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Mint asks users to provide both the usernames and the passwords to their bank accounts, credit cards, and other financial accounts, which Mint then stores in its databases in a decryptable format. This raised concerns that if the Mint databases were ever hacked, both usernames and passwords would become available to rogue third parties.
Credit Karma reached a settlement with the FTC and stated that the company is paid only when users are approved for products like credit cards. [27] In November 2023, Intuit announced that the financial service Mint would be shut down and integrated with Credit Karma in January 2024. [28]
When you close a credit card account, you reduce your total available credit. This may increase your credit utilization ratio, which can decrease your credit score. Here’s an example:
Tuomas Marttila/Getty ImagesCutting up your cards might do more harm than good. By Jenna Lee Do you remember your first credit card? Whether a salesperson on your college campus convinced you to ...
Closing a card quickly after opening it tells potential lenders that you’re a higher risk for credit churning — or opening (and closing) cards solely to earn introductory offers. It could ...
Closing a credit card can be the right choice under some circumstances, but there are some misconceptions about how a closed account could impact the age of your credit’s length of age and by ...
Closing an inactive credit card account decreases the amount of credit available to you and can have a negative impact on your credit score. However, closing unused credit card accounts can help ...
In these cases, closing your old card, your new balance transfer card or even both cards may be best for you. Just keep in mind that you may see a dip in your credit score as a result.