Although Credit Karma offers some of the same features that Mint did, it lacks some important aspects of Mint's functionality. So, you may need a different (or another) budgeting app to manage your finances.

For 16 years, Mint was a popular platform for budgeting and setting financial goals. However, it struggled to become profitable, and Intuit, its parent company, decided to end the service. Intuit urged customers to switch to Credit Karma, which it acquired in 2020. 

Is Credit Karma a Good Replacement for Mint?

Mint was a popular app; at the time its shutdown was announced, it had over 3 million active users. Part of its popularity was its lack of cost: Mint’s budget tracker was free, and𒁏 it easily synced with you♊r bank accounts to track your spending in real time. 

However, it wasn’t profitable enough for Intuit, so the company announced its closure in November 2023 and encouraged users to migrate their accounts to 澳洲幸运5官方开奖结果体彩网:Credit Karma, which it also owns. Users had several months after the announcement to migrate all of their account data to Credit Karma. However, as of May 3, 2024, Intuit no longer offers migration, so you'll have to open a new Credit Karma account from scratch. 

How does Credit Karma measur▨e up to Mint? It shares some of the same features as the now-defunct platform, including: 

• Transaction categories: Credit Karma allows you to connect bank accounts, credit cards, and loans to track your transactions and payments. You can categorize your transactions to see where you spend your money; for example, you can categorize a transaction as "groceries" or "kids." 
• Credit score updates: Credit Karma provides 澳洲幸运5官方开奖结果体彩网:credit scores based on your TransUnion and Equifax credit reports.
• Net worth tracker: Using your connected accounts, including your car loan and property value, you can view your progress as you build your 澳洲幸运5官方开奖结果体彩网:net worth. However, the net worth feature isn't available to everyone yet. 

Credit Karma falls short compared to Mint for many users when it comes to 澳洲幸运5官方开奖结果体彩网:budgeting. Credit Karma doesn't have Mint's beloved budgeting features, so you're unable to set monthly or category budgeting limits. Also, Credit Karma pulls data only from synced accounts, and it doesn't include all financial institutions. It doesn't allow you to manually enter your debt, so you may not get a full picture of your finances.

Alternative Budgeting Apps to Replace Mint

Our picks for the best budgeting apps are likely to offer🍌 the features you need to replace what was lost with Mint.

What to Consider When Choosing a Budgeting App

Credit Karma is free, and it provides some useful features, like credit score monitoring. However, its budgeting tools fall short of those once offered𓃲 by Min🔥t, so you may need another budgeting app to track your spending and set goals. 

Whe🦩n considering your options for budg🦩eting apps, keep these factors in mind: 

• Free trials: Some apps charge a monthly or annual fee, but may offer a free trial to let you try out the platform and discover if it's a good fit for your needs. Free trials can range from one to four weeks, but the app usually charges your credit card at the end, so be sure to make a note of the trial's expiration date. If you're dissatisfied with the platform, cancel your account ahead of the trial end date to avoid being charged. 
• Fees: Like Mint, some platforms are completely free; they make money through 澳洲幸运5官方开奖结果体彩网:affiliate offers. Others charge monthly or annual fees. Look at how the cost fits into your budget, and later on, check if you're using the platform and its features enough to justify the cost. 
• Functions: Functionality and features vary by platform, from real-time transaction tracking to goal-setting. Some platforms are comprehensive, allowing you to view your investments, savings, spending, and debt in one place, while others have a more limited focus. And, while some allow you to manually add your details, others only populate information from partnering institutions. 
• Security: Budgeting apps require you to provide personal details like your bank account numbers, credit card log-in information, and debt, so security is key. Look for companies with strong security features, such as military-grade encryption. 
• Other perks: Some platforms offer added benefits and perks, such as credit score monitoring, rewards checking accounts, automated subscription cancellation, and cash advances. 
• Compatibility: Some platforms only allow you to track information from partner institutions. If you have accounts with smaller regional banks or credit unions, or with banks overseas, you may not be able to add your information. 

Frequently Asked Questions (FAQs)

The Bottom Line

Is Credit Karma a good replacement for Mint? That depends on what you hope to get out of a personal finance app. Credit Karma has some useful features, such as credit score monitoring, but it doesn't have Mint's robust budgeting functions, so devoted Mint users may find the platform limited. If that's the case for you, another budgeting app that allows you to create subcategories and monthly spending goals may be a better choice.