@youngandcreditwrthy wrote:lol I'm not sure what you mean by paying $2600 on a $3k balance...I haven't charged that much on my Amex BCE, nor do I plan to...unless I get that big 3xcli, then I'll pay my tuition with it then pif.
My first statement was $199.58, which I pif'ed already, second statement should be like maybe $500. I'll pif too. lol
Well, I live where I work (a student property).. and I take the bus to school lol... so I don't need a car really, I just rent one like three or four days of the week to run my errands and maybe drive to see friends/family or go out lol. I spend like maybe $400 total a month, maybe even more like $280 ($70 a weekend) on rentals through Hertz, and I already have like a free week of rentals from my points. I like this option because I have no obligation to ever purchase the vehicle or get stuck in a payment or $20,000 in debt for a car OR even paying monthly insurance. Visa covers the car insurance while I rent it.. lol because of that Auto Rental Collision Damage Waiver insurance that is free :-). I've though about leasing a car, but I really just don't want to be stuck in any payment or have to pay full coverage insurance. I've thought about buying a car for cash (like $3-4K), but I just don't really want to own a car right now. It took me forever to pay off the last one LOL.. and I just HATE paying for insurance haha.
:-)
Honda Civic LX, $220 a month, 35 months. still cheaper than your renting and have a car 100% of the time. and insurance wouldn't be more than $180 a month I would think. Not sure but I'm in Florida and insurance rates here are bad, and it would cost me $44 to insure me for a Porsche 911 but then I have a perfect driving record with excellent credit =)
@youngandcreditwrthy wrote:You are missing the point.
I don't have a car, nor do I have an auto insurance policy as I do not own a vehicle.
Auto Rental Collision Damage Waiver insurance is secondary insurance, ONLY if you have an auto policy.
Since I do not have an auto policy and am smart enough not to purchase the insurance offered by the rental company, the ARCDW insurance becomes my primary insurance assuming I use my Visa(it's in the cardmember agreement I think- covers up to $50k - I use my Chase Freedom). Also, Mastercard, Discover, and Amex all offer this type of insurance assuming you use them as the method of payment.
In your case, you had an actual auto policy, so that defaulted as your primary insurance, causing the ARCDW to be secondary, meaning it would cover damages outside of your limits of your auto policy, but not be able to be used as your primary insurance.
does that make sense? lol
No I understand what you were saying, didn't miss the point... I think you REALLY need to call and talk to someone or Chase again... I called my insurance agent just to be sure... BUT the $50k that you are speaking of I believe would be accident dealth... it's like when you fly!! and yes if you have insurance then you can decline taking the hertz insurance (we will say for now since you used that name) and your insurance would pay anythiny that was damaged then visa (in this case you said visa) would kick in and pay UPTO $1000 deductible. As someone with no car and no insurance you would be required to take the hertz insurance because visa is not going to pay for 2 cars and medical bills if you decline all insurance coverage....
Anyone actually an agent that can come in and make a non official statement on what you would do if renting a car