May 7, 2012 2:22 PM by KATC
The Better Business Bureau is issuing a warning tonight about magazine subscriptions being offered over the telephone. The comppany, known as National Magazine Exchange, goes by several different names including ThinkDirect Marketing Group, Inc., Wellness4Life, StrikeItRich.com, Pat Haines, NPE, Wellness4LifePlus.com, Ed Wright, Strike It Rich Rewards, E. Wright, Strike It Rich Sweepstakes, SIR, and Strike It Riches located in Florida. On the BBB rating scale from A to F the company has a D+.
Factors that lowered National Magazine Exchange's rating include:
· 360 complaints filed against the business (155 of those regarding either sales or advertising issues)
· Business has failed to resolve underlying cause(s) of a pattern of complaints
The BBB of Acadiana warns that even though you're offered a package of magazines for a few dollars a week, the deal may include inflated prices and subscriptions stretching over several years.
The BBB of Acadiana offers the following tips:
· Listen carefully to the initial sales presentation. Don't be afraid to interrupt and ask questions. If you're not interested, say good-bye and hang up. If it sounds like a good deal and you're interested in buying, ask the caller for his or her name, and the name, address and telephone number of the company.
· Contact the BBB or visit acadiana.bbb.org for a reliability report on the company.
· Before buying anything, ask for the total yearly cost of each magazine and of the whole package. Compare those costs to regular magazine subscription rates. Also, ask to receive a written copy of the sales terms offered over the telephone.
· Don't give your credit card number or bank account number over the phone unless you're certain you want to buy and you know that the company is reliable. Otherwise, your account numbers could be used to make unauthorized purchases.
If and when you agree to buy, some sellers may want to tape your telephone conversation to prove you understand all the terms of the agreement. In some states, your verbal agreement to buy may become an immediate legal contract. If you wish to cancel your subscriptions, you must do so in writing. Under the Federal Trade Commission's Mail Order Rule, you may cancel your order within three days of the receipt of the agreement.