Imagine you have $107 in your checking account. You go shopping and you spend $100. You know that you only have $7.00 left in your account so you don't spend any money. The next day you decide to put money into your checking account and surprise your at NEGATIVE. The bank has charged you with a $45 dollar overdraft fee because your $34.99 X BOX live automatically renewed your membership as soon as it expired. Your now at NEGATIVE 72.99.
Many companies would make automatic renewal sound grand and wonderful. These companies would try to lure you into doing it by offering a special promotion. Don't fall for them.
To me.. You should stay as far away from them as possible because
1. as soon as you forget, those automatic renewals can slap you in the face hard and do a number to your checking account.
2. They don't always warn you before they charge your account.
3. Automatic renewal can be difficult to get rid of.
Here is a list of well known companies that has automatic membership or subscription renewals that I try my best to stay away from.
- Barnes and Nobles:Yes I purchase from Barnes and Nobles often and I have the membership but their is no reason to have your account set to automatically renewal your membership. Have control over when you want to renew your membership especially when they make it so easy to do it online or in store right before you buy a book.
- Magazine and Newspaper subscriptions: These are dangerous. Sometimes when you subscribe to them they would automatically check the automatically renewal box for you. So be careful. They have a lot of fine print that would say stuff like, " Will automatically renew prior to expiring, unless cancelled."
- X BOX live membership... Just google it. Many players are having a hard time trying to turn off x box live auto-renewal. Most of the time they have to call in for support and you know how that goes. Never ending elevator music.
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