Sam's Club Credit Card Review: An Introductory Bonus for No Annual Fee
Review
Updated
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Sam's Club credit cards, issued by Synchrony Financial, come in two varieties. There's the Sam's Club Credit Card, which can only be used for purchases at Sam's Club and Walmart. Then there's the Sam's Club Mastercard, which can be used everywhere Mastercard is accepted and comes with cash back rewards. Read our Sam's Club Credit Card review to see if either card is for you.
We recommend comparing options to ensure the card you're selecting is the best fit for you. To make your search easier, here's a short list of standout credit cards.
| Offer | Our Rating | Welcome Offer | Rewards Program | APR | Learn More |
|---|---|---|---|---|---|
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Rating image, 4.50 out of 5 stars.
4.50/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
Discover will match all the cash back you’ve earned at the end of your first year. | 1% - 5% Cashback Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases. |
Intro: Purchases: 0%, 15 months Balance Transfers: 0%, 15 months Regular: 18.24% - 27.24% Variable APR |
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Rating image, 5.00 out of 5 stars.
5.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
$200 cash rewards Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. | 2% cash rewards Earn unlimited 2% cash rewards on purchases. |
Intro: 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers Purchases: 0% intro APR, 12 months from account opening Balance Transfers: 0% intro APR, 12 months from account opening on qualifying balance transfers Regular: 19.24%, 24.24%, or 29.24% Variable APR |
|
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
Rating image, 4.00 out of 5 stars.
4.00/5
Our ratings are based on a 5 star scale.
5 stars equals Best.
4 stars equals Excellent.
3 stars equals Good.
2 stars equals Fair.
1 star equals Poor.
We want your money to work harder for you. Which is why our ratings are biased toward offers that deliver versatility while cutting out-of-pocket costs.
= Best
= Excellent
= Good
= Fair = Poor |
25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening - that can be a $250 statement credit toward travel purchases | 1.5-3 points per dollar Earn unlimited 1.5 points per $1 spent on all purchases, with no annual fee and no foreign transaction fees, and your points don't expire as long as your account remains open. Earn 3 points per $1 spent on travel purchases booked through the Bank of America Travel Center. |
Intro: 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 18.24% - 28.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers. Balance transfers may not be used to pay any account provided by Bank of America. Purchases: 0% Intro APR for 15 billing cycles for purchases Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days Regular: 18.24% - 28.24% (Variable) |
Apply Now for Bank of America® Travel Rewards credit card
On Bank of America's Secure Website. |
The perks you receive depend on which version of the card you get. The Sam's Club Mastercard has many more perks than the regular Sam's Club Credit Card.
New cardholders receive a one-time $30 statement credit. The catch is that you only get the statement credit after you make a purchase of $30 or more with your new Sam's Club Credit Card or Sam's Club Mastercard in your first month. Think of it more as a $30 store discount than an actual cash back bonus. Regardless, this is significantly lower than the average credit card sign-up bonus, even for cards with no annual fee.
It's nice that neither the Sam's Club Credit Card nor the Sam's Club Mastercard requires an annual fee to maintain the card. This is common among store credit cards, but is still worth mentioning. Unfortunately, though the cards themselves don't have annual fees, you need a Sam's membership, which can get costly. Club memberships start at $45 a year, which, for the Sam's Club Credit Card, translates to a fairly high annual fee for a card with no perks or rewards. And the Plus membership, which you'll need to boost your rewards, costs $100.
Learn more: Best No Annual Fee Credit Cards
Cardholders don't need to carry a Sam's Club membership card, as both the Sam's Club Credit Card and the Sam's Club Mastercard serve that function.
The regular Sam's Club Credit Card doesn't earn any additional rewards. The Sam's Club Mastercard, however, has some decent cash back rewards. For one thing, you'll earn 3% back at Sam's Club, including both in-club and online purchases. If you're a Sam's Club Plus member, you'll get another 2% back on these purchases through that membership, for a total of 5% back.
Note that Sam's Club Plus members can earn up to $500 in cash back per 12-month membership period. That limit applies only to the 2% cash back rate, not the 3% offered by the Sam's Club Mastercard.
You'll earn 5% cash back on gas purchases, though this is capped at $6,000 of gas purchases per year, after which the rewards rate drops to 1%. Cardholders also earn 3% cash back on dining and takeout purchases, and 1% back on everything else. These categories aren't capped, but you can only earn up to $5,000 in total cash back per year.
As with most financial products, there are some negative attributes of the Sam's Club credit cards as well.
The interest rates can be rather high on both cards. The regular Sam's Club Credit Card has the typical high rate of a store card. The Mastercard version has an APR range that varies based on your credit, but the APR gets into the 20s if your credit score doesn't earn an interest rate from the low end of the range. These APRs aren't sky-high, per se, but are definitely high enough to warrant consideration.
The most disappointing drawback is the Sam's Club Credit Card earns no rewards at all. So many store credit cards offer some form of rewards, that the basic Sam's Club Credit Card is seriously lacking in this area.
The Sam's Club Mastercard doesn't have that problem, but it still caps the total amount of cash back you can earn in any given year. Once you've reached $5,000 in rewards in one year, you stop earning rewards altogether.
Read more: Best Store Credit Cards
While the Sam's Club Credit Card and Sam's Club Mastercard are both no-annual-fee credit cards, you still need a Sam's Club membership. This starts at $45 per year, which effectively negates most of the $30 introductory bonus right off the bat if you aren't already a Sam's Club member.
And, unless you cancel the card before your membership renews, you're charged that membership fee every year. Since both applying for and canceling a card can hurt your credit, avoid these cards if you don't plan on keeping your membership.
Compare credit card rewards, fees, APRs, and more using our side-by-side comparison tool.
Ease of approval varies based on which card you're going after. The Sam's Club Credit Card is likely easier to obtain than the Mastercard versions due to its limited utility and lack of rewards. You still probably need at least fair/average credit to qualify. The Sam's Club Mastercard likely requires good credit or better to qualify.
You can qualify for the Mastercard version and will make good use of the rewards on Sam's Club, gas, dining, and takeout purchases. The Sam's Club Mastercard is best-suited for those who want to maximize rewards on Sam's Club purchases.
The Sam's Club Credit Card doesn't have much to offer. Because it doesn't earn any rewards, it's only worth considering if you plan to use it to improve your credit score.
Keep reading: Best Credit Cards
At Motley Fool Money, we rate credit cards on a five-star scale (1 = poor, 5 = best). Our rating criteria includes rewards rates, welcome bonuses, fees, and perks like travel credits and 0% intro APR offers to evaluate our ratings.
We combine these factors with an evaluation of brand reputation and customer satisfaction to ensure you're getting the best card recommendations. Learn more about how Motley Fool Money rates credit cards.
The credit limit for the Sam's Club Credit Card typically ranges from $1,000 to $10,000, although reports indicate it's possible to get higher limits. Your credit limit on your Sam's Club Credit Card is determined by multiple factors, including your annual income and credit history.
You can use the Sam's Club Credit Card at all Sam's Club and Walmart locations nationwide. If you're approved for the Sam's Club Mastercard, it can be used anywhere Mastercard is accepted.
Yes, the Sam's Club Credit Card can build credit. Its card issuer, Synchrony Financial, reports the activity on your card to the consumer credit bureaus. If you stick to consistent credit habits, such as paying your credit card bill on time, your card activity can make your credit score go up.
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