Why Best Buy is Enroute to Failure

For my birthday this past summer, we went to best buy to buy a travel computer.  Our Bank had moved and we started a new account with a local credit union.  We are also trying to use cash as much as possible per the Dave Ramsey program so the majority of our checks go to the utility companies not places like Wal*Mart or Best Buy.  I would bet we spend about the same as most people in our income range.

If you knew the Petty's we are really in a good place financially and I think the account we were going to buy the computer out of had well over $20,000 in it.  Of all the consumers in Topeka you would want in your store, we should be on the list of the invited. 

For some unknown reason, the Tele Check approval company used by Best Buy thought we do not write enough checks and said we were not approved.  We still had an account in the bank that moved, and it had well over $5,000 in it.  Because the first check was disapproved, Tele Check would not let us use the account we had used for over 25 years.  We just left the store shaking our head and moved on.

We went to Nebraska Furniture Mart a couple of days later and they didn't even hesitate to take our check.  I am the proud owner of a HP notebook and am very happy with it. 

Now let me tell you why I think Best Buy is on the road to failure.  Once a salesman has a problem, the store manager or assistant manager should have been able to just call the bank and verify the check was good.  Instead, even the corporate guys claim that Tele Check is their go to guys and they have the utmost faith in their services.  No flexibility, no authority no ability to approve a small check.  If they had the ability to check their computer, they would find me somewhere in there for the Microwave and many other items. 

I would challenge anyone to check any or all of my credit history and find anything lacking.  In fact, I would challenge any of the corporate guys to try to match my balance sheet with theirs.

Here is really why I think Best Buy is in trouble.  Barb and I are pretty typical consumers and about every year one or two of our old major appliances will need replaced.  Where do you think we are going to shop?  Yep, you can bet that it won't be Best Buy.  There is just nothing I can't buy elsewhere in a store in Topeka.  What do you think my comments are if someone asks us about Best Buy? 

I hope you have a lot better experience if you Shop at Best Buy, but remember that they do not allow their store personnel to sell a $600 computer without the approval of Tele Check.  There is not a check cashing store in Topeka or anywhere that would not cash a check for that amount anytime, any day. Every store I walk into will give me a credit card on the spot.  Not Best Buy...


1 comment:

  1. Anonymous5:28 PM

    Best Buy did that to me over 10 years ago. No telling how much business they have lost over the years due to their check approval company. Now I use a credit card and pay it off at the end of every month. Rick