Wednesday, April 23, 2014

How Most People Overpay For Online Downloads And Subscriptions

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Most content online have fixed prices such as eight dollars a month Netflix or sixty dollars a year for Xbox Live for subscriptions or single downloads much as iTunes $1.29 per song.  Unknown to most people who key in their credit card numbers to access online content, they will end up paying much more than they think.

Many carry a balences on the same credit cards that they buy online downloads and subscriptions.  When someone uses a credit card carrying an outstanding balence the interest starts adding up the very second that Netflix charges the credit card account to collect their monthly fee or when the buy button is clicked on to start a download from iTunes.  

Relief from paying credit card interest on your online subscriptions and downloads may be as close as your debit card.  CIBC and TD have added Visa debit onto their Interac debit cards.  CIBC customers who have the advantage debit  card and TD customers who have a newer access card with the picture of the green chair can pay for online content with those cards.  Add your CIBC or TD debit card to your online accounts as if it's a Visa using the expiry date on the front of the card and the security code from the back of the card.  RBC customers can get a separate card for online purchases called the Virtual Visa Debit that provides the ability to pay through Visa but take the money from a chequing account.  BMO and ScotiaBank customers don't currently have this option, but there are reloadable prepaid Visa cards available through convenience stores and other outlets.  One of these reloadable prepaid are purchased, and can be reloaded using vouchers purchased at the same outlets that the reloadable Visa and MasterCards are sold, one thing that sets the reloadable cards apart is the ability to pay through one's own bank.  Through the traditional teller, ATM or through online banking.  The reloadable prepaid account  is set up as a payee on your bank account just like any other credit card account.  Using one of the many alternatives to one's traditional credit accounts will save a lot more money than they realize.

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