09-19-2020 01:22 PM
It seems Best Buy is now in the habit of letting you place orders online with reasonable shipping dates, charging your Best Buy credit card based on those dates then a couple of days later sending a message to inform you of a delay and leaving the charge on the card. This has happened twice in the last 3 months.
I would imagine Best Buy has not paid their vendors for items they have been paid in full for hence front-loading their numbers for the balance sheets to look good.
Best Buy you are better than this surely !
09-19-2020 08:01 PM
When you place an order, your card is validated as authentic with a credit card authorization...not a charge. We charge when the order is shipped, not at any point before. Likewise, as no revenue was taken these numbers cannot appear on any balance sheets since that would violate Sarbanes-Oxley.
As for why the authorization remains, every banking institution has a different protocol for when they release the funds. My debit card is the worst, and when I was younger the $75 authorization for $30 in gas would hit the checkbook pretty hard. It took them more than a week to release the rest. Now this was a Visa branded debit card, so that process should have been much faster. OTOH, my curent credit card releases that within 3-4 business days. Your card issuer should be able to clarify how long they take to release the authorization.
The COVID-19 pandemic has cause many items to become scarce as manufacturers struggle to keep up with demand. It's not fun working in the store with so many popular items in short supply. What you're seeing is an advertised date based on the most current inventory levels. Let say that you order a printer, and there is one in stock at a nearby store. If a customer has already picked that up and has not yet checked out, there would be no way for our website to know that. When the order goes through and the employee goes to pick and ship, the item is not there. They mark it as such, which will send it to the next location to repeat the process and so on. If there is no longer one available, you get a new date. With the hundreds of items my store picks in a day, we see this happen maybe a few times in a week. There is no perfect solution for this scenario, they could have shut off ordering when it gets to a small quantity but what if no one in store decides to buy it so it just sits there. I think it's set up to work the best as it is right, and the vast majority of the time it works just fine. That does mean, however, that occasionally an order is not going to be fulfilled and a new date issued.
09-19-2020 11:47 PM
This seems to be a erroneous reply seeing my balance due shows the full amount of the transaction on the cc statement of over $4k so maybe you need to investigate deeper to see if by your own admission you are violating Sarbanes-Oxley.
Best Buy has twice promised goods on a date and twice pushed out the delivery dates once the order has been placed.
given today's inventory management systems I doubt that it would be my misfortune on 2 orders that all 4 items got purchased simultaneously while I was placing my order.
I think a closer look at BB business practices might uncover more than you are elaborating.
09-22-2020 03:40 PM
Hi, MartinBrookes, and welcome to our online community!
Thank you for reaching out for support on our forum. I know how alarming it can be to see a charge for something you haven't received, and I hate to hear about the experiences you've had with Best Buy's payment authorizations.
While jdogg836 provided great insight into how our processes work, please feel free to send me a private message if you believe you have been incorrectly charged for an order that was cancelled. You can find the blue option to message me to the right of my name below.
All the best,