NEW YORK CAR RENTAL BLOG

Can I rent a car without a credit card?

April 7th, 2011

What You Need to Know When Renting a Car Without a Credit Card.

The problem: Renting a car to someone without a credit card is risky for rental car companies. Not having a credit card is a red flag that you may be a credit risk  and if you extend the rental or damage the car, the car rental company might not be able to collect what is owed to them. Remember: Most CREDIT card companies insure the car (believe it or not..) and if you return the car with  damage and you rented with a CREDIT card, Amex, Visa, M/C etc will send the car rental company a check to cover repairs for all damage and “loss of use”. 

Of course, your credit may be excellent and you may just prefer not to use a credit card. Very few car rental companies understand that with a little scrutiny, it’s not a greater risk, so some are offering you the option of renting with a debit card, while requiring that you have a substantial sum available in the event you keep the car longer or it is damaged during the rental period. Here are some important things to keep in mind if you do plan on renting this way:

• Logo requirements. While many rental car companies accept debit cards, many also require that the cards have a Visa or MasterCard logo.
• Expect a credit check. Some companies, not all, will perform a debit card check and credit inquiry to ensure that you have the proper funds. (Keep in mind, credit inquiries show up on your credit report,  too many inquiries can actually lower your credit score.)
• Prepare to pay a deposit. Often times, rental car companies place a hold on the account linked to your card. It’s basically a deposit that they’ll hold until you return the vehicle. These deposits can be $600, $700  or more.
• Be prepared to provide additional documents such as bank statements, utility bills, etc. if you are using a pre-paid card.

        In summation: Do not be deterred if you need to rent without a credit card. In NYC,  AAMCAR rents to customers who have debit cards.  They are very flexible and will work with you.  

Entry Filed under: Q&A