Just imagine this scenario:
You rent a car from ABC Rental Company,
ABC Rental Co. places a “HOLD” on your credit card for the total rental amount,
You forget that your credit card is close to its limits because you have not paid it,
You take the rental car,
ABC Rental Co. tries to process your payment but it states “DECLINED”,
ABC Rental Co. then reports the car you rented as “Stolen” to the local law enforcement,
Arrest Warrant with your name gets issued.
This actually happens a lot. In fact, some rental car companies file over 3,000 police reports every year charging their customers with car theft after they rented its cars.
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