Is that magazine offer really a bargain?
CPAs offer tips to find the best deal and avoid a scam
10.26.2009 – (COLUMBUS)—If something sounds too good to be true, it usually is. Magazine subscriptions often appear to be a great deal until the bill for the “free” subscription arrives in the mail.
Since fall is a popular time for subscription sales, The Ohio Society of CPAs (OSCPA) offers tips for evaluating if an offer is as good as it sounds.
Buy from a reputable source. According to the Federal Trade Commission, it may be difficult to completely avoid a scam. Schools and other not-for-profit groups that sell subscriptions as fundraisers typically use reputable companies that negotiate directly with publishers. A good source for online sales is Magazines.com.
Beware of telemarketers and door-to-door salespeople. Magazine offers from telemarketers can be legitimate, but it might not always be the best deal for your wallet. Telemarketers often call subscribers to renew months before the last issue arrives.
Salespeople may not be affiliated with the magazine publisher and can increase the price of a subscription. Ask for identification to verify the seller is part of the group they are representing. If you become suspicious of something the salesperson says or does, report the incident to the local Better Business Bureau or the Ohio Attorney General.
Ask for the full price. Ask the salesperson to give you the exact price for the full offer, including any fees or shipping costs. If you don’t receive a straight answer, or the salesperson tries to change the subject, it could be a scam.
Many times, a hefty processing fee is tagged onto the offer which means the magazine is not really free. But it still may be a good bargain, especially if it’s a title you can’t easily buy in a local store. Calculate the per-price issue and compare it to retail prices before making a decision.
Is the price guaranteed and for how long? Find out the exact dates of the subscription contract. How many months will you receive the magazine for the promotional rate, will you be billed one time or in installments, and what are the cancellation policies? Some magazines subscriptions automatically renew at a higher rate at the end of the promotional period.
Read the fine print. Ask for a written copy of the contract and read the details so you understand the full terms of the agreement before you sign on the dotted line.
For more smart money management tips, visit OSCPA's Financial Fitness Ohio Web Site.
The Ohio Society of CPAs, established in 1908, represents more than 23,000 CPAs in business, education, government and public accounting. OSCPA members not only meet statutory and regulatory requirements as CPAs, but also embrace the highest standards of professional and ethical performance. This is achieved through ongoing professional education, comprehensive quality review and compliance with a strict Code of Professional Conduct.
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