By: Heather Hanks Jul. 31, 2019
If you’re a Sams Club member, then you probably like to save money. Most people with families know that buying in bulk tends to be cheaper. Sam’s Club allows you to take your savings a step further by offering a store card. But if you’re truly set on saving as much as you can, then you should consider the Sams Club Mastercard. The Sams Club Mastercard is accepted anywhere Mastercard is accepted.
On the other hand, a Sam’s Club store card can only be used at Sam’s Club. You’ll also earn numerous cash back rewards when you use your Sam’s Club Mastercard. There is no annual fee for either card as long as you are a Sam’s Club member. But is the Sams Club Mastercard worth it? Take a look at our Sam’s Club Mastercard review here.
Sam’s Club is a wholesale retail warehouse that offers discounted bulk items and various other services. The company is owned and operated by Walmart. Shoppers must be a Sam’s Club member to shop there. As of 2019, the annual fee for a Sam’s Club membership is $45. This is slightly cheaper than a Costco membership, which is another bulk retail company that requires a yearly fee. Members who pay this fee feel that the discounts offered by shopping in bulk are worth it.
You can take your savings one step further by signing up for a Sam’s Club card. If you’re interested in a Sam’s Club card, then you have two options: the Sam’s Club store card and the Sam’s Club Mastercard. Both cards will likely help you save at Sam’s Club, but the Sam’s Club Mastercard can do so much more. Neither card has an annual fee as long as you are already a Sam’s Club member, but both cards will charge you $38 for late fees. Both cards are provided by Schronchy Bank.
Offer subject to credit approval. Offer valid through Jan 15, 2020. To qualify, you must (i) open either a Sam's Club® Consumer Mastercard® or Sam's Club Personal Credit account and (ii) make a purchase of $55 or more the same day you open your account via SamsClub.com or the Sam’s Club app (excluding cash advances, gift card sales, alcohol, tobacco and pharmacy purchases). A $55 credit to the account will appear within 90 days after the qualifying purchase is made. Offer is valid for newly opened accounts only and each account is eligible for only one $55 offer.
5% cash back on gas on up to $6,000 per year; after that, you get 1% cash back for gas
3% cash back on dining and travel
1% cash back on other purchases at Sam's Club and wherever Mastercard is accepted
We should note that both the Sam’s Club store card and the Mastercard double as your membership card. This means you won’t have to remember to bring two cards with you when you shop at Sam’s Club or Walmart. Also, both cards offer access to up to $100 in cash at any Sam’s Club or Walmart register. Neither card has an annual fee, but you will still need to pay your annual Sam’s Club membership fee. Finally, both cards allow you to check your online status anytime. It should be noted that the maximum amount of money that you can save by using your Sam’s Club Mastercard is $5,000.
The good news is the Sam’s Club Mastercard does not have an annual fee. Neither does the Sam’s Club store card. But you’ll need to be a Sam’s Club member to be eligible for either. The current annual fee for a Sam’s Club membership is $45. This price is lower than Costco. Aside from no membership fees, the Sam’s Club Mastercard has no foreign transaction fee (neither does the store card).
Late fees up to $38
APR is between 17.15% or 25.15% depending on how good your credit is
Cash advance APR is 22.15% or 28.15% variable
Cash advance fee is $5 or 3% (whichever is more)
Your account must be in good standing to cash in on the cash back benefits. This means that you must currently use your card and make timely payments. If your account is more than two months delinquent on your minimum payment, then you may be denied rewards. We also recommend setting your calendar to February of the following year. That’s when the cash back rewards are issued and loaded onto your membership.
$0 fraud liability (you won’t be held responsible for fraudulent charges on your card)
Your card comes with smart chip technology to prevent theft and promote security
Your Mastercard comes with theft protection services that the store card does not
The above review of the Sams Club Mastercard is based on the opinion of Creditnervana. The Sams Club Mastercard is a great option if you’re a frequent Sam’ Club shopper. There are no annual fees and you’ll earn better rewards than the Sam’s Club store card alone. We like that you can use your Sam’s Club Mastercard at any location that accepts Mastercard. It’s a great way to rack up the cash back rewards, which are higher than normal compared to competing cards.
Keep in mind that you have to be a Sams Club member to apply. Your cash back does not come back to you in the form of cash. You’ll be mailed a check once per year based on your savings. Savings can reach as high as $5,000 per year. Your check can only be used in store at a Sams Club location. You’ll get 5% cash back on gas for the first $6,000 and then 1% after that. You’ll also get 3% for travel and dining, and 1% on all other purchases.
CreditNervana promises to keep our information as accurate and up-to-date as possible. However, you should always consult a financial advisor for specific questions about personal or business finances and investment opportunities, especially if you are looking in your area. Working with a trained professional who is familiar with your case is a safe and guaranteed way to make the best investment decision possible. Please review our terms and conditions before making any decision based on the information we provide. Financial institutions are constantly changing. Because of this, it’s a good idea to cross check the information you read here with any company you are considering working with.
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