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.
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.
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.
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.
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.