Comparison Review: How Will BillGuard (Prosper Daily) Compete With Mint?
In 2016, BillGuard was AdvisoryHQ’s highest ranked “most powerful financial protection and monitoring app of the year.” This isn’t surprising, since BillGuard has been a superior personal finance software.
Since its inception in 2010, the BillGuard app has been a trusted piece of expense tracking software, acquiring over 1.3 million users.
While BillGuard has certainly seen its own success, the BillGuard app has recently been acquired and rebranded as the Prosper Daily app. As a part of Prosper Marketplace, how will it compete with leading financial planning software like Mint?
(See the section below titled: BillGuard vs. Mint Comparison.)
Questions That Led to this BillGuard Review
As one of the fastest-growing news media sources that performs detailed reviews of financial platforms, apps, software, and advisors, we frequently run into questions about BillGuard and its rebranding as the Prosper Daily app.
Some of these questions include:
- What is the BillGuard app?
- Have there been any changes since the BillGuard app became the Prosper Daily app?
- What’s the difference between (Prosper Daily) BillGuard vs. Mint?
- Where can I find a BillGuard review that covers the various pros and cons of using BillGuard?
As the founder of AdvisoryHQ, my main focus is to always be at the forefront of financial technology innovations.
As such, I am always interested when I run into platforms like BillGuard, Mint (sold to Intuit for $170 million), Prosper Daily, and a wide range of other highly innovative tools that are disrupting the financial segment.
BillGuard & Prosper Daily
BillGuard started as a piece of financial planning software to offer expense tracking and credit monitoring services. In 2015, BillGuard announced that it would soon be acquired by Prosper Marketplace.
In 2016, this merger marked the combination of two of the most powerful names in personal finance software.
As a result, the BillGuard app became the Prosper Daily app.
(Prosper Daily) BillGuard vs. Mint Comparison Review
With the acquisition of BillGuard and the rebranding of BillGuard app, Prosper Marketplace is making huge waves. The Prosper Daily app is the first of its kind for Prosper Marketplace.
The acquisition marks wider territories for both companies and the ability to create competitive financial planning software together.
So, what does this mean for the BillGuard app and our BillGuard review?
Because the merger is still new, there are plenty of people who are asking questions about the BillGuard app and looking for BillGuard reviews, without knowing that this personal finance software is now a part of Prosper Daily.
In fact, the BillGuard website still retains its original domain name.
Merging two companies takes time, and it may be another year until consumers recognize the BillGuard budget software as synonymous with Prosper Daily personal finance software.
As such, when comparing BillGuard vs. Mint, we will really be talking about the Prosper Daily app vs. the Mint app.
Comparison Review List
The list below is sorted alphabetically (click any of the names below to go directly to the detailed review section):
High Level Comparison Table
|BillGuard vs. Mint|
|BillGuard (Prosper Daily)|
Monitoring credit, identifying charges, & budgeting
Table: The above list is sorted alphabetically
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BillGuard Review (Prosper Daily)
To satisfy some of these questions about the BillGuard app, particularly when considering BillGuard vs. Mint, we began by reviewing as much informational content as we could find on BillGuard (Prosper Daily).
What Is BillGuard?
BillGuard (Prosper Daily) is one of the fastest-growing expense tracking apps that automatically monitors your credit/debit card expenses and quickly pinpoints suspicious activities and charges.
However, it does a lot more than just tracking your spending.
In essence, it is a three-in-one powerful monitoring app with the below components:
- Money tracking
- Credit monitoring
- Identity protection
BillGuard is one of the best ways for you to track your spending costs, and protect your cards from fraud and errors.
Its analytics section gives you a comprehensive snapshot of where you’re spending your money. The BillGuard app (Prosper Daily app) provides real-time displays of your credit/ debit card charges as soon as they occur.
Using the power of crowdsourcing as a predictive alert system, it is able to very rapidly flag charges that have been reported as suspicious, questionable or unauthorized.
When the BillGuard app (Prosper Daily app) flags such a transaction, you are notified and provided with the option of validating/confirming that the charge(s) is valid.
If you don’t recognize the charge, you can instruct the BillGuard app (Prosper Daily app) to perform additional due diligence by contacting the merchant for additional information.
Benefits of BillGuard (Prosper Daily) Tracking:
- Having all your accounts in one centralized location enables you to effectively and quickly manage your money.
- BillGuard (Prosper Daily) makes it very easy for you to verify a charge or flag new charges on your credit and debit cards.
- The app provides high graphical images of places you’ve shopped at and alerts you when your cards are used away from you.
Benefits of BillGuard (Prosper Daily) Protection:
- BillGuard is the fastest-growing transaction monitoring app across the globe.
- It easily flags suspicious credit or debit card charges and provides timely “new data breach” alerts.
- Even if you don’t recognize a charge on your statement, you can easily get details through BillGuard’s community-edited information.
- Unfair charge? Get your money back with just a couple of taps. Over $60 million in wrongful charges have been found.
BillGuard Reviews (Prosper Daily)
While the BillGuard app has been rebranded with the merger, the functionality remains the same: as Prosper Daily, the BillGuard app continues to offer budget software, expense tracking, credit monitoring, and alerts for potential fraud.
We reviewed what consumers were saying about the BillGuard app on major review and download platforms like iTunes and Google Play.
This is rather impressive since consumers usually only remember to leave reviews when they’ve had a bad experience.
Changes to the BillGuard App
As the BillGuard app has merged to become the Prosper Daily app, there seems to be one important change. In the past, BillGuard was a free expense tracking app.
Now, as Prosper Daily, users can choose between a free or paid version.
