Commercially, "Rumors" achieved moderate success worldwide, reaching Top 30 positions in Australia, Austria, Germany and Switzerland.

6 on the Billboard Bubbling Under Hot 100 Singles chart and was certified Gold by the Recording Industry Association of America (RIAA).

The accompanying music video for "Rumors" was directed by Jake Nava and depicts Lohan attending a nightclub, playing around with the paparazzi.

[5] Peter Wade Keusch assisted the production, and was responsible along with Chris Avedon for Lohan's vocal recording, which occurred at the Poolhouse West and The Village in Los Angeles.

"[4] Spence D. of IGN noted that Lohan's vocals are "driven by snarls, breathy croons, and emotionally restrained angst",[7] while John Murphy of musicOMH considered it "a feisty dance anthem with intelligent lyrics attacking the paparazzi and press in general".

[8] "Rumors" received generally mixed reviews from music critics, however, it has become one of Lohan's most recognized songs and has now been labeled as "cult pop treasure"^[[9]].

"[10] Erik Missio of ChartAttack thought that the song "presented potential for a semi-palatable debut effort", but further added that it is a "crap of a spectularly unspectacular level."

Entertainment Weekly contributor Nicholas Fonseca, however, considered "Rumors" a guilty pleasure,[11] while Stephen Thomas Erlewine of Allmusic selected the song a Track Pick in the review of Speak.

At the end of the music video, Lohan and her friends enter the top of a high-rise and perform a dance routine while helicopters are circling around them.

Despite having only achieved moderate commercial success, "Rumors" has since become Lohan's most recognized song of her career and has received significant attention in the years following its release.

[28] "Rumors" was also used during the opening of the 2020 Balmain Spring Fashion Show, in which Paper magazine noted that the song was finally getting recognition.

[29][30] In January 2021, the song received significant social media attention after being used on the season 13 premiere of RuPaul's Drag Race in a lip sync for your life between contestants Gottmik and Utica Queen, resulting in Lohan's name becoming a trending topic on Twitter.