December 14, 2004

Blockbuster Getting Rid of Late Fees

In an effort to stem the tide to online video rentals, Blockbuster has decided to kill one of the largest complaints against them. Starting January 1st, the company will drop late fees and give customers a 1 week grace period. After one week, Blockbuster will charge the full price of the DVD, VHS tape, or videogame on the credit card. The customer has 30 days to return the product less a restocking fee. It is reported Blockbuster made $250 to $300 million a year from late fees alone.