Should You Get the Sam’s Club Credit Card?
As a popular wholesale warehouse club, Sam’s Club offers two different types of credit cards to members: the Sam’s Club Mastercard and the Sam’s Club Store credit card. When you use either of these credit cards, they can double as your membership card and are acceptable payment methods at all Sam’s Club and Walmart locations.
Neither card is associated with an annual fee and you can access and manage your account online, making it convenient to pay your credit card bill and review recent transactions. The main difference between the two card options is that Sam’s Club Mastercard includes a credit card rewards program while the regular credit card does not.
When choosing the best credit card for you, it’s important to review the differences between the two types of Sam’s Club cards. The regular credit card offers a 24.90% variable interest rate, depending on your credit score.
With the Mastercard, you may qualify for a 17.15% or 21.50% variable interest rate. While there are no foreign transaction fees, there is a late payment fee of up to $38 for both cards.
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When you sign up for Sam’s Club credit card or Mastercard, you gain access to a few different features, including the following:
- Use your credit card as your membership card: Both Sam’s Club credit cards can be used as your membership card so you only need to carry one card when visiting the warehouse.
- Earn rewards: With Sam’s Club Mastercard, you earn 5% cashback rewards for using your card on gas purchases for the first $6,000 per year, then 1% cashback after that. You also earn 3% on dining and travel, and 1% on all other purchases. These rewards can be used against your statement balance or to help pay for your annual warehouse membership fee.
- Manage your account online: You can create an online account and sign in on the Sam’s Club credit card website to manage your account, pay your bill, connect with customer service, and see your cash-back rewards balance.
Some of the pros of signing up for Sam’s Club credit card include the following:
- With the Mastercard, you earn cashback to help pay your statement balance or Sam’s Club annual membership fee, up to a maximum of $5,000 each year.
- You’ll have the convenience of only carrying one card, which serves as both your Sam’s Club membership card and credit card.
- You gain access to exclusive Sam’s Club promotions, such as six months of interest-free financing for certain purchases.
- There’s no annual fee or signup fee.
- You may qualify for a signup bonus that includes a $45 statement credit, available until July 15, 2020.
Sam’s Club credit card and Mastercard holders have reported some disadvantages to these cards, including the following:
- The cash rewards you earn through the Mastercard can only be used for your statement balance or Sam’s Club membership fees.
- The annual percentage rate (APR) is high and adds up fast if you don’t pay your balance off each month.
- You must be a Sam’s Club member to apply for either card.
- You can only redeem your rewards with the Sam’s Club Mastercard once per year.
- While you earn generous rewards on gas purchases, your Sam’s Club purchases and other transactions only earn you 1% cashback.
- The Sam’s Club credit card can only be used at Walmart and Sam’s Club and isn’t accepted at any other retailers.
Best Candidates for the Sam’s Club Card
You can only apply for one of these Sam’s Club credit cards if you’re a Sam’s Club member. However, that shouldn’t be your only reason for choosing one of these cards. With the Mastercard, you’ll earn more rewards on gas and dining purchases. If you don’t plan on using the card for these high-reward purchases, you may be better off looking at a different option.
Bottom line: If you’re a Sam’s Club member, can pay your balance off in full each month and are interested in a cashback card with solid gas rewards, this card is a great option for you.
You can apply for Sam’s Club credit card or Mastercard online here. To apply for a credit card, you must provide your Sam’s Club membership number and personal information. Upon approval, you’re provided with the terms and conditions of your card. Once you receive the credit card, you can use it to make purchases and manage your account online.
Sam’s Club credit card and Mastercard are only available to warehouse members. By learning more about these credit cards, you can determine if one is right for you or if you should continue searching for a card that better meets your needs.
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