Understanding Hertz Deposit Amount and Hold on Credit Card

When it comes to renting a car from Hertz, it’s essential to understand the associated financial processes, especially the deposit amount and the hold on your credit card. These factors affect your available credit or bank balance during the rental period, thus warranting a deeper insight.

Why Does Hertz Charge a Deposit?

Hertz Car Rental’s deposit serves as a financial security measure, ensuring that there are available funds to cover the cost of the rental and any additional charges that may occur, such as potential damages during the rental period. Hertz offers various insurance and protection products to its customers, including Collision Damage Waiver (CDW) and Supplemental Liability Protection (SLP). The CDW is not insurance per se but waives the renter’s responsibility for all or part of the cost of damage to, loss or theft of, the vehicle, provided no actions that invalidate the waiver are taken. This means that if the CDW is purchased and the vehicle is damaged, the renter might not be held financially responsible, and therefore the deposit may not be used to cover these damages. However, should something happen to your rental car, you are financially responsible for this excess. To avoid unexpected costs, consider exploring our comprehensive car rental insurance options, which provide coverage for various scenarios, including damage and theft. By opting to car hire excess insurance, you can significantly reduce your financial liability in case of an incident with your Hertz rental car, as the excess amount can be eliminated and reduced to zero for as low as $6.49 per day* to $94.90 for an annual car hire excess insurance policy.

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Hertz Hold on Credit Card

Hertz, like other rental companies, places a hold on your credit card to cover the estimated rental charges and any additional costs that may occur during the rental period. This article will delve into this practice to provide you with a comprehensive understanding.

• The authorization hold is a standard practice. It ensures that the rental charges and any additional expenses (like fuel charges or late return fees) can be covered by the renter’s available credit.
• The hold amount can be up to US$200 for credit cards and US$500 for debit cards. However, the actual hold amount can vary depending on specific conditions outlined at the time of rental.
• An additional hold can be placed on your card if the vehicle is not returned as per the agreement or if there are changes that result in extra charges.
• Hertz will release the hold once the total amount due has been charged to your card upon returning the vehicle.

Acceptable Credit Cards

• Hertz accepts a variety of charge cards such as American Express, MasterCard, Carte Blanche, Diners Club, Discover, JCB, Visa, China Union Pay, and Hertz Charge Card.

Hertz Rental Car Deposit

Many renters often question, “Does Hertz require a deposit?” Indeed, Hertz requires a deposit which can vary significantly depending on the type of vehicle you rent.

• The deposit is a temporary charge on your credit card, which is returned after you return the car in the agreed condition and timeframe.
• The deposit varies between USD 900.00 for smaller vehicles (like a Hyundai i20 or Toyota Corolla) to USD 2,000.00 for larger or premium vehicles (like a Jeep Wrangler or Ford Bronco).
• The deposit is in addition to the rental charges and is included in the authorization hold placed on your card.

Hertz Refundable Deposit

Asking “How much is Hertz deposit?” is as important as understanding its refund process. Let’s discuss the latter.

• Hertz returns the security deposit in full when you return the vehicle in good shape, on time, and with the appropriate fuel amount.
• If you rent with a credit card, Hertz will release the hold on the deposit within 24 hours of the vehicle’s return. If you rent with a debit card, the hold amount depends on your bank’s policy.

Hertz Security Deposit and Refund Process

Hertz will fully restore your security deposit when you return the car, providing that it is in excellent condition, is returned on schedule, and has the right quantity of fuel. Depending on how you paid, you may receive your security deposit sooner or later. It is not Hertz who determines how long this procedure takes.

If you rent with a credit card

Hertz places a hold on your account for the total rental amount plus the security deposit if you pay with a credit card. Hertz will charge the entire amount of the rental when you return the car. Within 24 hours, the deposit’s hold will be lifted.

Consider that the security deposit for a $300 rental car is $100. Hertz would place a $400 hold on your credit card before you could pick up the vehicle. Your credit card would be charged $300 when you returned the automobile, and you would get your $100 back within a day.

Renters who pay with a debit card

Hertz will place a hold on your bank account associated with your debit card on the day of pick-up for the full amount of the rental plus a $500 security deposit. By signing the contract, you grant the rental car business permission to take money out of your bank account in the amount of the security deposit to pay for late fees or damage repair.

In most ways, renting using a debit card is identical to renting with a credit card, but there are a few more hoops to jump through. You need two types of identification to use a debit card, and an airline ticket for your return flight is required for airport rentals.

In some areas, debit cards cannot be used to guarantee a rental reservation unless it is already associated with the renter’s Hertz Gold Plus Rewards account or an insurance replacement rental. These limits apply to rentals in Atlanta, select parts of Philadelphia, Hartford, Connecticut, Baltimore, Boston, and Manchester, New Hampshire, as well as the New York City metropolitan tri-state area (New York, New Jersey, and Connecticut).

You must have sufficient cash on hand in your bank account to cover both the rental and any additional deposits specified in the tenant criteria. Usually, the deposit is reimbursed in 24 hours. But be aware that it could take five to ten days for those cash to appear in your bank account, depending on your bank.

If you pay cash to rent

It is possible, if more challenging, to rent a car from Hertz with cash. In addition to the $500 down payment, there is additional paperwork and advance preparation required. If the counter has cash on hand, the money can be repaid; otherwise, a cheque will be mailed. Customers who wish to make a cash payment must first apply for a special identity card, which entails paying a $15 processing charge (non-refundable) to cover a modified credit check. That procedure could take a month.

Regardless of how you paid for your rental car, contact Hertz at 800-654-4173 if you don’t receive your security deposit back within the anticipated time limit.

Tips for Monitoring Your Rental Car Transaction

When hiring a car, heed the following advice to prevent cash flow problems:

• Find out in advance how much the hold—which consists of the cost of the rental car plus the security deposit—will be before securing the reservation.
• Check your credit card’s available credit before picking up the rental car. It is recommended to call the number shown on the back of your card to make a rapid payment to increase your available credit if you are approaching your credit limit so you can pay the whole amount.
• To be safe, give yourself a cushion. Consider using a new credit card if you are unable to make a payment because you are very close to your credit limit.
• Check your receipt after returning the car. Keep an eye on your account to ensure that you receive your deposit refunded promptly and in full.

Final Word

Understanding the deposit amount and credit card hold when renting from Hertz is crucial to manage your finances effectively during the rental period. Always remember that Hertz places a hold on your card to cover the estimated rental charges and any additional costs. The deposit amount varies depending on the type of vehicle rented. Finally, Hertz returns the security deposit once the car is returned according to the agreed terms.

FAQs

Does Hertz require a deposit when renting a car?

Yes, Hertz does require a deposit when renting a car. The deposit amount varies depending on the vehicle type.

How much is the Hertz hold on my credit card?

Hertz can place a hold of up to US$200 for credit cards and US$500 for debit cards on your account. This amount includes the estimated rental charges and additional costs that may occur during the rental period.

When will Hertz return my deposit?

Hertz will return your deposit once you return the car in good condition, on time, and with the appropriate amount of fuel. The release time can vary; if you used a credit card, the hold on the deposit would be released within 24 hours. If you used a debit card, the release time depends on your bank’s policy.