Rocket Money is one of the fastest-growing personal finance apps today. Formerly known as Truebill, the app helps users manage subscriptions, track spending, and save money. It has become popular for its simple layout, smart features, and ability to help people take better control of their finances. But with so many people sharing sensitive financial information in the app, a common question keeps coming up: is Rocket Money safe?
In this review, we’ll break down what the app does, how it works, and whether or not you should trust it with your personal data. We’ll also explore who it’s best for, what makes it different, and what users should know before signing up.
Rocket Money is available on both iOS and Android. It is owned by Rocket Companies, the same group behind Rocket Mortgage. That adds a layer of credibility and brand recognition that newer fintech startups often lack. The company aims to simplify financial life for everyday consumers, and Rocket Money plays a key role in that strategy.
Once you sign up for Rocket Money, you can connect your bank accounts, credit cards, and even investment accounts. The app pulls in your transaction data and gives you an overview of where your money is going. It automatically detects recurring charges, like subscriptions, gym memberships, streaming services, and more. You can then choose to cancel those directly from the app with a tap.
This subscription canceling feature is what made the app famous. Many people sign up for free trials and forget to cancel them. Others don’t realize they are being charged for services they no longer use. Rocket Money highlights these charges and offers to cancel them on your behalf. It’s convenient and often saves users hundreds of dollars each year.
Another helpful feature is the budgeting tool. Rocket Money allows you to set spending limits in different categories like groceries, dining, and entertainment. The app alerts you when you’re close to going over your budget. It’s not as advanced as some other budgeting apps, but it gets the job done and is easy to understand.
Rocket Money also helps users negotiate bills. If you’re paying too much for your internet, cable, or phone service, Rocket Money will try to lower the bill for you. You simply upload a copy of your bill, and the app’s team reaches out to the service provider. If they succeed, they take a percentage of the savings as a fee. If not, you owe nothing. This performance-based model has worked well for many users who don’t want to deal with customer service reps themselves.
Now back to the main concern: is Rocket Money safe?
The short answer is yes. Rocket Money uses bank-level encryption to protect your data. All connections to financial institutions are read-only, which means the app cannot move money or make changes to your accounts. It can only view your transactions and account balances. That lowers the risk in case of a data breach or security issue.
In addition, Rocket Money uses Plaid to connect to most financial institutions. Plaid is a widely used financial data service that powers apps like Venmo, Robinhood, and Coinbase. Your bank login credentials are never stored on Rocket Money’s servers. They are handled through Plaid, which adds an extra layer of protection.
Privacy is another important factor. Rocket Money states that it does not sell your data to third parties. That’s a major concern with many free apps that rely on data sharing to generate revenue. Rocket Money instead makes money through premium subscriptions, bill negotiation fees, and optional savings tools.
Still, no app is completely risk-free. When you give any company access to your financial data, you need to weigh the benefits against the possible risks. Rocket Money appears to take security seriously and has earned high marks from users and reviewers alike. But users should always stay alert, use strong passwords, and enable two-factor authentication whenever possible.
For those asking whether Rocket Money is worth it, the answer depends on what you’re looking for. If you want a simple tool to cancel subscriptions, track spending, and help you save money, it’s a solid choice. The free version includes most of the core features, while the premium version unlocks things like automatic savings, custom budget categories, and priority support. Premium pricing is flexible and lets users choose how much they want to pay per month, which is unique in the finance app world.
Rocket Money is best for people who want an easy way to stay on top of their bills without diving too deep into spreadsheets or complex financial plans. It’s not designed for serious investors or people looking to build multi-layered budgets. But for the average person trying to avoid surprise charges and save a little more each month, it can be a powerful tool.
The app has a clean interface and is regularly updated with new features. Support is available through email and in-app chat, and most users report positive experiences. The cancellation process is straightforward if you decide to stop using the app.
So, is Rocket Money safe? Yes, the app follows strict security standards and uses trusted partners to protect your financial data. Is it useful? Also yes, especially for users looking to manage subscriptions, keep track of spending, and get help lowering bills.
Rocket Money isn’t a magic fix for financial problems, but it offers real value for people who want to take small steps toward better money habits. It’s easy to set up, free to start, and can pay for itself quickly by helping you cut unwanted expenses.
If you’ve ever felt frustrated by surprise charges or forgotten subscriptions, it might be worth trying out Rocket Money. Just like any tool, it works best when you stay engaged and review your finances regularly. But as far as personal finance apps go, it’s one of the safest and most user-friendly options available today.
