Mint, the budgeting app owned by Intuit, is shutting down. Intuit announced on Tuesday that Mint will get absorbed into Intuit’s other service, Credit Karma, when it officially goes away on January 1st, 2024 (via Bloomberg). But it’s still not clear whether Credit Karma will get the budgeting features that Mint is known for.
Intuit first acquired Mint in 2009, an app that has offered a free way for users to track their budgets, manage expenses, negotiate bills, and keep tabs on subscriptions. Now, Intuit is inviting users to Credit Karma, a service that the company acquired in 2020.
While Credit Karma offers similar features, like the ability to view transactions, track spending, aggregate financial accounts, and credit monitoring, it still doesn’t come with the same budget tracking tool that many people specifically use Mint for, and it’s not clear whether Credit Karma will ever adopt it.
On a support page on Credit Karma’s website, Intuit says “the new experience in Credit Karma does not offer the ability to set monthly and category budgets,” adding that the app instead “offers a simplified way for you to build awareness of your spending, and track your savings.”
Earlier this year, Credit Karma added one of Mint’s key features: the ability for users to track their net worth. Intuit says Mint users can transfer their accounts by logging into Credit Karma from the Mint app. From then on, Intuit says users will no longer be able to access their Mint profiles. Users can also download and delete their Mint data if they don’t want to move to Credit Karma.
“We’re excited to welcome all Intuit Mint users to join Intuit Credit Karma where they will have access to Credit Karma’s suite of products, features, tools and services,” Credit Karma spokesperson Emily Donahue says in a statement to The Verge. “We are giving Mint users ample time to prepare for this change, before their access to Mint ends.”
This change seems to have been in the works for quite some time now, as Mint users across Reddit have seen prompts to migrate to Credit Karma over the past few weeks. Mint had 3.6 million monthly active users as of 2021, Bloomberg reports, but the app’s development has slowed down considerably in recent years, with the last major updates being new categorization features and the ability to connect the Apple Card to Mint.
Update November 2nd, 11:16AM ET: Added a statement from a Credit Karma spokesperson.