Store credit cards traditionally have lower entry requirements than other types of credit cards, a feature that makes them perfect entry points for people that want to build their credit. Sam's Club allows people to upgrade from the store card to the Sam's Club Mastercard. Although the rates can be high, the rewards make up for it if you use the card correctly. Before you sign up, make sure you can make efficient use of the card. Unless you tend to buy a lot of gas or dine out often, the rewards scheme might not be the best fit for you. We've sat down and scoured through all the information we could about the Sam's Club Credit Cards to provide you with the best possible overview of whether this card works for you.
Sam's Club was formed in 1983 as a way to bring wholesale prices to everyday consumers. The company is a division of Walmart Inc, headquartered in Bentonville, Arkansas. In order to have a Sam’s Club credit card, you have to be a member and that comes with an annual membership fee. After that, you’ll have access to wholesale products for the home at great prices that only Walmart-affiliated stores could offer. There are four credit cards available from the company: Sam’s Club credit card, Sam’s Club Business credit card, Sam’s Club Mastercard, and, you guessed it, Sam’s Club Business Mastercard. Each store card shares similarities with its matching Mastercard, but with one major difference, the Mastercard can be used anywhere.
In addition to the fundamental difference between a Mastercard and a store card, the Mastercard version of the Sam’s Club credit card also allows you to collect a percentage of your purchases back in the form of cashback reward tiers. The store card is different because it is a no frills card. Simply put, its goal is to allow you to make purchases at Sam’s Club today and pay them back later. Beyond that, it has no major perks, provided that you don’t think doubling as your membership card is a major perk. In both cases, the business card is geared more toward the typical business consumer. The Business Mastercard does this by offering incentives on business class purchases and identity protection. The Sam’s Club Business credit card is identical to the other store card but offers fraud liability protection, enhanced security, and advanced online account management tools.
If you’re in the market for a new credit card, something in the Sam’s Club family could be a good fit for you. To identify which card might be best for you, ask yourself these questions:
- Are you a Sam’s Club member or interested in buying wholesale items at a value? If you have an existing wholesale membership somewhere else, or don’t need wholesale items don’t apply.
- How much do you spend on dining and gas? A higher spend in these categories may make you a good fit for the Mastercard that offers cashback rewards for bigger spenders.
- Do you spend on business purchases? A yes on this question might mean that one of the business cards is a better fit.
If you answered yes to any of the above questions, a Sam’s Club credit card might be just what you've been looking for. Sam’s Club is a highly regarded and reputable option for those looking to make wholesale purchases, and a Sam’s Club credit card could be a good choice for credit building purchases.