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Intuit to close Mint, migrate users to Credit Karma

Intuit is shuttering its personal finance unit Mint and inviting users to switch over to its Credit Karma platform.

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Intuit to close Mint, migrate users to Credit Karma

Editorial

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Budgeting app Mint will be killed off on 1 January, with users invited to migrate their data to Credit Karma.

Intuit acquired Mint in 2009 for around $170 million, offering users a way to track budgets and subscriptions and manage expenses.

In 2020, Intuit made another acquisition, paying $7 billion for credit scoring firm Credit Karma.

Last year, the Mint team was integrated into Credit Karma as Intuit looks to combine the former's money management products with the latter's technology and product ecosystem.

At Credit Karma, Mint users will still be able to monitor their cash flow and track their spending and net worth.

Credit Karma will also use customer data to do things like suggest people use a different credit card to maximise their rewards opportunities or flag when they’re about to be in a cash crunch.

However, users will no longer have the ability to set monthly and category budgets, instead getting a "simplified way for you to build awareness of your spending, and track your savings".

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