Tuesday, January 4, 2011

My personal vendetta against Blockbuster video...

These are the times I really love my blog the most, letting out some steam once in awhile. As a shareholder of the company I may have discovered why Blockbuster is doing so poorly, finding a huge flaw in their system. Blockbuster video who refuses to rent me a video game (yes I like to play a video game once in awhile) over the holidays because my credit card information was outdated and did not want to accept my new Visa debit card information although it's under my name and address. Out of principle I didn't want to give out any other credit card information so my wife and I went somewhere else. Guess who did wanted my money... precisely.. redbox, with the same Visa debit card! So I rented Fable III until the day after new years day, great game by the way, but let's get back to the point.

Why would redbox have no problem accepting my payment and Blockbuster declined the same exact form of payment?

Now by Visa debit card I don't mean a Visa prepaid card that you can buy in the supermarkets etc. I understand that, since there is no name or address attached to it. In other words you can pretty much leave $5 on the card, rent a game and never bring it back, no one would know where to look.
But in my case, my debit card had guaranteed money on it, was registered under my name and billing address, it's...well a debit card, not borrowed money from the bank, like a credit card that Blockbuster wanted.
As a shareholder of Blockbuster (BLOAQ: $0.138 -4.17%) I'm not only disappointed but also deeply concerned. For years I've been faithfully renting movies and games, paying a much more heftier price then I should have, after all redbox was right next door, but I kept spending my money loyally to Blockbuster video, since I am stock holder and to me it was the right thing to do.

Well no more.

According to Blockbuster my money is not good enough for them, which concerns me even more, how about all those other transactions that failed because of their same retarded policy?!
Wake up Blockbuster! Instead of closing hundreds of stores nationwide, how about accepting people's money. US dollars! That might help. Redbox got the sale, and guess what, I just discovered Netflix (NFLX: $181.37 +2.96%) has a good deal too,.. I signed up with the same Visa debit card that Blockbuster didn't accept.

I'll still hold on to my stocks though, it's only a minuscule percentage of my portfolio. But I'm tempted to sell it any day and be done with it.



I hope someone from Blockbuster corporate is reading this, they might want to stop missing out on rental money from people like me.
And by the way, just a note, you might want to fix your Blockbuster Express kiosk in my area, all but a few are out of order.

Disclaimer:

All opinions expressed, trade recommendations/advice on this website are solely of John van der Munnik and are not affiliated with any investment firm or any other organization. You should not make an investment only based using this website VDM Trading for your trading needs without seeking help from your own financial advisor.