To cancel a premium membership subscription which was made through Paypal you will need to cancel through Chess.com at http://www.chess.com/home/account.html and also cancel through the Paypal website once you have logged into your Paypal account.
Here are the instructions step by step for cancelling your subscription through Paypal:
1. Log in to your PayPal account.
2. Click History under My Account at the top of the page.
3. Choose Subscriptions from the Show drop-down menu.
4. Check the From box and change the date back to the year the subscription was created.
5. Click Search, and then click Details.
6. Click Cancel Subscription.
7. Click Cancel Subscription again.