The first option is to migrate your data over to Credit Karma, which is also owned by Intuit. This is the option Intuit encourages. Credit Karma is most known for being a credit score tracking platform. But according to their website, Credit Karma will also offer some “Mint-like” features for free.
Pros
On the one hand, simply moving your data to Credit Karma means you have access to some (but not all) of the features you loved when you were using Mint. This includes tracking your net worth and viewing your category-based spending, cash flow and transactions all in the same place.
You also can use Credit Karma’s features including credit monitoring across two credit bureaus, recommendations on responsible credit use, alerts when there are changes to your credit and more. These added features could help make your money management feel a bit more well-rounded compared to being solely focused on budgeting and spending.
Mint users will also be able to transfer data on most of the account balances they already had connected on the app, their historical net worth and up to three years’ worth of transactions. Assuming this process happens smoothly, users won’t have to do too much of the heavy lifting to re-connect all of their accounts again.
Cons
Keep in mind that this migration won’t happen completely automatically. Mint users will need to wait to receive an email and app notification from Mint when it’s time for them to begin the migration and give consent to having their personal information moved. The notifications will also come as a phased rollout so Mint users won’t all receive the notification at the same time. During this time, users who don’t already have a Credit Karma account will be prompted to create one.
Another point to consider is that Credit Karma won’t have all the same features as Mint. Namely, Credit Karma won’t have the budgeting capabilities that Mint does — a potential deal breaker if that’s the only reason you signed up for Mint.
You should also keep in mind that while Credit Karma provides easy access to your credit score, it isn’t the FICO® score used by most lenders when approving lines of credit. Instead, Credit Karma shows you a score based on the VantageScore® 3.0 model. Both VantageScore and FICO may look at the same credit-determining factors such as payment history and credit utilization, but they weigh these factors differently, which is why your VantageScore may be different from your FICO score.