When you sign up for trial subscription, you can almost hear that clock ticking. You want to enjoy the trial, but if you don't remember the expiration date--you're going to be charged, for who knows how long!
CreditCard.com did a survey and found 35% of adults signed up for automatic payments without realizing it. Another 42% of consumers say its difficult to turn off recurring charges.
The Better Business Bureau also released a report last month that found that many consumers are being lured into so-called "subscription traps" that charge them for expensive products they didn't explicitly agree to.
Consumer Reports is focusing on a new solution from MasterCard. Starting April 12th, their policy requires merchants to get your permission before they start charging you. You will be alerted by email or text so you will know how much you're paying when you'll be charged, and explicit instructions on how to cancel the trial.
But the policy only applies to physical products--- not online subscription services like streaming video.