My Experience With BillCutterz

billcutterz-47_600Note: I have no affiliation with Billcutterz and don’t stand to gain anything from them. I just thought it was a cool idea and decided to give it a try.

Back in January, while I was doing the save a $1,000 challenge and posting a tip every day, I came across a website with an interesting approach to saving you money. I don’t always have a chance to check out every tip, but this time I decided to be the guinea pig for all you nice folks and I’m here now to report on my experience.

How it works

It’s quite simple. You upload your bills to Billcutterz and they call the companies on your behalf. If they save you money by negotiating your bill down, you split the savings with them 50/50 on a monthly basis (or 60/40 if you pay for the savings in one lump sum). If they don’t save you anything, you pay nothing.

Getting started

The first thing I did was get pdf versions of my bills by logging into my accounts and downloading a bill. For this example  I got my electric, water, internet, and cell phone bills and uploaded them here. Within a day, a bubbly representative named Katie called me and we spoke about the particulars of my bills; how long I had been with each company, whether they had competitors, etc. I had only been with my electric, water and internet companies for about a month. Katie informed me that this would make it a little harder for her to negotiate. The longer you’ve been with a company, the more bargaining power you have.

The process

After the initial call, Billcutterz did everything. When calling one of the companies, Katie conferenced me in to give my consent for them to talk to her. Within a day, I had my results.

The results

My final tally went like this: Katie got me a free month of cell phone service (a $101 value) even though I had already negotiated my bill down with them several times. I was impressed she was able to get blood from that turnip.

Alas, the electric, water and internet were unable to budge, but this could be due to the fact that I have been a customer for less than a month. If you’ve been with the company for a while (or if they have real competition in the area), your results may be different. I am going to ask Billcutterz to try again once I’ve built up some time with these providers.

The verdict

Through my research, I found people’s biggest apprehension was sending very personal information to a company they’d never heard of. This is a valid concern, so I brought it up and was satisfied with the answer. The website is more encrypted than most bank level security, they have an A+ rating with the Better Business Bureau with no complaints in the 3 1/2 years they’ve been in business, and the concerted effort they make to be transparent is more than evident. Katie explained every detail of the deal to me and encouraged me several times to ask questions. I felt tremendously comfortable allowing them to have access to the information.

So, if you’ve haggled with your companies and not gotten anywhere (or would like to get further), I would recommend this as a real option to save a considerable amount of money on your bills.

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10 thoughts on “My Experience With BillCutterz

  1. I like the concept, but I think they have an uphill battle getting people comfortable enough to share info with them. I’m tempted to see what they could do for my ridiculous bills, though. Do they really negotiate better than I could?

    • Yeah that is a hurdle for sure. I was really impressed with them and hope they can overcome it. I’d say give it a try – if they don’t save you anything, you’re not out a dime.

  2. I used them too! BillCutterz is so great because it only took a few minutes and I got HUGE savings, almost $50 off my cable phone and internet bill. They weren’t able to do anything for my electricity because it’s regulated but I am so happy to see what they can do for our insurance bills.

  3. Just wanted to chime in and put anyone’s fears to rest. I love BillCutterz and what they were able to do for me and you will love them too.

    The process is really simple and requires almost no effort on your part. You just send your bills, answer a few questions and some of your providers want your expert to be authorized, but that’s easy too and it’s for your security anyway. They don’t need too much personal information, just your PIN with the company and usually the last four of your social because that’s what the providers use to verify your account.

    I don’t know how they do what they do or why they can get so much savings when I call and can only get $5. They saved me $18 a month on cable and $12 on my cell phone, and that’s even after I called myself a few weeks before to get that $5 off on cable.

    BillCutterz has real experts, they know about your bills and how to save you money.

  4. my sense is that they are probably extending out your contracts. Meaning for cable..they are probably locking you in for 2 more years and same with mobile bills. I hope they are very clear with customer ‘how’ they savings are being achieved.

    • Hey Dom,

      That may be be true, though it wasn’t the case for me or any friends and family that tried their service, so I can’t say for sure. So far, so good, though I don’t know if they are even still in business…

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