What is the Sam’s Club credit card and how does it work?

Sam’s Club is a members-only chain of retail stores. It is a division of Walmart Stores Inc. (NYSE: WMT). The first store opened in Oklahoma in 1983 and as of January 2019 there were almost 600 throughout the United States and Puerto Rico. There are three types of Sam’s Club membership programs available to the public: Sam’s Savings, Sam’s Business, and Sam’s Plus.. In this article we will explain how the sam’s club credit card works.

How does a Sam’s Club credit card work?

Sam’s Club offers four types of cards to its members. The Sam’s Club credit card can be used for purchases at the club and is offered to both individuals and businesses. Can be used at any Sam’s Club or Walmart location. There is no annual fee and the card doubles as a membership card.

Sam’s Club also offers an individual and business Mastercard credit card. This card has the same benefits as the Sam’s Club credit card but it can also be used anywhere Mastercard is accepted.

With the card, users enjoy price protection up to 60 days and theft resolution services of identity. Mastercard credit cards are managed and serviced by Synchrony Financial (NYSE: SYF).

A Sam’s Club membership is required to obtain any of these credit cards.. There are three types of membership available. The most basic option is Sam’s Savings for an annual fee of $45. Businesses can join using the Sam’s Business Card, which allows up to eight cards for employees. The Sam’s Plus Card has the most benefits for members and can be purchased by individuals or businesses for a $100 annual fee.

Once membership is obtained, customers can request Sam’s Club credit card directly in store or online. Personal information is required and approval is contingent on a credit check.

Sam’s Club Rewards and Benefits

When a client requests any of the consumer credit cards non-commercial and when they obtain it they make a purchase corresponding to a single invoice for 45 dollars on the day they open an account, are entitled to a $45 credit in the account statement, valid until June 15, 2020 (from July 17, 2019).

In addition to the $45 statement credit, the Sam’s Club credit card does not offer any benefits or rewards when used. Sam’s Club Mastercard credit cards offer the 5-3-1 deal. Cardholders can get up to 5% back on gasoline purchases made at Sam’s Club for up to $6,000 spent and then 1%. There’s also 3% cash back on dining and travel and 1% cash back on all other purchases.

Sam’s Club credit card holders can earn additional rewards and benefits by upgrading to Sam’s Plus for an additional $100.

The members of Sam’s Plus have access to advance purchase schedules, to the list of extra value drugs, to the benefits of Optical Plus members, to additional memberships and to an additional protection services plan.

However, the biggest benefit is the cash rewards program, which gives members $10 for every $500 spent on qualifying purchases. You can accumulate up to $500 per year. These rewards can be used for purchases, membership dues, or redeemed for cash.

Who benefits more from a Sam’s Club card?

Any Sam’s Club member who uses a credit card to purchase at any Sam’s Club store will benefit. However, members benefit more if they specifically request one of the Sam’s Club Mastercard credit cards.

The benefits of gas, food, travel and other purchases could result in a good amount of cash back for the member when used. To maximize all available benefits, members should getr both Sam’s Club MasterCard and Sam’s Plus membership.

other cards

Costco Wholesale Corp. (NASDAQ: COST) is the biggest competitor of Sam’s Club. Costco offers its own credit card to its members, called the Citi Costco Anywhere Visa Card. The card gives members 4% back on gas, 3% on dining and travel, 2% on all Costco purchases, and 1% on all other purchases.

Another chain of wholesale clubs is BJ’s Wholesale Club Inc., which also offers cards credit to its members. The BJ’s Perks Elite Card offers members savings of 10 cents per gallon on BJ’s gas, 5% on most club purchases, 2% on restaurants and non-BJ’s gas, and 1% on all other shopping.

the fine print

Sam’s Club credit card and the Sam’s Club Mastercard have an APR of 17.15% or 25.15%, depending on the applicant’s creditworthiness.

Upon approval, applicants can get the $45 statement credit if a $45 purchase is made on a single receipt on 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 appear within one or two billing cycles of your credit card.

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