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Table of Contents
At first glance, there is quite a bit of similarity between the applications. They are all designed to slash your costs, renegotiate your payments and save your money. If you look closely enough you will see that each one offers something a little extra. And that’s where you have to do a deep dive to fully appreciate what sets them apart. If you drive for rideshare or delivery, the biggest wins usually come from your phone, internet and insurance bills, so start there. Before you hand over a bill, call your provider yourself and ask for a retention offer, because a ten-minute call is free and can save you the negotiation fee entirely. Use an app when you do not have the time or patience for that call.
Features
With the staggering amount of new apps being developed and marketed these days, one of those most important aspects is …what can it do for you? Well, these apps come with all sorts of features from scanning your account for further potential savings to giving you the ability to analyze hundreds of bills to monitor for lower rates. And that’s not all: they work with thousands of providers, although the exact number and which providers are supported change over time.
Rocket Money (Formerly Truebill) Features
Rocket Money (formerly Truebill) works with many major companies. That’s everyone from DirecTV to ADT Security Systems. Coverage depends on the provider and your location, so check that your companies are supported before you sign up.
Here are a few of the companies listed on their platform:
- Comcast
- Charter Spectrum
- Frontpoint Security
- EFax
- Boingo Wireless
Bill Savings
Rocket Money has long advertised a high success rate on bill negotiations, but results vary by provider and bill, and some negotiations end with no savings (and no fee). Treat any headline savings figure as a best case, not a promise.
Account Savings Scans
Rocket Money has long advertised a high success rate on bill negotiations, but results vary by provider and bill, and some negotiations end with no savings (and no fee). Treat any headline savings figure as a best case, not a promise.
Zero Savings Guarantee
One of the best things about this app is that it only charges its negotiation fee when it actually lowers your bill. If a negotiation does not save you anything, you pay nothing for that request. Bill negotiation is available on the free plan as well as on Premium, so check the fee percentage before you authorize a request.
Hiatus Features
Hiatus has had over a million users since it launched around 2015, but recent app-store reviews are mixed, and several users complain about negotiation fees and results. Read current reviews before you authorize any negotiation.
Bill Alerts
Not only does this app scan your accounts to see what bills you owe they also provide friendly bill reminders of when your next bill is due. That’s saving you money on top of saving your money.,..because they’re helping you avoid costly late fees, disconnection notices, and the hassles of a payment agreement.
Real Time Bill Negotiation
All of the apps on today’s review help you to renegotiate your bills for a lower savings rate. But Hiatus takes aggregated information from millions of sources in their database to get you the best savings possible. They use current trends by demographic cares to a price that can’t be beaten.
Free Trial Cancellation
Okay, guys, I can’t even begin to tell you how many times I’ve started a free trial on my Roku, or a television channel, or internet feature and completely forgotten about it. Because seriously, who puts that on their calendar? On the flip side, I can tell you all too well the look of surprise you will experience once five of those suckers come out of your bank account in one day…when the funds were clearly allocated for something else. Hiatus takes the guesswork out of this by allowing you to begin free trials on their application and reminding you to cancel them…before you get charged.
Net Worth Tracker
There are millions of people out there who don’t know their net worth. And for those who do, maybe more familiar with wealth management apps like Personal Capital.
Hiatus also offers a real-time tracker that gives you advice on increasing assets and the best allocations for your investments.
They also offer many other features such as :
- Bill analytics
- Spending trends analyzer
- Budget tools
- Budget planner
Trim Features
Trim was one of the veterans of bill negotiation and savings tools. Since OneMain Financial acquired it in 2021, Trim has been offered mainly to OneMain customers, and some of the features described below may not be available to the general public. Check availability before you sign up.
Bill Credits
Trim offers you savings by gathering your bills and slashing for the highest savings rates. Although you won’t see the results immediately, you will begin to see various bill credits start to show up on your accounts.
Budgeting Services
With its monthly budget monitoring service, you can basically set it and forget it. Trim stays on top of all of your monthly expenses and sends you alerts to let you know when you don’t have enough funds to cover a purchase or potential pre-authorized transaction.
