September 30, 2010, 7:14 am

Future Shop Rant

by: The Financial Blogger    Category: Business,Credit Rating & Credit Bureau
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It has been a while since I wrote my last rant. But this morning, I have a good one that I wanted to share with you. I find it very unfortunate because I usually like going to Future Shop. In fact, going to Future Shop feels like I was 10 and going to Toy ‘R’ Us (now I have to hide my joy when I enter with my kids ;-0 ). So here’s my Future Shop Rant Story:

It all started yesterday morning while I was comfortably installed in front of my computer for my blogging day. My wife comes to see me and says that the washing machine just died. Sad story, it was part of my life for a good 10 years. However, what is really sad is that I have to buy another one. This wasn’t the greatest news of all.

So after dinner, I go to Future Shop to buy another one. They had a great promotion on the Samsung (paying taxes, delivery, taking my old scrap for free, $200 gift card and they are offering to pay in 36 payments without interest… I’m in heaven).

So I first have to hear a 5 minutes babbling about how great the extended warranty is a scam…I mean valuable (did you know that it takes 9 to 10 hours at $50/hour to change de rubber on your frontal washing machine?… RIGHT!).

So I tell her “no thx”, she tells me “are you sure?” and I stand up and say “no” and replies with her eyes wide open “REALLY??”, and I answer “REALLY” and she end-ups with “so you are going to walk away with your  brand new washing machine without extended warranty?” and I reply a dry “yup”. End of the lengthy and useless conversation. So I was already a bit annoyed but I was happy to have a new set to be delivered quickly. Then, we moved to the customer service center since I didn’t have a Future Shop credit card (for the 36 payments option).

I had to spend a good 25 minutes in front of a lovely lady hanging on a phone to know if my card was approved or not. I was asking for a *huge* amount of $2,000, just enough to cover my expense. Well guess what? I got declined at Future Shop!

I was quite upset because:

#1 I had to waste 5 minutes arguing that I didn’t want the extended warranty.

#2 I had to wait 25 minutes watching a stupid movie preview in loop on the tv waiting for my credit card approval.

#3 I got declined at Future Shop for a stupid and small credit card; this is very insulting.

#4 When I returned to pay my washing machine (with my own Mastercard Platinum!), the girl made a mistake on the bill and was charging me $80 more.

I asked her to credit my card right away but she had to see her boss first… another 10 minutes waiting to get the approval from the sales director…

I had been annoyed by Future Shop the last time I’ve ordered a iPod Touch for one of our contest (over at The Dividend Guy Blog) because they made me call twice to confirm my order (and each time you have to wait a good 10 minutes on the line). But now, I have not only wasted almost an hour of my time, but I got declined for a stupid commercial credit card. It was a very insulting feeling (especially since I make more than enough to pay those stupid appliances). The worst part is that I couldn’t even know why I got declined. I supposed it’s because I wasn’t sure about my Social Insurance Number but getting my credit bureau nonetheless should have been more than sufficient to get an approval.

Anyway, I hope I’ll get my washing machine and dryer in a good order… if not, I’ll start to stink in the upcoming days!

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Comments

The same happened to me years ago. Similar story, but with a fridge.

What you probably didn’t realize is that you will receive the Future Shop credit card in the mail soon.

They may have denied you for the 36 payments financing, but the form you filled in is a credit card application. They will still send you their card, with a credit limit that will probably be over what you paid for your washing machine.

When it happened to me, I found that trick to be dishonest and stopped purchasing anything from them for a couple of years. Looks like nothing has changed. Teaser financing offer to get you to get their credit card, then deny the financing and still send you the card. Blah!

I’ve had similar problems with FS although I didn’t fall for the credit card trick. (They just wanted you to apply for their CC so they can send you their promotions and probably sell your personal info) I now never shop at their stores except for on-line but I guess it’s hard to buy large appliances on-line.

by: The Financial Blogger | September 30th, 2010 (12:15 pm)

@Frog of Finance,
You can be sure that I’ll write about it if I receive their stupid card!

@Sean,
I can’t beleive they use such scam… seriously. good job on skipping the credit card trick!

You should probably be happy you didn’t get the Future Shop credit card. From the website:

1. Being from Quebec, you’d have to pay an annual fee on the card. From looking at the card holder agreement online, that fee would be $25 per year. Assuming you paid off the loan in 36 months, you would pay $75 in annual fees.

2. The website also lists an admin fee of $69.99 that is applied for the privilege of having the 0% interest offer. This admin fee is very common for department store credit cards. They get you with the “0% interest” promise. They never said anything about admin fees…

As for the deal you described, all I could find available online for the conditions you said ($200 gift card, financing, etc) was the washer/dryer pair. I hope you didn’t buy a new dryer as well.

Mike, I like you and your blog. But it seems to me that lately you finance everything. Do you not have $1000 in cash kicking around for just an emergency? Did you even call a guy to try to fix it? You’re so enticed by the 0% offer that you fail to look at the big picture.

I understand being frugal isn’t your thing. It isn’t mine either. If I was in your shoes I’d focus on paying down some of those credit cards and car loans.

I despise Future Shop. When I was 18 and shopping for my first cell phone (cash in hand!) the sales guy declined to help me and told me to “come back when I was a big girl”.

For the record, you can sign a cell phone contract with Bell at age 18, which is what I did 2 hours later at a different store. :p

Arg.

@ Financial Uproar,

Hey, I truly get what you are saying about financing everything. It is true that this year, it has been a race for getting more and more credit facility. This doesn’t sound right for anybody, especially from a financial planner, right ;-)

You just give me an idea for a future post but I’ll try to explain my point briefly.

