Sam's Club offers consumer and business credit cards to their members. These cards are a great way to save money and earn cash back on everyday purchases.
Consumer Credit Cards
Sam's Club has two consumer credit cards for shoppers to choose from.
Sam's Club MasterCard
The Sam's Club MasterCard enables cardholders to earn a $45 statement credit when they spend $100 on the same day the account is opened. You can also earn the following:
5 percent cash back on gas purchases made at Sam's Club locations
3 percent cash back on dining and travel purchases
1 percent cash back on all other purchases
A recent review from NerdWallet highlighted the attractiveness of the cash back rewards program. "Even though you're limited to $5,000 in cash back rewards earnings per year, you're getting an above-average return on a diverse range of spending categories," the article said.
Cardholders also have access to identity theft resolution and price protection services. Best of all, this card can be used wherever MasterCard is accepted. There is no annual fee, and the variable APR is either 15.15 or 23.15 percent, depending on your creditworthiness.
The only major drawback of this card is the way in which cash back earnings are redeemed. Each February, you will receive a check that must be cashed at a Sam's Club store, notes Magnify Money.
Sam's Club Credit Card
The Sam's Club Credit Card also offers the $45 statement credit to new account holders when they spend $100 or more on the date of approval. Cardholders also enjoy no annual fee as long as the card is open.
Unfortunately, this card does not have a rewards program and can only be used at Sam's Club and Walmart locations nationwide since it is a store branded card. In addition, it is accompanied by a hefty variable APR of 23.15 percent. Several reviewers from Credit Karma also noted recurring issues with identity theft.
Business Credit Cards
There are also two credit card options available for business owners.
Sam's Club Business MasterCard
The Sam's Club Business MasterCard offers many of the same perks as the consumer version. Cardholders earn 5 percent cash back on gasoline purchases and 3 percent on dining and travel expenditures. All other purchases earn 1 percent cash back. You will also have access to itemized billing statements, MasterRental, Purchase Assurance, and Extended Warranty benefits.
This card is accompanied by a variable APR of 15.15 or 23.15 percent, depending on creditworthiness, and there is no annual fee.
While the card offers an impressive cash back program, reviewers from CardHub mentioned the delayed issuance of checks from cash back earnings, unprofessional customer services, and problems accessing itemized statements online.
Sam's Club Business Credit Card
The Sam's Club Business Credit Card is a store branded card that can be used at Sam's Club and Walmart locations nationwide. Although it has no annual fee and offers access to itemized billing statements, the card comes with an exorbitant variable APR of 23.15 percent. In addition to problems with online statement access, current account holders noted the delayed posting of transactions, which led to issues at checkout, on several CardHub reviews.
How to Apply
To apply for a Sam's Club consumer or business credit card, visit their website and create a member profile. Upon completion, you will be able to submit an online application. You can also call 1-888-746-7726 to learn more or speak with a customer service representative.
An Important Consideration
Before applying for a Sam's Club personal or business credit card, conduct a cost-benefit analysis to confirm the product will be a good fit. Also, carefully review the terms and conditions so you'll know what to expect once the card is in use and statements start rolling in.