Car Rental Deposits
Do I need to have a certain amount of credit available to rent a car?
I have a credit card with a $250 limit that I use for emergencies only. I have to go to Boston next month and would like to rent a car to visit friends in another state.
I know for most car rental companies, you need a credit card to reserve it, and can then pay for it with cash/debit when you return. However, does the credit card need a certain limit? Does that matter?
I know that some companies who allow you to reserve with a debit card put a $300+ hold on the card, and then it takes about a week for them to release those funds once you've returned...but if I have a credit card do they put a hold that great?
They have to be able to hold at least the full amount of the rental on your credit card at the time of pick up (most companies have a minimum hold of between $200-$300).
This amount is not technically "charged", but as with the debit card, the funds are frozen and not accessible until you return the rental car and pay cash for the amount of the rental. The release of a hold on a credit card is much quicker than that on a debit card (usually the hold is released withing 48 hours).
Hope this helps!
Category Article car rental deposits
