Godaddy insane discounts... is there a catch?

Within a week they do check credit on CC and hold/release your domain if they are not able to charge.

So it is cheap with lot of headache.

Yes, renewing your domains or services in more expensive than on many other registrars, for example domain privacy costs around 9$ when renewing why other registrars charge less than $5 or they even give it away for free. Initial buys at Godaddy is very cheap, especially when you order in bulk but renewing is the completely different story.

Many people use their existing registrar for registering their domains.
SO the trick here to get as many customers as possible. Even if they lose money on some of them, they will make money when you buy your next domains.

They are usual promotions. I do not find there is any catch with them.

Auto-renewing of domains is not very uncommon and exclusive to Godaddy. Many registrars do it, and often it is in the interest of the registrants themselves. Would you like to risk losing your domains, when you forgot to renew them.

Sometimes they add in a 7 day trial for a some website building thing, so make sure you check and make sure it's not in there or that it gets canceled.

its another godaddy scam , i bought a domain about 5 or 6 months back & by magic the website tonight package has turned itself on 3 months ago & godaddy have been taking $5 a month out my bank , not such a cheap domain after all .

The domains will be in auto renewal method. And thats why godaddy is only accepting credit cards, for $1 domains. And for second year its $14 or something.. They will get more than they lost.

I just stick with Namecheap, godaddy has been kind of iffy to me.

I've used hostgator, enom, and onlinenic. So far namecheap has been the best bet for me.