Billshark is a consumer savings service that negotiates better rates on your behalf for subscription-based services like cable television, monthly mobile phone plans, and other assorted bills.
What Is Bill Shark?
Billshark was founded in 2015 by Steve McKean, a marketing and technology entrepreneur with 20 years of experience running successful companies. Prior to creating Billshark, McKean was the founder and CEO of comparison shopping platform Accelerator from 2000 to 2014.
Bill Shark Product
Billshark is a paid service, accessible either through a desktop or through its mobile app, that lets you upload bills for services such as cable and satellite television, home security, mobile phone service, internet services, and others. Billshark then investigates your bills and negotiates, on your behalf, in an effort to save you money on these bills.
If Billshark cannot reduce your costs, you are not charged for their services. If successful, Billshark charges 40% of the amount of your new annual savings.
In addition to negotiating better rates on your services, Billshark will also provide service changes/cancellations on your behalf for a flat rate of $25.
Bill Shark Opportunity
In addition to the opportunity to save cash on recurring subscription bills, Billshark also offers a simple referral program to its customers.
For every customer you refer, you receive a $10 Amazon digital gift card. Your referred customers, in turn, receives a $10 credit on the cost of their Billshark services.
Additional opportunities include the Billshark Rewards program, which provides bonuses like $25 gift certificates for dining establishments as a perk for using the Billshark service to negotiate bills successfully on your behalf.
Bill Shark Verdict
From all indications, Billshark seems like a solid service that works well. After taking a look at consumer reviews of Billshark, the consensus is that the service is beneficial and that, in most cases, customers can save anywhere from $300 to as much as $5700 a year by allowing the company to negotiate bills on their behalf.
That being said, there are a few caveats. Billshark calculates savings based on an annual subscription, which means that the total “savings” to a customer is over a 12-month period. However, the fee for successfully negotiating your bills is 40% of that savings up front, so it may not feel like you’re saving much immediately even though your monthly bills will be reduced overall.
Still, with the addition of the Rewards program that provides perks like $25 gift certificates to dining establishments, and the ability to earn $10 in gift credits to Amazon in exchange for referring new business to the company, Billshark does offer some nice bonuses to anyone who uses the service. This makes it an attractive option for many.
While it might not be something you will habitually use, Billshark seems to be a good place to go if you suspect you’re paying too much for any of your subscription-based tech services. The company also says it has plans to begin negotiating utility, insurance, and credit card rates in the future as well, so Billshark may soon become even more useful.