Is There Anything Wrong With Taking Full Advantage of a Generous Return Policy?
Published 11/1/07 (Modified 3/8/11)
Costco used to have the most generous return policy I've ever seen in the history of shopping. In early 2007 they finally changed it, but previously, Costco's policy permitted anyone to return anything with or without receipt at any time, so long as you remained a Costco member. There was no product limitation, no time restriction, and no restocking fees. It was essentially a lifetime warranty on steroids. :)
Obviously this policy was ripe for abuse. I knew people who bought expensive CRT television sets from Costco, only to bring it back several years later to return it for store credit. Even without the receipt, they could still exchange it for a brand new flat screen model many years after buying the first one. Although legitimate, some returns were pretty outrageous and I'm surprised Costco let it go on for so long.