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Rocket Money Review: Is Rocket Money Safe, Free and Trustworthy? Or a Scam?

Rocket Money is a popular online money transfer platform that allows users to send and receive money all over the world. It is a fast, easy and secure way to transfer money to family and friends, making it a great choice for anyone who needs to make international payments. But with any online money transfer, the question arises – is Rocket Money safe, free and trustworthy?

In this review, we will explore the many features of Rocket Money and answer the question of whether it is a scam or a legitimate service. We will look at the safety and security features, fees and cost structure, customer service, and more to determine if Rocket Money is the right choice for you.

If you are like most people, you have heard of Truebill by now. Well as of August 2022, Truebill is now call Rocket Money. So if you are wondering about Truebill – you are in the right place. And if you want to know if Rocket Money is safe, free and trustworthy or a scam? Then read my ultimate Rocket Money below.

If you have heard of Truebill or Rocket Money, you probably are wondering if the hype about Rocket Money is legit, or if Rocket Money is a scam. The good news is that there is a lot to really like about this great app. Let’s dig in and spend a few minutes to find out:

  • What is Rocket Money App?
  • Is Rocket Money safe and legit?
  • Is Rocket Money Free?
  • How does Rocket Money work?
  • Most importantly, is Rocket Money worth it? Find out and more

Is your entire financial life automated?  Providers like Amazon, Spotify, Netflix and  your gym membership know that if you’re set up with automated monthly subscriptions billed to your credit card, you’ll probably keep paying for the service long after you’ve stopped using it.   That is why innovative financial apps such as Rocket Money are so crucial.  They help you cancel services you unused subscriptions. Rocket Money is a company that also promises to help people with a huge savings opportunity by negotiating better rates with their service providers that they want to keep. 


In late August 2022, Truebill finance app became a part of Rocket Companies (NYSE: RKT), and officially changed its name to Rocket Money.

Existing Rocket customers, such as Rocket Mortgage, will be provided a FREE premium account upgrade for all Truebill members who already have a home loan serviced by Rocket Mortgage. Rocket Mortgage clients will receive a free premium Rocket Money account for the life of their loan.

In the first few months after being acquired, Truebill launched a net worth tracking feature and developed a website for those that prefer the larger screen. The app continues to develop and grow.

10034 1432489 Rocket MoneyRocket Money

Rocket Money is a financial management app that helps users track their spending insights, monitor their subscriptions, and cancel unused recurring subscriptions. In simpler terms, users of the Rocket Money app will save money on their monthly bills, and the app may get a small percentage of the savings for doing all of the work for you. Seems fair enough, doesn’t it? Let’s take a look under the hood.

What is Rocket Money ?

The main objective of Rocket Money is to help you optimize your spending habits, help you manage your subscriptions, lower your automatic bills – ultimately to help you stay on top of your financial life.

But the questions that I get all the time are:

  • Rocket Money seems too good to be true – is Rocket Money legit or a scam?
  • Is Rocket Money safe to use, or should I worry?
  • How does Rocket Money actually work?

Is Rocket Money Safe?

No matter how amazing the service may or may not be – it is meaningless if you are always wondering how safe is Rocket Money to use? And it is normal to worry about online security, because there are always security risks. On the surface, the app seems like a great way to save money. After all, who wouldn’t want to have a service that helps you cancel unwanted subscriptions, negotiate better rates, and a potential refunds request for hidden fees?

So before anyone would ever sign up for a service – the first question that needs to be answered is – is Rocket Money safe? Like most companies, they realize that users may be concerned about the service’s security threats.  The following are some of the most important points from the company’s security disclosure:

  • First, they are using bank-level encryption. Your data is encrypted at a 256-bit bank level.
  • Rocket Money understands concerns about security risks of your date, and doesn’t settle for just the current industry security standards. They have decided to place users data on Amazon Web Services, where the U.S. Department of Defense also holds sensitive data.
  • Since the app is using the Plaid service to connect to your financial institutions, you should not have to provide your banking, or online credentials to access your data though the app.
  • According to Rocket Money, it does not sell your information to outside parties.

So, is Rocket Money safe?
Overall, the answer is YES.

