Subscribing to a service is easy. Cancelling one, however, can be a nightmare. Companies really count on their potential customers forgetting their trial period or at least struggling to find the cancellation option buried on their unending website. This, however, is precisely the reason subscription management tools have gained immense popularity-they allow you to track and easily cancel charges you do not want.
How can you identify unwanted subscriptions?
Before canceling subscriptions, you need to know what you are paying for. Many people forget about subscriptions that renew automatically. Some services make it tricky to identify recurring charges. A subscription management tool can pull all your active subscriptions in one place, so you can decide what to keep and what to cut.
What are the best apps to cancel subscriptions?
If you are looking for a way to stop paying for services you no longer use, these tools can help:
1. Rocket money (formerly Truebill)
Rocket Money is one of the most well-known subscription management apps. It connects to your bank accounts and credit cards, identifying all recurring charges. With the push of a button, you can request Rocket Money to cancel unwanted subscriptions on your behalf. It also provides budgeting tools to help you manage your finances more effectively.
2. DoNotPay
DoNotPay brands itself as “the world’s first robot lawyer,” helping people fight unfair charges. It not only cancels subscriptions but also helps you avoid unwanted auto-renewals by generating virtual credit cards for free trials. This way, you never have to worry about getting charged when a trial period ends.
3. Trim
Trim is an AI-powered tool that does more than just cancel subscriptions. It can negotiate bills on your behalf, such as internet or cable services, potentially saving you hundreds of dollars per year. If you are looking to cut down on expenses beyond subscriptions, Trim might be your best option.
4. Hiatus
Hiatus is a financial management tool that helps users track spending and reduce bills. It finds all your subscriptions and highlights the ones you rarely use. The app also offers bill negotiation services to help you save money on ongoing expenses.
5. Eno by capital one
Capital One users have access to Eno, a virtual assistant that tracks spending and alerts you when a free trial is about to end. This feature ensures that you do not get charged for subscriptions you meant to cancel. It also offers security features like virtual credit cards to prevent unauthorized charges.
6. Chase stored cards
If you use a Chase credit card, the Chase Stored Cards feature can show you which merchants have your card on file for recurring payments. Once you know where your money is going, you can take action to cancel unnecessary subscriptions.
7. Bobby
Bobby is a simple app that helps you track your subscriptions manually. It does not connect to your bank, which makes it a great option for those who prefer privacy. You can enter your subscriptions, set reminders, and get alerts before renewals.
8. Subscription stopper
This free app helps you track and manage all of your subscriptions in one place. While it does not cancel subscriptions for you, it provides step-by-step guidance on how to do it yourself.
How to cancel unwanted subscriptions manually
If you prefer to cancel subscriptions yourself, here is what you need to do:
- Log into the service’s website and find the cancellation option.
- Contact customer support if the cancellation option is unclear.
- Monitor your bank statements to ensure the charges stop after cancellation.
How to avoid unwanted subscriptions in the future
To prevent yourself from falling into the same trap again, follow these tips:
- Set calendar reminders: As soon as you sign up for a free trial, set a reminder before it ends so you can decide whether to keep or cancel it.
- Use virtual credit cards: Some services, like DoNotPay, allow you to generate virtual credit cards that prevent auto-renewal charges.
- Review bank statements regularly: Check your statements every month to ensure you are only paying for services you actually use.
- Use a subscription tracker: Even if you do not want to use a cancellation service, keeping a record of your active subscriptions can help you stay on top of your expenses.
Using the right tools and strategies can save you hundreds of dollars every year by eliminating subscriptions you no longer need.
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