They also presented it as a monthly service that you could cancel when you were done, but it was actually an annual service that you paid for on a monthly basis and trying to leave before the year was up would cost you. A lot.
There was also some weird business about having to send new cards (they sent you a card you had to use in person at the theater to pay for your ticket) without warning and until you got the new one you were unable to use the service you were paying for. In addition to that, sometimes the cards would just not work. This happened to me on at least 3 occasions.
Also take into consideration, there are some movies you'll want to see in 3d (maybe) or IMAX (more likely) and these are completely excluded. And if you're like me and you like to buy tickets ahead of time with fandango so you can skip lines and be sure the movie you're going to see isn't sold out, using this service means giving up that convenience.
Granted, this is all a much better deal now that it's $10 instead of $30.