Consumer's FAQ To The Circuit City Liquidation
Now that Circuit City is getting liquidated, what happens to your gift cards? What about extended warranties and repairs? These burning questions and more, answered in our Consumers' FAQ to the Circuit City liquidation extravaganza...
What happens to my gift cards?
Spend them before the liquidation sale ends. After the stores close, the cards will have no value.
I bought an extended warranty (Circuit City Advantage Protection Plan) from Circuit City. Is it worth anything?
You're good. Extended warranties are handled by a third-party company.
I have a computer out for repair with Circuit City, will I get it back?
Any job already in process will be completed, but no new repairs will be accepted.
What happens to my Circuit City credit card?
The account will probably get sold to another retailer. When Montgomery Ward went under, Walmart welcomed its credit card customers to its big blue bosom.
I have some stuff from Christmas I didn't get around to returning, will returns be accepted?
You've got until January 30th to return anything bought before January 16. All sales are final on anything bought after January 16.
I have a rebate that's processing. Will I get it?
If the rebate is sponsored by the manufacturer, it's fine. If it was sponsored by Circuit City itself, things might get dicier if the processor hasn't received their payment from CC yet.
Are liquidation sales good places to find bargains?
No. Most of the time the liquidator raises all the prices back to their original number and starts marking down from there, with the markdowns getting steeper week by week. He's still allowed to make big signs that scream 50% OFF!!!! even though that price at the time might be the same or even higher than the price before the liquidation. By the time prices actually get below what they were pre-liquidation, most of the inventory has been picked pretty clean. Except for the most dedicated bargain sleuths, liquidation sales are a ripoff.
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Comments:
What happened to that article teaching me how to steal stuff?
Ohh if I could still get on the companies forums to give them I told you so..
Here's a question: What about fixtures? I can really use some shelves for the garage and
Even though I still have it in my head that you should be able to get some good deals at a liquidation I have never in my life found that to be true. I went to LinensNThings when they had everything 70% off and found that, although there was only pillow cases some misc. crap left, things were still more than I would pay for them. I mean, if they expect me to believe that an average pair of pillow cases ever cost $80 that's an insult.
...and it seems like they might work, if they are going to sell them.
@TinkishDelight: They took it off, thankfully. It was tasteless and way too pompous, in case you didn't read the article linked to it. Definitely below the consumerist to link to.
Now, bring on the red heads with cleavage!
Thanks, my gf was just wondering aloud about the extended warranty on her camera
@There'sAManOnTheWing!_GitEmSteveDave:
I believe that rebates are handled by third parties too, so you shouldn't be worried about that!
Hmm, I got an email from SquareTrade with the subject "Circuit City Liquidation, and your warranty options"
Circuit City announced today that they are unable to function under bankruptcy protection and are going into liquidation. This means that if you have bought a warranty FROM Circuit City directly, you will no longer be able to get service at the store - you will have to call the insurer that underwrites your Circuit City Advantage plan.Fortunately, you can still protect your Circuit City purchases with a warranty from SquareTrade. Coverage is available for any item that you've purchased or received as a gift from Circuit City in the past 90 days.
If you purchased a Circuit City warranty and would rather get a SquareTrade warranty, you can cancel your Circuit City contract for a pro-rated refund by calling 1-800-555-4615. See your City Advantage contract or the Circuit City website for details.
It doesn't actually say that you're out of luck, but apparently I should want to buy SquareTrade warranties for all my Circuit City purchased items because "you will no longer be able to get service at the store". It's a rather sleazy approach.
Great deal with Circuit City credit card - Chase closed the card (6k limit, 0 balance) and added the 6k to my Chase Disney account! Nice!
Sad to see CC go under. I think BB will have a field day with no competition(I don't shop at Walmart).
Anyone looking for bargains be warned. When CC closed a few stores sometime back(they closed a store close to where I live and I went there looking for bargains), the prices were jacked up and even with the discount the prices were higher than Amazon and other retailers.
