lafairyprincess
Earning My Ears
- Joined
- Jan 11, 2010
So need some help on a security deposit situation I have. I rented a home in Windsor Hills. I placed the deposit money down to hold the home. The full amount in almost due which is no problem but I was also informed that a security deposit will also be needed. The contract states that the deposit will not be charged but that a hold will only be placed on my card and held for up to 30 days after my stay to verify that the home was left in good standing. I did see on the original contract that I would have to do a security deposit but I guess with this being my first time renting a home I thought the security deposit was the same as the hold deposite. But I am learning it is two completely different things. So here is my question or I should say questions.
1. When Does this hold actually get placed on my card. Now when I make the final payment or beginning on the first day of my stay?
2. What exactly does a hold on my CC mean? Do I actually have to have the full amount due for the deposit in my account at the time of the hold? I will be using a Bank Debit Credit Card that does have overdraft protection if that helps answer this question any better? I am afraid I may not have the whole amount in my account at the time of the hold so will the hold process through anyways because it will not be an actual charge?
Any insight on this topic would be greatly appreciated!! Thank you! I am so nervous that this security deposit thing may cause me to not be able to continue to rent the home because I just don't have the extra money in my account right now.
1. When Does this hold actually get placed on my card. Now when I make the final payment or beginning on the first day of my stay?
2. What exactly does a hold on my CC mean? Do I actually have to have the full amount due for the deposit in my account at the time of the hold? I will be using a Bank Debit Credit Card that does have overdraft protection if that helps answer this question any better? I am afraid I may not have the whole amount in my account at the time of the hold so will the hold process through anyways because it will not be an actual charge?
Any insight on this topic would be greatly appreciated!! Thank you! I am so nervous that this security deposit thing may cause me to not be able to continue to rent the home because I just don't have the extra money in my account right now.