Rocket Money is a legitimate company with a good reputation. However, as with any service that requires you to link your financial accounts, there is always a slight risk involved.

Click Here and Sign up for a Rocket Money Trial for a FREE MONTH

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Is Rocket Money Trustworthy?

trust legit safe

There are a some mixed reviews about the previous app name Truebill out there, just like every other company. Most people say that Rocket Money is a great way to save money and keep track of your finances, while some negative reviews claim that it’s a scam. So, is Rocket Money trustworthy?

Personally, I think the app is a great tool for managing your finances. I’ve used it myself and I’ve found it helps me track my spending breakdown and uncovered savings. The app helped me find extra money with unused subscriptions with the subscription tracker, negotiated with my internet provider and cell phone plan – it basically put my money on auto pilot. I would definitely recommend it to anyone who is looking for a way to budget their money and save some cash.

However, I can see how some people might be hesitant to use an app such as this. After all, you are giving them access to your financial information. If you’re not comfortable with that, then I understand. Also some of the older negative customer reviews seem to have caught some people off guard with Rocket Money premium version being a premium subscription offering, or the commissions for the subscription tracker negotiating your common bills. There are other ways to manage your finances without using the app, without a one year subscription fee.

At the end of the day, it’s up to you to decide whether or not you want to use Rocket Money for free or the premium version. I think it’s a great tool for those not on unlimited monthly budgets to cut their monthly spending on unused subscriptions, through the subscription cancellations feature. But it’s not for everyone. If you have savings goals, and don’t want a missed savings opportunity and keep track of your finances, I say go for it. But if you’re not comfortable with sharing your financial information, then there are other options out there.

As you can see above, the service is as safe or safer than most other services available

But if you’re not comfortable with sharing your financial information, then there are other options out there.

Is Rocket Money Free?

You probably first noticed Truebill services when you saw it advertised as free. So I want to be clear right up front – YES Rocket Money IS FREE, but there are also premium subscription offerings. A premium subscription is not necessary, so the service is free. But you may choose to upgrade to the Rocket Money premium subscription for some of the other budgeting features and negotiation feature

Do you have to pay for Rocket Money? Is Rocket Money really free?

budgeting apps

The answer is yes and no. Rocket Money is a free app that will help you with annual savings on your monthly bill payments and recurring subscriptions. However, there may be some fees associated with the premium subscription services. 

For example, if you want the app to negotiate a lower rate for your cable bill, they will charge you 40% of whatever your annual savings are.  

So is Rocket Money free then?  You still saved 60% off of your bill.  There is no service charge if Rocket Money does not find you a savings. Think about that for a moment – If you spend $2,000 per year on your cell phone plans or internet provider, and the app can find an annual savings of $500. Sure, they ‘charge you ‘ $200 for finding the annual savings for you. But you are still $300 ahead of the game than if the uncovered savings through the subscription tracker. The only difference is, if you didn’t know about the commission, then I can see why you would be upset over the service charges.

Rocket Money also offers premium subscription offerings for $3 to $12 per month.  They can find you outage refunds and other annual savings for you .

YES Rocket Money IS FREE – but there are also premium subscription offerings for a fee.

Overall, Rocket Money is a great service that can help you save money on your monthly bills. However, there are some fees associated with the service. If you are looking for a way annual savings on your common bills, then I feel the app is a great option.

Click Here and Sign up for a Rocket Money Trial for a FREE MONTH

So, Is Rocket Money Legit?  A Rocket Money Review

Here’s what we know: 

  • Rocket Money is a financial management tool that helps users track spending categories, find extra money and cancel unused monthly subscriptions, and uncover annual savings. 
  • The company has been around since 2013 and has helped users save millions of dollars, hundreds of dollars at a time..
  • The App is free to use (an optional paid Rocket Money premium subscription option) and is available on both iOS and Android devices. The app has a 4.5-star rating on the App Store and a 4.6-star rating on Google Play.
rocket money app review

So, what do people say about Rocket Money ? Overall, the reviews are positive. People appreciate the ability to see all of their subscription costs in one place and cancel unwanted subscriptions with ease.

However, there are a few complaints. Some users say that they were charged for a subscription they didn’t sign up for, or that they were unable to cancel a subscription.

