Quicken credit card (Visa) rewards program honest opinion?

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Quicken credit card (Visa) rewards program honest opinion?

Postby ivorydove » Fri Sep 02, 2011 2:04 pm

I use Quicken for my taxes and logged on today to see they have a new credit card out issued by Chase. I know the rewards program doesn't beat the cards with annual fees but for not charging anything it looks to be an incredible value.

  • There are 4 categories that pay 2 points per $1 and those are gas stations, pharmacies, dining and office supply stores.
  • For purchases from Quicken and their products like TurboTax.com its 5 points per $1. This category is good but I realized my Discover card gives 12-15% cash back for the TurboTax website and that's what I use.
  • Everything else is 1 point.
Then you also get $30 if you apply for the Quicken credit card and are approved. Compared to the other no annual fee offers on the market do you think this is the best deal if I want consistent rewards year round?

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Postby CCG » Tue Sep 06, 2011 1:48 pm

Let's review the Quicken card's rewards program for a comparison.
[imga=Quicken credit card rewards program"]http://creditcardforum.com/images/cards/misc/quicken-credit-card-rewards.png[/imga]

  • For cash rebates, to get 1 penny per point you will need to redeem in increments of $100. However you can still get the same value with $50 gift cards.
  • The rewards value on the TurboTax and Quicken products is great, equaling out to be a boost of 15% to 20% (i.e 5,000 points for $59.95 TurboTax Deluxe). Though on the flip side as you pointed out, you can usually find coupon codes during tax season and many credit card shopping programs, such as ShopDiscover, give 10% or more cash back at TurboTax.com.
  • The airline ticket options have the potential to give above 1 cent per point. However one must subtract the $15 fee for booking through Maritz. This is a good option if the price of the airline ticket is very close to the upper end of a tier.
  • A maximum of 60,000 points can be earned per year with the Quicken credit card.

This card could be a great choice if you spend significantly in those 4 categories which give 2x points. The 60,000 point rewards ceiling won't be a problem for most people. The 5x points at Quicken is great but that would probably benefit businesses (which spend a lot through them) versus the typical individual. You may also wish to review the Blue Cash Preferred and Everyday which give high cash back in some of these categories, too. Good luck!


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