February 22, 2024

Rocket Cash is a financial-management and budgeting platform obtainable on net browsers and thru each Android and iOS cellular apps. Though its best-advertised function is its capacity to seek out—and assist customers cancel—month-to-month subscriptions, the platform is highly effective and complete sufficient for many non-public customers, providing customers the choice to trace their credit score rating in addition to their bills, price range by class, see upcoming payments forward of time, and extra.

Rocket Cash does preserve a number of of its Most worthy options—together with the oft-touted subscription-cancellation concierge—behind a paywall. Luckily, its price is on a sliding scale beginning as little as $4 per 30 days. 

Rocket Cash

Options

Construct a price range via particular person expense categorization and create financial savings targets each individually and with a companion

TIME’s Take

An inclusive, intuitive, and well-designed expense tracker and budgeting platform, RocketMoney can meet the financial-management wants of most on a regular basis customers (although it lacks the accounting functionalities and options constructed particularly for small enterprise house owners that applications like Quicken supply). Its free model is highly effective sufficient to profit quite a lot of customers, and its paid subscription is inexpensive sufficient to be worthwhile for a lot of, too.

Who’s Rocket Cash greatest for?

  • Budgeters in search of a alternative as Mint shutters.
  • Starting budgeters hoping to get a deal with on their funds.
  • These trying to trim their many recurring month-to-month subscriptions.
  • Individuals who want to negotiate their payments, however don’t need to go to the time or trouble themselves.

How does Rocket Cash decrease payments?

Rocket Cash can assist you decrease your payments in a couple of alternative ways—although two of its hottest bill-lowering companies come at a value.

Rocket Cash is well-known for its cancellation concierge service, which lets you robotically unsubscribe from month-to-month subscriptions on the contact of some buttons—and get any refunds you’re eligible for, too. Nevertheless, cancellation concierge is barely obtainable on the Premium degree, which begins at $4 per 30 days.

Rocket Cash additionally affords a bill-negotiation service during which reside representatives name and negotiate your payments for you. This function comes at an extra value, however provided that the payments are efficiently lowered. In that case, you’ll select how a lot to pay on a sliding scale between 30% and 60% of the ensuing financial savings.

Execs and cons

Execs:

  • Free model obtainable
  • Cash-saving options like cancellation concierge, sensible financial savings account, and invoice negotiation obtainable
  • Premium tier provided on sliding scale

Cons:

  • Some favourite options, together with cancellation concierge, solely obtainable for Premium subscribers
  • Stay buyer assist solely obtainable to Premium members
  • Account linking via Plaid could be gradual

Advantages

Free model

Starting budgeters and people merely attempting arduous to make ends meet will profit from the truth that Rocket Cash’s free service capabilities nicely as a budgeting and expense-tracking platform. Though money-saving options like cancellation concierge and invoice negotiation are paywalled, free customers can nonetheless take pleasure in a strong and helpful private finance administration expertise.

Cash-saving options

Though they should be paid for, Rocket Cash’s money-saving options set it other than opponents. So far as TIME is conscious, it’s the solely financial-management app that provides reside bill-negotiation companies and computerized subscription cancellation. And, in fact, the easy act of making a price range and seeing the place your cash is definitely going—each of which can be found on the free tier—could be useful money-saving methods for a lot of.

Pay what you need

Even Rocket Cash’s paid merchandise supply customers flexibility. Each its Premium subscription and its bill-negotiation companies are priced on a sliding scale, beginning at simply $4 per 30 days for Premium and 30% of the cash saved on account of negotiation.

What could be improved?

Greatest options paywalled

We are able to’t actually fault Rocket Cash too arduous on this entrance—in any case, each for-profit firm’s first purpose is to become profitable. However from the person’s perspective, having to pay for a few of Rocket Cash’s greatest and most well-advertised options, together with its automatic-savings choice and subscription-cancellation concierge, is usually a bummer. Luckily, the sliding scale mitigates this impact to some extent.

Stay buyer assist is paywalled

Whereas Rocket Cash is already outperforming a few of its opponents by having reside buyer assist in any respect—and well-rated reside buyer assist, at that—it’s true that reside assist (through in-app chat) is barely assured to paying Premium members.

