New Credit Card Law May Result in Redbox Price Change

[TheDickWard]

Analyst Eric Wold says we may be looking at $1.25 in the near future.

http://www.homemediamagazine.com/red...l-fee-25-25119

[Kobeskillz]

Might as well. Everything else is going up in price.

I'm going to quote Spartacus here but

They spread cheeks for deeper ramming!!!

[Vortex3D]

It's the only a dollar price magic that works so well. If it's $1.10, then the magic has disappeared.

[Ciotog]

How nice of "our" legislators to pass a law which works to the disadvantage of the people while favoring the credit card companies. Too bad we can't bribe them with as much money as the banks can.

[rr6966]

Everytime the govenment gets involved on the so called behalf of the consumers, the consumers get screwed.

[CrazyChemist]

To quote one of my guilty-pleasures: They F YOU at the drive-thru, okay? They F YOU at the drive-thru! They know you're gonna be miles away before you find out you got f*ed! They know you're not gonna turn around and go back, they don't care. So who gets f*ed? Ol' Leo Getz!

[Krawk]

I *thought* the intent of the law was to limit the fees charged by the CC?

Eric Wold notes that the average rental earns Redbox $2.20

What what what? They grow money? A $1.00 rental earns $2.20? Arthur Anderson at work here?

[CrazyChemist]

I *thought* the intent of the law was to limit the fees charged by the CC?

That's called politics. You tell the people what they want to hear and then do as you please until the next election

[nmcmahan52]

To quote one of my guilty-pleasures: They F YOU at the drive-thru, okay? They F YOU at the drive-thru! They know you're gonna be miles away before you find out you got f*ed! They know you're not gonna turn around and go back, they don't care. So who gets f*ed? Ol' Leo Getz!

why would this be a guilty pleasure? it's awesome

[lonerebel]

It's not the bank or credit card companies fault. The government stepped in to "protect" idiots that were having to pay ever increasing over draft fees, atm convenience fees and other fees that most responsible users never faced. It's only natural when the government shut that door of revenue that the banks would look for another one ie increased fees on checking accounts, credit/check card transactions and other areas that were ,until now, not generating revenue. And when the banks raise fees on companies such as Redbox then Redbox either has to eat the profit loss or pass the fees onto the customer. So the government punishes the masses to protect the few irresponsible bad apples.

[rr6966]

It's not the bank or credit card companies fault. The government stepped in to "protect" idiots that were having to pay ever increasing over draft fees, atm convenience fees and other fees that most responsible users never faced. It's only natural when the government shut that door of revenue that the banks would look for another one ie increased fees on checking accounts, credit/check card transactions and other areas that were ,until now, not generating revenue. And when the banks raise fees on companies such as Redbox then Redbox either has to eat the profit loss or pass the fees onto the customer. So the government punishes the masses to protect the few irresponsible bad apples.

+1 Bingo. Totally correct. That's why when the gov. says it is going to pass something to benefit the consumer, take a hard look at what they are proposing, what may seem totally rational tends to have all sorts of negative consequences.

[flickdirect]

Why is it that every time government makes a law to help out the little guy big companies always find a loophole and pass it on to us?

[lonerebel]

That's the point. The banks and credit card companies didn't find a loophole. They are merely doing what all businesses that are faced with regulations that squeeze their profit margins do. Find alternative revenue streams. We just happen to get the short end of the stick by the government sticking it's nose into the business practices of private enterprises.

[OneManShow]

Not too surprised by this. Reminds me of how some of the gas stations in my area have started passing on fees for credit card use.

This appeared to be illegal at first since gas station owners are not allowed to tack on extra fees for credit card use in my grand state of Texas. When I checked into it, I found out that they can still get around the current law because they are allowed to give consumers a "cash discount" and then pretend the credit card price is the base price. Fortunately, most of the gas stations is my area don't do this, but the Valero station I went to for over 5 years is now charging 10-15 cents more per gallon for credit cards. F-that. I go elsewhere.

[Actionable Mango]

They have been testing higher prices ($1.15 and $1.20) for over a month now:

http://www.homemediamagazine.com/red...ng-tests-24784

What what what? They grow money? A $1.00 rental earns $2.20? Arthur Anderson at work here?

If people keep them for 2.2 nights on average, then yes.