How to Avoid Credit Card Gray Charges

How to Avoid Credit Card Gray Charges

Posted: Updated:
PHILADELPHIA -

Despite increased regulation when it comes to consumers and credit cards, many of us are still dealing with those pesky "gray charges!"

Financial Expert Dan Roccato talked to Good Day about how to avoid hidden charges from your holiday shopping.

Last year, according to Roccato, 233 million hidden charges totaling 14 billion dollars hit consumers.

"Technically, they are legal," said Roccato. "Consumers sign up for, maybe not knowingly, but they sign up for different services and products and then those charges appear on their credit cards."

To prevent these charges, Roccato recommends reading the fine print. Yes, we all skip over them, but for the sake of our wallets, it's essential to read the small print. Remember, just because something starts out free doesn't mean it will continue to be free one month or six months from now. Find out by reading the fine lines.

Sometimes, the companies make it really hard to cancel a subscription or a charge you don't want. In those cases, advises Roccato, threaten to cancel your credit card. Play hardball and it usually can get the credit card companies to take you more seriously.

Watch the whole segment above to hear more advice.

Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | New Terms of Service What's new | Ad Choices