$150 refunded!!
I opened an account on this site and thought it might yield a deal or two. While I did key in my cc info, etc., at the same time I noted there was no initial amount listed (at that time) that would be charged to our account. I also never received the extra 100 bonus points for signing up.
However, One thing I did do, given that there was (at that time) no indication of any charges that might be made against my account, I first printed each and every page of the web site in case I had to document a chargeback of my cc. When the charge actually cleared my account, I was bent out of shape. I was just glad I didn't use my personal debit card as it didn't have that much in it.
Anyway, I played around and bid on a few things with the initial 300 pts I thought they gave me, but didn't win anything. Later that day was when I found the $150 marker on my account, which I thought was done like hotels and gas stations do to ensure that when you check out, you have the $$ available. A few days later, I found that it cleared and then I went about making the obligatory calls to help me charge the amount back.
I looked in the "Contact Us" and only found an email address, so I wrote up my missive explaining all the above and explaining to them that not having any $150 pre-charge listed, along with any number of other things, while indicating that I would charge back the $150 unless I was contacted. A couple of days later, I got a call from a guy who, after making offers of some kind of refund while maintaining some balance, I simply told him that I preferred to close the account and take the refund, while keeping my mind open as to whether they would change their business model to allow smaller points buy-ins or more free points so newbies could learn how to bid without losing all their money before having any success.
I have received my refund in full.