There’s a reason so many businesses are shifting to a subscription model: it’s sticky.
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Once you’re in, you’re likely to stay — especially when the cost is broken into small, forgettable monthly amounts.
Many of us are too busy (or too lazy) to deal with customer service and figure out how to cancel. According to a 2022 survey by C+R Research, 42% of Americans have let a subscription renew without realizing it, and the average person spends $133 more than they thought each month.
That’s hundreds of dollars a year slipping through the cracks.
Many businesses count on the fact that you won’t notice (or won’t care) about a $6.99 charge buried in your credit card statement.
Here are some clever tricks they pull to make subscriptions sticky:
Canceling subs became such a pain point for consumers that the FTC rolled out a “click to cancel” rule. But even with that in place, it’s still super easy to forget about charges that sneak onto your statements.
One easy way to stay on top of recurring charges? Put all your subscriptions on the same credit card. That way, you only have one statement to check when you’re hunting down forgotten fees.
And for the subscriptions you want to keep, you could earn some cash back or points for those charges. Some rewards credit cards give you bonus points for recurring bills, like streaming services or digital subscriptions.
A few cards also come with built-in spending insights and alerts that can help flag weird or new charges.
Want to earn rewards for the bills you’re already paying? Check out our top credit card picks for digital subscriptions and everyday spending.
Here are a few tactics to help you outsmart sneaky subscriptions and be more aware of your spending.
A quick scroll through your credit card or bank app can spot forgotten charges. Sort by “recurring” or look for similar amounts. Some banks come with built-in budgeting apps that can help you spot charges.
If you sign up for a free trial, immediately create a calendar reminder a few days before the renewal date.
Weird tip, but it works. Some platforms let you cancel immediately after activating the trial. They may also have a “don’t auto-renew” option so you won’t be automatically charged when the promo period ends.
Ten bucks here, 15 bucks there…it all adds up. Even if you only have five unused subscriptions at $10 per month, that’s $600 a year wasted.
Subscriptions aren’t evil. But they can be sneaky. With a little attention and some digital backup, you can catch those leaks before they waste your money.
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