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1. tedmx22
   Member

   Reputation:3

    

   Dear Redbox users,

   I'm writing to inform you of a disturbing occurrence today with the Redbox DVD rental system. My friend and I both have accounts with Redbox. We noticed a huge illegitimate fee from Redbox on his account and then on mine. The fee is an identical $26 and change. He got on the phone a quickly resolved the problem when they admitted there was an error on their part and would refund the money in 3 business days.

   Question is, how much interest are they earning on this 3 day hold of $26 multiplied by all their customers affected?

   Is this a legitimate error or an ultra creative deceptive way of generating income for the movie rental giant?

   Imagine the extreme headache involved for those people who had less the the fee and thereby incurring an additional overdraft charge from their bank.

   Also the pathetic individualized code - that they're giving away to show they care and to shut us up - does not compare to the interest they made in these 3 days.

   I would encourage all of you to check your account and verify whether or not you have the charge. If you do, don't just call them, which you should do, but also file a complaint with The Troubleshooter Tom Martino at troubleshooter.com and have your local news channel investigation reporter team pursue the situation as well.

   For those of you affected, you should have received an apologetic e-mail from RB and a quickie promo code as a deterrent after they've raked in the interest from all of us pooled together.

   Get your reporters involved and have them dig deeper.

   Did you get charged this fee?

   Posted 8 months ago #

2. Spaceknight
   Member

   Reputation:2

    

   Credit card companies make 1% to 4% of the value of a purchase. (I was surprised how quick I found that on google!) At the most conservative, Redbox paid 26 cents for this "loan", assuming there was no fee on the refund processing either. To have made back that 26 cents plus profit in a mere 3 days, they'd need something like 100% rate. I'd love to find an investment like that.
   Seems the only winner here is the credit card company.

   As to the overdraft issues: I think it's the cardholder's responsibility to not use a card that has that risk on a purchase that might be adding up to more than $1. What if something happens and you can't return the disc?

   Posted 8 months ago #

3. Pete
   Member

   Reputation:1

    

   Well if something happens you always have 20+ days to transfer money into that account, and I typically don't put more than I need on my debit card so the rest stays in savings with the higher interest rate. I'm sure there are others out there that do the same thing.

   Posted 8 months ago #

4. su_A_ve
   Member

   Reputation:6

    

   When did this charge posted? I'm sure if it was a fluke on their end, it happened to everyone that got affected, at the same time.

   I don't see any charges on neither of my cards as of today...

   Posted 8 months ago #

5. tedmx22
   Member

   Reputation:3

    

   The fee get credited yesterday. They sure held on to it several days though. Maybe it was a regional problem if the affect was not widespread nationwide.

   Yes, cardholders should be responsible to not teeter-totter on the edge of a fee, but we are talking about (a surprise fee) activity not initialized by the cardholders own doing, thus if you had plenty you'd have less of a hassle then those who had just a few bucks, dealing with the aftermath of an overdraft.

   Posted 8 months ago #

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