How Much Does Enterprise Hold on a Credit Card?
Renting a car is a convenient way to travel, whether you are on vacation or need a temporary vehicle for any other reason. However, one aspect that can confuse many people is the hold that rental car companies place on their credit cards. Enterprise, one of the largest car rental companies in the world, also follows this practice. In this article, we will explore how much Enterprise holds on a credit card and answer some frequently asked questions regarding this topic.
When you rent a car from Enterprise, they require a credit card for payment and a hold for any potential damages or incidentals that may occur during the rental period. This hold is a predetermined amount that is temporarily deducted from your available credit limit. It acts as a security deposit, ensuring that Enterprise will be compensated in case of any expenses incurred during the rental period.
The amount Enterprise holds on a credit card can vary depending on several factors. First and foremost, it depends on the type of vehicle you are renting. The hold for a luxury or premium car will likely be higher compared to a compact or economy car. Additionally, the duration of your rental can also play a role. Longer rental periods may result in a higher hold amount.
On average, Enterprise holds a minimum of $200 on a credit card. However, the amount can go up to $500 or even $1,000, depending on the aforementioned factors. It is important to note that this hold is not an actual charge, but merely a temporary hold on your credit card. The actual charge will be made at the end of the rental period, which will include the rental fee, any additional charges, and deductions from the hold, if applicable.
Q: How does the hold affect my available credit limit?
A: The hold placed by Enterprise will temporarily reduce your available credit limit by the hold amount. It is important to consider this when planning your budget or making other purchases during the rental period.
Q: How long does the hold stay on my credit card?
A: The hold typically lasts until the end of the rental period. Once you return the vehicle undamaged and settle all outstanding charges, the hold will be released. However, it may take a few business days for the hold to be fully released and for the funds to become available in your account again.
Q: Can I use a debit card instead of a credit card?
A: Yes, Enterprise does accept debit cards for payment. However, the hold placed on a debit card may be higher compared to a credit card hold. Additionally, the funds for the hold will be deducted from your checking account, which may take longer to be released compared to a credit card hold.
Q: Can I use a prepaid credit card for the hold?
A: No, Enterprise does not accept prepaid credit cards for the hold. A traditional credit card or debit card is required.
Q: What happens if I exceed the hold amount?
A: If the charges incurred during your rental period exceed the hold amount, Enterprise may charge the remaining balance to your credit card. It is important to ensure that you have sufficient funds or credit limit available to cover any potential additional charges.
In conclusion, Enterprise holds a predetermined amount on a credit card as a security deposit when renting a car. The amount can vary based on factors such as the type of vehicle and rental duration. It is crucial to understand this hold and plan accordingly to avoid any inconvenience. By being aware of the hold amount and the FAQs mentioned above, you can have a smoother rental experience with Enterprise.