NOTE: This card is no longer available.
Intuit, makers of Quicken financial software, offer a Quicken Rewards Visa in partnership with Chase that could be useful if you regularly use Quicken products and services, but is probably not the best choice for most people. Our overview / review of the card is below:
While the Quicken credit card won’t make sense for most people over the long haul, it does offer one big perk that is probably the main reason you’d sign up: a $60 statement credit after your first purchase with the card. In other words, if you buy some Quicken software and sign up for the card, you’ll essentially get a $60 discount. That’s nothing to sneeze at.
But what about after that upfront bonus? Is it worth opening a new credit line just to get that discount?
Well, the card does offer other rewards, and, being a Visa card, it is accepted widely. The full rewards offering gives you points for every purchase you make with the card, as follows:
- 5 points per dollar spent on purchases at Quicken.com, Intuit.com, TurboTax.com and QuickBooks.com
- 2 points per dollar on purchases at drug stores, gas stations, office supply stores, and restaurants
- 1 point per dollar on purchases everywhere else.
The points you earn are essentially worth a penny each, so 5000 points would equal $50 in rewards, etc.
Although we question whether many people are buying Quicken products often enough to get many of these 5-point rewards, the rest of the rewards formula is not bad. However, in our opinion, there are probably better options for most people — see our Cash Back Credit Cards section to compare the Quicken credit card with other cash rebate cards.
The Quicken Rewards Visa has a 15.24% interest rate, which is reasonable for a rewards credit card in today’s market. There is no annual fee for the card.
If you’d like to apply for the Quicken credit card, you’ll find an online application here. The card’s Web site says that in many cases you’ll get “instant approval” in as little as 15 seconds.