This Bot Will Fight to Lower Your Bills and Save You Money

Trim automatically negotiates lower bills and cancels unwanted subscriptions with one click.

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Every month, when your bills come in, are you taken aback by how much companies are charging you? Are you fed up with paying high interest rates on your credit card? Do you have recurring charges that you want to get rid of, but you just don’t have the time?

Then Trim is the solution for you.

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Summary

  • Trim is an app that negotiates with companies to save you money on your bills and help you lower your credit card APR
  • It will analyze spending patterns and show you ways to cut back
  • Trim uses 256-bit SSL encryption and two-factor authentication to ensure your data is safe
  • Trim charges a fee of 33% of your yearly savings for the free version or $99 for the premium version with no 33% fee

Pros

  • Trim will automatically take care of your bills, credit card interest, subscriptions are more.
  • All you need to do is download the app and let Trim do the work, meaning you don’t have to spend hours on the phone with companies.
  • It is highly secure and will protect your information with many levels of security.

Cons

  • You have to pay Trim a 33% fee based off your yearly savings from your bill if you have the free version.
  • The free version of Trim is limited, so to unlock further savings you’ll need to spend $99 a year on Trim premium.
  • It’s not a thorough enough app for budgeting, saving and investing, so you’ll also need to download better financial planning apps.

Table of Contents

trim mobile app
Credit: Trim

What Is Trim?

Trim is an app that does just what it says: It trims your bills. Since 2015, the company has been helping users save big on their bills. It’s basically a middleman that does the negotiating for you. Over the last month, Trim has saved users more than $1 million on their bills.

Plans and Pricing

Trim has a free and premium version, which costs $99 a year.

Free Trim Features

With the free version, you can see all your finances in one place on the app’s dashboard. You also get subscription monitoring, savings suggestions, bill reminders and a debt calculator.

  • Personal Finance Dashboard
  • Personalized Spend Alerts and Reminders
  • Detection and Fighting of Overdraft Fees
  • Finding and Cancelling Old Subscriptions

Trim Premium Features

With the premium version, you can access what’s in the free version and much more. Trim will get on the phone with your bank to negotiate interest rates, give you unlimited email access to their financial planners, negotiate your bills and set up payment plans and settlements, automate credit card transfers to pay your balance faster, automate savings into a high-yield savings account and cancel unwanted subscriptions.

Bank Negotiation Trim gets on the phone with you and your bank to negotiate your interest rates and help you find other savings.
Financial Coach You have unlimited access to Trim financial planners via email.
Bill Negotiation Upload bills and Trim will negotiate on your behalf to save you money.
Medical Bill Negotiation Trim negotiates with your medical bill provider to set up a 0% payment plan or even settlements and discounts.
Automatic Credit Card Payments TrimPay feature automates transfers toward your credit card to help pay down your balance faster.
High Yield Savings Automate savings into an FDIC-insured high-yield savings account with 4% bonus on the first $2,000 and 0% for the rest of your funds
Subscription Cancellation Trim will cancel unwanted subscriptions for you.

In order to do all of this, Trim will view your transactions from your linked credit card and checking accounts and determine which transactions are recurring. You’ll be able to see how much you’re spending on these transactions, choose which ones you want to cancel and then wait for Trim to update you on the status of the cancellation.

For negotiation, you will send the bill to Trim, and then they will get in touch with the company. If Trim can help you, they will let you know, and then you can choose whether or not you want to move forward.

Negotiating Bills With Trim

Trim will work with your credit card providers to lower your APR, which is huge, as the average credit card APR is an astounding 16.01%. Think about it: most high-yield savings accounts offer less than 2% interest, and even if you do well with stock market investments, the average annual yield is only 10%. Every month that you carry a credit card balance, you’re paying huge amounts of interest – perhaps hundreds or even thousands of dollars in interest.

The app will also help you save when it comes to unfair bank fees, like overdraft fees. If you’ve accidentally spent more than what was in your account, you may have been hit with a high fee of around $33, which is about the average. You also might have spent hours on the phone with your bank to try to reverse those fees, to no avail. You can let Trim do the work for you and try to get back your money.

Trim can also negotiate your medical, cable, internet and phone bills by contacting these providers and seeing if they’ll lower your bills for you. If they’re successful, just note that you’ll pay them 33% of your yearly savings as a negotiation fee if you have the free version (it’s free in the premium version). They explain that if they save you $10/month for 12 months, they will take a $40 fee.

Canceling Bills With Trim

Let’s say you signed up for a one-month free trial for a product, but you had to provide your credit card information. You forgot to cancel the subscription but still get charged month after month. Perhaps you signed up for a service that claimed they would cancel your subscription automatically after a certain period of time, but they continue to charge you without your permission.

Trim can help you address these issues and cancel any bills for products and services that you no longer need. You may not even be aware of these recurring charges. The app will point them out to you, and you can decide whether to leave them alone or have Trim step in

Simple Savings

With the Trim premium version, you’ll get access to Simple Savings, an automated savings account that gives you a 4% annual reward on your first $2,000, and then 0% for the rest of your money. You can set up automated weekly transfers from your checking account so you don’t even have to think about it.

How Much You Can Save With Trim

If you have high-interest credit cards, pay many monthly subscription fees, are dealing with medical or credit card debt and have overdraft fees from your bank, Trim could save you hundreds or thousands of dollars per year. All you have to do is link your accounts, select the free or premium version of Trim and see where you can save big to get started.

Get Started With Trim Today

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Kylie Lobell

Kylie Ora Lobell is a personal finance writer in Los Angeles. She's written for Slickdeals, Visa, Mastercard, OppLoans, MoneyUnder30, LegalZoom, and Neil Patel Digital, and she's been published in The Washington Post, New York Magazine, the Los Angeles Times, and the Jewish Journal of Los Angeles.

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