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It also notes that payment is made at time of shipment.
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This is a commonly held myth. FTC regulations certainly allow for payment before shipping on credit card orders.
There is also a difference between putting an authorization on a card, which holds the funds, and actually posting the charge which draws the funds.
If you're upset, your course of action is:
1. Contact iRex, cancel your order and ask for a refund. Keep copies of all your correspondence.
2. If that fails, contact your credit card company and dispute the charge. You will have to prove you attempted step 1 and show your work.