Rocket Money Review – Uncover Savings With Rocket Money:

I was really excited to learn about Truebill initially because it has the potential to save me some extra money. Many people try to get their finances in order and save money, but it’s been difficult.

Rocket Money is a service that helps you track spending, find unused subscriptions, and take care of subscription cancellations for you. This is really helpful for me because I have a lot of unused subscriptions, like most people. I never even realized how much extra money I was wasting on these things. Once you see it, it kind of surprises you and how much wasted money is being thrown away for nothing.

In addition to helping you cancel unwanted subscriptions, Rocket Money can also negotiate with your cell phone and internet providers to lower your monthly payments and free up additional annual savings. This is a powerful tool, because it is free extra money. Sure this feature will cost you, but look at the savings! Some users complain about this pricing model, but if you understand this is the pricing strategy in advance with no surprises, it shouldn’t be an issue.

Rocket Money can negotiate your bills to lower your monthly payments and free up additional annual savings.

Can you negotiate your bills on your own – sure you can. But the reality is, you and I haven’t. This service is optional, but I highly suggest it.

Easy – How Do I Cancel Rocket Money Subscription?

Overall, I believe that Rocket Money is a legit company that can help users save money. If you’re looking for a way to keep track of your finances and cancel unwanted subscriptions, I recommend giving the app a try today.

Sign up for a Rocket Money Trial for a FREE MONTH

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Rocket Money Complaints

I have been a Rocket Money (formerly Truebill) user for over a year now, and I have never had any problems with the service. I have always found it to be reliable and easy to use. However, I recently came across some older Truebill complaints online, and I was surprised to see that there are some people who are not happy with the service.

Truebill’s Better Business Bureau profile had a lot of really bad reviews a few years ago – an F rating from the BBB and was not accredited. 

But, Truebill has since been was accredited by the Better Business Bureau with an “A” grade as of December 2021. That’s a significant improvement in a short period of time. The bottom line is the customer service heard the issues – and worked towards being more clear about the fees for the premium version of their service.

The biggest complaint that I saw was that Truebill / Rocket Money charges a monthly fee, and some people feel that this is unfair. I can understand why people would feel this way, but I personally don’t mind paying the monthly fee. I think that it is worth it for the peace of mind that Truebill / Rocket Money provides.

The bottom line is, if you understand what Rocket Money charges for, and is not free – I think you will have zero issue with the company.  Complaints seem to be from these who didn’t realize this.

Overall, I think that the complaints about the previous app are minor. I have never had any major problems with the service, and I believe that it is a great way to keep track of your finances. If you are looking for a reliable and easy to use financial tracking service, I would recommend Rocket Money.

So, Is Rocket Money Scam?

There are many people who are wondering if Rocket Money is a scam. After all, it is an online service that promises to help you save money on your bills, for free. It seems too good to be true, for many. But is it really a scam?

The answer is no. Rocket Money is not a scam.

It is a legit service that can help you save money on your bills.  See above for the typical complaints online, with an explanation.


Is Rocket Money Good?

There are many benefits of usingthe app. 

  • First, you can find huge annual savings and smart savings on your bills. 
  • Second, you can get out of debt faster. 
  • Third, you can improve your credit score
  • Fourth, you can learn how to better manage your finances.
  • Fifth, you can get help from a team of experts who are there to help you every step of the way.

Sign up for Credit Karma for FREE to keep track of your credit score!!

Rocket Money Final Thoughts

Because so much money is spent on subscriptions rather than one time purchases, I believe that most people should use programs like Rocket Money .

Rocket Money provides unique insights that might help you keep track of your spending habits rather than thinking you’re getting the greatest deal.  It’s difficult to judge whether the premium service will be worth the money.

It may be worth upgrading to the paid premium service for a brief period when you sign up to take advantage of the cancellation option.  Even if you go back to the free service after a few months.

The apps bill negotiation service is very in depth and may be worth the extra cost.

Is Rocket Money Worth It in the End?

For some, the app is amazing.  One client saved $840 in the first year, another saved $660 their first year.  Despite the bad feedback mentioned above, Rocket Money has the ability to assist some customers. Let’s take a look at some of Rocket Money’s advantages and disadvantages to see whether it’s the best fit for you:


  • After fee’s, you save 60%
  • Keeps track of subscription renewals.
  • Detects and reports service outages
  • There is no charge for the basic service.


