In This Review..
Sam’s Club is owned by Walmart and offers the Sam’s Club Mastercard – their store cashback card with a few different ways to earn rewards.
The Sam’s Club Mastercard is a great card for Sam’s Club shoppers. It has very competitive cashback rewards and benefits in some spending categories.
Sam’s Club Mastercard has 5% cash back on gas purchases up to $6,000 in purchases a year, and then 1% after that. It also has 3% cash back for any spending on restaurants and travel and % cash back on all other spendings with no limit. The rewards categories do not change and are great for those who spend a lot on gas and traveling and who are Sam’s Club members.
Rewards Plan
Sign up Bonus
0% Intro
PROS
- Cash Back on Gas, Restaurants and Travel & Other Spending
- No Foreign Transaction Fee
CONS
- No 0% APR Introductory Rate
- Low Merchandise Rewards
APR
14.90% - 22.90%
Annual Fee
None ($55 yearly memebership fee)
Balance Transfer Fee
Unknown
Credit Requirements
Good - Excellent
The card does not have a foreign transaction fee or annual fee as long as you are a Sam’s Club member (Membership starts at $45 a year). This card can be used anywhere Mastercard is accepted, not just at Sam’s Club.
If you are not a Sam’s Club member, you would want to pass on this card. There are better cashback cards.
Card & Issuer Reputation
- 3.9/5 on WalletHub customer reviews (+200 reviews): WalletHub customer reviews allow customers to post positive, negative or neutral reviews about marketplace experiences.
- 800/1000 on J.D Power: Synchrony Bank, the issuer of Sam's club card, got 800 out of 1000 available points on J.D. Power credit card satisfaction survey, lower than industry average. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.
Benefits
Let’s take a look at the benefits of the Sam’s Club Mastercard and see if it’s the right one for your wallet or not.
- 5% Cash Back on Gas, 3% on Restaurants, Travel & Other Spending
Sam’s Club Mastercard has 5% cash back on gas purchases up to $6,000 in purchases a year, and then 1% after that. It also has 3% cash back for any spending on restaurants.
It also has 3% cash back on eligible travel, which includes airfare, hotels, cruises, and car rentals. Both spending categories do not have a spending limit. Lastly, you can get 1% cash back on all other spendings with no limit.
- Earn More Rewards
If you get the higher tier membership you can earn more rewards like free shipping and an additional $10 cash back on every $500 spent on qualifying purchases.
- No Annual Fee
Sam’s Club Mastercard does not have an annual fee as long as you are a Sam’s Club member.. Membership starts at $45 a year.
You can start earning cash back immediately.
- No Foreign Transaction Fee
Sam’s Club Mastercard does not have a foreign transaction fee. This is unusual for a non-travel rewards card.
This is a great perk because you can earn cash back on your travel expenses.
- Other Benefits
Sam’s Club Mastercard offers cardholders extended purchase warranty protection and identity theft protection.
The credit card also acts as your membership card, so you will only need one card.
Drawbacks
Here are the most important cons you should consider before applying:
- Redemption Restrictions
Sam’s Club Mastercard cashback can only be redeemed or spent at Sam’s Club. This redemption also only happens once a year in February. With other cards you can redeem rewards almost anytime.
- Rewards Cap
There is a $5,000 dollar cap on the Sam’s Club Mastercard. Your rewards can not surpass $5,000.
That is a very large threshold for many households but some consumers may spend that much and will find better rewards through other cards.
- High APR
The APR for the Sam’s Club Mastercard is a 16.40% to 24.40% variable rate, which is high for a card that requires borrowers with good to excellent credit histories.
- No 0% APR Introductory Rate
Sam’s Club Mastercard doesn't offer 0% APR introductory as many other cards, so if you plan a big purchase or you carry debt, it's not the right card for you.
- There are Better Cashback Cards
There are other cashback cards in the market that offer higher cashback rewards. Some have rotating categories, but depending on your spending habits and with a little planning, you can earn more cash back on your purchases.
If you are a big spender and don’t mind an annual fee, there are other cards with higher cashback rewards, but not by much. Also, there are store cards that offer much better rewards when shopping at the store where the card was issued. Sam’s Club Mastercard only offers 1% back on spending at their store.
Alternatives
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Sam’s Club Mastercard:
- Capital One Walmart Credit Card
Capital One Walmart Credit Card is one of the credit cards on the market that is a store card that allows borrowers who do not have perfect credit to apply and be approved.
The Walmart Credit Card earns 5% cash back at Walmart.com and Walmart app. This includes orders made online and products picked up at local stores. Also, the card earns 2% cash back on Walmart stores,restaurants & travel and gas. This must be at Walmart or Murphy USA gas stations.
The Walmart Credit Card also earns 1% on all spending at everywhere else where Mastercards acceptedAlso, as part of an Introductory offer for new cardholders, you earn 5% back in Walmart stores for the first 12 months when you use your Capital One® Walmart Rewards™ Card with Walmart Pay.
The card has no annual fee and the fact that average credit is also accepted, it can be good for those who want to build or rebuild their credit.
- Bank of America Cash Rewards Card
Bank of America Cash Rewards is a cashback rewards card that allows card holders to pick their own bonus category for the 3% cashback rewards. It also offer 2% back on groceries and 1% back on all other spending.
Bank of America Cash Rewards does not have an annual fee and you'll get $200 cashback bonus after you spend $1,000 on your new card within the first 90 days on eligible purchases. If you are looking to save money on interest, the Bank of America Cash Rewards offers a 0% introductory rate for 15 months on balance transfers. However, there is a 3% balance transfer fee required if you want to take advantage of the introductory 0% APR rate.
The APR for the Bank of America Cash Reward is a 13.99%-23.99% variable rate.
- Costco Anywhere Visa Card
Costco Anywhere Visa Card by Citi is a store credit card that offers many ways to earn cash back. This card can be used anywhere Visa is accepted, not just at Costco.
The Costco Anywhere Visa Card offers 4% on eligible gas, including gas at Costco for the first $7,000 per year and then 1% thereafter. You'll also earn 3% on restaurants and eligible travel, 2% on all other purchases from Costco and 1% on all other purchases.
The Costco Anywhere Visa Card does not have an annual fee as long as you are a Costco member (Costco membership starts at $60 a year).
If you are a big spender and don’t mind an annual fee, there are other cards with higher cashback rewards, but not my much. If you're a fan of Costco – it may be the best card for you.
Bottom Line
The Sam’s Club Mastercard is a great card for Sam’s Club shoppers. It has very competitive cashback rewards and benefits in some spending categories. Cardholders that spend a lot on gas each year will benefit the most from this card. This card is also great for those who do a lot of traveling.
The 3% cash back on travel rewards is better than most travel rewards credit cards on the market. The biggest drawback to the Sam’s Club Mastercard is you have to wait a year for your cash back, and it can only be redeemed at Sam’s Club.
If you are not a Sam’s Club member, you would want to pass on this card. There are better cashback cards. Sam’s Club Mastercard rewards are straightforward and easy to understand and most Sam’s Club members would benefit by owning this card.
