Billshark Review – Negotiating to Lower Your Bills
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Billshark is a bill negotiation service designed to help people lower their monthly bills.
7/10
Cost
6/10
Features
8/10
Ease of Use
9/10
Add-ons
6/10
If you pay for one or more subscription services, you’re likely overpaying. (This could be true for your monthly bills, as well.) You may even have some unknown or forgotten recurring bills from your checking account.
If you’ve been caught off guard by a surprise fee or bill, Billshark may be the ideal solution. Here’s our Billshark review, a bill negotiation service with a 90% success rate.
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What is Billshark?
Billshark is a bill negotiation service designed to help people lower their monthly bills. According to the company website, Billshark’s expert negotiators have a 90% success rate. In addition to negotiating lower rates on monthly expenses (e.g., cell phone and internet bills), Billshark can cancel unwanted subscriptions.
Billshark was founded by Steve McKean and is backed by “Shark Tank” star and entrepreneur Mark Cuban. Since its launch in 2015, Billshark has been featured in The Washington Post, the Wall Street Journal, and CBS News, among other news outlets. It also boasts an A rating on the Better Business Bureau (BBB) website.
Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills
- Easily Find & Cancel Unused Subscriptions
- Save Up To $729/Year with Truebill
- 80% Of Users Save Money
- Track Your Spending with Ease
How does Billshark work?
Before starting, you may want to use Billshark’s Savings Calculator to see how much you could save. To do so, choose the service type (e.g., home security, wireless, internet, Pay TV, landline phone service, satellite radio, other), service provider, and enter your current monthly payment.
Once you’ve chosen the service type and provider and added your monthly payment to Billshark’s Savings Calculator, you should see a pop-up message that tells you how much Billshark could save you based on your entered information.
If you’re interested in moving forward, click “Get Started.” You’ll then be asked to log in or create an account with your Apple or Google account. You can also manually type in your information.
Once you’ve entered your info, click “Next.” You’ll then be asked to upload your bill to the website. Billshark also lets you “Get your bill” by connecting your account. If you don’t have access to a PDF of your bill or online account, just enter your account number and service address, and Billshark will take care of the rest.
You can add as many types of bills as you’d like to this screen. Once you’ve uploaded the bills you’d like Billshark to negotiate, you’ll be directed to a payment screen with the following message:
There is a one-time fee of 40% of savings for negotiations before promotional discounts. Billshark guarantees savings, and there are no fees.
To continue, Billshark requires a debit or credit card number. You must also authorize Billshark’s negotiators to negotiate on your behalf.
How much does Billshark cost?
Billshark charges a one-time fee of 40% of your total savings. According to the website, members are only charged if the company can help lower their bills. Billshark also charges users $5 per subscription cancellation. If needed, users can enroll in a payment plan, which costs $9.
Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills
- Easily Find & Cancel Unused Subscriptions
- Save Up To $729/Year with Truebill
- 80% Of Users Save Money
- Track Your Spending with Ease
Billshark features
In addition to its negotiation and cancellation services, Billshark offers the following features.
Insurance comparison
Billshark doesn’t offer home or auto insurance negotiation. Still, it does offer a free service through Answer Financial's free Rate Tracker program in which members can compare home and auto insurance rates.
To use Billshark’s insurance rate shopping feature, log in to your account, select “upload more bills,” select “insurance,” and then “insurance type,” and you’re done. Answer Financial will reach out with the best rates available.
Billshark rewards
Billshark features a rewards program for members who send in their bills. According to the website, Billshark sends a redemption code members can use in exchange for a $25 Dining Reward, $50 Travel Reward, $50 Grocery Coupon, or $100 Shopping & Dining Reward. What’s more? Even if Billshark cannot get you a better deal, you still get to keep the reward.
Billshark for business
If you’re a business owner, Billshark may be able to help you save money on business expenses. According to the company website, Billshark can help lower recurring bills, lower your reimbursements for wireless and internet costs, and lower employees’ bills too.
Billing categories include:
- mobility
- telecom
- waste management
- SaaS subscriptions
- document services
Service outages
If your phone or cable service experiences an outage, you may be able to claim a credit for the period you didn’t have service. Billshark can help with this via its Service Outage page. Just follow the on-screen instructions, and Billshark will contact your provider to help you get your money back.
