VIDEO ON MSN MONEY
I recently learned a very valuable lesson I'd like to pass on to all: DO NOT authorize any company to automatically charge, say, a monthly fee to your credit card account. Case in point - I had a problem with AOL's Iolo System Mechanic, a computer performance monitoring service. Specifically, I wanted to cancel their service BUT could NOT get through to them. Repeated telephone calls and visits to their to websites all proved fruitless.
Frustrated beyond belief, I then contacted the credit card company. In my letter, I informed them of the problems I was having trying to cancel the service provided by AOL/Iolo/System Mechanic - and that as a result - I wish to CANCEL/REVOKE their automatic billing to my account.
Guess what – in so many words, the credit card company's response was “TOUGH S#IT!” – That ONLY the biller – not the billee – is authorized to cancel automatic billing.
Yes, months later I F-I-N-A-L-L-Y was able to reach AOL and they did cancel that service.
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Not using the magic plastic properly and responsibly can be ruinous to your credit rating and financial health.
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