Billi Review (February 2024) – Pros, Cons, Features, & Pricing

This Billi review will examine the money management software and help you decide if it’s right for you.

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Last Updated: Feb 24, 2024

Billi

  • Keep track of your expenses
  • Build your credit score in 4-6 months
  • Automate your payments

Never miss a payment again and build your credit for free - Claim this offer

The software makes it simple to understand where your money is going so that you can make wise financial decisions.

Billi is an app that helps you manage all your expenses in one place. It lets you track bill payments, discover lost subscriptions, and identify hidden costs.

Also, you will have more time and resources to concentrate on what matters. Billi keeps tabs on your spending, oversees your finances, and creates a better budget you can follow.

This Billi review will give you an in-depth view of what Billi is about, the pros and cons, and other vital information.

What makes Billi a good option?

In this part of our Billi review, we examine why this money management app is a good choice.

Billi is an app that helps you manage your finances by giving you a one-stop shop for all your financial data.

One of Billi’s principal features is categorizing and monitoring your expenses. With this software, you can link all your cards and monitor your spending on subscriptions.

This app gives you a clear chart showing the average daily and weekly spending. It shows you where your money is going and your spending habits.

You can set up notifications on all your subscriptions in advance so you don’t miss any payments. Plus, it helps you keep track of all your invoices.

billi app review canada - comparewise

Pros and cons of Billi

There are several things we like and dislike about the Billi app. We’ve highlighted some prominent points in this section of our Billi review.

The pros of Billi

  • A user interface that is easy to use.
  • The primary service is free.
  • Get reminders on when your bill payments are due so you won’t forget.
  • Automated rent payments are possible.
  • It has tight security, and all data is encrypted from your phone to Billi’s servers.
  • Easy to set up and link your accounts
  • You can establish your credit history using an existing payment with Billi boost.

The cons of Billi

  • Although Billi is still very new, its reputation is not very strong.
  • Only Equifax receives your rent payments.

Billi review: products and services

The products and services you select will affect your app’s performance. In this section of our Billi app review, we will examine the products and services Billi offers.

Billi Boost

Besides keeping track of your expenses, Billi offers a unique service that allows you to build your credit score. It uses your rent payment to give your credit score a facelift.

The company makes this possible through its partnership with major credit bureaus in Canada. So, you don’t have to rely on credit cards or debt repayment to build your credit profile. This feature is vital since a good credit score might reduce loan limitations and decrease interest rates.

To take advantage of this service, all you need to do is download the Billi boost app and complete the registration.

After registering, link your bank account to your Billi boost app so that it can record your payments. The monthly cost for Billy is $4.99. Billi will keep records of your expenses after everything has been set up.

It will take 4 to 6 months of consistent payments to see an increased credit score. However, this service can help improve your credit score by up to 150 points.

billi boost credit score canada review - comparewise

Billi review: product and service quality 

Before considering if this money management app is right for you, it’s necessary to know how their level of service quality. This gives you an idea of what to expect if you start using the service.

Firstly, Billi is still relatively new, so there are only a few real-user reviews to help you make an informed decision. So far, it has amassed over 10,000 downloads on the Google Play Store with zero reviews.

On the iOS store, several users have praised the app’s intuitive interface and sleek design.

One user also gave Billi a 5-star review for helping them boost their credit score by 124 points after their first rent report. But some people had problems, such as not seeing their credit score go up after 3 months or having trouble linking their accounts.

From the reviews we found, we can say that Billi does what it says it will do: help customers build their credit scores and give them an easy way to keep track of their expenses. However, it’s worth noting that results vary based on your current financial situation and other factors.

Overall, the online version of Billi works great, so you may want to use that instead of the apps.

How to get started with Billi

Getting started with Billy is very easy. You can register for Billi on the website.

  • You will need to input your email address and first and last name.
  • Pick a monthly or yearly subscription plan. The annual plan has a discount of 20% and costs $47.99.
  • Input your address, date of birth, and other necessary details. You will be asked to pay at the end of this process. The payment process will not take long. After the process, you can use your rent payment to create credit.
  • Link your bank account to get free added features. After this, the app will calculate your expenses, so you can start organizing your finances by setting up payment reminders.
billi review - comparewise

Alternatives to Billi

You must first assess how they stack up against alternative services before deciding whether to use this service. Many alternatives are highlighted in this section of our Billi Review.

Billi vs YNAB (You Need A Budget)

YNAB (You Need a Budget) is a money management software that gives you a 34-day free trial. After the trial, you can download YNAB (you need a budget) for $14.99 a month or $99 a year.

This app gives you a clear view of your expenses and makes it easy to stick to a budget. With this app, you can keep track of all your accounts and make a budget by adding up everything you spend. The app assists you in organizing your finances and paying off loans.

Billi vs EveryDollar

EveryDollar is an app that is free to use and has some in-app purchases for premium features. If you want to pay to enjoy the services, it costs $12.99 each month and $79.99 every year.

You can choose which categories you want to keep tabs on your spending, develop savings targets, and set up payment reminders using the personal finance app. Also, you can change your budget and divide its revenues into different sorts.

Premium features include linking your account, getting advice on expense tracking, and developing personalized income reports.

billi app review - comparewise

Billi vs Borrowell

The primary benefit of Borrowell is the free access it gives your credit score. You can get good advice to help you achieve your financial goals. However, Borrowell lacks data on budget and expense monitoring.

Borrowell is a firm with two million clients. It has over 50 financial product partners and is free to use. It gives you a service similar to Billi’s $5 monthly rent-based credit program.

Also, you can use the credit builder tool for an extra $10 each month. With this, you can get a loan, but you won’t get the money immediately. This process allows you to pay monthly and alert Equifax of your payment.

Billi vs Mint

The Mint app is mainly for budgeting. You will get a complete picture and detailed information on your financial activity if you link your account to the app.

You can also watch your cash transactions, lower your monthly payment, and understand how much and what you can spend.

To change or limit your spending, create financial objectives, develop good financial habits, and set a reminder for the alert. A version without advertisements is offered for sale at $1 a month.

It lacks a credit-building function, even though it has more features than Billi.

billi boost review - comparewise

Billi review conclusion

Our in-depth Billi review showed the good and bad things about this app for managing and keeping track of money.

Billi gives you the luxury of knowing how to use your funds without pulling out a spreadsheet to run complex calculations. You can put your expenses and income into categories, which makes it easy to see where your money is going.

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FAQs about our Billi review

What can Billi do with access to my bank account?

Billy can only view the information in your bank account. It can’t be meddled with.

How does Billi use my personal information?

Your personal information is shared with Billi’s partners to provide service. They won’t ever sell your information. Before Billi uses your information to find new insights or improve their services, it is always changed so that it can't be traced back to you.

Is my bank data secure?

Billi protects the security of your data. All data between your phone and the servers are secured. They don’t store any of your data on your phone. The information passing through the servers while you use the app is encrypted. Your information is kept in a fully encrypted database that no one can view.

Why do I receive notifications from my bank after connecting it to Billi?

To keep your apps' data up-to-date, Billi updates it every once in a while. The system stops refreshing the connection if it generates a multi-factor authentication code.

How much does Billi cost?

Billi is a free app for saving money. It lets you link your apps, and it has a boost function. As mentioned in the above Billi review, there is a $4.99 monthly subscription fee for using the Billi Boost.

March 6, 2023
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