Blockbuster scraps late return fines, or does it?

Blockbuster, the biggest video/DVD rental company in the US, is scrapping fines on late returns from January 1 – but if you keep them too long, you buy them.

Blockbuster announce it will continue to set due return dates, with one week for games and two days or one week for movies, but will give customers a one week grace period at no additional charge, beginning on New Year’s Day.

“Doing away with late fees is the biggest and most important customer benefit we’ve ever offered in our company’s history,” said John Antioco, Blockbuster chairman and chief executive.

However, renters who keep the movies or games past the grace period will automatically be charged for purchasing the DVD or tape, minus the rental fee, Blockbuster said.