The Grand Rental Station Discover card offered by Comenity Capital Bank is a credit card that claims to make renting things easier. So, can you just use the card to rent things, or is it a regular Discover type credit card? We’ll answer these questions and more.
Grand Rental Station Discover Card Basics
The Grand Rental Station Discover credit card could easily be mistaken for something else if not for the Discover card logo in the bottom right-hand corner of the card. Indeed, the card can be used for more than just renting things, including gas, groceries, and other types of purchases. However, as with any credit card offer, and that includes this one, it pays to read the fine print and educate yourself on exactly what this card is, what you can do with it, and to determine whether the benefits and rewards of having the card are worth fees attached to it.
A few of the benefits attached to the Grand Rental Station Discover card and include $10 off a first rental, as well as 3% earned on rentals that you obtain with the card. However, be advised of that the earnings on such rentals are remitted in the form of vouchers. Additional cardholder benefits include 2% earned on groceries and gas and 1% on other purchases. Like the rentals, earnings and rewards on such services or products are offered in vouchers.
The card offers a 0% financing and no interest charges if you pay the balance in full within six months. However, the 0% financing is offered on a minimum purchase amount of $299. After that, interest is charged based on standard variable APR. Keep in mind that the 0% financing is a negated if you don’t pay the amount in full within the predetermined promotional period, or if your payment is late. Last but not least, the Grand Rental Station Discover card offers a $5 coupon on every anniversary date and some exclusive credit card promotions.
The Comenity Capital Bank Grand Rental Station Discover card is not that common, which is why potential cardholders should carefully read the terms and conditions as well as promotional plan details that accompany the card. For example, minimum monthly payments won’t be less than $25, and minimum interest charges of $2 will be applied to your statements. The APR on the card is based on a standard variable APR and ranges between 13.99% and 19.99%, and goes even as high as 24.99% on purchases, depending on your credit history and credit worthiness.
The card comes with a 25.99% APR for cash advances and balance transfers. Penalty APRs rise as high as 29.99%. That means if you don’t make your minimum payment by the due date for three consecutive billing periods, Comenity Capital Bank will raise your APR to this 29.99%, which may remain until you’re paid up and then make six consecutive on-time payments.
The Grand Rental Station Discover card doesn’t charge an annual fee, but does charge a variety of transaction fees that include fees for balance transfers, cash advances, convenience checks and foreign transactions. Balance transfer fees are $10 or 3% of the balance transfer amount. The same goes for cash advances and convenience checks. A 3% foreign transaction fee, applied in US dollars, is applied to any out of the country purchases. Penalty fees of up to $35 are assessed for late payments or returned payments. Penalty fees generally range between $25 and $35, depending on your payment history with the bank.
Carefully read the terms and conditions attached to this card in regard to their determining an APR for the account. Grand Rental Station Discover card utilizes a three- tiered process to determine the APR that will be applied to every account, and the same applies to penalty APRs and APRs attached to a variety of transactions.
Is it a Good Deal?
The Comenity Capital Bank Grand Rental Station Discover card can be used for making purchases from a participating Grand Rental Station location or other participating retail vendors. The bank updates cardholders regarding participating vendors on their website, or cardholders may opt for e-mail or messages on their statements.
Be advised that the bank may not approve of any purchases or transactions that have anything to do with gambling, casino ATM use, and of course, illegal activities. In the event that you use convenience checks, the bank occasionally sends to you, be aware that the bank may elect not to pay on that (or those) convenience checks, depending on the status of your account and your card member agreement. Before using any convenience checks or attempting cash advances and balance transfers, it is recommended that you talk to a representative from the bank.
Cash advances from ATMs may be limited, depending on your geographical region. Limitations on cash advances from ATM machines may also be limited by the number of cash advances you request, their dollar amount, and other stipulations.
When it comes to the Grand Rental Station Discover card, it also pays to carefully read their definitions regarding default. For example, you can default under the agreement if you happen to pass away, becoming incompetent, or fail to make minimum payments due. If you default the agreement in any way, the bank reserves the right to close your account and require full payment of any balance due immediately.
Grand Rental Station locations can be found throughout the United States, and provide consumers with a variety of rentable products and services including audiovisual, construction, floor care, power tools, moving, painting, plumbing, and even party and banquet supplies. Unless you commonly rent tools and equipment, or happen to be an event planner that often requires rented furniture or banquet supplies, the card is not particularly beneficial when compared to other more well-known credit cards. The fees applied to this rental card are high, and resources may be limited in some states. Carefully check the terms and conditions, the store locations in your area, and the fees attached to this card before signing on the dotted line.