Innovative Thinking

Personal Financial Assistant to Help Consumers Manage Finances

Intuit Completes Acquisition of Credit Karma Staying on top of your finances is top of mind for most of us every day. During the past several months of the global pandemic, these concerns have been even more important and the need for someone to help make sense of it all is more crucial than ever.

Written by Intuit Blog team
Published Dec 3, 2020 - [Updated Nov 9, 2022]
2 min read

Intuit Completes Acquisition of Credit Karma

Staying on top of your finances is top of mind for most of us every day. During the past several months of the global pandemic, these concerns have been even more important and the need for someone to help make sense of it all is more crucial than ever.

Today, Intuit and Credit Karma are officially joining forces to provide access to the tools, experts and advice that will make it simple for consumers to make better decisions with their money and take control of their financial lives. This brings us one step closer to offering a personal financial assistant that powers prosperity around the world.

This combination of trusted brands will support customers during a time in which the challenges of a global pandemic have made their personal finance needs even more critical. Currently, 62% of consumers are living paycheck-to-paycheck, 75% of Americans have concerns about their ability to pay bills and loans, and 33% of Americans have lost income during the pandemic. These challenges add even greater urgency to Intuit’s and Credit Karma’s shared goal of delivering a personal financial assistant to help consumers save, pay down debt and get faster access to money.

By coming together, our two companies can do more for our customers than we could ever have done separately. Together, we will accelerate our innovation so that consumers, including Intuit’s current 57 million customers and more than 110 million Credit Karma members, will quickly see benefits to help them make ends meet, save more and get out of debt. Consumers will find the right financial products including unparalleled offers on credit cards, loans and insurance. At the same time, we will help enable them to maximize their tax refund and connect them to high-yield savings accounts and checking accounts, providing them faster access to their money. Consumers will also get access to financial expertise and advice to help them make better financial decisions and build wealth.

We could not be more excited to get to work to help people around the world get control of their financial lives and prosper.

For more information, visit our investors website.