MENLO PARK, Calif.--(BUSINESS WIRE)--Quicken Inc. is launching a co-branded Mastercard credit card issued by U.S. Bank, the first credit card designed to help manage spending, budgeting and planning with unique integration into Quicken software. Unlike other cards, the new Quicken credit card allows cardholders to manage their finances more precisely with real-time updates in the Quicken mobile app to continuously monitor progress towards their financial goals.
A 2018 survey of Quicken users revealed that nearly 70% of monthly expenses were paid for by credit card, and that groceries and restaurant spending make up 50% of that total spend. The Quicken® World Mastercard was designed in response to this data by rewarding Quicken customers for everyday and recurring expenses. These rewards, combined with the unique Quicken integration, supports customers in managing their finances for a healthy financial future.
“We worked closely with U.S. Bank to create the first credit card that rewards Quicken users for managing their finances effectively,” said Daniel A. Chen, Head of Business Development at Quicken. “The Quicken World Mastercard is a new finance tool on your phone and in your wallet. With the card and the Quicken mobile app, users will track spending better, earn meaningful rewards on everyday purchases, and ultimately reach their financial goals faster.”
The Quicken credit card is the first and only card to provide real-time transaction notifications in the Quicken mobile app, and offers integration with Quicken desktop keeping your finances up-to-date whether at home or on the road. The card will also be enabled for contactless payments, so cardholders can make everyday purchases quickly and safely with just a tap — wherever they see the universal contactless symbol.
“We put our clients at the center of our business, and in this case, it was to assist Quicken in its mission to help individuals create healthy financial habits,” said John Steward, president of U.S. Bank Retail Payment Solutions. “The Quicken World Mastercard supports mindful spending with every purchase by keeping cardmembers aware of their spending across all of their personal financial categories.”
Benefits of the Quicken® World Mastercard® include:
- Earn 2X1 points on qualified net spending on purchases you already make, like groceries, dining out, utilities, cell phone service, cable, internet, club memberships, and even your Quicken software subscription
- Free Quicken Deluxe Subscription: Spend $500 in the first 90 days and receive one year of Quicken Deluxe2. If you are already a subscriber, you will receive a one-year extension
- No monthly or annual fees
- Mastercard features like Boingo Wi-Fi, Cellular Protection Plan, Rideshare Insurance for lost items, and Concierge Service3
- Zero Fraud Liability4
- Contactless Payment
- Masterpass digital wallet to check out quickly and securely at millions of retailers
“Consumers today want a card with a rich suite of benefits, and the Quicken World Mastercard not only rewards cardholders for spending, but provides access to features that will make managing their finances easier and more effective,” said Sherri Haymond, executive vice president, Digital Partnerships, Mastercard. “We are proud to partner with Quicken and help power such a unique offering.”
For more information about how to apply for the Quicken® World Mastercard® credit card, including terms and conditions, visit quicken.com.
About Quicken
For over 30 years customers have relied on Quicken to help manage their complete financial picture, so they can live their best lives. In 2016, Quicken became a fully independent company led by members of the early Quicken team to help a new generation of customers make the most of their money. Today Quicken is the best-selling personal finance software in the US. We have expanded our lineup to include Quicken on the Web and the Quicken Mobile App for iOS and Android so customers can manage their finances anytime, anywhere. More information can be found at quicken.com.
About U.S. Bancorp
U.S. Bancorp, with 74,000 employees and $465 billion in assets as of September 30, 2018, is the parent company of U.S. Bank, the fifth-largest commercial bank in the United States. The Minneapolis-based bank blends its relationship teams, branches and ATM network with mobile and online tools that allow customers to bank how, when and where they prefer. U.S. Bank is committed to serving its millions of retail, business, wealth management, payment, commercial and corporate, and investment services customers across the country and around the world as a trusted financial partner, a commitment recognized by the Ethisphere Institute naming the bank a 2018 World’s Most Ethical Company. Visit U.S. Bank at www.usbank.com or follow on social media to stay up to date with company news.
About Mastercard
Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Our global payments processing network connects consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
1Rewards are earned on eligible net purchases. Net purchases are purchases minus credits and returns. Not all transactions are eligible to earn rewards, such as Advances, Balance Transfers and Convenience Checks. Upon approval see your Cardmember Agreement for details.
2To receive this free one-time, one-year subscription, you must apply and be approved and make a purchase or purchases totaling $500 in eligible net spend or more with your new Quicken World Mastercard within 90 days of account opening. Advances, as defined in the Cardmember Agreement (including cash advances, convenience checks, balance transfers), interest charges, fees, credit insurance charges, or transactions to fund certain prepaid card products are not eligible. 6 to 12 weeks after qualifying Net Purchases are made, the one-time, one-year subscription activation code will be sent to you via email along with instructions on how to activate your Quicken subscription. Cardmembers who already subscribe to Quicken Deluxe, Quicken Premier, or Quicken Home & Business and who satisfy the purchase requirement will receive a free one-year extension of their current subscription. The offer is subject to credit card approval, and your new Quicken World Mastercard must be open and in good standing at the time of purchase and fulfillment to receive the one-time free subscription. This free subscription offer is available only to new Quicken World Mastercard Accounts booked through this special offer. Existing and previous cardmembers are not eligible for this offer.
3Certain conditions and limitations may apply. Please refer to the Guide to Benefits that comes with your card for further details.
4U.S. Bank provides zero fraud liability for unauthorized transactions. Cardholder must notify U.S. Bank promptly of any unauthorized use. Certain conditions and limitations may apply.