Change your payment method in Rocket Money from the Settings menu
Open Rocket Money on your phone or computer and go to Settings. Tap or click Payment Methods, then select the card or bank account you want to replace. You'll see an option to Remove or Edit. If you're removing it, Rocket Money will ask you to add a new payment method before you can complete any transactions. If you're editing, you can update the card number, expiration date, or CVV without removing the old one first.
The process takes about two minutes. Rocket Money stores your payment information encrypted, so changing it doesn't affect any subscriptions or bills you've already set up to pay automatically—those will simply charge the new card or account you add.
Key Takeaways
- Navigate to Settings, then Payment Methods, to view all cards and bank accounts linked to your Rocket Money account.
- You can edit an existing payment method (update card number or expiration) or remove it and add a new one.
- Changing your payment method does not cancel or pause any recurring bills or subscriptions already scheduled.
- If you remove a payment method, Rocket Money requires you to add a replacement before you can make new transactions.
- Rocket Money encrypts payment information, so your old card details are not stored after you remove it.
When you need to update a card that's about to expire
If your debit or credit card is expiring soon, update it before the expiration date passes. Go to Settings > Payment Methods, find the card, and tap Edit. Change the expiration date and CVV (the three-digit security code on the back). You don't have to remove the old card first—Rocket Money will use the updated information for all future charges.
If you wait until after the card expires and a bill tries to charge, Rocket Money will decline the transaction and notify you. At that point, you'll need to manually update the payment method and may need to retry the payment depending on the biller's rules.
Removing a payment method completely
To delete a card or bank account from Rocket Money, go to Settings > Payment Methods, select the payment method, and tap Remove. Rocket Money will ask you to confirm and may require you to add a new payment method right away if you have active bills or subscriptions.
Once removed, that card or account is no longer stored in your Rocket Money account. If you later want to use that same card again, you'll need to re-enter all the information. Removing a payment method does not cancel any bills tied to it—you'll simply need to update those bills to use a different card or account.
Adding a new payment method alongside your existing one
You can have multiple cards or bank accounts linked to Rocket Money at the same time. Go to Settings > Payment Methods and tap Add Payment Method. Enter your card number or bank account details (routing number and account number for ACH transfers). Rocket Money will verify the information, which usually takes a few seconds for credit and debit cards and up to two business days for bank accounts.
Once verified, you can choose which payment method to use for each bill or subscription. This is useful if you want to split payments across different cards or if you're testing a new account before removing an old one.
What happens to scheduled bills when you change payment methods
Changing or removing a payment method does not automatically update your scheduled bills. If you remove the card that a bill is set to charge, that bill will fail the next time it's due. You'll need to manually go into each bill or subscription and update it to use your new payment method.
To do this, open Rocket Money, find the bill under Bills or Subscriptions, tap it, and select Edit. Choose Payment Method and select your new card or account. Save the change. This ensures the bill will charge correctly on the next due date.
Troubleshooting a payment method that won't update
If Rocket Money rejects your new card or bank account, the most common reasons are a typo in the card number, an incorrect expiration date, or a mismatch between the billing address you entered and the address on file with your bank or card issuer. Double-check all information and try again.
If you're adding a bank account and verification is taking longer than two business days, contact your bank to confirm they haven't blocked the small test deposits Rocket Money sends to verify the account. Some banks flag these as suspicious and require you to approve them manually. If the problem persists, try removing the account and re-adding it with the exact routing and account numbers from a voided check or your bank's website.
Frequently Asked Questions
Will changing my payment method cancel my subscriptions?
No. Changing or removing a payment method does not cancel any bills or subscriptions. However, if you remove the card a bill is charging, that bill will fail on the next due date. You must manually update each bill to use your new payment method to avoid failed charges.
Can I have more than one payment method in Rocket Money?
Yes. You can link multiple cards and bank accounts to your Rocket Money account at the same time. You can then choose which payment method to use for each individual bill or subscription.
How long does it take to add a new bank account?
Credit and debit cards are verified instantly. Bank accounts typically take up to two business days to verify. Rocket Money sends two small test deposits to confirm the account is real and in your name.
What if I accidentally removed my payment method?
Once removed, a payment method is deleted from your Rocket Money account. You can add it back by going to Settings > Payment Methods > Add Payment Method and re-entering the card or account information.
Does Rocket Money store my old card information after I remove it?
No. When you remove a payment method, Rocket Money deletes it from your account. Your card information is not retained or stored after removal.