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.
Interesting. I wonder if Blockbuster will also stock more vides/DVD's in their stores now that people will most probably wait until the end of the 2 weeks to return the videos. This could either help or hurt Blockbuster.
I'm on a plan with Hollywood Video where I pay $9.99 a month for unlimited movies. This is the trial period, and soon it'll be $14.99, but I can cancel at any time. The first month I must have gotten 40 movies :) This is the second month, and I have yet to get a single movie. I should probably just cancel.
Posted by: aishel at December 14, 2004 09:44 PM