  • 40 percent of the savings is taken.
  • Access to financial information is required.
  • Negative online reviews
  • Charges for premium services

In conclusion: Rocket Money may not be right for you if you already keep track of your monthly expenses and seperate budgets. If you’re too busy to keep track of things like auto renewing subscriptions though, the free service can be worth it. After all, a 60 percent savings is preferable to paying 100 percent of what you are currently paying.

Rocket Money vs. Trim

Trim is a financial tracking app that helps users stay on top of their spending, set financial goals, and track their bills.  Trim works to cancel unused recurring subscriptions and lower bills.  Right now, Trim charges 33% of savings to lower bills and it does not charge for its cancellation services.

However, Trim isn’t able to cancel as many bills as Rocket Money , and it doesn’t request bank fee refunds.

So, which app is better?  If someone is looking for an all-in-one budgeting and financial tracking solution, Rocket Money may be the better option. However, if someone is only interested in tracking their spending habits and bills, Trim may be the better choice.

For a further comparison between Rocket Money vs Trim, read more here.

Rocket Money vs. Cushion

There are many budgeting and financial tracking apps available on the market today. Two of the most popular are Rocket Money and Cushion. Both apps have their pros and cons, but which one is the best?

Rocket Money is a budgeting app that allows users to track their spending habits, set goals, and stay on top of their finances. It also offers a variety of features, such as the ability to track bills, create a realistic budget, and set financial goals. One of the downsides of is that it does not offer a free trial and it is not available for Android devices.

Cushion is a financial tracking app that helps users stay on top of their spending and save money. It offers a free trial and is available for both iOS and Android devices. However, one of the downsides of Cushion is that it does not offer as many features.

So, which app is the best? It really depends on your needs and preferences. If you are looking for an app with a lot of features, Rocket Money is a better option.  

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Rocket Money Vs Billshark

Billshark is an app that charges you 40% of your savings to lower most cable, Internet, cell service, and home security services.  Since this matches Rocket Money ‘s offer, it’s no better to use one service vs. the other.

Both of these companies will work to negotiate lower rates on your behalf, but they each have their own unique advantages.  Rocket Money is the better option if you want more control over your bills. With Rocket Money, you can see all of your bills in one place, and you can choose which ones you want the company to negotiate on your behalf. 

Billshark is the better option if you want someone else to handle the negotiation for you. With Billshark, you simply provide your bill information and the company will take care of the rest.  

Either way, you can save a significant amount of money by using either Rocket Money or Billshark to negotiate your bills. So, if you’re looking to save money, be sure to check out both of these options.

Billshark Review

Rocket Money vs Mint

Both apps have their pros and cons, but which one is the best?

Mint has many of the same features as Rocket Money. However, Mint also offers a few unique features, such as the ability to create a Debt Reduction Plan. This feature helps users get out of debt by creating a personalized payment plan to pay off their debts. Mint also offers a Credit Score Tracker.

So, which budgeting tool is the best? If you are looking for an app that is easy to use and automatically tracks your spending, Rocket Money is a great option. However, if you are looking for an app that offers more features, such as the ability to create a Debt Reduction Plan, Mint is a better.

For a further comparison between Rocket Money vs Mint, read more here.

Budgeting Apps

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Note: The content provided in this article is for informational purposes only and should not be considered as financial or legal advice. Consult with a professional advisor or accountant for personalized guidance.

Michael Ryan
Michael Ryanhttps://michaelryanmoney.com/
A former stockbroker, financial planner, and owner of my own financial planning practice and then a property & casualty agency. I have since retired and decided I want to help individuals and business owners by offering personal financial coaching. And now, I have started my blog - www.michaelryanmoney.com - to bring financial literacy to everyone. In a short time I have already been quoted and featured in US News & World Report, Business Insider, Yahoo Finance, and more (https://michaelryanmoney.com/home/press/) As a financial planner, I helped people from all walks of life. If you have questions about money, I will help you find the answers at www.MichaelRyanMoney.com
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