If you hope to rent a car, the best thing to do is check your credit score to ensure you will be eligible for the best rates. Most people ask, “What credit score do you need to rent a car?” You can get credit repair and restoration at Coulter Credit. Ask for help from our repair specialists.
Do they check your credit to rent a car? While car rental agencies are not required to publicize their minimum credit score requirement, potential renters need to know that such a requirement exists.
What credit score do you need to rent a car? A low credit score will most likely require you to pay higher rates, or it may even result in denial of the rental agreement. The agency’s minimum credit score varies; some agencies request a score of 700 or higher, while others may require a score of 550 or higher. However, the average credit score required by agencies is 650. Therefore, if your credit score is below 650, you may want to consider other options for renting a car.
If your credit score exceeds 650 points, you should have no problem renting a car from most agencies. Those with a score below this may still be able to rent a car, but they may be required to provide a larger security deposit. In addition, those with poor credit may need to pay higher rates. Maintaining a good credit score to receive the best rates and terms is always best.
Car Rental Impact on Your Credit Score
An agency could put a hard inquiry on your credit report if they run your credit score. This is not a good thing; hard inquiries might harm your credit scores by a few points. Fortunately, they usually stay on your credit reports for about two years, and the main impact of a hard inquiry begins to dissipate within a few months.
If you’re concerned about how a hard inquiry might impact your credit, you can check your credit report and scores for free on Credit Karma. You can also view your hard inquiry history to see how many inquiries are on your account. Some credit scoring models ignore inquiries over 12 months old, so the impact of a single inquiry may not have as much of an effect on your score after a year has passed.
Do All Car Rentals Require A Credit Check?
When renting a car, most companies will require a credit check to verify your identity and ensure that you can make payments. Do they run a credit check to run a car? Often yes, but there are some exceptions to this rule. For example, some companies allow customers to rent cars using cash or debit cards. Do you need good credit to rent a car? Not always. Some companies offer short-term rentals that do not require a credit check. If you plan to lease a vehicle, ask about the company’s policy on credit checks. That way, you can be prepared to provide the necessary information when you arrive at the rental counter.
If you wonder what credit score you need to rent a car or how you can fix and improve your credit score, work with Coulter Credit to get started in repairing your credit score. Take steps to steadily improve your credit score and schedule a free consultation today!