One piece of advice: look during the last week of the closeout for Blu-Ray discs. The store here was in the last closing wave, and they had a buttload of Blu-Rays for about a dollar on the last couple of days. The selection wasn't great, but still...
@illtron:
At most of the sales that I've been to, they also start seeling the fixtures twoards the end (when there's nothing left to stock them with). My husband got some nice shelving units from GoodGuys for his product. And we got a wicked cool TV stand for about $20.
@nsv: I forwarded my email to the "tips" line here, so they can get the full effect with the chart and all.
@nsv: Wow, that letter is so incredibly sleazy, it warrants a new Consumerist front page article on it's own.
I have prepared my own FAQ on this subject.
Q: What will happen to all the slacker retards that push worthless,overpriced warranties on trusting customers ?
A: They will now be placed in customer service jobs with wireless phone carriers,cable companies and online tech support for Dell.
Q: Did the CEO's shortsighted,greedy decision to broom all of the experienced ,mature sales staff have any bearing on the neccessity to liquidate ?
A: No. Following liquidation,CC's labor costs as a percentage of sales will be lower than ever.(Zero)
Q: What will happen to my investment in Circuit City stock after the liquidation ?
A: Your stock certificate makes an excellent media for wiping up stubborn oil spills in your driveway.
Q: Will prices actually be HIGHER now that the liquidation companies that have been hired to do the job are a bunch of dishonest crooks that would sell their grandmother for a nickel ?
A: Good question. Prices will enter a fantasyland ,"through the looking glass" phase that makes you wonder if the new owners are smoking crack.
Q: So ,Mr. (or MS.) Snarkysnake ,if that is your REAL name, these "liquidations" have become a regressive tax on the stupid and uninformed who believe that just because they call it a liquidation,it must be a screamin' deal ?
A: No need to get personal. That is exactly what I am saying.
Q: Is this FAQ almost finished ?
A: Nope. One more.
Q: I s the CC bankruptcy and liquidation a symbol, a metaphor , if you will, for the overall malaise sweeping the country in the midst of the current financial crisis ? Does this mean that capitalism itself is on trial in the eyes of the world ?
A: Did you come up with that question at Starbucks or what ? Hell no. This is just a shitty company that was run into the ground by stupid,incompetent management. No deep truths or fancy explanations. They just screwed the pooch.
I bought a 46 inch sharp lcd from CC on black friday of 2007. I also bought a 3 year warranty. Who exactly is responsible for it?
Can anyone help? Im worried as hell.
I was wondering about The Source, are they closing their doors too? Most likely since I believe are run by CC.
Assurant Solutions owns the warranties. You'll have to call them for any service, since your TV is above 25" you qualify for in-home service. I'm not sure of their number off the top of my head but it should have been included with your warranty paperwork.
I hope this teaches everyone once and for all that nobody beats the wiz.
@cuchanu: I wish this would stop happening. There was an electornics store liquidating back in the day, so I went in hoping to get some good deals. I was walking around checking prices on www.froogle.com with my phone, and everything was way more than the lowest froogle price.
But a Virigin Megastore went out of business too, and I got a lot of CDs and DVDs for at least 50% off. So at least sometimes stores liquidate correctly.
@cuchanu: Hmmm... Not sure what you mean by average pair but I found myself surprised a few weeks ago when my wife came home with pillow cases that were on sale for $70 each and a duvet cover for $250+.
This is why I always shopped at Micro Center anyhow. I used to work at Circuit when we were commissioned sales. Commission sales drives the employee to drive margin. The nice thing about micro Center is that their commission sales people don't beat you over the head to make those sales. As a favor I always make sure to buy extra cables, paper and ink with any printers and load up whenever I buy a computer with all the extras. It keeps them going so I always have someone to go to for help and it keeps me going so I'm not making a million trips to get the things I needed anyhow with gas prices so high. I also make sure to get their service plan because they back it and it's better than any crappy warranty because they really do back their plans. That said I'm also not one of those schmucks that takes advantage of a good thing by trying to rape them for a better bargain and because of that they usually give me a better deal anyhow. I pity anyone that doesn't have a Micro Center in their area really do. Best Buy is a joke with their pimple faced teens who really don't know squat and are just there to punch a timeclock. Now if only they could hire the people that made Circuit City's web site.