I don’t spend more than what I make. However, I like using my money to create more money. For example, I have almost $5,000 in my employer stock which I can withdraw at anytime. But the company is doing well, I earn a really good dividend from the stock and I think I would be better off financing the washer and dryer (I bought the dryer too, I bought it 10 years ago when we were teenagers and didnt’ have kids. it just takes too long for nothing) at a 0% interest rate (I knew about the $25 but not the $69!) than cashing my stocks to pay it off.

On the other side, I already know that I will cash about 15K if not more (after taxes) with my year-end bonus (which is determined by nothing but my performances so I have control over it). This is how I intend to pay off my balance transfer credit card completely.

I’ll try to explain my point in another post thought, thx for asking!.

I cannot stand buying electronics at Futureshop/Best Buy. The only thing the ‘salesmen’ know how to sell is the extended warranty. Their product knowledge is limited to reading the description on the tag attached to the unit. It’s just an overall horrible experience.

by: The Financial Blogger | October 1st, 2010 (12:54 pm)

@Vadim,

I had previous good experiences at Future Shop while buying my first laptop and my camera. but lately, it has been pretty bad…

What a terrible experience!!

I actually shy away from the sales people.. they scare me. They look at you, POUNCE and try and sell you things.

I hear Future Shop has quotas/ commissions, but then at Best BUy, they don’t run on commissions, but they do get paid extra for extended warranty.

That’s too bad that saleswoman employed the wide-eye-surprise tactic on you to try and get you to cave and buy extended warranty.

I just got the letter from Future Shop; no explanation, just a plain declined application… I’m going to write a letter of complaint!

@Youngandthrifty,

Did you know that Best Buys and Future Shop belongs to the same company? They have 2 different tactics and exchange promotion…. smart business model ;-D

Being from the US I had no idea that Future shop was real lol. I thought you were protecting the identity of a store. Wow.

I HATE being declined, I always feel like I am being judged and I just want to yell at someone “Ass I didn’t even need your F’in card” but then I breath in and breath out and just pay cash lol

As long as you have your stuff organized I don’t see a problem with taking advantage of the 0%!

by: The Financial Blogger | October 7th, 2010 (5:59 pm)

@Evan,

nope, this is the real name of the store, i would protect a store that declines me. Actually, I got declined by Chase… a US corpo ;-)

I love my washing machine though…aahhh

[...] greed of publishers, but this does explain a few other reasons. The Financial Blogger provides a Future Shop Rant, which I actually get.  Online store is great, but where do they dig up their staff? I rarely can [...]

Future Shop is brutal. I remember going there almost 9 years ago to buy my first good, brand new computer. I was able to get an interest free computer loan from work for up to $5000 and was willing and able to pay that. I went in the store and was completely ignored by the staff. I was 24 years old at the time. They were helping others – middle aged people, people that looked like they had money. So i stood around the computer department for a while and eventually ended up calling Dell and ordering a PC over the phone. Some smuck in Future Shop missed out on a commission that day and Future Shop lost my business forever (mind you I have bought a few small things there since). Anyways, there is plenty of competition in the electronics marketplace, no need to deal with them.

We don’t have a future shop here where I live, I’m kind of glad now after reading these comments. I’ll admit I buy extended warranties on electronics all the time given my history with computers. I’ve also taken advantage of 0% introductory offers at places such as home depot or ace hardware (my playgrounds). I see no problem with using credit cards to finance big ticket items, especially if you are earning points that are redeemable for rewards. Paying cash is always a good idea but I’d rather my money work for me not the other way around.

I usually purchase small items at Future Shop and find their customer service level ok. Unfortunately I can’t say the same for the delivery company they chose to deliver my Samsung fridge I recently bought. The guys doing it, were for the most part, *A&”$/** !! They complained about the fact that my house layout was so difficult for them. They also really didn’t even attempt to place the fridge where it should be as it seemed to me that they were to rushed to try. I could go on for an hour writing about my full experience about these guys, but it seriously is not worth my time. I recommend to anyone to NOT purchase large items from future shop. You may get a great deal initially but believe, coming from someone who dealt with 3 different crews over that one stupid fridge that I no longer really enjoy looking at anymore, you will regret it.

Sorry everyone had to go through all this crap over a credit card I was approved and had no problems buying my cell phone tv and laptop at future I bought the extendened warranty on all three items this was just over a year ago since then Ive had problems with my laptop and my phone when I brought my computer in it took 2 days to repair and I paid nothing to have it fixed and when the touch screen stopped working on my iPhone I brought it back to future shop and was handed a new one literally within minutes. It’s sad to hear that so many of you had a bad experience at future shop because every time I go it’s always world class friendly helpful staff there to serve you with a smile!!

OK, first of all I am NOT a FS lover, but also NOT a hater.

There seems to be some wrong information concerning the FS CC here. The card is actually from Chase Financial and they set weather or not you get credit and not FS.

Also, the charge of $25.00 per year is a Quebec Provincial government thing and not FS.

Now on to sales people not paying attention to you. I have learned in the past its best to do your research, go in and find a salesman thats actually doing something like dusting, putting product away or just finishing up with a customer. I find these the best.

Well that my two cents anyway

[...] at The Financial Blogger goes Old School with a great rant The Future Shop Rant (an old staple of Financial Blogging rant about large electronics stores, I do it myself). It is [...]

Relax people, sounds like you’re sterotyping a brand based on very few experiences. Obviously that company is doing really well because they keep growing and helping thousands of people.
I’ve shopped there numerous times without problem so far (in 10 years). I guess with good customers comes good service. Try being a little nicer to people.