FAQs
Does Rocket Money really work? ›
Yes, Rocket Money can really lower your bills when you use its bill concierge service, which is available on a Premium account. Rocket Money has direct relationships with popular cable, cell phone, and internet companies, allowing them to negotiate your bills to a price you're more comfortable with.
Can Rocket Money actually lower bills? ›Rocket Money also offers a bill-negotiation service in which live representatives call and negotiate your bills for you. This feature comes at an additional cost, but only if the bills are successfully lowered. If so, you'll choose how much to pay on a sliding scale between 30% and 60% of the resulting savings.
Why did Rocket Money charge me? ›While Rocket Money is a free app, there are several optional paid services and features that could result in a charge or transfer appearing on your bank or credit card statement: Smart Savings Deposits: These are not charges, but deposits into a Smart Savings account that's tied to your Rocket Money account.
How does Rocket Money know what subscriptions you have? ›Rocket Money uses advanced algorithms to analyze your transactions and automatically identify your subscriptions and bills. If you are missing subscriptions, first make sure that you have linked the account that you pay the subscription with to Rocket Money.
Does Rocket Money hurt your credit score? ›Checking your credit score within the Rocket Money app is a soft inquiry. This type of inquiry has no impact on your credit score and is not reported to any of the credit bureaus.
Are there better apps than Rocket Money? ›Several alternatives to Mint and Rocket Money are available. Free options include Goodbudget, SoFi Insights, Empower, and Money Manager. Other budgeting apps like YNAB (you need a budget), Quicken Simplifi, Monarch and PocketGuard have a nominal cost.
Which is better, mint or Rocket Money? ›Mint is a budgeting app first and foremost, whereas Rocket Money is a personal finance app with budgeting, credit reporting, and bill negotiation features. This means Mint is more comprehensive for creating custom budgets and managing your spending, but Rocket Money has more features overall.
How much should I pay for Rocket Money? ›The free version of Rocket Money is limited but provides basic budgeting functions like expense tracking that may be sufficient for some users. The paid version, which costs $4 to $12 per month, offers advanced features like custom budget categories, automated savings, and credit report and net worth tracking.
Can Rocket Money lower my AT&T bill? ›Essentially, Rocket Money charges you 30% to 60% of your annual savings in an upfront fee. For example, if Rocket Money lowers your AT&T internet service from $80 to $60 per month, that's $240 in annual savings.
Is it hard to cancel Rocket Money? ›Deleting your Rocket Money Account from our Mobile App:
Tap the Settings (⚙️) icon in the upper left corner of your Dashboard. Select Profile from the side menu. Scroll down to the bottom of the page. Tap Delete my account.
Is there a free version of Rocket Money? ›
Rocket Money is free to use, although there are optional services, such as bill negotiation, that you can opt in to for an extra cost ranging from $6 to $12 monthly.
Is Rocket Money a lawsuit? ›In June, a California resident sued Rocket, alleging that the lender made unsolicited calls and sent text messages to consumers who registered their phones on the DNC registry. Rocket, in response, also dismissed the lawsuit as baseless.
Is Rocket Money actually good? ›Yes, Rocket Money is a legitimate budgeting app operated by the same company as Rocket Mortgages. It uses Plaid to link your financial accounts in one place to help you manage and budget your money. Does Rocket Money's subscription cancellation really work? Yes, it often works.
Can I trust rocket money with my bank account? ›Yes, Rocket Money is safe. It has 256-bit encryption to store data and is partnered with Plaid to securely link your accounts. Rocket Money won't be able to make changes to your accounts, and you have the option to unlink accounts.
What did Rocket Money used to be called? ›Rocket Money (formerly Truebill) is an app that focuses on managing bills and canceling subscriptions. Rocket Money's subscription cancellation service costs money and doesn't work for everything.
Does Rocket Money charge a fee? ›Rocket Money is a free service to use, but we also provide optional paid services to help you save money. Learn about them here! At Rocket Money, we're committed to fostering your financial prosperity.
Which is better, mint or rocket money? ›Mint is a budgeting app first and foremost, whereas Rocket Money is a personal finance app with budgeting, credit reporting, and bill negotiation features. This means Mint is more comprehensive for creating custom budgets and managing your spending, but Rocket Money has more features overall.
How do I get my Money out of rocket money? ›- From your Dashboard, tap the word “Savings” to expand the savings section.
- Tap on the name of your Financial Goal.
- Tap the “Withdraw” button, to the left of the red “Add Money” button.
- Enter the amount you'd like to withdraw.
- Tap “Transfer”