Who is Billshark best for?
Billshark is best suited for people interested in lowering their bills but lack the time to do so. According to the Billshark website, the company can help members save up to 25% on their monthly bills.
Billshark is also a good option for people looking to cancel one or more of their monthly subscriptions without going through the hassle of doing it themselves.
Who shouldn’t use Billshark?
Anyone uncomfortable giving out their personal information shouldn’t use Billshark. Billshark also charges a 40% commission fee, which may be a deal-breaker for some. Billshark doesn’t offer negotiation services for utility or insurance bills.
Pros and cons
Pros
- Simple sign-up process. Billshark is easy to use and creating an account takes just a few minutes.
- Saves time. Billshark negotiates on your behalf, which saves you time.
- Notifications. The company also ensures to keep you involved every step of the way by sending notifications and updates to your phone (via the Billshark app).
- Rewards program. Billshark rewards members just for sending in their bills. Get a $25 Dining Reward, $50 Travel Reward, $50 Grocery Coupon, or $100 Shopping & Dining Reward, depending on the bill you send in.
- Billshark guarantee. If Bilshark is unable to get you a lower rate, you don’t have to pay a dime!
Cons
- Billshark fees. Billshark’s fees are kind of high. Billshark charges a 40% commission fee and $5 per canceled subscription.
- Limited services. Billshark does not negotiate insurance, utility, or credit card bills.
- Upfront payment. While Billshark does offer a payment plan, the company expects its members to pay the 40% commission fee within five days of receiving their invoice.
Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills
- Easily Find & Cancel Unused Subscriptions
- Save Up To $729/Year with Truebill
- 80% Of Users Save Money
- Track Your Spending with Ease
Billshark vs. Rocket Money vs. Trim
Platform | Fees | Additional subscription costs | App cost |
Billshark | 40% commission fee | $5 per subscription cancelation | Free |
Rocket Money | 35% to 60% commission fee | $6 to $12 per month | Free |
Trim | 15% commission fee | N/A | Free |
Rocket Money
Rocket Money is similar to Billshark because it helps users cancel subscriptions and negotiate savings on their monthly bills. Unlike Billshark, however, Rocket Money allows members to cancel recurring payments themselves. The app tracks users’ transactions via their bank account and generates a list of recurring payments and their due dates. Rocket Money also charges a 35% to 60% commission fee.
Trim
Trim has the lowest commission fee of these three platforms. With Trim, members are required to pay a 15% commission fee. In addition, Trim gives users even more options to save — Trim can help users lower their medical, phone, cable, and internet bills. However, according to the Trim website, medical bill negotiation and bank negotiation are unavailable in Arkansas, Arizona, Connecticut, Washington D.C., Massachusetts, Rhode Island, and Vermont.
FAQs
How much do Billshark services cost?
Billshark charges a one-time 40% fee of your total savings, capped at two years. This means, that if Billshark reduces your bill by $15 per month for one year, you’ll be charged $72.
Are there any hidden fees?
No, Billshark does not charge any hidden fees. If their negotiators are unable to lower your bill, you don’t pay a dime.
Is Billshark a scam?
Billshark is accredited by the Better Business Bureau (BBB) and has an A rating. The company also has 62 customer reviews on its BBB profile, so you can check out what they have to say if you’re skeptical about signing up.
Use Rocket Money to Cancel Unwanted Subscriptions & Lower Your Bills
- Easily Find & Cancel Unused Subscriptions
- Save Up To $729/Year with Truebill
- 80% Of Users Save Money
- Track Your Spending with Ease
The bottom line
While you can negotiate your bills independently, the process can feel a bit overwhelming — especially if you’ve never done it before. Billshark makes negotiating for a lower rate easy. Just send them your info, and watch the savings pour in! Billshark can also cancel any subscription services you’re not using.
Before you sign up, be sure to weigh your options. If the 40% commission fee is a deal-breaker, you may consider using a cheaper service like Trim or negotiating your bills.
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Writer
Tabitha Britt is a New York-based freelance writer and editor whose work has appeared on INSIDER, the Huffington Post, and Taste of Home. When she's not glued to her computer screen, she can be found walking her beloved pooch, Biscuit.
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