The news this week that Raj Giri’s favourite budgeting app Mint, will be withdrawn in 2024 left him “blown away.”
Giri, a Denver-based entrepreneur who claims to use the app “every day” to check his expenses, says he was “really surprised” by how popular it is. “I’ve just recently begun looking into other apps, but I haven’t yet found one that I really like.”
“It’s really unfortunate that it’s disappearing,” he remarks.
Similar sentiments are expressed by other devoted Mint users on Reddit; it appears that no one can agree upon a free software that provides all of Mint’s budgeting functionality.
Jeremy Gaines, a communications specialist in Washington, D.C., who has been using the app for the past ten years, says his first response to the news was “disappointment.” At the moment, he checks into Mint around twice a week.
He wasn’t shocked, though. He claims that the programme has been “abandoned for years” in part because of what seemed to be a steady stream of progressively fewer software upgrades.
Gaines states, This is what happens when you rely on free services.
Users of Mint are being transferred to Credit Karma:
Inuit, the company that owns Mint, claims that as a part of Intuit Credit Karma—a company well recognised for its credit monitoring services—it is “reimagining” the app. A representative for the firm stated that users are urged to switch to Credit Karma as the Mint app will close on January 1, 2024.
As part of a phased deployment, Mint users will receive notifications via email or the app when they can migrate their account data to Credit Karma, the business reports.
As of 2021, Bloomberg estimated that 3.6 million people were actively using the app.
Sadly for Mint users, though, the company claims that Credit Karma does not presently offer budgeting app in the same manner that Mint app did in the past.
Nonetheless, Credit Karma shares certain characteristics with it. A corporate FAQ states that users are able to see the following:
- A breakdown of monthly expenses by category
- Average amount spent in every category
- The amount that monthly spending has changed from the prior month
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A representative from the firm informed CNBC Make It that most Mint app customers would be able to move their linked financial accounts, historical net worth, and three years’ worth of transactions to Credit Karma by choosing to do so.
The representative stated, “We are giving Mint users plenty of time to get ready for this change, before their access to Mint ends.”
If a Mint user chooses not to sign up with Credit Karma, they can still get a copy of their Mint data by going to accounts.Intuit.com and choosing the “data privacy” option. Additionally, they can ask Intuit to remove their data.