App could be gradual

Though practical, Rocket Cash’s cellular app is usually a bit laggy and gradual in comparison with some opponents’ apps. Nevertheless, total, the apps each rank nicely amongst customers, with each the Google Play and Apple Retailer model boasting scores of 4.3 stars on the time of this writing.

How does Rocket Cash evaluate?

Rocket Cash affords all of the must-have options that almost all financial-management platforms do, together with helpful extras to those that are prepared to improve to its Premium subscription. For instance, Premium members get entry to automatic-savings choices constructed to work along with your price range, subscription-cancellation concierge companies that make dialing down your month-to-month payments a breeze, and net-worth monitoring to see how your monetary standing modifications over time.

Sure—seven-day free trial for Premium membership, and free model is on the market

Sure—34-day free trial earlier than $14.99 per 30 days (or $8.25 per 30 days billed yearly)

Sure—14-day free trial earlier than $8 per 30 days

Computerized cost (subscription) monitoring

Sure, with cancellation concierge at Premium degree

Rocket Cash vs. Mint

With Mint slated to close down in early 2024, a lot of its customers are on the hunt for a alternative platform. Rocket Moneyoffers a lot of Mint’s core options, together with budgeting by class and expense monitoring, in addition to extra options like invoice negotiation and cancellation concierge (although each of those latter are paid companies).

Like Mint, a practical free model is on the market for these trying to handle their cash at a low value. You gained’t be subjected to ads with a view to use the free product (although many product-upgrade screens seem as you navigate the app). Rocket Cash additionally affords reside buyer assist for its Premium members, which is unavailable at any tier of Mint.

Rocket Cash: In-depth assessment

Let’s take a more in-depth have a look at Rocket Cash’s options and instruments.

Usability

Rocket Cash’s app and net platforms are each intuitive and straightforward to navigate—although the interface might arguably really feel a bit crowded and overwhelming at first. TIME appreciates that Rocket Cash doesn’t require any software program downloads to work on a desktop, and its cellular functions for each Android and Apple are well-rated by customers.

Budgeting-tool choices

Rocket Cash’s budgeting instruments make it easy to see how a lot you’re spending each month. The app analyzes your precise transactions to find out which bills are prone to be payments (and, in fact, it’s also possible to add your individual). Every part is customizable so you possibly can tailor your price range to your particular wants. The app additionally affords a forecast of upcoming payments and warnings while you spend greater than you’ve budgeted for.

Expertise

Rocket Cash companions with Plaid—a agency whose companies are utilized by well-respected fintech corporations the world over, together with the likes of Venmo—to allow seamless and secure information switch out of your exterior checking, financial savings, funding, mortgage, and bank card accounts. Its sensible software program means that you can simply see at a look which payments and computerized funds are developing in addition to all of your recurring bills, making it far simpler to seek out cut-worthy line objects in your price range.

On the safety facet, Rocket Cash makes use of bank-level expertise to make sure your delicate information stays non-public, together with 256-bit encryption.

Customer support

Rocket Cash is extremely regarded on buyer satisfaction boards like TrustPilot, the place it enjoys a score of greater than 4.5 out of 5 stars through nearly 4,000 opinions on the time of this writing. The corporate is accredited by the Higher Enterprise Bureau, the place it scores a B score and maintains about 3.5 out of 5 stars.

Social options

Whereas Rocket Cash doesn’t have any built-in social-media integration, it does supply Premium members the chance to share their monetary profile with a companion, member of the family, or monetary advisor. As a result of it makes use of fintech big Plaid to allow connections to exterior accounts, it seamlessly integrates with the overwhelming majority of banks and bank card issuers.

Firm fame

As talked about above, Rocket Cash is extremely regarded amongst clients, sustaining favorable customer-service scores on a number of boards. Whereas comparatively younger with a founding date in 2015, over the close to decade since its inception as Truebill, the corporate has maintained a strong observe historical past of security, safety, and repair.

Different companies provided

Rocket Firms, which now owns Rocket Cash, additionally owns Rocket Mortgage, Rocket Loans, and is the issuer of the Rocket Visa Signature® Card.

Extra on Rocket Cash

How secure is Rocket Cash?

