To Rent or Not
This is not a repo story, but it is directly related to daily car rental. The difference between debit and credit cards. For many Car Rental employees, this is the bane of their existence. Why? Because of the strife that comes from stupid people with their debit cards. Background In car rental, most rental agencies require a renter to provide a Driver's License and a form of payment in order to rent. The Driver's License is obvious - the law in all 50 states requires a driver to be licensed. The preferred form of payment for most rental agencies is a credit card. Some 20 years ago or so, when many banks started issuing check cards with the VISA or Mastercard logo on it, a new problem arose. The Reason The reasons for a car rental agency to use a credit card are numerous: :Liquid" funds - when the rental needs to be extended, a credit card can be run again. Cash would simply run out. A person with good credit is far less likely to wreck a rental car. A person with...