NEW YORK—A new use for virtual cards is surfacing, a new report is indicating.
Approximately 48% of U.S. adults have signed up for a subscription service’s free trial and forgotten to cancel it, according to a new CNET survey. With few exceptions, those monthly charges are going to members’ cards, including those not with the credit union.
“Consistently making this mistake can add up to hundreds or more per year. But there’s an easy fix that can help you avoid this headache: using a virtual credit card,” CNET said.
Many virtual cards are one-time use only, making them ideal for free subscriptions, CNET said.
“If you forget to cancel, the subscription shouldn’t be able to charge you using your virtual card number,” CNET reported. “And even if your virtual card number can be used multiple times, you can typically lock your card to prevent new charges from going through or replace it with a new virtual card number.”
How to Sign Up For the Best Daily News Email in Credit Unions. (It’s Free!)
Every workday CUToday.info delivers the most comprehensive, freshest daily newsletter with the day’s news headlines, including links to the related articles. The Fresh Today newsletter is the most timely, relevant and widely-read source of news and information in the CU community. And it’s free!
If you haven’t yet signed up for the new email solution on which CUToday.info has partnered with ResponseGenius, you can do so here. Signing up requires less than one minute of your time—and it’s free!
Please note that after signing up you may need to go to your Spam/Junk folder and mark the morning headlines email as safe. CUToday.info does not provide its list of readers and emails to outside parties,
And did we mention it’s free?