Sams Club Mastercard Review

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.

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Card Type:

Credit Card

Annual fee:

$45 (membership fee)

What is the Sam’s Club Mastercard?

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.

The major difference between these cards is that the Sam’s Club Mastercard gives you cash back rewards in the form of rewards, but not true cash. On the other hand, the Sam’s Club store card does not offer cash back rewards. Below is a breakdown of the major benefits of the Sam’s Club Mastercard.

Get $55 as a statement credit when you open a new account and spend $55 online today* Offer ends Jan 15, 2020

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.

Sam’s Club Mastercard Rewards and Cash Back

The major difference between the Sam’s Club Mastercard and the Sam’s Club store card is that only Mastercard gives you cash back rewards. But you’ll want to keep in mind that there rewards are not provided in the way of true cash. In other words, you won’t see money being distributed back into your account. That doesn’t mean that you won’t get rewards, though!

Here is a list of the benefits you’ll get with the Sam’s Club Mastercard:

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

Keep in mind that you have to use your Mastercard to pay for these items to get these rewards. You cannot use any other card. However, you can use your Sam’s Club Mastercard wherever Mastercard is accepted to get these rewards. On the other hand, the Sam’s Club store card does not offer rewards or benefits. Also, the store card can only be used at Sam’s Club or Walmart.

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.

Sam’s Club Mastercard Fees

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).

Here are some fees associated with the Sams Club Mastercard that you should be aware of:

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)

Keep in mind that the Sams Club Mastercard is a credit card. This means that many of your fees and terms are based on your credit score and credit history. You’ll need to have fair credit to apply for a Sams Club Mastercard. Keep in mind that late payments will negatively affect your credit score. If you do the majority of your shopping at Walmart and Sam’s Club, then the Sams Club Mastercard would be a great card for you. Just be sure to make all payments on time to avoid late fees and negative items on your credit report.

Sam’s Club Mastercard Additional Information

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.

Here are some additional features that you can enjoy when you sign up for a Sams Club Mastercard:

$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

How Does The Sams Club Mastercard Work?

The Sams Club Mastercard allows you to earn cash back rewards every time you use it. We recommend using it every time you buy something at Walmart or Sam’s Club. You can also use the Sams Club Mastercard anywhere Mastercard is accepted. You’ll get 5% cash back when you spend $6,000 on gas each year. After that, you’ll get 1% cash back. So use it every time you fill up, too. When you use your Sam’s Club Mastercard to pay for travel and dining, you’ll get 3% cash back. All other purchases will earn you 1% cash back. You won’t be able to redeem your rewards for cash back. But you’ll be rewarded with statement credit that can be applied to your balance. You can receive your credit in the form of a check that can be redeemed at any Sams Club location. This check will be mailed to you once per year and must be cashed within 180 of receiving it. Remember that your savings will cap at $5,000 per year, but this is more than enough for the average spender. You would have to spend over $150,000 per year at Sams Club for this to be a problem. You can also use your card at any location that accepts Mastercard to help boost your cash back rewards.

Here is what we like and don’t like about the Sam’s Club Mastercard:

Sams Club Mastercard PROS

There are no annual fees associated with the Sams Club Mastercard
You can use your Sams Club Mastercard anywhere that Mastercard is accepted, not just at Walmart and Sam’s Club
You’ll get 5% cash back on eligible gas worldwide, including gas at Sam's Club (on the first $6,000 per year, then 1% after)
You’ll get 3% cash back rewards on dining and travel expenses
The Sams Club Mastercard doubles as your membership card so you don’t need to carry around two cards
You’ll earn as much as $5,000 per year in savings
The Sams Club Mastercard has higher than average cash back rates compared to other cards, especially the Sam’s Club store card
The Sams Club Mastercard provides 1% cash back rewards on purchases other than travel, gas, and dining.
APR is affordable at 17.15% or 25.15%, depending on the applicant’s creditworthiness

Sams Club Mastercard CONS

You must be a Sam’s Club member to get the card, but this is very affordable. A yearly membership is currently $45
You won’t receive cash back in the form of cash. Instead, you’ll get statement credit applied to your account that can be used in store at Sam’s Club
You’ll need good credit to apply, but this is standard of most credit cards. The better your credit score is, the better your terms and conditions will be
You’ll pay up to $38 for late fees. There are also cash advance APR and rates to be aware of, but this is standard of most credit cards. On the other hand, the Sam’s Club store card doesn’t offer these options.

Conclusion

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.