| Rocket Money (2024)

FAQs

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.

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.

While Mint was an excellent budgeting app, Rocket Money also has budgeting features to help you stay on track. Besides helping you track and manage your money, it has tools for negotiating your bills, managing streaming services subscriptions, and more.

We're a free service to use and/or download, but our users are able to opt into optional features that we provide at a cost. These features are designed to optimize your financial management and growth!

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.

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.

For every dollar saved by the use of Rocket Money, the company takes 40% as a “savings fee.” That fee is charged once the savings are secured, and it applies to one year's worth of savings. So if Rocket Money saves you $500 annually on your bill, you'll be charged $200.

Rocket Money is right for:

It shows all of your bank and credit card accounts in one place, organizes your bills and budgets, and even offers credit score tracking. The free version is very limited, however, so you'll likely need to pay for the Premium membership for the app to be really useful.

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.

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.

EveryDollar is a good choice for those who are in search of simple, back-to-basics budgeting software. There's a free version that lets you enter your transactions yourself. However, if you want the app's full functionality and automatic sync features, expect to pay up.