Quicken, U.S. bank to offer Mastercard for financial management
Quicken and U.S. Bank are launching a co-branded contactless credit card that will integrate with Quicken's personal finance software and mobile app.
The Quicken World Mastercard is Quicken's first agreement to help users manage their personal finances, including spending, budgeting and financial planning through a card integrated to its mobile app.
The card will also feature the Masterpass digital wallet as a mobile payment option.
"The card is a new finance tool on your phone and in your wallet," Daniel Chen, head of business development at Quicken, said in a Thursday release. "With the card and the Quicken mobile app, users will track spending together, earn meaningful rewards on everyday purchases, and ultimately reach their financial goals faster."
In citing a need for a personal finance card, Quicken noted results from a 2018 survey it conducted showing about 70 percent of monthly expenses are paid by credit card — and groceries and restaurant spending make up about 50 percent of that total.