![]() ![]() ![]() ![]() That said, we’ve seen a huge influx of beta signups since the news, so I for one am thrilled. Jess Manno responded to Intuit’s tweet with “ok but can I transfer my data from mint? I don’t wanna lose track of all my progress.”Īgostino told TechCrunch that Monarch does provide the ability to import Mint data so that users can try out Monarch and still “preserve their financial history.”Īnd Shawn Adrian, co-founder of spend tracking app Cheddar, tweeted that he had previously worked at a personal finance startup called Wesabe in 2008, and that “it was actually hard to compete with Mint.” TechCrunch spoke to Wesabe’s co-founder Marc Hedlund about that very topic in 2010.Īdrian said via direct message that “Intuit must be absolutely banking cash to view our largest competitor, Mint, as a languishing side project. Meanwhile, when Intuit told customers earlier this week that Mint would be incorporated into Credit Karma, customers took to Reddit and social media to ponder what they will do instead and ask for recommendations for other apps. When an app is ad-supported, the needs of the advertisers are prioritized over the needs of the users, ultimately defeating the whole purpose.” Moreover, users sign up for these apps with the hopes of improving their financial life. A free personal finance app is simply not a viable business due to the high costs required for financial data aggregation. “When we started Monarch, my goal was to ‘fix’ many of the things I felt were broken at Mint,” Agostino told TechCrunch via email. Agostino made a similar observation in his blog post, noting that “if you’re Intuit, it doesn’t make sense to keep investing in both of these consumer platforms, so I’m not surprised they’re shutting Mint down and consolidating on Credit Karma.” ![]() Mint's announcement originally stated that the app would be shut down on January 1, 2024.Following the Credit Karma acquisition, Fast Company reported that Mint’s development seemed to slow down. Update, December 7 2023, 3:20PM ET: This story has been updated to include a statement from an Intuit spokesperson, who confirmed to Engadget that Mint will be available until March 24, 2024. Some Mint users on Reddit don't seem thrilled with the switch, with one saying that without the budgeting feature, "Mint is just a glorified checkbook register." Intuit, meanwhile, was recently ordered to pay $141 million for deceiving millions of low-income Americans into paying for tax services that should have been free. They can also download or erase any Mint data if they'd rather not switch. Mint users will be able to transfer their accounts by logging into Credit Karma from the Mint app, after which they'll lose access to their Mint profiles. However, Mint's net worth feature was recently ported over to Credit Karma. Then follow the prompts to sync your accounts. Intuit specifically notes on a support page that "the new experience in Credit Karma does not offer the ability to set monthly and category budgets," instead helping users "build awareness" of their spending. Start by using your email to register on its website or on the app and create a password. Credit Karma is more like a banking app that lets users view transactions, monitor credit and see multiple accounts, but lacks the budget tracking features that make Mint attractive to many. Intuit will shift users to Credit Karma (a company it acquired in 2020), even though they're not exactly the same. Intuit acquired the company in 2009 for $170 million, with Mint saying the acquisition would help bring the app to millions more users. Mint helps users manage their budget, track expenses and keep track of subscriptions and monthly bills so you don't pay late fees. ![]()
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