| Rocket Money (2024)

FAQs

Is Rocket Money app legit? ›

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.

Rocket Money offers a free trial for seven days but then charges a subscription. However, you get to choose how much you want to pay: $4 or $5 per month when billed annually for a total of $48 to $60 per year, or $6 to $12 per month if you'd rather pay monthly.

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.

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.

Is Rocket Money safe? Rocket Money utilizes the same security technology as banks do including 256-bit encryption. Its partner, Plaid, is trusted by many prominent fintech companies including Venmo. In short, Rocket Money is about as safe as any online financial service can be.

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.

Rocket Money charges 30–60% of the amount they help you save for the year. So, let's say they negotiate your phone bill to a lower price and save you a total of $175 for the next year. That means you'd have to pay them an upfront fee of anywhere from $50–105 . . . to do something you could've done yourself!

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.

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.

It used to be called Truebill until Rocket Companies acquired it and changed its name. Rocket Money does plenty to help you get a handle on your money, and it's one of the best personal finance apps we've tested.

FAQs. Is Rocket Money legit? 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.

One of the main features of Rocket Money (formerly Truebill) offers is the ability to find and cancel subscriptions you no longer use. To do this, TrueBill links to your bank accounts and analyzes your transactions for subscriptions.

At Rocket Money, we offer flexible pricing options for our Premium Membership to ensure it fits within your budget. The membership is available from $4 to $5 per month when billed annually ($48 or $60 in total) or $6 to $12 per month when billed monthly.

EveryDollar helps you organize your income and expenses in a way that makes sense for you while guiding you in creating spending categories, savings goals, and plans for future-proofing your finances. EveryDollar is also one of the best budgeting apps for people who want to improve their financial literacy.

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.

You are only able to withdraw settled deposits from your savings plan within the Rocket Money app. Managing this feature is not available on our website. Money deposited into a savings plan can only be withdrawn to the same checking account which it came from.

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.