Secured Cards & Rental Cars
Date: Wed, 07/15/2009 - 20:36
Will a secured card charge interest on a rental car deposit (hold)? I plan to use my secured card to rent cars on business trips but will pay the bill with my debit card. I'm curious how long the secured card will take to release the deposit and will/can they charge interest on the deposit until they release it?
A secured card acts exactly like a regular credit card. The depo
A secured card acts exactly like a regular credit card. The deposit will generally take 3 or 4 days to post, just like any other processed refund. A credit card does not charge interest until there is a balance carryover. If you paid off the credit card in full every month, you would never be charged interest (which is why some credit card companies greedily added penalty fees on those people).
