FAQs
Does Rocket Money really work? ›
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.
Can Rocket Money actually lower bills? ›Yes, Rocket Money can really lower your bills when you use its bill concierge service, which is available on a Premium account. Rocket Money has direct relationships with popular cable, cell phone, and internet companies, allowing them to negotiate your bills to a price you're more comfortable with.
Why did Rocket Money charge me? ›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.
What is the Rocket Money controversy? ›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.
Does Rocket Money hurt 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.
Are there better apps than Rocket Money? ›Several alternatives to Mint and Rocket Money are available. Free options include Goodbudget, SoFi Insights, Empower, and Money Manager. Other budgeting apps like YNAB (you need a budget), Quicken Simplifi, Monarch and PocketGuard have a nominal cost.
Which is better, mint or rocket money? ›Credit score reports and monitoring
Premium Rocket Money users also get credit reports and real-time alerts for changes impacting your credit score. But we prefer Mint over Rocket Money for credit reporting and monitoring since it's free. Winner: Mint offers free credit reports and monitoring.
Deleting your Rocket Money Account from our Mobile App:
Tap the Settings (⚙️) icon in the upper left corner of your Dashboard. Select Profile from the side menu. Scroll down to the bottom of the page. Tap Delete my account.
Premium Membership
These prices can vary at times and across platforms, but in general, members can choose monthly prices between $6-$12 per month. As a new Premium member, you'll receive a 7-day free trial to explore the additional features. After this period, you'll be charged the amount you chose during sign-up.
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.
Why are credit card payments ignored on Rocket Money? ›
If you have connected a credit card, the spending on that card is already being displayed on the Spending tab. Therefore, we don't want to count the actual payment of the card as an expense as well because it would be double counting.
How does Rocket Money know your subscriptions? ›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.
Does Rocket Money charge a fee? ›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.
How do I get my Money out of rocket money? ›- From your Dashboard, tap the word “Savings” to expand the savings section.
- Tap on the name of your Financial Goal.
- Tap the “Withdraw” button, to the left of the red “Add Money” button.
- Enter the amount you'd like to withdraw.
- Tap “Transfer”