| Rocket Money (2024)

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.

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.

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.

The complaint alleges that the manipulative design of Rocket Money's interface and its misleading representations to consumers are unfair, deceptive, and abusive practices under the Dodd-Frank Act.

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.

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.

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.

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 a free service to use, but we also provide optional paid services to help you save money. Learn about them here!

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.

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.

If you have connected a credit card, the spending on that card is already being displayed on the Spending tab. Therefore, we don't want to count the actual payment of the card as an expense as well because it would be double counting.

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.

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.