Does anybody else think grabswag is a scam? I signed up with them and now am worried that I am getting scammed. Would love to hear from others so that I know whether or not I am in big trouble or not!

I believe that GrabSwag is just another short lived penny auction website that makes the same big promises and delivers little if anything in savings to anyone hapless enough to get caught in the “free registration” trap that is set by all the affiliate marketing networks that promote these so called entertainment shopping enterprises. To call them a scam would be not far from the truth, but a better description of that type of business is that of a Pyramid Scheme. These penny auctions flourish for a few short months until they become unsustainable because of the lack of new victims to support their inflated currency of the bid vouchers. Most all of these auction websites pay heavily to the marketing networks to promote and establish the business name online with over 50% of all revenue generated from the sale of membership packages which are stated to be free, always include the purchase of start up bids. The penny auction itself, is not the real scam, but simply a tool or “product” developed and packaged by the Affiliate Marketing Networks that are paid the vast share of any income generated by new members that sign up to the auction. So, instead of looking for penny auction site owners, the FTC should be going after the real culprits that are responsible, the same people who brought this penny auction to your attention in the first place with deceptive advertising and false statements of enormous savings and free bid incentives.

I know they are a scam took me for about 160.00 haven't seen a dime of it back. Only false promises.