Evidently Blockbuster, tired of losing eyeballs to Tivo and Netflix, is axing late fees. You have a one week grace period (fee-free) after the due date, after which they’ll charge the item to your credit card (minus the rental fee), and it’s yours to keep. You can return it anytime within 30 days for a refund (minus a $1.25 restock fee).

I’ve racked up late fees that are more than the cost of the movie before, so this is a needed change. I’m not giving up Netflix anytime soon, but at least now when I want a movie tonight, I’ll be willing to CONSIDER going to the video store. And this also makes me view Blockbuster as a promising alternative to retail stores - it’s like a no-paperwork return policy. Best Buy, hope you’re watching…