Black Friday buyer's remorse? Best return policies
It’s exciting to score huge savings on holiday gifts with Black Friday sales. However, it can be so exhilarating that you unintentionally go overboard — and just like waking up the night after too many glasses of wine, you might sober up only to realize you have made some mistakes.
It's exciting to score huge savings on holiday gifts with Black Friday sales. However, it can be so exhilarating that you unintentionally go overboard — and just like waking up the night after too many glasses of wine, you might sober up only to realize you have made some mistakes.
But there's no need to worry; retailers have a safety net in place to manage the financial mistakes we make from time to time. If you got a bit trigger happy with your purchases on Black Friday and now realize you've bought way too much stuff, you can always take advantage of store return policies.
You might also like …
5 Biggest Black Friday Retailers and Return Policies
So now that you realize your financial mishaps this Black Friday, you have to sort through your purchases and decide what you don't want to hold on to and what needs to be returned. Since it's likely that you visited one of the major retailers to make your Black Friday purchases, below are five retail return policies that can make the process a bit smoother.
Walmart is notorious for endless lines and aggressive shoppers on Black Friday morning thanks to the steep discounts promised by this retailer. In fact, this year the sales begin at 6 p.m. on Thanksgiving Day! However, considering Black Friday deals aren't what they used to be, you might find that you're better off making a few returns and saving your money.
Here are the basics of the Walmart return policy:
Return time frame: Generally, Walmart accepts returns within 90 days after purchase with the exception of a few items. There is also an extended holiday returns policy for purchases made between Nov. 1 and Dec. 24, 2014.
Receipt requirement: Walmart accepts returns without a receipt. However, the purchase price must be lower than $25 for a cash refund. Other returns made without a receipt are added to a Walmart shopping card or result in an even exchange for the product.
Limited-return items (holiday exception): Walmart adjusted its return policy for the holiday-gift-buying season on items that typically have a limited return or exchange period (15 days, 30 days, etc.). Items like TVs, cameras, computers and DVD players purchased between Nov. 1 and Dec. 24 will be returnable starting Dec. 26.
Walmart.com purchases: As with store purchases, most items can be returned within 90 days of purchase. Items purchased and shipped via Walmart.com can be returned, replaced or exchanged via shipping, or by bringing the item to any Walmart store. This policy does not apply to Marketplace items.
2. Best Buy
Customers who made it to Best Buy this Black Friday likely stocked up on the latest electronics, movies and games. Feeling some buyer's remorse? Take a look at Best Buy's return policy:
Holiday returns: Gift purchases made between Nov. 1 and Dec. 31 can be returned through Jan. 15, 2015. It's good to note that the terms of Best Buy's standard policy, including, but not limited to "non-refundable items" and "photo identification required" apply.
Receipt and ID requirements: Best Buy requires the original receipt, gift receipt or packing slip for all returns and exchanges. If returning an item at a Best Buy store, a valid ID is also required.
Geek Squad Protection and Trade-in-Plus plans: Geek Squad Protection and Trade-in-Plus plans that are returned after 30 days from the date of purchase will be refunded at a prorated amount. No restocking fees apply.
Nonreturnable items: A number of items cannot be returned to Best Buy, including prepaid cards, consumable items, damaged items, opened software, downloadable digital content and Geek Squad installations.
Bestbuy.com purchases: Items purchased on Bestbuy.com can be returned to any Best Buy store within the United States as long as all original packing materials are included and you bring a receipt, packing slip, and photo ID.
Kohl's offers fairly low prices year round, so Black Friday shoppers expect impressive savings. Need to take something back? Here is the Kohl's return policy in a nutshell:
Hassle-Free Returns: Kohl's is popular for its Hassle-Free Return policy, which means there are no restrictions on returns in terms of items, time frames or reasons. Items returned more than 12 months after the purchase date will qualify for a Kohl's Merchandise Credit. The only item that currently cannot be returned is a gift card.
Receipt requirement: A receipt is preferred, but not required to return an item to Kohl's. Non-receipt returns made for items purchased via a Kohl's Charge or other major credit card receive full credit on that card. Otherwise, the store will offer an even exchange or Kohl's merchandise credit.
Kohls.com purchases: The Kohl's website allows customers to return any item, anytime, for any reason. Simply bring the receipt and item into a Kohl's store for a full refund, exchange or merchandise credit — no questions asked.
Black Friday is usually a huge event for Target. If one of your purchases was made in haste, here's a quick snapshot of Target's return policy:
Return time frame: Generally, Target accepts returns for both new and used condition within 90 days of purchase.
Limited-return items: Items like computer hardware, cameras, camcorders, giftcards, prepaid cell phones and prepaid cards must be returned within 45 days. Music, movies, video games and software can only be exchanged.
Receipt and ID requirements: Returns require a receipt or gift receipt, though Target will allow a non-receipted return or exchange using a valid government-issued photo ID (such as a driver's license) up to a certain dollar amount per year.
Target.com purchases: Purchases made on Target.com can be shipped back to the retailer or returned to any store in the United States. As with in-store purchases, Target.com items can be returned within 90 days for a full refund or exchange.
You can't complete your Black Friday shopping without grabbing some items for the kids in your life. Here's a quick look at Toys"R"Us' return policy:
Return time frame: Almost all Toys"R"Us purchases can be returned within 90 days for a full refund.
Limited-return items: Items like video games and systems, computer software, DVDs, music, electronics, radio-control items, trading cards and collectibles must be returned within 45 days.
Receipt and item condition: Toys"R"Us requires that all items are returned in new, or like-new condition, it its original packaging, and with all paperwork, including manuals, assembly instructions, and accessories. Receipt also required.
Toysrus.com purchases: Purchases made on Toysrus.com can be shipped back to the retailer or returned to any store in the United States. Online purchases can be returned within 90 days and follow the same return rules as in-store purchases. Shipping costs are not refunded unless an item is damaged or defective.
GOBankingRates.com is a leading portal for personal finance news and features, offering visitors the latest information on everything from interest rates to strategies on saving money, managing a budget and getting out of debt.