SAN FRANCISCO -- Visa USA today announced it is extending collision damage waiver coverage to all Visa consumer credit cardholders. This was a benefit previously reserved only for select cards.
The move is expected to substantially decrease the car rental industry's incremental sales volume at the counter.
"Auto rental insurance is one of the most popular credit card benefits among cardholders today," said Al Banisch, senior vice president of consumer credit products at Visa USA. "As a result of these changes, an additional 75 million Visa cardholders, and more than 185 million in total, will now benefit from auto rental insurance when paying for a car rental with their Visa credit card."