| Rocket Money (2024)

FAQs

Does Rocket Money really work? ›

Is Rocket Money legit? Yes, Rocket Money is a legitimate budgeting app that can help you track your spending habits, identify ways to save money and get a better handle on your personal finances. It has a 4.5-star (out of 5) rating on Trustpilot and is accredited by the Better Business Bureau.

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.

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.

Cancel unwanted subscriptions

Rocket Money will end your subscription, even communicating by email, phone call, or snail mail on your behalf. It's that simple. Feel like handling it yourself? Tap the phone or website icon to contact the subscription company on your own.

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.

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.

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.

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.

Rocket Money was originally known as Truebill when it was founded in 2015. The company was acquired in 2021 by Rocket Companies—which also owns Rocket Mortgage, Rocket Loans, and is the issuer of the Rocket Visa Signature® Card. Its name changed in late August, 2022.

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.

How does rocket money know all your subscriptions? ›

Rocket Money will identify recurring payments from your spending and list your subscriptions in one place—as well as when each is due—so you can avoid late fees and overdrafts. But their main feature is that they'll assign you a “concierge” to cancel any duplicate or unwanted subscriptions for you.

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.

Step 1: Submit a bill

Just tap on "Manage" to get started. Step 2: Choose a bill listed there or tap on "Add a bill" and then select the provider. Step 5: Confirm Payment Method - we charge your choice of a percentage of the first year savings as a success fee - you can choose any amount from 35% to 60%.

If you want to save money on unnecessary expenses, it's crucial to address recurring monthly payments for services you don't use. Unused memberships and subscriptions can add up to hundreds of dollars per month. Download the Rocket Money app today to start easily canceling unused memberships and saving money.

Rocket is best known for its mortgages, but Rocket Loans offers fast funding on other types of loans, as well – including unsecured personal loans. Loan money can land in your bank account the same day you apply, but you'll face an origination fee and higher interest rates.