Do they really credit check when renting with a debit card?
In Budget's policy it says that a credit check will be performed if renting with a debit card, my questions are:
Do they really ALWAYS do a credit check when renting with a debit card? AND What are the qualifications to pass their credit check? Thanks |
Yes, always
No idea Although as of last week it is no longer a hard pull on your credit report. |
I think what they mean is that they will take an authorisation on your card. They do not do a 'credit check' that impedes your credit score if that is what you mean.
Some debit cards have a hold policy in that they authorise an amount without directly affecting your bank balance whereas some cards immediately withdraw from your account. |
Originally Posted by Guy Betsy
(Post 18189660)
I think what they mean is that they will take an authorisation on your card. They do not do a 'credit check' that impedes your credit score if that is what you mean.
Some debit cards have a hold policy in that they authorise an amount without directly affecting your bank balance whereas some cards immediately withdraw from your account. Yes, they do a credit check. No, it is not the kind that impedes your credit score. And to the OP, yes, they really do, and yes, I've really seen people who were unable to rent because they didn't meet the standards. |
Originally Posted by abefroman329
(Post 18191904)
No, it is not the kind that impedes your credit score.
Like I said, up until a few weeks ago it was a hard inquiry on your equifax report. |
Originally Posted by MrAndrew
(Post 18192027)
This is true now.
Like I said, up until a few weeks ago it was a hard inquiry on your equifax report. Thanks , |
Originally Posted by William2005
(Post 18261051)
I am curious does anyone know why it changed? Was it a new law? Did the change apply to all 3 credit bureaus?
Thanks , As far as I know, Avis didn't want to submit a hard pull, but Equifax required one. Avis finally won the argument. |
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