Is Rocket Money legit?

Yes, Rocket Money is a legitimate budgeting app operated by the same company as Rocket Mortgages. It uses Plaid to link your financial accounts in one place to help you manage and budget your money.

Does Rocket Money's subscription cancellation really work?

Yes, it often works. Rocket Money claims to have canceled more than 1 million subscriptions on behalf of users. Additionally, many users report successfully using the feature to cancel subscription services. However, it doesn't always work, and there are no guarantees that Rocket Money will be able to cancel your subscription.

Does Rocket Money's bill negotiation really work?

Reviews are mixed on whether Rocket Money's bill negotiation feature really reduces your bills. Some reviews say the feature worked as described, while other people say the reduction was temporary and they lost money overall.

Rocket Money Review: Easy-to-Use Budgeting App

Rocket Money takes the work out of managing multiple bank and credit card accounts, combining all of your accounts into one easy-to-navigate platform. You can check balances, see upcoming expenses, and create customized budgets with just a few clicks.

2025 Award Winner

Expense tracking and budgetingRocket Money

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Pros

Great overview of accounts
Lots of budgeting and savings features
Credit reports and tracking

Cons

Have to connect bank account
Bill negotiation is expensive
Free version has very limited features

What is Rocket Money?

Rocket Money is a money management and budgeting app. You can link bank and credit card accounts to import transactions automatically for an overview of your money.

With everything linked, you can then use a host of budgeting tools to organize and manage your income, debts, savings, and expenses. Plus, you can use the mobile app to stay on top of your finances from anywhere.

How does Rocket Money work?

You start by creating a Rocket Money account and adding at least one checking account. You can then add additional:

Checking accounts
Savings accounts
Credit card accounts
Investment accounts

Your accounts are linked through Plaid, a well-known financial networking company used by many major institutions. Once you link your accounts, Rocket Money can automatically pull your transaction and balance data so you get a full picture of your financial situation.

The app can find recurring transactions, like bills and utilities, or you can add expenses manually. You can set monthly budgets and savings goals, with the option to turn on AI for automatic savings based on your spending habits. And you'll always know what's left over with the constantly updating "Left for spending" total.

What we like about Rocket Money

Broad account support and real-time syncing shows you every dollar

You can link a variety of account types from hundreds of banks and credit card issuers. This makes it pretty easy to include all of your accounts, large and small, so you can get the broadest possible view of where your money lives.

Organize your expenses and automate your savings

Rocket Money has a lot of different tools for organizing your money down to the last dollar. You can create budgeting categories for everything, including setting savings goals of all sorts.

Then, set up savings automations based on Smart Savings data that figures out the best time to save. Smart Savings are moved to an FDIC-insured account and can only be withdrawn into the linked checking account that provided the funds in the first place. (It's highly recommended that you regularly move the savings out of the Smart Savings account and into a high-yield savings account for a better return.)

Save time and hassle by cancelling subscriptions with a click

Once your accounts are linked, Rocket Money can find and identify all of your recurring subscriptions -- yes, even the ones you forgot you had. And when you're ready, you can click the "Cancel" button right from your Rocket Money account -- no muss, no fuss.

Rocket Money does say that it can't guarantee the cancellation feature works, but many user reports indicate it works for most popular subscriptions, including streaming services.

Keep an eye on your credit reports and spot changes right away

Your credit report is a vital tool in your personal finances, so ensuring you're aware of any changes is important. Rocket Money not only shows you your credit reports, but it updates and tracks your credit score right in the app.

Compare savings rates

Make sure you're getting the best account for you by comparing savings rates and promotions. Here are some of our favorite high-yield savings accounts to consider.

Account	APY	Promotion	Next Steps
Open Account for SoFi Checking and Savings On SoFi's Secure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	up to 3.80%² Rate info Min. to earn: $0	New customers can earn up to a $300 bonus with qualifying direct deposits!¹	Open Account for SoFi Checking and Savings On SoFi's Secure Website.
Open Account for CIT Platinum Savings On CIT's Secure Website. Member FDIC. Rating image, 4.50 out of 5 stars. 4.50/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	4.10% APY for balances of $5,000 or more Rate info Min. to earn: $100 to open account, $5,000+ for max APY	Earn a bonus of at least $225 after a one-time deposit of $25,000+.	Open Account for CIT Platinum Savings On CIT's Secure Website.
Open Account for American Express® High Yield Savings On American Express's Secure Website. Member FDIC. Rating image, 4.00 out of 5 stars. 4.00/5 Our ratings are based on a 5 star scale. 5 stars equals Best. 4 stars equals Excellent. 3 stars equals Good. 2 stars equals Fair. 1 star equals Poor.	3.70% Rate info Min. to earn: $0	N/A	Open Account for American Express® High Yield Savings On American Express's Secure Website.

Disclaimers

SoFi disclosure:

¹ New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/26. See full bonus and annual percentage yield (APY) terms at sofi.com/banking#1.

² SoFi members who enroll in SoFi Plus with Direct Deposit or by paying the SoFi Plus Subscription Fee every 30 days or with $5,000 or more in Qualifying Deposits during the 30-Day Evaluation Period can earn 3.80% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the stated interest rate. Members without either SoFi Plus or Qualifying Deposits, during the 30-Day Evaluation Period will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Only SoFi Plus members are eligible for other SoFi Plus benefits. Interest rates are variable and subject to change at any time. These rates are current as of 1/24/25. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet. See the SoFi Plus Terms and Conditions at https://www.sofi.com/terms-of-use/#plus.

