Rocket Money (2024)

FAQs

Is the Rocket Money app legit? ›

Is Rocket Money legit? Yes, Rocket Money is a legitimate company. It uses data encryption to keep your information safe, securely links bank accounts through Plaid, and its savings account is offered through nbkc Bank, which is insured by the FDIC.

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.

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.

Is the Rocket Money app safe? It indicates an expandable section or menu, or sometimes previous / next navigation options. 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 is free to download and set up, but most of its advanced features are behind a paywall with an unusual pay-what-you-wish price, ranging from $4 to $12 per month, with the app suggesting $10 per month. You get charged annually, however, so you're looking at a minimum of $48 per year.

You'll see how much you'll save per year by canceling the subscription, which you can do by selecting “Cancel for me.” Enter that subscription's login information and click cancel. Rocket Money will end your subscription, even communicating by email, phone call, or snail mail on your behalf. It's that simple.

These inquiries may include asking you for further information, requiring you to provide your full address and Social Security number, and/or requiring you to take steps to confirm ownership of your email address or financial instruments, ordering a credit report, or verifying information you provide against third ...

Pricing: You may choose how much to pay each month through a sliding scale. Rocket Money has a free plan that's $0. The Premium plan has a 7-day free trial; after the free trial, you'll have to pay around $6 to $12 per month (the lower-price plans are billed annually instead of monthly).

Does Rocket Money affect your credit score? ›

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 offers optional paid features to unlock additional services within the app. Mint doesn't offer any paid features, but that's not necessarily a bad thing. If you compare the services you have to pay to unlock with Rocket Money to what Mint offers for free, there's not much difference.

Overall, user reviews are positive about Rocket Money's budgeting and money management features. Folks say the platform is easy to use and is broadly considered to be worth the cost for a Premium Membership. However, the vast majority agree that the Bill Negotiation isn't worth the cost.

Rocket Money (formerly Truebill) is an app that focuses on managing bills and canceling subscriptions. Rocket Money's subscription cancellation service costs money and doesn't work for everything.

We use this data to display your accounts, transactions, and even subscriptions inside the Rocket Money app.

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.

The app also offers bank-level security with 256-bit encryption to keep your personal data safe. Rocket Money is free to use, although there are optional services, such as bill negotiation, that you can opt in to for an extra cost ranging from $4 to $12 monthly.

If you're looking to withdraw funds from your financial goal, you'll only be able to do that through the Rocket Money mobile app as it's not possible on our website yet.