Corporate Policy: Costco ~ Changes to their Return Policy.

[flash]

Costco is no longer offering life time guarantees. The new return policy has incorporated into the HCW info page.

The reason for the change was given as abuse of the return policy. The following write-up is by Jeffrey Strain:

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It really doesn’t come as a surprise to me that Costco has ended their lifetime return policy because there were a lot of people abusing the system. I heard through a friend about one person who bought the largest high definition big screen TV Costco had simply to throw a Superbowl party with his friends this year. He returned it the next week. While that kind of abuse is still possible under the new Costco return policy, the updated rules help solve a costly abuse problem that was becoming rampant and costing the company quite a bit of money.

Electronics tend to fall in price rapidly when new generations appear and the life-cycle of each generation is fairly quick. What people started to do was purchase the latest generation electronics, then return it in six months to a year, get a full refund and then purchase the next generation gadget that was usually more powerful and cost less money - leaving Costco with an outdated product it could no longer sell.

The new return policy (pdf) for electronics is 90 days, but still remains much more liberal that many other stores’ return policies.

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[Stacy]

LOL, so you can buy the TV the day before the Superbowl, and return it the day after, no problem! LOL

[Pennyless]

I've always been shocked by their policy, it's still a lot less strict than many other places!

[Need2Save$]

We purchased a regular tv (nothing fancy like lcd, they don't even sell regular tv's anymore) oct 2002 for about $250-ish for my MIL. About May 2006, the audio started to go for a few seconds, then come back on, then off, etc. My DH tried to return it Feb 2007. They said the tv was 5 years old (they count the year bought). They gave him a hard time because of its age and we also didn't have the original remote, just a universal. But my DH just stood there waiting for something 'cause he wasn't going to leave without a credit - the customer service guy could see this. So he gave in and we got a cash card for $250-ish, I believe it was the original amount. But in this case, I don't think we 'abused' their policy. The tv did have a legitamate defect and we've been members at Costco since 1999 and we buy things knowing that they have this incredible return policy, just in case we need to use it.

But for Costco's sake, I'm also not surprised they changed their policy. Hopefully with the money they'll save associated with abusive/excessive returns, the savings will trickle down to customers.

m.e.

[tchrgrl]

Actually, their return policy is still the best ever. First, it is only for 4 things: TV's, computers, digital cameras and MP3 players. Computers are pro-rated after 90 days and TV's come with a 2 year Costco warranty. This means that after 90 days if there is something wrong with your TV, they will send a repair service free of charge to your house to fix the problem. They will do this for 2 years. If they can't fix it, I think they will replace it. It is a good deal compared to all others.

Tchrgrl

[eabates]

I checked on Costco.com and cell phones are part of the 90 return policy. I also recently found out that if you buy something on costco.com or at Costco and the price changes within 30 days of shipping (costco.com) or within 30 days of purchase (in store), you can go back with your receipt and get refunded the difference.

I recently bought the Whirlpool Duet Sport washer online for $769.99 and 2 days later the price went down to $699.99. So, I took a chance and emailed costco.com with my order number and purchase date and asked if they had a price change policy. A few days later they refunded me a little over $75. I asked today in costco if they honor the same policy and the lady said yes. Sometimes I buy toys for Christmas for my kids and about 1 week before Christmas, the prices are marked down so if I keep an eye on it, I may get some money back. Note: The only exception is if the item that is a "Display Only" is on sale, then they will not honor the price change policy because there was only 1 item left.

eabates

[flash]

Originally Posted by eabates I checked on Costco.com and cell phones are part of the 90 return policy. I also recently found out that if you buy something on costco.com or at Costco and the price changes within 30 days of shipping (costco.com) or within 30 days of purchase (in store), you can go back with your receipt and get refunded the difference. I recently bought the Whirlpool Duet Sport washer online for $769.99 and 2 days later the price went down to $699.99. So, I took a chance and emailed costco.com with my order number and purchase date and asked if they had a price change policy. A few days later they refunded me a little over $75. I asked today in costco if they honor the same policy and the lady said yes. Sometimes I buy toys for Christmas for my kids and about 1 week before Christmas, the prices are marked down so if I keep an eye on it, I may get some money back. Note: The only exception is if the item that is a "Display Only" is on sale, then they will not honor the price change policy because there was only 1 item left. eabates

That's great info! Thanks!

[$mart$hopper]

Originally Posted by Need2Save$ We purchased a regular tv (nothing fancy like lcd, they don't even sell regular tv's anymore) oct 2002 for about $250-ish for my MIL. About May 2006, the audio started to go for a few seconds, then come back on, then off, etc. My DH tried to return it Feb 2007. They said the tv was 5 years old (they count the year bought). They gave him a hard time because of its age and we also didn't have the original remote, just a universal. But my DH just stood there waiting for something 'cause he wasn't going to leave without a credit - the customer service guy could see this. So he gave in and we got a cash card for $250-ish, I believe it was the original amount. But in this case, I don't think we 'abused' their policy. The tv did have a legitamate defect and we've been members at Costco since 1999 and we buy things knowing that they have this incredible return policy, just in case we need to use it. But for Costco's sake, I'm also not surprised they changed their policy. Hopefully with the money they'll save associated with abusive/excessive returns, the savings will trickle down to customers. m.e.

WTH? How cheap can someone get to want their money back almost 5 years after they purchase a TV? That is ludicrous and absolutely cheap! Even if you charged the TV, I'm sure you would have paid off the $250 by then. I'm constantly amazed with how people abuse generous policies. It's because of people like this that other people end up having to pay the price. Shameful!

[Mullinax]

Originally Posted by $mart$hopper WTH? How cheap can someone get to want their money back almost 5 years after they purchase a TV? That is ludicrous and absolutely cheap! Even if you charged the TV, I'm sure you would have paid off the $250 by then. I'm constantly amazed with how people abuse generous policies. It's because of people like this that other people end up having to pay the price. Shameful!

After 5 years it does seem a little outlandish to expect the TV not to have some sort of problem - AND you didn't present the original remote when you returned the TV. Not good!

It's one thing to use a store's generous return policy when necessary, but this was abuse of it. I think we could probably all learn a lesson from your story, and maybe you even see your husband's actions in a different light after reading others' opinions.

We aren't here to judge you, but we will stand up for the store policies that we want to keep in place. Thank you for "listening."

[kb4525]

Um, yeah-returning a $250 after 5 yrs(and no remote)-this is one of the reasons Costco and other stores are tightening the belts on their return policies. Time to BUY a new tv, not have Costco foot the bill for one~