Almost all online services have moved to subscription models, where you pay a monthly fee to use the service. The problem with this model is that you need to monitor when you no longer need the service and cancel the subscription. This often leads to unwanted monthly or annual subscription renewals, which leads to unnecessary costs. Knowing the ideal time to cancel your subscription helps you avoid losing money without actually benefiting from the service. But when should you cancel your subscription? Check out the signs that you may need to cancel your streaming service.
1. Once you decide you no longer need to subscribe
The best time to cancel a subscription is when you no longer need it to avoid unnecessary charges. Even if you pay for an annual subscription for a service and feel like you no longer need it in the middle of using it, cancel the subscription immediately. If you don’t, you may forget about it and not realize that the subscription is still active until you are charged after the next renewal date.
You shouldn’t be afraid of losing out on benefits because all subscriptions will provide you access until the current subscription period ends and the next billing cycle begins. So, to be on the safe side, always cancel your subscriptions immediately if you feel you don’t need them. This saves you from losing money by paying for a service you no longer need when the renewal date arrives.
Beware that some services may use predatory pricing practices by charging early cancellation fees for long-term contracts. A good example of this is Adobe, which is one of the reasons we don’t recommend getting a Creative Cloud subscription from Adobe. So be sure to keep an eye on it.
2. Near the end of the billing cycle
Near the end of your current billing cycle is another good time to cancel your subscription. If you track and manage your subscriptions, you know when a particular subscription is due to renew. Be careful with this approach, though. If you cancel too late—for example, within 24 hours before the renewal date—you may still be charged. That’s because most subscription services start processing payments hours or even days before the due date.
This is usually done to allow enough time for potential issues such as delays in payment processing, payment method failure due to insufficient funds, or when the payment provider is experiencing processing issues.
For example, if you cancel your Netflix subscription on the 15th and your renewal date is on the 16th, you may still be charged. So, to avoid losing money, make sure to cancel your subscription at least four or five days before your billing date.
3. Cancel free trials immediately after signing up.
Most online services offer free trials, allowing you to test out the service before fully committing to a paid plan. However, you will be automatically charged if you don’t cancel before the deadline. You should be careful with free trials because some may only last for a short period, such as a few days or a few weeks (especially for app-based subscriptions).
Even if you plan to use a service after testing it out, the best approach to free trials is to cancel immediately after signing up. By doing this, you won't forget about it, and therefore won't be automatically charged for the service if you change your mind about it before the trial period ends.
You can pay at any time if you want to fully commit to the service. Subscriptions rely on you forgetting to cancel them to automatically convert the trial period to a paid subscription. Cancelling the subscription immediately after signing up ensures that you don't fall into the trap.
The best time to cancel any subscription is when you decide you no longer need it. The second best time is when you are nearing the end of your current billing cycle. We recommend canceling free trials immediately after signing up so that you are not automatically charged once your trial period ends. These methods will ensure that you do not accidentally pay for a service that you no longer need or plan to use. You can now read Why I Cancelled X Premium: Reasons to Give Up on This Service.
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