which is easier to rent from using a debit card? what are there credit requirements?
Its your decision on which one will be the easiest to work with.
When using a debit card, plan ahead. Count on a $200 to $500 deposit — known as a "hold" — being placed on the checking or savings account linked to your debit card.
This is in addition to the cost of the rental car. These holds can tie up your money — meaning you won’t have access to your own money — for 24 hours to as much as 14 days.
Many rental car companies run credit checks on renters paying with debit cards. Think about it: If you don’t have a credit card, it may be a red flag to the rental car companies that you are a credit risk and should not be trusted with a $20,000 to $30,000 vehicle.
Be aware that credit checks show up on your credit report as inquiries. Too many inquiries can have a negative effect on your credit score and potentially hurt your chances of getting a mortgage or other types of loans.
If you already know you have bad credit, it may be best to look for alternative means of transportation or find another driver with good credit and a credit card to help.
March 7th, 2010 at 5:12 am
Its your decision on which one will be the easiest to work with.
When using a debit card, plan ahead. Count on a $200 to $500 deposit — known as a "hold" — being placed on the checking or savings account linked to your debit card.
This is in addition to the cost of the rental car. These holds can tie up your money — meaning you won’t have access to your own money — for 24 hours to as much as 14 days.
Many rental car companies run credit checks on renters paying with debit cards. Think about it: If you don’t have a credit card, it may be a red flag to the rental car companies that you are a credit risk and should not be trusted with a $20,000 to $30,000 vehicle.
Be aware that credit checks show up on your credit report as inquiries. Too many inquiries can have a negative effect on your credit score and potentially hurt your chances of getting a mortgage or other types of loans.
If you already know you have bad credit, it may be best to look for alternative means of transportation or find another driver with good credit and a credit card to help.
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