Rental Car CC Deposit

[Anonymous]

I have to rent a car this Sat the 12th, which happens to be the same day that my CCC typically reports to the CRA's. I have to use my card for a $250 deposit, which im told is not going to be charged, just a hold put on for that amount. I then plan on paying in cash when i drop it off. So my question is: if CreditOne reports to the CRA's when the hold is placed on my card, will they report as a $250 balance? This is my only card, and i need to keep my util to a minimum, and 250 is my credit limit, so i dont want it to look like my card is maxed out. If anybody knows the answer to this, please let me know, thanks

[MidnightVoice]

If I remember, it is a "hold" or "aithorization, so it taken from your available credit but not from yopur account.  But if it is 100% of your limit, that might not be good -

[Anonymous]

As long as the $250 doesn't "post" to your account you should be fine. The CCC will report your balance and credit limit, not holds. Be careful though, I rented a car the other month and used a CC for the hold, but when I returned it,  the person who takes your keys handed me a receipt with the car rental charged to the same card with the hold.  I wanted to pay cash for the rental and just use my card for the hold. 

[Watchmann]

Don't let the CC run your life.  They are there for your convenience, not to have them control your spending needs.  That's just my opinion.  Before all this intense FICO nonsense people used the cards as needed, and paid off the balances before they were due.  They didn't worry about utilizations, FICO scores, etc.

[WhirledPeasPlease]

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Watchmann wrote:

Don't let the CC run your life.  They are there for your convenience, not to have them control your spending needs.  That's just my opinion.  Before all this intense FICO nonsense people used the cards as needed, and paid off the balances before they were due.  They didn't worry about utilizations, FICO scores, etc.

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We did?  Gee, I sure didn't. 

[Watchmann]

Maybe you didn't.  But I did control my self with credit cards over the last 35 years.  I was never late, no charge offs, no problems.  I only charge what I can afford.  Deep down, I think many of the people here who go ever and ever higher on Credit Line approvals think that those CL's represent some sort of income to be tapped.  It's like increased equity in a home, it makes them feel richer.

[Anonymous]

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@Watchmann wrote:

Maybe you didn't.  But I did control my self with credit cards over the last 35 years.  I was never late, no charge offs, no problems.  I only charge what I can afford.  Deep down, I think many of the people here who go ever and ever higher on Credit Line approvals think that those CL's represent some sort of income to be tapped.  It's like increased equity in a home, it makes them feel richer.

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Watchmann, if you are so perfect credit-wise WHY ARE YOU ON THIS FORUM? I mean, if you are so against people worrying about their FICO score and you have led such a sanctimonious credit life....why are you here?

Jeez, go tell it on the mountain!

I forgot to add...please stop speaking for "everyone". speak for yourself.

Now go swipe that perfect little Amex of yours where the sun don't shine!



Message Edited by Jubeyy on 07-08-2008 01:56 AM

Message Edited by Jubeyy on 07-08-2008 01:58 AM

[haulingthescoreup]

Time for this thread to cool down.

It has moved far, far away from OP's original topic, so it is now locked.

photobywes, I hope that you got the answers that you need. If not, please start another thread. That tight timing would make me nervous as well!