Our Rocket Money Review (formerly Truebill): Is Rocket Money Safe?

Nowadays, there’s no limit to the number of subscriptions you can get. It feels like we’re constantly paying for something from Netflix to Spotify to Amazon Prime.

And if you don’t keep track of your subscriptions, they can add up!🤑💸

That’s where Rocket Money comes in.

Rocket Money is a subscription management app that helps you keep track of your subscriptions, cancel the ones you don’t want, and even get refunds for subscriptions you forgot to cancel.💸💸

But is Rocket Money safe? In this article, we’ll talk about Rocket Money, previously known as Truebill. We’ll also tell you if we see Rocket Money fit for most people or if you can work with better alternatives.


👍It’s free
👍Easy to use
👍Saves money on budgeting
👍Organizes your bills and subscription
👍Helps you monitor monthly spending


👎Free plan has limited features
👎Takes a cut from your successful negotiations

What is Rocket Money?💰💰🚀🚀

Rocket Money is a bill negotiation and settlement service. It is a free online tool that helps you to save money on your outstanding bills and improve your financial situation.🚀🚀

It also helps you monitor your subscriptions, set up payment plans, and track your spending. Rocket money is a great way to stay on top of your finances and save money in the long run.

While the free plan only has basic features, the Premium version has plenty of advanced perks. Rocket Money claims it has more than 3.4 million users and has saved them more than $245 million.💸💸

So, you can use this program to monitor your spending, keep track of your bills, and save money.

How to use Rocket Money 🚀🚀

Before you can use any kind of financial tool, you need to understand how it works. So, let’s take a look at the working mechanism of Rocket Money.

1. Signing up💻💻

The first step is to sign up for Rocket Money. You can do so by providing your email address and creating a password.

Remember that Rocket Money will ask for personal information such as your name, address, and date of birth.💬💬

You will also need to provide your Social Security number so that the program can access your credit report.

Don’t worry, Rocket Money is a secure website, and your information will be safe.📱🔒

2. Connecting your bank account/s

Once you have signed up, you need to connect your bank account/s to Rocket Money.

This is so the program can see your outstanding bills and track your spending. You can connect as many accounts as possible, which is pretty straightforward.💰💰

All you need to do is enter your bank’s login information, and Rocket Money will take care of the rest.

3. Negotiating your bills📄📄

Now that your accounts are connected, it’s time to start negotiating your bills.

Rocket Money will scan your accounts and find any outstanding bills that you may have.

Once it has found your bills, you will need to select which ones you want to negotiate. After that, you will need to provide some information about your situation.📄📄

With this information, Rocket Money can come up with an offer on your behalf.

For example, let’s say you have a $100 bill from your electric company. Rocket Money may offer to pay the electric company $50 on your behalf.💵💵

If the electric company accepts the offer, you will only need to pay Rocket Money $50.

How to manage your bills with Rocket Money

Rocket Money differs from other budgeting apps in a few key ways. To understand that, you must look at the features of this app.

The most crucial feature of Rocket Money is bill negotiation. This is a process where you work with your creditors to lower your monthly payments.💵💵

Rocket Money works with major home security providing, cable, and cell phone companies. So, it will negotiate on your behalf to get you a lower monthly bill.🤑🤑

It’s an important feature because it can save you hundreds of dollars annually.

According to the company, it negotiates a lower bill in 85% of the cases. Here’s how the process goes:

Step 1: Selecting the bill

First, you must choose which bill you want to negotiate. Then, you can either do it through the app or the website.

Suppose you have an outstanding phone bill of $200.💵💵

Step 2: Connecting the Bill

You have to add the bill to your account on Rocket Money. Whichever bill you’ve selected, the company will need some information to connect it to your account.

For example, they’ll need your name, address, and account number.💲💲

Step 3: Selecting preferences

If you have any preferences for bill negotiation, you should let the company know in this step. For example, suppose you have an Internet service that gives you calling minutes.

You might want to keep that service because it’s important for you to have calling minutes. So, you’ll mark it as an important thing.

Or, you can let the company know you’re willing to let go of certain features if that helps lower your bill.📄

Step 4: Confirming payment

If Rocket Money manages to lower your bills, it will charge anywhere from 30% to 60% of the total savings. You can pay this amount through the app.📱

The company will then take care of the rest and pay your bill.📱💬

Let’s explain this whole process with an example. Suppose your phone bill for the month is $100. Rocket Money manages to lower it to $80. Your annual savings will be $240.

The company will charge you 30% of this amount, which is $72. You’ll then have to pay this amount through the app.💲💲

Your net savings will be $168, which is still a good deal.

Other features on Rocket Money

Subscription management

Another notable feature of Rocket Money is subscription management. The company manages all your subscriptions and ensures you’re not paying for anything you don’t use.💸💸

Rocket Money goes through all your financial transactions and looks for any recurring payments. It then categorizes them as subscriptions.

You can see all your subscriptions in one place on the app. The company will also send you notifications if it finds a new subscription.💰

For example, let’s say you’re subscribed to a streaming service and a magazine. You might not be using the magazine anymore, but you’re still paying for it every month.

Rocket Money will notify you of this and give you the option to cancel the subscription. According to the company, they have canceled more than a million subscription for its app users.💻

Spending insights

Rocket Money also provides insights into your spending habits. It tracks all your transactions and categorizes them.📊

You can see where you’re spending the most money and where you can cut back. For example, you might be spending a lot of money on unnecessary things like coffee or clothes.

