I Asked This Money App to Lower My Internet Bill — and It Saved Me $300 (2024)

I write about budgeting and saving money for a living, so I know that one of the easiest ways to stick to your spending goals is to lower your monthly bills. And one way to do that is to negotiate with your service providers. But who wants to sit on hold and argue with customer service? I recently switched to Rocket Money and was curious when I found out it offers a bill negotiation service.

To test it out, I asked Rocket Money to lower my Spectrum internet bill, and I was pleasantly surprised when it shaved $300 off my charges for the year. But there was a catch: I had to pay $90 for this convenience, which ate into my savings. Here’s how the process went so you can decide if you want to try the service yourself.

Using Rocket Money’s bill negotiation service

Trying out Rocket Money’s bill negotiation offer is easy -- you just need the Rocket Money app and an active account (whether you’re a free or Premium user). There’s one catch, though: While the service is free, you’ll pay a portion of the money it saves you upfront.

I was OK with this fee in exchange for not having to call Spectrum myself. If you don’t want to pay, the app can still help you identify services you can negotiate, and they’ll share customer service numbers with you so you can talk to a rep yourself.

If you’re ready to try it out, here’s how it worked for me:

1. You’ll select your service provider

On the app’s dashboard, scroll down to Ways to Save and click Lower Bills.

Next, you’ll see a list of service providers to choose from, but you can also enter your provider’s name in the search box. If that doesn’t generate any results, select Can’t find your service? and enter it there.

Note that Rocket doesn’t negotiate with all providers, so if you can’t find yours, you’re probably out of luck.

2. Provide your account information

Next, I gave Rocket the information it needed to verify my Spectrum account with the provider. You can either enter your user ID and password for the provider or upload one of your billing statements. Verification may take several minutes. I entered my Spectrum login credentials because I didn’t have a billing statement handy.

Once your account is verified, Rocket asks for some additional information, such as your phone number, address and security question answers, to make it easier for it to negotiate on your behalf. Different providers may request different information, such as your account PIN or the last four digits of your Social Security number.

3. Add a payment method and select a fee amount

Finally, you’ll need to add a payment method for Rocket’s fee. Rocket will place a temporary $1 hold on this payment method while they verify it, but it won’t charge you unless it successfully negotiates your bill.

Rocket charges 30% to 60% of your first year’s savings, and you decide how much to pay. I chose 30% because, well, why pay more than you have to?

4. Keep an eye on your email

Once you’ve submitted your request, watch your email for updates from Rocket. It may ask for additional information to help it negotiate your bill, and you’ll receive occasional messages letting you know it’s still working on it. Once it’s finished negotiations, it’ll email you with the result.

In my case, Rocket succeeded in trimming my Spectrum bill by $300 over 12 months. The whole process took about three weeks. Rocket’s 30% cut of these savings came to $90. You can pay this all at once or create a payment plan to pay in installments.

In the confirmation email, Rocket notified me it’d charge my payment method in four days if I didn’t request a payment plan. I chose to pay the full amount in one payment.

Rocket said my new Spectrum rate could take one to two billing cycles to take effect, but I saw the changes reflected on my next billing statement.

What I liked about Rocket Money’s bill negotiation (and what I didn’t)

Using the service was easy, but it might not be right for everyone.

Pros

• Rocket provides regular updates. It took Rocket Money a couple of weeks to negotiate my savings, but it sent regular emails letting me know it was still working on it, which was reassuring.
• I didn’t have to talk to a customer service rep. I hate waiting on hold and haggling with customer service agents -- so much so that negotiating my bills usually stays at the bottom of my financial to-do list. By having Rocket Money do the work for me, I was able to save some money with no stress.
• You have the final say. Rocket lowered my bill without needing to make any changes to my service or enter into a contract with my provider. But if saving you money requires a downgrade, it will always reach out to get your approval first.
• You only pay if Rocket succeeds. Rocket Money only charges you for its bill negotiation service if it saves you money.
• You don’t need to pay for the app. You can use Rocket Money’s bill negotiation services whether you have the free or paid version of the app. Its other services, like subscription cancellation, are only available to premium users.

Cons

• Rocket’s fee reduces your first year of savings. If I’d contacted Spectrum myself, I might have been able to save the same $300 without paying a fee. If you want to maximize your savings, paying a percentage to a bill negotiation service may not be worth the convenience.
• Rocket doesn’t negotiate with all service providers. Rocket Money negotiates with a variety of service providers, from telecommunication companies to streaming services. But it doesn’t negotiate with all of them. I was hoping it could lower my auto insurance, for instance, but the only option it provided was getting a quote from its partner insurance marketplaces.

How to negotiate your bills yourself

Both Rocket Money and PocketGuard, another budgeting app, can negotiate your bills for you for a cut of your savings. (PocketGuard charges 40% of the amount it saves you for up to two years.) But you don’t have to pay someone else to bargain with your service providers. You can do it yourself if you’re willing to invest a little time and effort. Here’s how.

• Do your research. Review your account statements and note how much you’re currently paying, what features you’re paying for and how long you’ve been a customer. Next, see what competitors are charging for similar features and whether your current provider is offering any promotions to new customers. This information can help you build your case for a discount.
• Call customer service and ask for the customer retention department. The first customer service agent you get may not have the authority to offer you the best deal. Cut out the middleman by asking to speak with the customer retention or cancellations department.
• Explain your situation. Tell the agent you’d like to continue being a customer, but you’ll need to consider canceling unless they can reduce your cost. Don’t ask for anything in particular -- a simple “What can you do to help?” leaves the door open for the best deal. Be sure to hedge your statement by saying you’re considering canceling to avoid having your account canceled automatically if the negotiations don’t succeed.
• Lay out your case. If the representative seems hesitant or you don’t like their initial offer, provide the information you’ve gathered to bolster your argument. If you’ve never missed a payment, that’s also worth stating, especially if you’ve been a customer for some time.
• Take notes. If you’re able to secure a discount, write down the date and time you called, the name of the agent you spoke with, the details of the agreement and any confirmation number they provide. This can help you circle back if you don’t see the changes reflected on your next bill.