I purchased a rug from overstock.com that I IMMEDIATELY cancelled (we're talking within a span of 5 minutes). I was told by a representative that since the order never processed, I shouldn't worry about funds being removed from my account for the total. Well, they lied. Not only did they take the money, they refused to return it to my banking account. I called every single day for 8 days straight inquiring about the status of my refund. Each time I received the same promise that the money would be returned within 24-48 hours. Of course, this never happened! On the 8th day, I contacted the company AGAIN and was told they they have "escalated it to [their] special claims department." This sounds like a bunch of lies to me. Why wait so long to escalate the claim? This probably should've been done 48 hours after the funds were not returned to my account as promised. Plus, I don't know what that even means -obviously nothing since I still don't have my money. I have now escalated the claim to the BBB. These guys are scam artists and I will NEVER shop with them again. Also, I've gone on every website I can to warn others to avoid these guys at all cost!!!

I think you should google authorization hold or read http://en.wikipedia.org/wiki/Authorization_hold on wikipedia before going ballistic and blaming companies like Overstock

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Authorization hold (also card authorisation, preauthorization, or preauth) is the practice within the banking industry of authorizing electronic transactions done with a debit card or credit card and holding this balance as unavailable either until the merchant clears the transaction (also called settlement), or the hold "falls off." In the case of debit cards, authorization holds can fall off the account (thus rendering the balance available again) anywhere from 1–5 days after the transaction date depending on the bank's policy; in the case of credit cards, holds may last as long as 30 days, depending on the issuing bank.

Signature-based (non-PIN-based) credit and debit card transactions are a two-step process, consisting of an authorization and a settlement.
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From Wellfargo:
https://www.wellsfargo.com/biz/merchant/service/manage/authorization
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An authorization is an approval on a cardholder account for a sale amount. An authorization hold is a reduction of the cardholder's credit line for the amount of the sale. This hold can remain on the cardholder's account for up to 30 days, depending upon the issuing bank policy.
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I ordered DVD's for my grandson. Overstock states free shipping on TV. They charged my credit card with shipping. Before I even got off line I went into live chat and attemped to cancel my order. Rep said he will try. I then attempted to ask for a return. Overstock.com states no returns. Do not do business with this scam company. No free shipping, no canceling orders and no returns.

I wanted to let the world know in any way possible to avoid the return scam or basically any scam including prices on overstock. I am a victim also of the Hair Return Scam. I ordered 450.00 worth of outerwear with the intentions of only keeping a few items because I wanted to try on the items and pick colors after reading some posted reviews about different sizing issues. I also ordered a scarf and travel bag. The scarf arrived two days later seperate from the other items and I didn't like it so I wanted to return it. I went online to get the RMA as posted in the description of the item and the policy page for overstock. It stated "NOT Returnable" I called to find out why because it was 100.00 scarf. They said it was returnable but asked me 20 times why I didn't like it. I finally had to say I just want to return the item so can I please have the number. I returned it the same day and received a partial return over 3 weeks later (they took a restock fee??). I received the outerwear all crammed into a small box a week later and the travel bag the following 5 days later (which was crap and not returnable according to them). I picked what I wanted and went back online to initiate the return and 90% of it said not returnable where some was. I called again and after hours of run-around got the RMA for the return. I returned the same day. I didn't even take one jacket out of it's plastic bag sealed. I put everything back in the box neatly and in the same exact packaging it arrived in. I tried on one of the jackets for fit and it was not for me. The other was a color issue but it was never opened. After at least 4 weeks and 8 emails later I received an email stating my return had been processed. Overstock had deducted half of what I paid and in the reason box it stated that HAIR had been found on the items. I called and talked to someone who said the warehouse would get back to them. After another week, I called again and they said that white hairs had been found on the items and they couldn't be sold. I have black hair ? They said they were looking at photos proving I had returned the items with hair on them but I asked for the pictures and they said they couldn't email that. So I filed with the BBB and finally after around 7 weeks after returning the items received my return. I didn't send anything with hairs on it so I was curious to see if anyone had problems with overstock as I did and sure enough they did. There are countless websites, articles and reports on this scam and pricing scams with overstock. There are even lawsuits against them and their pricing scams. I cannot believe that this can happen where we live. After living in a 3rd world country for a few years for work I can see it there but here? I find that overstock values are inflated, the quality poor or defective in many cases and the un-ethical practices of returning consumer money deplorable and we should take aim to protect other people. Money is hard to come by in my houshold and the least thing that can happen is that they be held accountable for unfair practices

I purchased a 2 year "no hassle" protection plan through Overstock.com for a new coffee maker in Feb. of 09. The coffee machine is a unique design by Cuisinart that dispenses coffee via a lever, instead of a conventional pot. A week ago, the lever for the coffee dispenser mechanism snapped off the the machine, making the machine totally useless, as you cannot dispense the coffee that is made without it. We filed a claim for repair or replacement of the machine. However our request was denied on the basis that it was an accident. An "accident" as termed in the agreement we were provided, is as follows...

"abuse, misuse, introduction of foreign objects into the product, unauthorized product modification or alterations, failure to follow the manufacturers instructions" We explained to the OUTSOURCED CUSTOMER SERVICE that the failure of the part was due to normal use and not an accident as termed in the agreement. However, they kept referring to "physical damage" as the #1 reason for not honoring the protection plan. When asked for an explanation as to what exactly IS physical damage, they could not offer an answer. They also stated they do not cover pieces that fall off of any product. Our copy of the agreement stated very clearly that "Failures caused by defects in workmanship and materials" are fully covered. The piece that broke is a critical part of the machine and under NORMAL everyday use, and without it, it is non-functional. The company claims that the actual agreement we have is not the full disclosed agreement. When asked for a copy of the full agreement, the company refused to provide one, they further refused to provide a link to the "full" agreement that could be read online. This in itself is VERY suspicious and sent up red flag warnings. Overstock is knowingly pushing protection plans with hidden agreements that are not made known to the consumer at the time of purchase. They are also supporting 3rd party insurance scams that are impossible to redeem if something should happen to the product because of hidden agreements that the consumer is not made aware of and unwillingness of the protection plan company to honor the agreement. To top it all off, the customer service reps literally hung up TWICE when challenged on the terms of the agreement. The answer to all our problems according to the customer reps?? Call the manufacturer and have them fix it... well I thought that was the WHOLE POINT OF A PROTECTION PLAN IN THE FIRST PLACE.. was to avoid such a hassle. No Hassle Protection Plans from overstock are not "No Hassle".. they are a RIPOFF. Don't waste your money.