The app will show you this so you can cut back on your spending. Besides this, the spending insights also show you the following:📉📈

  • Pending Bills: You’ll see all the bills that are due in the next week. This way, you can be prepared for them and not forget to pay them on time.
  • Discretionary Spending Remainder: The app will show you how much money you have left to spend on discretionary items like coffee or going out to eat.💸💸
  • Big Purchases: If you make any big purchases, you’ll see them in this section. For example, if you buy a new TV, you’ll see it here.

Budgeting tools💰💰

Rocket Money also has some budgeting tools to help you save money. These tools include the following:

  • Spending Allowances: Rocket Money suggests spending allowances for different categories like food, entertainment, and shopping. You can use these allowances to create a budget for yourself.🚀
  • Budget Alerts: The app will send you alerts if you’re close to reaching your budget for a specific category. For example, if you’ve spent $80 on food for the month, you’ll get an alert telling you to stop spending.🤑💸
  • Financial Goals:🤑🤑 You can set financial goals on the app and track your progress. For example, you can set a goal to save $500 in the next six months.

Premium features

If you’re a premium member of Rocket Money, you also get these additional features:

Smart Savings Accounts: You can use the app to move your money into savings accounts. Rocket Money will automatically move money into these accounts based on your spending habits. It’s similar to how micro-savings apps work.

  • Free Refunds: Rocket Money will try to get your free refunds on specific fees, like late fees and overdraft fees.💵💵
  • Unlimited Budgets: With the Premium plan, you can create an unlimited number of budgets. For example, you can have a budget for travel, groceries, and entertainment.
  • Customer Support: You get live chat support with the Premium plan.💬💬
  • Credit Monitoring: The Premium plan includes credit monitoring so you can keep an eye on your credit score. You can also get an update from the app if your credit score has changed recently.

How Rocket Money makes money💰💰

Rocket Money makes money through two primary sources:

Premium members

The Premium plan gives you access to all the premium features we just mentioned. Rocket Money earns revenue from these premium members.

Successful bill negotiations

As mentioned earlier, Rocket Money will try to get your bills lowered for you. If they’re successful, they’ll take up to 60% cut of the savings. For example, if they save you $100 on your bill, they’ll keep $60 and give you the other $40.💸💸

In some cases, the amount you have to pay to Rocket Money may be as low as 30%.

How much does Rocket Money premium plan cost?

Rocket Money’s Premium plan can be anywhere from $3 to $12 a month. The app has a pay-what-is-fair pricing model. It means that you can choose how much you want to pay for the app based on what you think it’s worth.🚀💲

If you select a low amount of up to $4, you’ll be billed annually. But if you choose to pay more than $4, you’ll be billed monthly.💲💲

So, the highest you may have to pay for the app is $144, while the lowest is $36. Of course, the amount you pay will depend on how generous you want to be.💸💸

While there’s a free version, we don’t think it has the features that make Rocket Money worth using. If you’re looking to save money and lower your bills, you’ll need to sign up for the Premium plan.

Is Rocket Money legit?⭐⭐

There’s no reason to believe that Rocket Money is not legit. They have a good reputation and have been in business for years.

The website is also very user-friendly, and they offer excellent customer support. However, like most apps of this sort, finding a way to unsubscribe can be difficult. For example, if you have a pending bill negotiation request, it will not be canceled automatically once you cancel your subscription.⭐⭐

In some cases, you might have to talk to a customer support representative to cancel your subscription. However, that could be considered a negative as it inconveniences people.

As for the reviews. Rocket Money has a 4.8 Trustpilot rating. While that seems like a green flag, we noticed that most Truebill reviews are flagged as ”invited”.

That means the company reached out to some customers and asked them to leave a review. It’s not an uncommon practice, but it does make us a little suspicious.🚩🚩

It’s also surprising to note that the company has so many positive reviews on Trustpilot, but if you go to the Apple and Google app store, you’ll see people have many complaints about the app.👎👎

For one, many people complained about glitches in the app that led to them overpaying their bills or not being able to cancel their subscriptions.

Is Rocket Money safe?

Since Rocket Money has your bank details and personal information, you might wonder if it’s safe to use.

The company seems to have strong security measures in place. For example, they use 256-bit SSL encryption to protect your data.🔒🔒

Additionally, they have a feature called ”bank-level security” which is supposed to prevent anyone from accessing your account even if they have your login details.

While all of this sounds promising, we still think it’s essential to be cautious when sharing your personal and financial information with any app.

If you’re uncomfortable sharing your bank details, you can connect your Rocket Money account to a credit or debit card instead. Or, you can contact [email protected] to get more information about the app’s security.🔒🔒

What we like about Rocket Money⭐⭐⭐

  • It has a suite of features for every user, from a jobholder to a small business owner.
  • The app is available on both Android and iOS devices.
  • It can help users budget and save money by lowering their bills.
  • Since it shows the subscriptions in one all, it lets you choose which ones to keep and cancel.

What we don’t like about Rocket Money👎👎

  • The app has certain glitches.
  • It is not available in all countries.
  • The free plan doesn’t offer much.

Alternatives to Rocket Money

If you don’t want to use Rocket Money to save money, you can also use other websites, such as:

  • Branded Survey⭐⭐
  • Swagbucks
  • InboxDollars
  • PineCone Research
  • Opinion Outpost
  • Vindale Research💬💬

These websites offer rewards for taking surveys and can be a great way to make some extra cash. You can also use apps like Ibotta and Checkout 51 to get cash back on your groceries.


Rocket Money is a reliable option for people who want to ensure they’re not paying for subscriptions they’re not using. It also helps you budget and track your spending to see where your money is going.👍👍

The app is free to download and use and is available for iOS and Android. The Premium features are available for $3 to $12 a month, depending on how much you want to pay.💰⭐

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