Trimpay
Trimpay allows you to set weekly automated payments from your checking account to make partial credit card payments each month until the balance is paid in full. You can do this for as many cards as you want and be debt-free in no time.
But, it’s doesn’t stop there they also offer the following services:
- High yield savings account (rates change)
- Personal Finance Coach
- Credit Climb Feature
Net Worth Tracker
There are millions of people out there who don’t know their net worth. And for those who do, maybe more familiar with wealth management apps like Personal Capital.
Hiatus also offers a real-time tracker that gives you advice on increasing assets and the best allocations for your investments.
They also offer many other features such as :
- Bill analytics
- Spending trends analyzer
- Budget tools
- Budget planner
Fees
I know you may be wondering if these apps are supposed to save me money, then why do I have to pay any fees? The truth is that none of these apps can do something for nothing, although one of them comes pretty darn close.
Once you take a look at the fee structure and experience the cost-saving benefits for yourself you will realize that it’s worth every penny. Seriously? If somebody told you that they could save you $1,000 and you only had to give them $10 would you do it? I sure in the heck would.
Still not convinced? Well, let’s get into it…
Rocket Money Fees
Rocket Money (formerly Truebill) costs more than the others, but it also does more. It can go after your bills and negotiate them down, and it also offers subscription management and budgeting tools.
The app has a free plan, and a paid Premium plan whose price you choose (reported at roughly $7 to $14 a month). Bill negotiation carries a separate fee of 35% to 60% of your first-year savings, and you pick the percentage.
For example, if Rocket Money saves you $30 a month on a cable and internet bill, that is $360 in the first year. At a 40% fee you would pay about $144 once and keep roughly $216. Rocket Money has been changing how it charges for negotiation, so confirm the current pricing in the app before you authorize a request.
Hiatus Fees
Hiatus has a fee that isn’t typically what you would want to see in a bill savings application. However, for the level of service that it provides as well as net worth tracking, which typically is a product of wealth advisers or Robo advisors,…you can consider it a premium. Hiatus has historically charged a fee of around half of your first-year savings, so confirm the current terms in the app. Although to soften the blow, they do allow two payment options to suit your needs.
- Upfront payment of fees
- Monthly payment option according to savings amount
Trim Fees
Trim was known for low fees, with users reporting a share of savings somewhere between 15% and a third, depending on the period. Since the OneMain acquisition, bill negotiation is mainly offered to OneMain customers.
Editor’s note: Because Trim is now limited mostly to OneMain customers, we recommend Rocket Money for most readers. Whichever app you choose, compare the negotiation fee before you authorize anything.
Added Bonuses
- Rocket Money offers a paid Premium plan with budgeting tools, subscription cancellation help and customer support chat.
- Hiatus offers rate analysis on common bills and loans, such as student loans, mortgage payments and insurance premiums, to find savings in other areas of your finances.
- Trim, now part of OneMain, offers financial coaching tools to OneMain customers.
Rocket Money vs Hiatus vs Trim: Who Takes Your Money Further?
The Top Pick: Rocket Money
Hiatus offers a net worth tracker and free-trial cancellation reminders, which is where many people lose money. However, its fees are high and recent reviews are mixed.
Trim is now mainly available to OneMain customers, which limits its usefulness for most readers.
Rocket Money stands out for its free plan, subscription management tools and the fact that you pay a negotiation fee only when it actually lowers your bill.
Overall, Rocket Money has the highest fee per negotiation but is the most complete and widely available of the three.
Easiest to Use
- Bill Savings
- Analyzes Interest Rates
- Net Worth Tracker
- Due Date Reminders
- Bank Level Encryption
Lowest Fees
- Bill Savings
- High Yield Savings Account
- Debt Management Tools
- Automates Debt Repayment
- Bank Level Encryption
Sharee Biggs is a Certified Financial Education Instructor, Qualified Tax Professional and personal finance writer who helps millennials, women and moms reach their money goals by getting serious about their personal finances.
