Before Purchasing a Subscription Service…

Senior couple, bills and reading documents in home for budget, planning financial assets and investment. Face of man, woman and thinking of paperwork, taxes or retirement savings for insurance policyThere are a few things you need to know before purchasing a subscription service. Tips to ensure you’re making a wise investment:

1. Do your research. Before signing up, research the company by checking their social media accounts, consumer reviews and business ratings on BBB.org. Look for complaints or scams.
2. Investigate free trials. Find out how long the trial period lasts, read the terms of the agreement, and learn how and when to cancel.
3. Understand auto-renewals. Companies must send you a renewal notice ahead of time, and you should always check your bank and credit card statements to ensure the cost is what you expect.
4. Know how to stop a subscription. There are three ways to stop automatic payments from your bank account: contact the company to revoke payment authorization, contact your bank or credit union, or give your bank a stop payment order.
5. Cancel unwanted subscriptions. By canceling early, you’ll avoid paying for an extra subscription term.
6. Watch out for scams. Scammers may offer you free trials or deals hoping you’ll sign up with your credit card number. But if it seems too good to be true, it probably is.

 

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