Curious about the complaints against Rocket Money?
Check the receipts here.
Federal Regulatory Complaints (2024)
CFPB/EPIC Complaint (2024)
Fair Credit Reporting Act Violations
Sharing customer credit reports without "permissible purpose"
Using customers' credit reports for self-promotional marketing
Dodd-Frank Act Violations
Unfair, deceptive, and abusive trade practices
False Advertising
Misleading data privacy claims despite promising "we'll never sell your data"
Labyrinthine sign-up process designed to extract fees despite advertising as "free"
Active Class Action Lawsuits (2024)
Fair Credit Reporting Act Class Action
Illegal Data Sharing
Sharing users' personal credit information with third-party partners for advertising/marketing without proper consent
FCRA Compliance Failures
Not maintaining required procedures to verify accuracy of credit reports
Compensation Available
Eligible users can claim up to $1,000 in compensation
Unauthorized Billing (273+ BBB Complaints)
Charges Without Consent
Charging users who claim they never signed up for services
Charging $6-12 monthly without knowledge or consent, totaling $36+ over months
Continuing to charge after cancellation attempts
Charging multiple times per month without authorization
Difficult Cancellation Process
Making cancellation extremely difficult with no phone support
Providing no way to access account information to delete accounts
Users forced to contact banks to dispute charges as fraud
Customer Impersonation & Fraud Issues
Service Provider Impersonation
Service providers reporting "Rocket Money/Truebill has been calling in and impersonating people" all day long
Users' accounts flagged by fraud protection after Rocket Money "posed as me" for bill negotiation
Scammers spoofing users' phone numbers and using their PINs after sharing account details with Rocket Money
Identity Theft Concerns
Multiple users reporting suspicious activity after providing account details
Service providers calling customers to verify unusual account access attempts
"Bill Negotiation" Scam Reports
Fake Savings Claims
Locking customers into worse 5-year contracts at higher rates ($80/month to $86/month) while charging $200 fees
Charging $140 for "negotiations" that actually increased monthly bills by $5
Claiming credit for bill reductions they didn't negotiate, then charging fees for work done months earlier by customers
Unauthorized Contract Changes
Renewing internet contracts for entire years without permission
Users discovering rate increases of $20/month despite Rocket Money claiming $45/month savings
Taking fees upfront before users can verify actual savings
Customer Service Failures
No Real Support
Users unable to reach actual company representatives, only automated responses
Structured like a scam with no recourse when problems arise
Promised 24-hour response times with users waiting 3+ days
No phone support available for urgent issues
Unresolved Disputes
Users forced to contact attorney general's offices
Multiple follow-ups required to achieve any resolution
Many complaints marked "resolved" despite customer dissatisfaction
Expert Analysis & Industry Warnings
Financial Expert Warnings
270+ Better Business Bureau complaints in three years showing "troubling patterns" and "systemic issues"
Dave Ramsey's financial team warns users get "randomly charged" and continue getting charged "even after trying to cancel"
Reddit discussions reveal "divided opinions" with users claiming data selling is the company's "primary business model"
Industry Investigation Findings
Described as operating "in a gray area" with "serious ethical questions"
Business model may rely on converting free users without clear consent
Volume and nature of complaints suggest "systemic issues rather than isolated incidents"
Sources:
EPIC CFPB Complaint, 2024:
https://epic.org/documents/epic-cfpb-complaint-rocket-money/Class Action Lawsuit Documentation: https://lantern.labaton.com/case/rocket-money
Better Business Bureau Complaints:
https://www.bbb.org/us/md/silver-spring/profile/billing-services/rocket-money-inc-0241-236043013/complaintsConsumer Investigation Report:
https://shoppersvila.com/review/rocket-money-legit-or-a-subscription-scam/Trustpilot Customer Reviews: https://www.trustpilot.com/review/rocketmoney.com
ConsumerAffairs Reviews: https://www.consumeraffairs.com/finance/truebill.html
Ramsey Solutions Analysis: https://www.ramseysolutions.com/budgeting/what-is-rocket-money