Check out Amember.com subscription software, integrates nicely into vBulletin and many many payment processors added into that.
I have my adult forum setup with this, they go thru the Amember sign up first where there is the free option, then the paid option at registration. When registration/payment is complete it'll automatically update them to the usergroup of your choice.
Really awesome and useful peice of software, since vBulletin is forum software, and shouldnt really be used for subscriptions, payment handling on a large scale
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