Author Topic: Blockbuster Late Fees? (Read 148 times)

Thirteen · « **on:** January 06, 2005, 01:59:33 PM »

what's up with these commercials? has anyone gone to check this out? i would but i think i'm on their top 10 list for late returns

Sikotic™ · « **Reply #1 on:** January 06, 2005, 02:03:17 PM »

It seems pretty shady to me. I think they're trying to get all of the people who owe $2,000.00 in late fees to come back so that cops can surround the building and arrest them. I know I owe them about $80 so I'm not going near a Blockbuster.

Thirteen · « **Reply #2 on:** January 06, 2005, 02:06:29 PM »

here's what it says at blockbuster.com

What are the full movie and game rental terms now that BLOCKBUSTER® has stopped charging late fees?
A: Movie and game rentals are due back at the date and time stated on the transaction receipt. There is no additional charge if a member keeps a rental item beyond the pre-paid rental period. However, if a member chooses to keep a rental item more than a week after the end of the rental period, Blockbuster will automatically convert the rental to a sale on the eight (8th) day after the end of the rental period. Blockbuster will charge the membership account the selling price for the item in effect at the time of the rental. The selling price will be discounted by the amount of the initial rental fee paid by the member at the time of rental. If the member returns the item within 30 days of the sale date, Blockbuster will credit back to the membership account the amount previously charged to the member’s account or the member’s credit card, as applicable, for the selling price of the item, but the member will be charged a minimal restocking fee. All rental items must be returned to the proper BLOCKBUSTER® store. These rental terms are subject to change without notice at any time. Participating stores only. Additional membership rules apply for rentals. See participating BLOCKBUSTER store for details. BLOCKBUSTER name, design and related marks are trademarks of Blockbuster Inc. ©2005 Blockbuster Inc. All rights reserved
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When will BLOCKBUSTER® stop charging late fees?
A: BLOCKBUSTER's new policy eliminating late fees is effective Jan. 1, 2005.
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Can I keep movie and game rentals as long as I want now?
A: Movie and game rentals are still due back by the due date shown on your receipt.
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What do you mean by "the end of late fees?"
A: For any reason, if you are unable to return the movies or games by their due date, you won't be charged additional fees for keeping them an extra day or two.
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What if I forget to bring back a movie or game? Won't you charge me something at some point?
A: If you still have a movie or game seven (7) days after the due date shown on your receipt, we will convert your rental to a sale. The movie or game will be sold to you at the selling price in effect at the time of rental, which is either the retail price, or, when available, at the previously-rented selling price, less the initial rental fee you paid.
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How do I pay for a rental that has been converted to a sale?
A: As with balances on your membership account today, if you've chosen the convenience of securing your account with a credit card, we'll charge this amount to your credit card. If you don't have a credit card on file or if we cannot process the charge for some reason, the balance due will be placed on your BLOCKBUSTER membership account.
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What if I return the movie or game seven days or more past the due date?
A: We will gladly let you return the movie or game within 30 days of the sale. If the selling price has been charged to your credit card, we will credit the amount charged to your credit card when you instruct us to do so in person (otherwise we will place this amount on your BLOCKBUSTER membership account). If this amount has been charged to your membership account, we will remove the balance. However, in both instances you will be charged a restocking fee plus applicable taxes.
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Why do you charge a restocking fee in this situation?
A: BLOCKBUSTER incurs processing, administrative and other costs when we have to convert rental product to a sale, as well as when you return the product after that sale. The restocking fee helps to cover that cost.
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I have a BLOCKBUSTER Movie PassTM - why should I keep it now that there are no more late fees for any rental?
A: The BLOCKBUSTER Movie Pass still lets you rent unlimited movies with the added benefit of no due dates. That means you can rent as many movies as you want (up to the maximum allowed by your plan) and return them whenever you want, for one low monthly fee.
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What about my BLOCKBUSTER Game PassTM? Why is that still a value to me?
A: The BLOCKBUSTER Game Pass still lets you rent as many games as you want (up to the maximum allowed by your plan) and keep them for as long as you want. That means you can try a lot of games before you buy them or choose to master a game over several weeks, all for one low monthly fee.
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Aren't you worried that you won't have enough movies and games if everyone keeps their rentals longer?
A: We will be carefully monitoring the movie and game selection to make sure we maintain our current levels of product availability for you. However, it's in everyone's best interest to return their rentals by the due date, even with the end of late fees, to ensure that we have the movies and games you want to rent, available when you want to rent them.
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Rampant · « **Reply #3 on:** January 06, 2005, 02:45:50 PM »

this is amazing because i always return things 2-3 days late.

RuffRyder189 · « **Reply #4 on:** January 06, 2005, 08:15:14 PM »

they are getting smart its just a scam for more $$

notorious^q8I · « **Reply #5 on:** January 07, 2005, 06:34:55 PM »

Quote from: RuffRyder189 on January 06, 2005, 08:15:14 PM

they are getting smart its just a scam for more $$

eS El Duque · « **Reply #6 on:** January 07, 2005, 06:44:45 PM »

hahha..smart move by block buster.

i dont go there..so i dont give a shit...WILLOWS VIDEO BIATCH!

Matrix Heart · « **Reply #7 on:** January 07, 2005, 06:47:08 PM »

Blockbuster drops late fees
No. 1 video rental chain to give 1-week grace period; Financier Icahn steps into buyout fray.

NEW YORK (CNN/Money) - Blockbuster Inc. announced Tuesday it is abolishing late fees on all its video tapes, DVDs and video games as of Jan. 1.

The world's largest video rental company will still have due dates for their rental products -- one week for games and two days or one week for movies, depending on whether it's a new release.

But customers will be given a one-week grace period after that to return the product. After that grace period ends, the chain will automatically sell them the product, less the rental fee. If the customers don't want to purchase the movie or game, they can return the product within 30 days for a credit, less a restocking fee.

Blockbuster (Research) has been competing with the growth of by-mail rental services, such as Netflix (Research), which allow customers to keep movies as long as they want in return for a monthly fee. In August, Blockbuster started offering that kind of monthly rental service itself. It said Tuesday that service will continue in addition to this new individual rental policy.

"For the past year, the company has been testing a variety of rental options in markets across the U.S.," it said in its statement. "In no-late-fees test markets, the increased rental transactions and retail sales offset the lower level of revenues resulting from eliminating late fees.

It estimated that late fees would have contributed about $250 million to $300 million to revenue next year.

The company said it also plans to lower its ongoing marketing, operating and promotional costs after implementing the change.

The company said as a result of the move it expects operating income in 2005 to be flat compared with 2004 results after an estimated $50 million it will spend to market and implement the change to a no late fee system.