Intuit is shutting down its free budgeting app Mint, which had 3.6 million energetic customers in 2021, Bloomberg reported. The corporate will take up customers into its different service known 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 may 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 in its product blog. The corporate famous that Mint's product workforce and a few options have already shifted over to Credit score Karma.
Mint helps customers handle their funds, 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 deliver the app to thousands and thousands extra customers.
Intuit will shift customers to Credit score Karma (an organization it acquired in 2020), though 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 funds 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 provide the flexibility to set month-to-month and class budgets," as an alternative serving to customers "construct consciousness" of their spending. Nevertheless, Mint's internet price function was just 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’ll additionally obtain or erase any Mint knowledge in the event that they'd relatively not swap.
Some Mint customers on Reddit don't appear thrilled with the swap, with one saying that with out the budgeting function, "Mint is only a glorified checkbook register." Intuit, in the meantime, was recently ordered to pay $141 million for deceiving thousands and thousands of low-income People into paying for tax companies that ought to have been free.
This text initially appeared on Engadget at https://www.engadget.com/intuit-is-closing-down-mint-its-popular-free-budget-tracking-app-054145229.html?src=rss
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