Interesting letter I got

I got a letter from one of my credit card companies (Intrust) today. I wonder what Intuit thinks about this. Here it is verbatim:

Dear Sir,

As a user of online banking, we want to notify you that the newest version of Quicken - Quicken 2006 - will not allow you to import credit card transactions downloaded from

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Unfortunately, Quicken 2006 does not support the format used by our site. The good news is that prior versions of Quicken and other personal financial management software, such as Microsoft Money 2006, may still be used.

At this time, Intrust strongly recommends that you do not use Quicken

2006 when visiting our site. If you upgrade to this version you will no longer be able to download your Intrust credit card transactions into your Quicken account.

We hope you are enjoying the many features our site offers and we regret any inconvenience this may have created.

Has anybody else received anything like this?

Reply to
Jared
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I would cancel my credit card and get one from a bank that is willing to support the current software version. Plenty of banks will be thrilled to gain the customers these guys are tossing away.

Reply to
Z Man

Translation.

Dear Sir,

Our competetors are offering some very nice features, including the ability to download your transactions to Quicken, not only from their accounts, but from most, if not all, of your accounts, with a single click.

We are unwilling (or unable) to match our competetor's features, so we urge you to throw out the personal financial management software of your choice, and refrain from learning about our competition, so that you can continue to download your transactions with us using our primative, cumbersome, time consuming method.

Reply to
John Pollard

Old news. It's been no secret for over 2 years that Q was going to drop QIF imports. There are plenty of cards what allow direct download into Q. In a few years (2 or 3?), any version of Q that supports QIF won't be able to download at all. This is just a case of a credit card company knowing that they will lose customers if they upgrade and they are trying to make a pre-emptive strike to keep them.

It's your choice..... If you are comfortable for now, don't upgrade. To be honest, it's been a long time since Q had an upgrade that was a "must upgrade". Eventually, though, you'll have to make a decision.

Reply to
Hank Arnold

Basically they are saying: We do not want to raise your interest rate and fees to pay Intuit to use Web/Direct Connect. We do not want to become an Intuit advertising billboard to be allowed to do it for free.

Reply to
Andrew Rossmann

"Jared" wrote in news:GIpSe.4556$Ix4.416 @okepread03:

I agree with all previous replies. Basically, it is your money and how you want to spend it is your decision. Considering that Quicken software is close to the current standard (whether you like that or not), it is *stupid* of Intrust not to follow the leader. How are they improving their service (cost/benefit-wise) by not paying Intuit?

You have to decide what to do. Another option not yet mentioned (I think) is to go to different software - M$ Money, Acemoney, moneydance, gnucash, whatever. Despite all these (I tried in the past both acemoney and moneydance, but couldn't easily get my data transferred), I am staying with Quicken for now - I'll prpbably even sacrifice and get 2006, though 2005 works OK for now.

I have several accounts (bank and CC) that work less than optimally with Quicken. I also have some that work well. For whatever it's worth (FWIW), for higher volume stuff I use Citibank and Discover.

Reply to
Han

Now that was truly funny, John. True, but funny. Thanks for the giggle.

Jared

Reply to
Jared

Yes, I agree. At my house, CCs that do not do direct download to Quicken get closed. There's so many that support direct download, and several of those are reward cards with no yearly fee. So IMNSHO, there's no reason to keep a card that won't do direct download. Even my credit union, which only charges for its bill pay service ($0.25 per bill, no minimum), is about to start offering direct download on all account types.

Regards,

Margaret

Reply to
Margaret Wilson

Then again, I might write my bank a letter thanking them for not knuckling under to expensive Intuit licensing costs...

Reply to
Clark W. Griswold, Jr.

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