For $9.99/month, the paid version of the Prosper Daily app includes:
- 24/7 Live Support
- Wallet Recovery
- 3-Bureau Credit Monitoring
- SSN Fraud Alerts
- Identity Restoration
- $1 Million Identy Theft Insurance
Is BillGuard Safe to Use?
As Prosper Daily, we couldn’t find any specific information on the app’s security features. It’s safe to assume that the BillGuard app would retain its original security, which is what we will be using in this BillGuard review. Based on previous data, the BillGuard app (Prosper Daily app) is certainly safe to use.
BillGuard utilizes bank-level AES 256-bit encryption and all data processing is performed on isolated servers that have no direct access to the Internet.
As a step further in ensuring that the BillGuard app is safe, the firm’s systems are monitored by their own security staff 24/7 and audited daily by Verisign and McAfee’s HackerSafe.
Please note, though, that there is absolutely no app, platform, software, website, database or vault that is 100% safe.
There are plenty of stories about credit card databases, government serves and websites, department store credit terminals, bank accounts, and even the U.S. Department of Defense database getting hacked.
To determine how the Prosper Daily app (Billguard app) will stack up against big financial planning software, we began by reviewing the services and features offered through Mint budget software.
What Is Mint?
Mint is a free personal finance software that allows users to create budgets, track bills, schedule bill payments, and keep an eye on their credit score.
When it comes to managing a budget, organization is key. This financial planning software allows you to see all of your expenses in one place, saving time and frustration from logging into multiple sites.
As a personal finance software, Mint has a few main capabilities and functions:
- Create manageable budgets
- Track spending habits
- Pay bills
It features a simple, user-friendly interface, making it an accessible budget software for anyone to try. This personal finance software even provides helpful tips and advice for users to maximize their savings on a daily basis.
Best of all, Mint personal finance software is available completely free of charge. This certainly sets Mint apart from other budget software, and makes it a competitive force amongst financial planning software and expense tracking tools.
Mint App Reviews
When it comes to comparing Billguard reviews and Mint reviews, both apps are in steep competition. In fact, they are nearly neck-in-neck on both platforms.
It’s clear that Mint is a major competitor for the BillGuard app, even after becoming the Prosper Daily app. The crucial distinction between the two apps comes down to pricing and core features.
While the BillGuard app (Prosper Daily app) offers both free and paid versions, the Mint app is completely free.
Still, the paid version of the BillGuard app (Prosper Daily app) provides essential features that Mint does not, like credit fraud protection, insurance, and identity restoration.
For additional comparison, see the section below titled “BillGuard vs. Mint”.
Is Mint Safe to Use?
Before using any personal finance software, it’s important to evaluate whether the budget software is safe to use. When it comes to Mint, the app is completely safe.
Mint comes from the makers of Quickbooks and TurboTax, two examples of expense tracking tools that deal with extremely sensitive financial data. With Mint, you get the same levels of protection.
The Mint app comes with security features like multi-factor authentication, security scanning with VeriSign, and a four-digit access code. On the off-chance that you lose your phone, all information can be wiped clean from the Mint app remotely.
BillGuard vs. Mint Comparison
What exactly is the difference between BillGuard vs. Mint?
BillGuard reviews show that the BillGuard app is an easy-to-use monitoring app that provides a tremendous amount of value by helping you to quickly detect and minimize fraudulent transactions on your credit or debit cards.
Its new “savings monitoring” engines search the web for coupons that will help lower your bills based on your spending patterns.
Ultimately, the BillGuard app (Prosper Daily app) is focused less on budgeting, and more so on protecting your financial activity and shielding against identity theft.
Mint, on the other hand, is an all-inclusive personal finance software that can be used for budgeting, investment portfolio monitoring, and personal financial management.
It is a free budget software that can aggregate all your transactions and balances across all your accounts (brokerage account, credit card, checking, savings, debit, etc.), across different financial institutions and brokerages.
With Mint, you can get a clear picture of your total financial life, from money management and budgeting to bill payments.
Using Mint, you can aggregate all your financial information into one place, and quickly see what you own (assets) and what you owe (debt).
- BillGuard vs. Mint: Mint is not a financial protection app. BillGuard (Prosper Daily) is.
- BillGuard vs. Mint: Mint is not designed to alert you whenever there are suspicious activities on your credit card. BillGuard (Prosper Daily) is.
- Mint vs. BillGuard: Mint is not designed to be an ID protection app. BillGuard (Prosper Daily) is.
- Mint vs. BillGuard: Mint is designed to be an all-inclusive personal finance app. BillGuard (Prosper Daily) is not.
- Mint vs. BillGuard: BillGuard (Prosper Daily) is a personal finance security company, while Mint is a personal finance company.
- In essence, BillGuard (Prosper Daily) is designed to protect and alert, while Mint is designed to manage.
For additional information on Mint, check out this article that provides a detailed overview of Mint: Why Mint is Rated a Top Finance App (Mint App Review)
Conclusion: BillGuard (Prosper Daily) or Mint?
Choosing between the Prosper Daily app (BillGuard app) or the Mint app will inevitably come down to personal financial goals.
If you want to have the highest levels of protection for your identity and credit card activity, you will want to consider Prosper Daily (BillGuard).
If you prefer to focus on creating a manageable budget and using an all-inclusive bill payment app, then Mint will be a much better fit.
While both personal finance software options have some overlap, the differences listed above are what truly sets them apart.
One is built for protection and security, while the other is built for management and budgeting.
No matter which personal finance software you choose, you can rest assured that your financial future is in good hands.
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