Victory State Bank Shares Buying Plan Tips

Victory State Bank Shares Buying Plan Tips


STATEN ISLAND, N.Y. –Buying Clubs can be a great option for keeping your spending low. However, there are certain things you should know before signing up. Victory State Bank would like to provide the following information from the Federal Trade Commission.

Buying plans — or clubs — are plans you sign up for and “shop” at until you cancel. You might join by signing up for a free or discounted offer, like 10 free CDs or 5 books for $1. Whether it’s truly a deal is in the details.

Before you join a buying club:

Research the company online.

Search the plan and company name, with words like “complaint” or “review.” Complaints can tip you off to questionable practices. But just because you don’t find complaints, it doesn’t mean the plan doesn’t have problems.

Don’t skip the fine print.

Find the terms for the offer. Know your obligations before you join. If you aren’t sure exactly what you’re agreeing to, don’t sign up. That includes offers online, on TV, in the newspaper, or on the radio. If the offer comes via telephone, ask the caller to repeat anything you don’t understand, and write down the important information, including the number for customer service. Call it to test it out. If no one answers or calls you back, don’t join.


Be honest with yourself.

Think about whether you’re likely to stay on top of forms and reject products you don’t want. If you join, follow the instructions on the forms.

Compare costs.

The introductory merchandise or the promise of some great deals might sound appealing, but what about the products you have to buy at the club's regular prices? How do the prices compare? How about after shipping and your monthly fees?

Keep copies of documents.

That includes documents that explain the terms of the plan, which may come with the introductory shipment, and the rejection forms you return to the seller. It's also a good idea to document the date you mailed the rejection forms.


Look for free trials and pre-checked boxes.

Sometimes, dishonest companies use free trials to enroll you in a buying club. When you sign up online, you may see a box already checked that gives the company the okay to continue the offer beyond the free trial — or to sign you up to buy more products unless you uncheck it.

Mark your calendar.

Write down important dates, so you don’t miss the chance to turn down or return merchandise you’re not interested in and don’t want to pay for.

Read your credit and debit card statements.

It's the only way you’ll know if you’re being charged incorrectly.


About Victory State Bank:

VSB Bancorp, Inc. (NASDAQ: VSBN) is the one-bank holding company for Victory State Bank. As Staten Island, N.Y.’s only community-based commercial bank, Victory State Bank operates five full-service locations on the Island: The main office in the community of Great Kills, and branches in the communities of West Brighton, St. George, Dongan Hills and Rosebank. For additional information, Victory State Bank may be reached at 718-979-1100 or visited online .


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