Rocket Cash makes use of the identical safety expertise as banks do together with 256-bit encryption. Its companion, Plaid, is trusted by many distinguished fintech corporations together with Venmo. Briefly, Rocket Cash is about as secure as any on-line monetary service could be.

Who owns Rocket Cash?

Rocket Cash was based as Truebill again in 2015 by Yahya Mokhtarzada. The corporate was acquired by Rocket Firms in 2021 and its title modified in August of the next yr.

How a lot is Rocket Cash?

Rocket Cash affords a free model of its product that retains a lot of its Most worthy options, together with budgeting, credit-score entry, subscription monitoring, and extra. Nevertheless, its subscription-cancellation concierge service is on the market solely to Premium members. The Premium tier additionally comes with bonus goodies like limitless budgeting, automated financial savings choices, real-time synching, and extra. 

The Premium subscription is on the market on a sliding scale from $4 to $12 per 30 days. Subscriptions are billed yearly on the $4 and $5 degree.

What’s Rocket Cash Premium?

Rocket Cash Premium is the corporate’s paid subscription service, which is analogous to its free model however with added extras. Moreover, members might want to improve to Premium to take pleasure in a few of Rocket Cash’s most prized instruments, together with a subscription cancellation concierge service and automatic financial savings. Premium members additionally get precedence assist, account-sharing entry, limitless budgeting, net-worth monitoring and extra.

How does Rocket Cash become profitable?

Rocket Cash’s financial-management app makes use of the software-as-a-service (SaaS) enterprise mannequin. The product earns cash when members join Premium memberships, which value between $4 and $12 per 30 days. Moreover, Rocket Cash additionally affords a bill-negotiation service individually from its Premium memberships, and customers with efficiently lowered payments can select to pay between 30% and 60% of the ensuing financial savings for the service. 

As talked about above, Rocket Cash’s mother or father firm additionally affords quite a lot of different monetary companies and merchandise, together with mortgage loans, private loans, and bank cards, which add to the agency’s total revenues.

How do I cancel Rocket Cash?

To cancel a Premium Rocket Cash subscription, open the app and faucet on the Settings icon within the higher left nook of the Dashboard (it appears to be like like a bit of gear.) From this display, faucet on Premium Membership, after which Handle Membership.

You’ll see a slider equivalent to how a lot you pay every month for the service. Drag the slider all the way down to $0, and the Replace Subscription button will change to Cancel Subscription. The app will information you thru a couple of extra screens to finalize and ensure your cancellation.

To cancel a invoice negotiation earlier than it’s begun, you’ll must ship an electronic mail to [email protected]. You can too toggle the bill-negotiation function to “off” within the Methods to Save part of the app to maintain additional negotiations from starting.

Backside line

With a strong suite of capabilities obtainable on the free platform and inexpensive upgrades obtainable, Rocket Cash is usually a workable budgeting resolution for all kinds of on a regular basis customers. Whereas its main money-saving capabilities are paywalled, for customers with many month-to-month subscriptions or who want to implement the platform’s computerized financial savings choice, the improve could also be worthwhile.

Rocket Cash

Options

Construct a price range via particular person expense categorization and create financial savings targets each individually and with a companion

Steadily requested questions (FAQs)

What was Rocket Cash known as earlier than?

Rocket Cash was initially generally known as Truebill when it was based in 2015. The corporate was acquired in 2021 by Rocket Firms—which additionally owns Rocket Mortgage, Rocket Loans, and is the issuer of the Rocket Visa Signature® Card. Its title modified in late August, 2022.

Why did Truebill change to Rocket Cash?

Truebill modified to Rocket Cash following its acquisition by Rocket Firms. The product was renamed to suit alongside the remainder of the buying firm’s merchandise.

Easy methods to add your Apple Card to Rocket Cash

After many person requests, Rocket Cash has achieved performance with Apple Card—although Apple Financial savings accounts nonetheless can’t be synced to the platform. So as to add your Apple Card to Rocket Cash, merely choose the Settings icon, faucet on Linked Accounts, Faucet on Hyperlink a brand new establishment, and seek for Apple Card. Take into account this can solely work on the iOS app, not on net or Android gadgets.

** Empower Private Wealth, LLC (“EPW”) compensates Time Stamped for brand new leads. Time Stamped will not be an funding shopper of Empower Advisory Group, LLC.

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