Intuit's Visa Makes It Easier To See Where Your Money Is Going

One of the most popular uses of home computers is personal finance management. But one drawback in using a PC to track how much you spend is that you must manually key in all of your expenses, such as utility bills and credit card statements. Intuit Inc., the leading maker of home financial software, has devised a way to eliminate some of the typing. The Menlo Park (Calif.) company has teamed up with Visa USA Inc. and Primerica Bank for a new service called IntelliCharge, an electronic credit-card statement.

To use IntelliCharge, consumers must apply to Intuit for a special no-annual-fee Visa card. For $4.50 each month, instead of getting a printed statement, members receive a floppy disk that inserts the reported charges right into the latest version of Intuit's popular Quicken program for IBM-compatible PCs. Or, for $3, the report will be electronically transmitted to members' PCs via telephone. Within 10 seconds, the new IntelliCharge feature reads the statement and groups all the transactions into categories, such as clothing, dining, and travel.

Before it's here, it's on the Bloomberg Terminal.