I got the same thing, but it was for Quick Quilts instead. They used the same pricing system though. The subscription was for around $70, but I was going to be allowed to pay it off in two installments.
I haven't and don't ever intend to subscribe to that magazine.
I just tore up the bill and threw it away, but now wish I had kept it and mailed back the voided form with a little piece of my mind!