Renting a Car? Use a Credit Card!
Are you traveling soon and need to rent a car? When choosing your payment method, we recommend always using a credit card for this type of transaction. Why? Let’s discuss!
Credit Cards are Easier to Dispute than Debit Cards. Say you go to return the car and the rental company assesses some damages and you’re positive that you’re not responsible, but they charge you anyway. In any transactional dispute, credit cards make it much easier to get your money back than debit cards.
Rental Companies Prefer Credit Card Payments. When you think about it, credit cards verify that you’re a real person with a real identity, since the credit card company has already vouched for you as a cardholder.
You Won’t Max Out Your Funds. If damages do occur to the rental vehicle and the company charges your card on file, you won’t overdraft your account.
The Security Deposit Won’t Hit Your Account Hard. Some rental companies charge as much as $500 as a security deposit that you will get back when you return the vehicle. But many people don’t have a cushion of that much in their checking account!
There Will Be More Requirements. Many major rental companies make it harder to rent with a debit card. They will have to run a credit check, require multiple forms of ID and possibly proof of residence, ask for proof of insurance, and require proof of pre-paid travel.
The conclusion? Rent your next vehicle with a credit card! In fact, Niagara Regional FCU doesn’t allow our debit cards to be used for rental cars for all of the reasons listed above. Credit cards are always the safer, easier way to go. After all, no one wants to run into these hiccups when traveling!
Learn more about our Credit Card options but calling Niagara Regional FCU today!