Beware Of Online Subscriptions
You should instantly be put on high alert when purchasing an online subscription using your credit or debit card number. We’ve grown accustomed to glossing over small print, and just clicking to agree to the terms and conditions. If you don’t know exactly what you’re agreeing to, you could find yourself with unexpected charges as well as over the limit or overdraft fees. Online subscribers need to beware of the terms of online subscriptions. Use these tips to identify tricks and avoid surprises in your bank statement or credit card bill later on.
Beware of Length
Consumers might think they’re signing up for a monthly subscription that can be canceled anytime, but that may not be the case. Subscribers should ensure a minimum length of service is not required before agreeing to the terms of the agreement.
Beware of Price
A potential subscriber may see a monthly price quoted, but they should pay close attention to the asterisk next to it. The small print may explain the price quoted in big letters is only an introductory price. The price afterward might be much higher once the introductory period has ended. Before agreeing to the terms, know the length of any introductory period, and the price of the subscription after it ends.
Beware of Bundles
Some internet services will bundle additional trial offers with the requested subscription. The customer will be charged for BOTH services once the trial period is over. To make it worse, many times the box agreeing to this is checked by default. Potential customers should examine the offer carefully to ensure they’re not agreeing to a bundle of unwanted services.
Beware of Cancellation Policy
Some online subscriptions allow cancellation up to the very instant it will be renewed, but others may require 10, 15 or even 30 days notice. Subscribers should ensure they know the cancellation policy to prevent paying for an unwanted month.
Beware Of Auto-Renew
Many subscriptions will remember your method of payment, and charge you without notification as your renewal date approaches.
How To Avoid Unwanted Charges
Thankfully there are a few additional tricks subscribers can do to help avoid unwanted charges.
- Read The Fine Print: As mentioned, read all the terms and conditions so you know exactly what you’re getting into.
- Turn off Auto-Renew: Many subscriptions will have a check box for auto-renewal. If a subscription has one, uncheck it. The service will likely email you a reminder as your subscription comes to an end.
- Remove Payment Info: If you remove your method of payment, the service has no way to charge you for something you don’t want.
- Cancel Trial Subscriptions: If you signed up for a trial membership, cancel it immediately. You will still get the benefits of the trial membership without the worry it will be renewed because you forgot to cancel it later.
Signing up for an online subscription can take an instant. Consumers should beware of online subscriptions, and take some extra time to determine exactly what is included. By utilizing the mentioned tips, they could prevent months of regret.
What do you think, Clever Friends, have you ever signed up for more than you intended because you didn’t read all the information?
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- What to Do if You Forgot to Cancel a Trial Subscription
Brock is a software engineer by day and personal finance blogger at night. He is a fitness junkie and enjoys grilling and smoking meat. Married with two children, Brock strives to improve his skills as a husband and father, and is always on the lookout to stretch his family’s budget as far as he can.