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dan
Lv 5
dan asked in Business & FinanceCredit · 7 years ago

How can I accept credit cards when I rent out a bicycle?

I live in Ohio, and the city I live in has stopped subsidising the public transportation system. People have frequently offered to pay me to borrow my bicycles. So often that I have bought two bicycles for the sole purpose of renting them out. I have startedbrenting to people I don't know, and would like a conveinient way of protecting myself in the event of theft.

What credit card services would allow me to charge a security deposit that I could refund when the bike is returned? So far I haven't found anything useful on the topic. This would need to be held anywhere from one day to a few months, but should not be cost prohibitive to someone looking to rent a cheap bike as opposed to paying bus fare.

1 Answer

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  • 7 years ago

    Get a smartphone card reader and then call your bank and ask them how to do security deposits.

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