³ We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at sofi.com/legal/banking-fees/.

⁴ SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations.

Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.

⁵ We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees incurred when using out-of-network ATMs are not subject to reimbursement. SoFi’s ATM policies are subject to change at our discretion at any time.

⁶ Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.

⁷ Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the“30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.

What could be improved

You have to link at least one bank account to use the platform

You must link at least one checking account to your Rocket Money account to use the service, even the free version. There is no way to bypass this and simply work from manually created accounts.

Generally speaking, these types of fintech platforms are reasonably secure. However, if you prefer not to provide your banking information to anyone other than your bank, this app isn't for you.

The best features are paywalled behind the Premium Membership

While it's nice that a free version exists at all, it's pretty bare-bones. If all you want to do is link your accounts so you can see all of your balances in one place, you're covered. You can even do some very basic budgeting.

But all of the most noteworthy features are reserved for folks who spring for the Premium membership. And yes, this includes the subscription service cancellation feature that intrigues so many potential users.

Bill negotiation is expensive and charged in lump sum

Another highly hyped feature of the Rocket Money app is the Bill Negotiation service. Rocket Money claims its negotiators can get better rates on cellphone, cable, and other bills.

The catch? The cost. If the negotiation is successful, you'll need to pay 35% to 60% of the estimated first year's savings.

Worse, you'll be charged the entire fee at time of service. You'll have just 48 hours to request a payment plan if you can't afford the lump sum payment right away or you'll be on the hook for the whole thing.

How much does Rocket Money cost?

Rocket Money offers a free membership tier, but the features are very limited. You'll need to pay a fee to access most of the advertised features and services.

Rocket Money has a somewhat unorthodox pricing structure in that you're presented with a price range and you can "choose" your cost. To be clear, there is no difference to the features you get at any point in the price range, so it makes little sense to choose to pay more than the base fee.

Premium Membership

A monthly Premium Membership costs $6 to $12 a month, your choice. However, Rocket Money does specify that fees "can vary at time and across platforms," so you may see a different range depending on how you sign up.

Paying for a Premium Membership unlocks all of the available features (minus Bill Negotiation, below), including:

Unlimited budgets
Full credit reports
Subscription cancellation services
Net worth tracking
Smart savings accounts
Real-time syncing
Transaction management
Account sharing
Data export

Rocket Money offers a 7-day free trial for the Premium Membership so you can explore the extra features before you pay. A credit card is required for the trial.

Bill Negotiation

Like the membership fee, the Bill Negotiation fee is presented as a range from which you can choose. The fee is equal to 35% to 60% of what you'll save in the first year.

For example, say Rocket Money negotiates a savings on your cellphone bill of $20 a month. The first-year savings would be $20 x 12 = $240. This means you would owe $84 to $144 to Rocket Money.

Rocket Money sends out the bill as soon as negotiations are done. You have 48 hours to request a payment plan or you'll be hit with the entire fee at once.

Rocket Money online ratings

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. Additionally, many folks even said Rocket Money messed up their accounts or overcharged based on inflated savings rates that didn't manifest. This seems like a use-at-your-own-risk service.

iOS app rating: 4.4/5.0 stars
Android app rating: 4.7/5.0 stars

Rocket Money platform

Both the browser and mobile app offer clean interfaces that are fairly intuitive to navigate. Features are easy to find, and there doesn't seem to be much of a learning curve to make use of most of the available tools.

Is Rocket Money safe?

Rocket Money is generally considered to be safe in terms of your financial information. The company says it never stores bank login information.

Instead, it uses Plaid, a third-party service that connects financial institutions (among other things). Both Plaid and Rocket Money say they make use of state-of-the-art security and encryption.

Alternatives to Rocket Money

If you want an app for visual learners: If looking at line after line in your budget makes your eyes bleed, consider Monarch Money. This app includes a variety of diagrams and charts that help you visualize your money flow to easily track spending patterns.

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Monarch Money

Apply now! for Monarch Money

If you want an app with more customization: You Need a Budget is a highly customizable budgeting app that lets you link a variety of accounts as well as add manual accounts for those unusual needs. Create categories, set goals, and even budget with a partner or household.

Best budgeting app overallYou Need a Budget

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Rocket Money might be right for you if:

Rocket Money might be worth exploring if you:

Want to see all of your balances and transactions in one app
Want to track spending and set goals
Want to automate your savings
Don't mind paying a fee for most features

Review sources

FAQs

Yes, Rocket Money is a legitimate budgeting app operated by the same company as Rocket Mortgages. It uses Plaid to link your financial accounts in one place to help you manage and budget your money.
Yes, it often works. Rocket Money claims to have canceled more than 1 million subscriptions on behalf of users. Additionally, many users report successfully using the feature to cancel subscription services. However, it doesn't always work, and there are no guarantees that Rocket Money will be able to cancel your subscription.
Reviews are mixed on whether Rocket Money's bill negotiation feature really reduces your bills. Some reviews say the feature worked as described, while other people say the reduction was temporary and they lost money overall.

This device is too small

Rocket Money Review: Full-Featured Budgeting App That's Surprisingly Easy to Use