Credit Card Deposits for Car Rental
On the hotwire car rental blurb, what do they actually mean by "Sufficient credit must be available for a deposit. Amount of available credit required depends on car type, rental period, and optional items."?Basically, the car rental companies will require that they be able to freeze or authorize enough funds on your credit card to cover the full amount of your rental rate, including all taxes, surcharges, airport fees, and any optional insurances that you may purchase or special equipment that you may purchase (ie child seats, GPS, etc).
Let's say you rent a $25,000 car (car's MSRP). Are they putting a $25,000 hold on your credit? Or, is it just the rental charge (e.g. 1000 dollars if you rent 10 days at $100 per day)? Or is it something different?
Most car rental companies have a minimum hold between $250 - $500 (if you have a short rental) up to the full estimated amount of the rental charges, whichever is more.
Hope this helps!
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Car Rental Deposits
Category Article car rental deposits, Car Rental Policies, car rental rates
