. To set up a credit card account, you follow roughly the same steps as you do to set up a bank account.

1Click the Home tab in Quicken.

The Quicken Home page appears.

2Click the Add Account button in the lower-left corner.

Quicken displays the Quicken Account Setup dialog box.

3Select the Credit Card radio button, then click Next.

The Quicken Account Setup dialog box (or boxes) appear, asking about the financial institution foolish enough to issue you a credit card.

4In the Identify Your Financial Institution dialog box that appears, enter the issuer name or part of the name in the text box, and then click Next.

Alternatively, you can click buttons to generate a list of credit card issuers (mostly banks) that begin with a certain letter or group of letters. Instead of identifying your issuer, you can select the radio button that indicates you don’t want to identify your credit card issuer.

After you click Next, Quicken displays the Quicken Account Setup dialog box that lets you provide the account balance on a specific date.

5In the Statement Ending Date text box, enter the date on which you will start keeping records for the credit card account.

You should probably choose the date of your last statement, which Quicken suggests. Type the date in MM/DD/YYYY format. August 31, 2010, for example, should be entered as 8/31/2010.

6Enter the balance you owed at the end of the last credit card billing period after making your payment in the Statement Ending Balance text box, and then click Next.

After you click Next, Quicken displays the sixth Quicken Account Setup dialog box.

7(Optional) Type in the amount of your credit limit in the Credit Limit text box.

Quicken lets you record whatever number the credit card company has arbitrarily decided is a reasonable balance for you to shoulder.

8Click Next.

Quicken displays a message that the account setup is complete.

9Click Done.

Quicken finally gets the message and re-displays the Quicken Home page.