If you’ve ever signed up for a free trial and later found yourself shocked to see a subscription fee appear in your bank account, you’re not alone. Free trials are increasingly common, and in many cases, they’re expected. A quick online search reveals numerous opportunities for free trials, from streaming services like Amazon Prime Video and BritBox, to music platforms like Spotify, and reading subscriptions like Kindle Unlimited.
Many companies collaborate with others to offer promotional deals when you sign up. For example, Amazon Prime members often receive additional perks like two free audiobooks and a 30-day Audible trial, which continues at a charge of $14.95 per month unless canceled. Similarly, some T-Mobile plans come with a promotional offer for Apple TV+.
The Risks of Forgetting Free Trials
While these offers can be enticing, they can also lead to unintended expenses. Many people forget about the subscriptions they signed up for and are surprised by charges for services they don’t use. To avoid falling into this trap, it’s vital to understand how to effectively manage free trials and promotional subscriptions.
1. Read the Fine Print Carefully
One common mistake is failing to read the fine print, especially concerning auto-renewal terms. Melanie McGovern, director of public relations at the Better Business Bureau, warns consumers that they might unknowingly agree to a subscription if they don’t actively read all terms. The Federal Trade Commission emphasizes the importance of checking whether boxes are pre-checked or left blank, as this can often dictate whether you get charged after your free trial.
2. Be Skeptical of ‘Free’ Trials Requiring Payment Information
Any promotional deal that asks for credit card details should raise a red flag. McGovern states that if a free trial requires inputting your credit card information, it’s highly likely that you’ll be charged once the trial period ends. Financial expert Sarah Keish reinforces this, warning that “free” doesn’t always mean no cost in the long run.
3. Cancel During the Free Trial Period
It’s advisable to cancel your subscription during the free trial period rather than waiting until it expires. This reduces the chances of accidentally missing the cancellation window. Keish suggests that you can usually cancel at any time and still retain access for the remainder of the trial. For instance, cancelling on Day 1 of a 30-day trial will likely stop the auto-renewal but allow you continued access until Day 30.
4. Conduct Monthly Subscription Audits
A proactive approach involves spending a few minutes each month to review your financial accounts for any unwanted charges. Keish refers to this task as a “subscription audit.” She recommends performing this check monthly to catch any unexpected fees. If you’re overwhelmed, there are apps like Rocket Money or Trim that can help scan for subscriptions and assist in cancellations.
What to Do if You’re Charged for an Unwanted Subscription
If you find charges that you believe are incorrect, the Better Business Bureau advises reaching out to the company directly. If that doesn’t resolve the issue, contacting your credit card provider to dispute the charge is the next step.
By following these guidelines, you can navigate the world of free trials with confidence and avoid unnecessary expenses. Staying informed and vigilant is key to ensuring that you don’t get stuck in unwanted subscription traps.
