Intuit is shutting down its free budgeting app Mint, which had 3.6 million lively customers in 2021, Bloomberg reported. The corporate will soak up customers into its different service referred to as Credit score Karma when Mint disappears on January 1st, 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 providers, together with a few of Mint’s hottest options," Mint wrote in its product blog. 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 price range, observe bills and maintain observe of subscriptions and month-to-month payments so that you don't pay late charges. Intuit acquired the corporate in 2009 for $170 million, with Mint saying the acquisition would assist convey the app to tens of millions extra customers.
Intuit will shift customers to Credit score Karma (an organization it acquired in 2020), despite the fact that they're 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 price range monitoring options that make Mint enticing to many. Intuit particularly notes on a support page that "the brand new expertise in Credit score Karma doesn’t supply the power to set month-to-month and class budgets," as a substitute serving to customers "construct consciousness" of their spending. Nevertheless, Mint's internet price characteristic was lately ported over to Credit score Karma.
Mint customers will be capable to switch their accounts by logging into Credit score Karma from the Mint app, after which they'll lose entry to their Mint profiles. They will additionally obtain or erase any Mint knowledge in the event that they'd slightly not change.
Some Mint customers on Reddit don't 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 recently ordered to pay $141 million for deceiving tens of millions of low-income People into paying for tax providers that ought to have been free.
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