Car rental companies hold a portion of the customer’s credit card as a security deposit to ensure they have the funds available to cover any potential damages or fees incurred during the rental period. Understanding the hold amount is important to ensure there are enough funds available on the credit card to complete the rental transaction. In this article, we will take a detailed look at how much Thrifty Car Rental holds on a customer’s credit card and what factors may affect the hold amount.
What is a Hold on a Credit Card?
A hold on a credit card is a temporary hold on a certain amount of funds to ensure the customer has the available funds to cover any charges that may occur during the rental period. The hold amount varies by car rental company and may depend on several factors such as the type of vehicle being rented, the location, and the duration of the rental.
How Much Does Thrifty Car Rental Hold on a Credit Card?
The hold amount varies depending on several factors, including the type of vehicle being rented and the location of the rental. However, on average, Thrifty Car Rental holds $200 to $350 on a customer’s credit card for a standard rental.
For high-end or luxury vehicles, the hold amount may be higher and can range from $500 to $1,000 or more. The hold amount also depends on the rental location and the duration of the rental. For example, Thrifty Car Rental locations in major cities or popular tourist destinations may hold a higher amount on a customer’s credit card due to the increased risk of theft or damage.
What Factors Affect the Hold Amount?
There are several factors that can affect the hold amount on a credit card with Thrifty Car Rental. These include:
- Type of Vehicle: The type of vehicle being rented can affect the hold amount on a credit card. High-end or luxury vehicles typically require a higher hold amount due to their higher value and the increased risk of theft or damage.
- Rental Location: Thrifty Car Rental locations in major cities or popular tourist destinations may hold a higher amount on a customer’s credit card due to the increased risk of theft or damage.
- Duration of Rental: The longer the rental period, the higher the hold amount may be. This is because the rental company wants to ensure that they have enough funds available to cover any potential damages or fees incurred during the extended rental period.
- Insurance Coverage: If the customer chooses to purchase additional insurance coverage from Thrifty Car Rental, the hold amount may be higher to cover the cost of the insurance.
How Long Does the Hold Remain on the Credit Card?
Thrifty Car Rental typically releases the hold on a customer’s credit card within 7 to 10 business days after the rental is returned and the final charges have been processed. The hold may remain on the credit card for a longer period of time if there are any additional charges or damages that need to be resolved.
What Happens if the Hold Amount is Insufficient?
If the hold amount on a customer’s credit card is insufficient to cover any potential damages or fees incurred during the rental period, Thrifty Car Rental may decline the rental transaction or require additional payment to cover the costs. In this situation, the customer may need to provide an additional credit card or use a different form of payment to complete the rental transaction.
Tips for Avoiding Holds on a Credit Card with Thrifty Car Rental
To avoid holds on a credit card with Thrifty Car Rental, consider the following tips:
- Check Your Credit Card Limit: Ensure that the credit card being used for the rental has a high enough limit to cover the hold amount and any potential charges.
- Use a Different Form of Payment: Consider using a debit card instead of a credit card to avoid holds on the credit card. Debit cards typically do not have holds placed on them and allow the customer to access the funds immediately.
- Purchase Additional Insurance: Consider purchasing additional insurance coverage from Thrifty Car Rental to avoid a higher hold amount on the credit card.
- Plan Ahead: Book the rental in advance to ensure that the hold amount is within the customer’s budget and to avoid last-minute surprises.
In conclusion, understanding the hold amount on a credit card with Thrifty Car Rental is important to ensure there are enough funds available to complete the rental transaction. The hold amount may vary based on several factors such as the type of vehicle being rented, the rental location, and the duration of the rental. By following these tips, customers can avoid holds on their credit cards and have a smooth and hassle-free rental experience.