Intuit is shutting down its free budgeting app Mint, which had 3.6 million lively customers in 2021, Bloomberg stories. The corporate will take in customers into its different service known as Credit score Karma when Mint disappears on January 1, 2024 — lower than two months from now.
“Credit score Karma is thrilled to ask all Minters to proceed their monetary journey on Credit score Karma, the place they are going to have entry to Credit score Karma’s suite of options, merchandise, instruments and companies, together with a few of Mint’s hottest options,” Mint wrote on its product weblog. The corporate famous that Mint’s product crew and a few options have already shifted over to Credit score Karma.
Mint helps customers handle their finances, observe bills and hold observe of subscriptions and month-to-month payments so you do not pay late charges. Intuit acquired the corporate in 2009 for $170 million, with Mint saying the acquisition would assist carry the app to hundreds of thousands extra customers.
Intuit will shift customers to Credit score Karma (an organization it acquired in 2020), regardless that they are not precisely the identical. Credit score Karma is extra like a banking app that lets customers view transactions, monitor credit score and see a number of accounts, however lacks the finances monitoring options that make Mint enticing to many. Intuit particularly notes on a help web page that “the brand new expertise in Credit score Karma doesn’t supply the power to set month-to-month and class budgets,” as an alternative serving to customers “construct consciousness” of their spending. Nonetheless, Mint’s web value characteristic was just lately ported over to Credit score Karma.
Mint customers will be capable of switch their accounts by logging into Credit score Karma from the Mint app, after which they’re going to lose entry to their Mint profiles. They’ll additionally obtain or erase any Mint knowledge in the event that they’d quite not change.
Some Mint customers on Reddit do not appear thrilled with the change, with one saying that with out the budgeting characteristic, “Mint is only a glorified checkbook register.” Intuit, in the meantime, was just lately ordered to pay $141 million for deceiving hundreds of thousands of low-income Individuals into paying for tax companies that ought to have been free.
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