THE SAM’S CLUB CREDIT CARD GUIDE: HOW IT WORKS, BENEFITS AND REWARDS

SAM'S CLUB CREDIT CARD

Sam’s Club as a retail warehouse club is a division of Walmart Stores Inc. (NYSE: WMT) that was opened in the year 1983 in Oklahoma.

The Club spread across the United States and Puerto Rico as of January 2019 with its three membership programs which include: Sam’s Savings, Sam’s Business, and Sam’s Plus.

How Sam’s Club Credit Card Works

In order to ease the purchases by customers, Sam’s Club offers them four different credit cards. These cards offer is to accommodate both individuals and business members.

The cards can be used at either Sam’s Club or Walmart location as well as online. There are annual free and can be used as a membership card.

Mastercard credit card is also offered to serve both individual and business members. The card also has some benefits like others.

Additionally, it can be used anywhere Mastercard is accepted and can give users price protection for over 60days and identity theft resolution services. Both card type offered is managed by Synchrony Financial.

What you need to do to become a member of Sam’s Club credit card owner. Sign up for any of the three membership options.

For Sam’s Savings annual fee is $45. Businesses are advised to join Sam’s Business card that permit up to eight cards for employees. The Sam’s Plus card has the most benefits for members with an annual fee of $100.

As soon as their membership is reached, they can apply for a credit card in-store or online and ensure their personal details are recorded for approval after a credit check.

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Sam’s Club Rewards and Benefits

Applicants who apply for the non-business consumer credit card options with a single receipt purchase of $45 at the opening of the account are eligible for a $45 statement credit, valid through June 15, 2020 (as of July 17, 2019).

Aside from $45 statement credit, there exist no other benefits or rewards using an in-club credit card. The Sam’s Club Mastercard credit cards offer the 5-3-1 deal.

Membership, Card, Credit, Plastic

Cardholders can get up to 5% back from gas purchases made at Sam’s Club for up to $6,000 spent, then 1% after. Also 3% cash back on dining and travel and 1% cashback on all other purchases.

There are additional rewards and benefits for Cardholders who upgraded their membership to Sam’s Plus for an additional $100.

Sam’s Plus members have access to early shopping hours, the Extra Value Drug List, Optical Plus member benefits, add-on memberships, and an extra protection service plan.

The major benefit is the cash rewards program, which gives members $10 for every $500 spent in qualifying purchases, up to $500 annually. These rewards can be used toward purchases or membership fees or be redeemed for cash.

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The Most Beneficiary of Sam’s Club Card?

Cardholders of Sam’s Club seeking a credit card to use in the store stand chances of benefiting from using one of the Sam’s Club credit cards. However, members would benefit more by specifically applying to one of the Sam’s Club Mastercard credit cards.

The benefits of gas, dining, travel and other purchases could result in a fair amount of cashback to the member when used. To fully tap the benefits, members should get both the Sam’s Club MasterCard and the Sam’s Plus membership.

Alternatives

Costco Wholesale Corp. (NASDAQ: COST) is the largest competitor to Sam’s Club. Costco offers its own credit card to its members, called the Costco Anywhere Visa Card by Citi.

The card gives members 4% cash back on gas, 3% cashback on restaurants and travel, 2% cashback on all Costco purchases and 1% cashback on all other purchases.

Another wholesale club chain is BJ’s Wholesale Club Inc., which also offers credit cards to its members.

The BJ’s Perks Elite card gives its members savings of 10 cents off per gallon on BJ’s gas, 5% back on most in-club purchases, 2% back on dining out and non-BJ’s gas, and 1% on all other purchases.

Wrapping up

The Sam’s Club credit card and the Sam’s Club Mastercard have an APR of 15.65% – 23.65% and 23.65%, depending on the applicant’s creditworthiness.

Upon approval, applicants may get the $45 statement credit if a single-receipt purchase of $45 is made the same day.

Cash advances, gift card sales, alcohol, tobacco and pharmacy purchases are excluded as part of the $45 total purchase. The $45 credit appears within one to two billing cycles.

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