Is Mint Shutting Down? What Happened to Intuit Mint?
by T Santhosh
Updated Nov 03, 2023
Is Mint Shutting Down?
Yes, Mint, the budgeting app, is indeed shutting down. Intuit, the company that owns Mint, has announced that the app will be discontinued on January 1st, 2024. Instead of using Mint, Intuit is encouraging users to transition to Credit Karma, another service they own. However, it's important to note that while Credit Karma offers similar features to Mint, such as tracking transactions and monitoring credit, it may not have the same budget tracking tool that many Mint users rely on.
Mint has been a popular app since it was acquired by Intuit in 2009. It provided a free and convenient way for users to manage their budgets, track expenses, negotiate bills, and keep an eye on subscriptions. While Credit Karma does offer some financial management features, it doesn't currently include the ability to set monthly and category budgets, which Mint users have found valuable.
In response to this change, Intuit is offering Mint users the option to transfer their accounts to Credit Karma by logging in from the Mint app. After that, Mint profiles will no longer be accessible. Users who prefer not to move to Credit Karma can also download and delete their Mint data. Intuit is giving Mint users ample time to prepare for this transition, which has been in the works for some time. Mint had 3.6 million monthly active users as of 2021, but its development had slowed down in recent years. This move aims to streamline services and provide a more integrated experience for users.
Mint App Shutting Down
The Mint app, a popular tool for budgeting and financial management, is shutting down. Its parent company, Intuit, has made the decision to discontinue Mint, and the official shutdown date is set for January 1st, 2024. This means that after this date, the Mint app will no longer be available for use.
Intuit, which acquired Mint in 2009, is planning to merge Mint's functionality into another service it owns, Credit Karma. While Credit Karma offers some similar features, like tracking transactions and monitoring credit, it doesn't provide the same budget tracking tools that many Mint users have come to rely on. This transition may pose some challenges for Mint users who have been using the app for managing their budgets, tracking expenses, and monitoring their financial health. Intuit is encouraging Mint users to move to Credit Karma, where they can access Credit Karma's suite of products, features, and services. However, the change has sparked questions about whether Credit Karma will eventually incorporate Mint's budget tracking features.
Intuit is giving Mint users time to prepare for this transition, and they can transfer their accounts to Credit Karma by logging in from the Mint app. After the shutdown date, Mint profiles will no longer be accessible. Users who prefer not to make the switch to Credit Karma can also download and delete their Mint data. This change reflects Intuit's efforts to streamline its services and provide a more integrated experience for its users, although it's important to consider how these changes may impact Mint users who have relied on the app for their financial management needs.
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Intuit Mint Closing
Intuit, the company that owns the popular budgeting app Mint, has announced that it will be closing down Mint. This decision has left its 3.6 million active users from 2021 in search of alternatives as Mint is set to disappear on January 1, 2024, which is less than two months away.
Intuit's plan is to transition Mint users to its other service, Credit Karma, which it acquired in 2020. Credit Karma offers a range of financial tools, including transaction viewing, credit monitoring, and account tracking. However, it lacks some of the budget tracking features that have made Mint so appealing to users. Mint has been a valuable tool for helping users manage their budgets, track expenses, and avoid late fees on subscriptions and bills. Intuit's acquisition of Mint in 2009 aimed to expand its user base and bring these financial management features to a wider audience.
The transition to Credit Karma may not be seamless for all Mint users, as it lacks certain budgeting functionalities. Intuit has mentioned that the "new experience in Credit Karma does not offer the ability to set monthly and category budgets" but rather focuses on helping users "build awareness" of their spending. It's worth noting that Mint's net worth feature has been integrated into Credit Karma. To make the transition as smooth as possible, Mint users are encouraged to transfer their accounts by logging into Credit Karma from the Mint app. After the transition, they will no longer have access to their Mint profiles. Users also have the option to download or delete their Mint data if they prefer not to make the switch.
This change has received mixed reactions, with some Mint users expressing their disappointment, particularly regarding the loss of budgeting features. Nevertheless, the move by Intuit to close Mint and encourage its users to migrate to Credit Karma reflects the company's broader strategy and direction in the financial services sector.
Intuit Mint Credit Karma
Intuit, the company behind the popular budgeting app Mint, has announced that they will be closing down Mint on January 1, 2024. This decision has raised concerns among the millions of users who rely on Mint for managing their finances. In their announcement, Intuit mentioned that they are "reimagining Mint" as part of their other service, Credit Karma, which is also owned by Intuit. This means that Mint users will no longer have access to their accounts starting on the specified date or earlier if they decide to migrate to the Credit Karma app before the shutdown.
While some features, like spending and net worth tracking, will still be available in Credit Karma, key functionalities such as setting monthly budgets and customized categories will not be carried over. It remains uncertain whether these features will eventually be integrated into Credit Karma. The silver lining is that the shutdown of Mint is not immediate. Intuit has provided Mint users with what they call "ample time" to prepare for this change. This transition period gives users two months to retrieve their financial data from Mint and seek out alternative budgeting tools, although some users may feel that this window of time is relatively short.
To ease the transition, users are encouraged to safeguard their data by downloading their existing Mint transaction data, which can be saved as an Excel spreadsheet or by taking screenshots of useful charts and insights. Additionally, users should make a list of the Mint features they use most frequently or find most valuable. This list can be a valuable reference when exploring other budgeting apps and services as potential replacements.
Mint App
Mint, also known as Intuit Mint, is a website and mobile app created by Aaron Patzer and now owned by Intuit, Inc., a company famous for products like TurboTax and QuickBooks. Originally called Mint.com, it was designed to help people manage their finances in the US and Canada. Mint's primary service offers a user-friendly way to keep track of their bank accounts, credit cards, investments, loans, and transactions all in one place. It also helps users create budgets and set financial goals. At its peak, Mint claimed to connect with over 16,000 financial institutions in the US and Canada, serving more than 17 million individual financial accounts by 2010 and over 20 million users by 2016.
One key feature that sets Mint apart is its ability to retrieve financial data by asking users to provide their bank account and credit card details. This has raised concerns about data security, as these details are stored in a format that can potentially be decrypted. However, to mitigate the risk, some banks offer access codes for read-only data sharing, reducing the exposure of sensitive information.
In the past, there have been disputes and concerns over data sharing with banks, but in some cases, agreements have been reached to ensure the protection of users' data. Nevertheless, Intuit, the company that owns Mint, has decided to shut down the service by January 1, 2024, leaving its users to find alternative solutions for their financial management needs.
Is Mint Shutting Down? - FAQs
Yes, Mint is shutting down on January 1, 2024.
Mint's parent company, Intuit, is making this decision to streamline services and encourage users to transition to Credit Karma, another service they own.
Yes, Mint users have the option to transfer their accounts to Credit Karma by logging in from the Mint app.
Credit Karma currently lacks some of the budget tracking features that Mint provides, and it's uncertain if these features will be integrated in the future.
Mint users have a two-month transition period to gather their financial data and explore alternative budgeting tools.