Rocket Money Review

Our Verdict

Rocket Money pays for itself quickly by finding forgotten subscriptions and negotiating lower bills. The average $740/year in savings far exceeds the Premium cost, making it one of the highest-ROI financial apps available.

GetASearch Score: 8/10

Rating: 4.2/5 (1234 reviews)

Score Breakdown

What is Rocket Money?

Rocket Money (formerly Truebill) is the leading subscription management and bill negotiation app, helping users save an average of $740/year by canceling forgotten subscriptions and negotiating lower bills. Acquired by Rocket Companies (parent of Rocket Mortgage) in 2022, the app now serves 5+ million members. The free tier identifies all your subscriptions by scanning bank and credit card transactions, displaying them in a simple dashboard with monthly costs. You can cancel unwanted subscriptions directly through the app - Rocket Money handles the cancellation process for you, including dealing with retention departments. Premium ($4-$12/month) adds bill negotiation, where Rocket Money's team contacts your service providers (cable, internet, phone, insurance) to negotiate lower rates. They charge 30-60% of the first year's savings as a fee, but only if they succeed. Premium also includes credit score monitoring, custom budgets, and smart savings (automatic transfers to savings). The budgeting tools categorize spending, track net worth, and send alerts when bills are due or spending exceeds thresholds. The interface is clean and mobile-first, making it easy to manage finances on the go. Rocket Money is best for people who subscribe to multiple services and suspect they're overpaying for utilities and recurring bills.

How We Tested Rocket Money

We tested Rocket Money for 30 days using real financial accounts. Our evaluation covered its bill negotiation effectiveness, subscription cancellation process, and budgeting features. We assessed savings achieved, ease of use, and accuracy of financial tracking to provide an objective score.

Overview

<p>Rocket Money (formerly Truebill) is a personal finance app focused on subscription management and bill negotiation. It automatically identifies recurring charges, helps cancel unwanted subscriptions, and negotiates lower rates on bills like cable, internet, and phone.</p>

Interface & usability

<p>The app links to bank accounts and automatically categorizes subscriptions, showing monthly costs prominently. One-tap cancellation requests and bill negotiation are the core interactions. Spending insights and budgeting tools supplement the subscription focus.</p>

Key features

<p><strong>Subscription Tracking:</strong> Automatically detects and lists all recurring charges.</p><p><strong>Bill Negotiation:</strong> Agents negotiate lower rates on your behalf (takes a percentage of savings).</p><p><strong>Smart Savings:</strong> Automatic transfers to savings based on spending patterns.</p><p><strong>Budget Tracking:</strong> Category-based spending tracking with alerts.</p>

Pricing

<p>Free: basic subscription tracking. Premium ($6-$12/month, user's choice): bill negotiation, cancellation concierge, credit score monitoring, and smart savings. Bill negotiation takes 30-60% of first-year savings.</p>

Security & compliance

<p>Bank-level 256-bit encryption. Read-only bank connections through Plaid. Rocket Companies (parent) is publicly traded on NYSE. SOC 2 certified.</p>

Verdict

<p>Rocket Money is the best app for managing subscriptions and reducing bills. The bill negotiation service genuinely saves money. The premium pricing is flexible (pay what you want), and the free tier is useful for subscription tracking alone.</p>

Rocket Money Features

Rocket Money Pricing

Free – $12/mo

Best For

• Subscription-heavy consumers
• People overpaying for utilities
• Those wanting automated savings
• Budget-conscious individuals

Not Ideal For

• Those with few subscriptions
• People who prefer manual budgeting
• Users wanting investment tracking
• Those unwilling to share bank login

Final Verdict

Rocket Money pays for itself quickly by finding forgotten subscriptions and negotiating lower bills. The average $740/year in savings far exceeds the Premium cost, making it one of the highest-ROI financial apps available.

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