Hey look at the email I got TODAY (11:12 AM):
[email.circuitcity.com]
Some of those deals look pretty good.
@doctor_cos: I got an email from CC today as well, I wonder when they will stop sending them out, or if they will start sending liquidation emails! They also have several contests on their website that I was entering however I stopped entering them today, even if I did win I might never get the prize.
There have also been some questions about what happens to those with the circuit city "gamer" cards, apparently its a paid card that you use to get discounts at CC. Will people who signed up for the card be able to get refunds (especially those who signed up recently) or is that money just lost now?
Note to self - Never sign up for any paid loyalty cards from retail stores, because they may close and for other reasons as well.
technically the liquidation sale starts tomorrow, would tonight be a good night for lower prices?
Question for advise here. I made a purchase in September of last year at CC. And the CC Rebate was $10.00 I never received my rebate check In early December I called the 800 number to see what was going on. They told me I didn't qualify for the rebate, even after following every step to the letter.
In Mid December I received the $10.00 rebate check. It's issued by CC and not a rebate company. I still have it. Now, should I deposit the check today or tomorrow? or just call it a loss. If I deposit the check and has no funds I'll get dinged with a bigger bounced check fee from my bank!
What can I do? losing $10.00 is nothing I guess. a $35.00 bounced check fee is something.
Just came back from CC in Santa Monica, CA. Nothing on sale so far. I tried to get some info out of a saleswoman, who didn't know much either. According to her, she *thinks* it starts tomorrow, but they haven't told her much. I also overheard a salesperson helping a customer with some digital cameras and he kept saying, "well, if we DO go out of business...", which I'm sure is a load of sales BS, but I still thought it was interesting.
@imdgonz: My Circuit City Credit Card is still in limbo. Did you have to call them up or did they do it automatically?
@blainer: I second that..u deserve a star and CC deserves to go. Though I feel bad for all the folks who lost their jobs, they must have seen this coming and found greener pastures by now.
@imdgonz: Actually, I called up Chase... my Circuit City credit card was closed out right (I never even got a notification). My line of credit isn't going to my Chase Visa, either. Alas. :(
Reading the story about the liquidation on Cleveland.com (Cleveland Plain Dealer)..generates an ad for Circuitcity.com.
Hilarity ensued.
Does this mean that Circuit City will pull a CompUSA with their "sale"?
Circuit City credit cards are issued by chase, so it will probably just be re-branded a Chase credit card.
whats happening to 'The Source' stores now?
@illtron: It doesn't hurt to ask the store. I once worked retail for a company that was going out of business. We were required to do cold calls to a lot of used furniture stores about the tables and shelving units before we publicly posted the info about selling the fixtures. If you can snag a manager and express interest in something you can probably get it before it gets sold behind-the-scenes, especially if you leave a card where you can be contacted.
@cuchanu: That's exactly Ben's point. Most liquidators, mark up inventory to absurd levels and then start discounting it. Ignorant shoppers see a $1000 Netbook (not notebook) on sale for $600 and they think they've hit the jackpot. Once the sales actually make something worthwhile to buy, the stores are mostly picked over. So, unless you've got a lot of time to kill to monitor the stuff you want, its not worth it.
I bought an "AA" battery from CC two years ago and bought an extended 5 year warranty for it. Who will honor it once it quits working?
I pre-ordered Street Fighter IV and also received a $10 e-gift card. Can I expect to get the game or am I SOL? Can I just cancel the order?
What about rebates? I submitted one in mid December(12/13/08). According to their online tracking:
"Status Detail: Your rebate has been entered and is scheduled for final processing."
Should I worry?