Whether you’re running a household or a business, you know the importance of saving money on services you use every month. But, negotiating better rates on services like cable, Internet, and cell phones can be a big hassle, especially if you’re shy to ask for a discount.
To help customers avoid getting ripped off, many bill negotiation services are starting to cut bills on behalf of their customers. One such company is Bill Slasher. It boasts some of the highest success rates of any bill-cutting service, but will it help you save money?
Find out what you need to know before you sign up.
- A bill negotiation service that focuses on utility bills
- Bill Slasher charges 40% of what you save
- There's a high privacy focus versus the competitors
What Is Bill Slasher?
Bill Slasher is a bill negotiation service. It specializes in reducing the amount you pay on cable, cell phones, Internet, and some business services. The company aims to cut your bill without downgrading your service or locking you into a new contract.
If it can’t reduce your bill, the company will try to increase your level of service at no extra cost.
To sign up, you go to Bill Slasher’s home page and enter basic information about yourself and the bill you want lowered. The information will include information about the service provider, the full name the service provider has on file, the address on file, etc.
You don’t actually have to submit a bill or an account number for Bill Slasher to start doing its work for you.
Bill Slasher boasts an 80% success rate when negotiating lower bills for customers. When it lowers bills, the average savings are an astounding $404 per year. Usually negotiating a new rate takes around a week and a half.
Does Bill Slasher Charge Any Fees?
Bill Slasher only charges fees if it saves you money. If it upgrades your service (free of charge), you won’t pay extra for that. Bill Slasher charges 40% of the money it saves you over the course of a year. You’ll pay the money in three equal installments over the course of three months.
For example, if Bill Slasher cuts your phone bill from $75 per month to $50 per month, it saves you $25 per month or $300 per year. That means you’ll pay Bill Slasher $120 (40% of $300) in three equal installments of $40 each.
Your “effective” phone bill will increase to $90 ($50 new rate + $40 fee to Bill Slasher) for three months. Then your bill will drop to $50 indefinitely.
If you cancel your bill before you’ve actually saved all the money you paid to Bill Slasher, Bill Slasher will refund you for the money you didn’t save. In the example above, if you cancel your phone after four months, you will have saved $100, but paid Bill Slasher $120. As long as you contact Bill Slasher, it will refund you the $20 you didn’t save.
How Does Bill Slasher Compare to the Competition?
Today, many companies provide bill negotiation services.
Truebill is probably Bill Slasher’s leading competition at this time. Like Bill Slasher, Truebill charges 40% of its annual savings to customers. Truebill also allows users to pay a monthly premium to automatically cancel subscription services.
The biggest difference between the two services is how you enroll in them. Truebill reviews your bank and credit card statements and finds bills to lower. Bill Slasher asks you to sign up online and give basic information about the bill you want lowered.
Trim is another bill negotiation service that charges just 25% of savings when it lowers a bill for you. Several readers of The College Investor noted that they had poor experiences with Trim. Personally, I did not experience any issues with the service, though I’ve only saved a few dollars with it.
Compared to these services, Bill Slasher offers more privacy (it doesn’t look at your bank statements), but it’s less robust. You have to take the time to find bills that you want to lower instead of having an app suggest them for you.
Final Take on Bill Slasher
If you’re a stickler for privacy, I recommend Bill Slasher over most other bill negotiation services. It has reasonable fees and can save you a bundle of money. Plus, you won’t have to connect your accounts to the service to see the savings.
If you’re a savvy negotiator, then you may not want or need any of these services — but if you’re a typical time-crunched person, then these are services that can save you both time and money.
Choose one of the services, and start enjoying the savings right away.
Bill Slasher Review
- Commission and Fees - 80
- Customer Service - 80
- Ease of Use - 80
Robert Farrington is America’s Millennial Money Expert® and America’s Student Loan Debt Expert™, and the founder of The College Investor, a personal finance site dedicated to helping millennials escape student loan debt to start investing and building wealth for the future. You can learn more about him here and here.
He regularly writes about investing, student loan debt, and general personal finance topics geared towards anyone wanting to earn more, get out of debt, and start building wealth for the future.
He has been quoted in major publications including the New York Times, Washington Post, Fox, ABC, NBC, and more. He is also a regular contributor to Forbes.