Normally, I would not focus on negative outcomes in my personal dealings with purchases I made online, but, honestly, I’m baffled at the pettiness seemingly legit companies like cofounderslab will practice to make a dishonest dollar.

I signed up for a service at, but shortly after the pandemic started, I canceled that subscription. The company accepted neither PayPal nor Stripe, my preferred online payment options; hence, I subscribed using my credit card. I normally would not do this, but I felt that I was dealing with a company that valued its online reputation. Furthermore, I didn’t see any negative reviews or warnings, so I went ahead and subscribed using my credit card.

Six months after my cancelation, I became aware that CoFoundersLab was still debiting my credit card. I first tried logging in to my account to see if maybe l didn’t properly cancel the account, but the account was closed. I then tried to find a contact number for CoFoundersLab to call for assistance, but no cigar. So, I resorted to emailing CoFoundersLab several times but was ignored.

What exasperated the situation was my bank’s poor customer service during the pandemic. I couldn’t get a live agent to deal with this issue. I would call in, but my only option was for a callback, and when I finally got the callback, the call would drop. This happened several times. I then tried going to my local bank. Even though the line extended to the parking lot, I felt that I could wait it out. After an hour and a half of standing in line, a bank employee informed me that I had to proceed to an additional long line. I wasn’t going to continue to wait for hours, so I went home.

I find it shameful that a company like CoFoundersLab would take advantage of a pandemic to defraud its former subscribers. Over one year after canceling my subscription, I finally got my bank to issue me a new card. Unfortunately, this isn’t a new scam. Many years ago, my wife worked as a receptionist for Weight Watchers and was flooded with similar requests from clients to stop debiting their credit cards for canceled subscriptions.

The takeaway is that you should resist the temptation to use your credit card for online purchases or subscriptions. Instead, gain more control over your funds by using a payment gateway such as PayPal or Stripe.

Final thoughts.

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