by Matt Frankel, CFP | March 18, 2019
The Sam's Club credit card, which is issued by Synchrony Financial, comes in two varieties. There's the Sam's Club Credit Card, which can only be used for purchases at Sam's Club and Walmart, and there's also the Sam's Club Mastercard, which can be used everywhere Mastercard is accepted and comes with some unique perks.
While both Sam's Club credit card products certainly have valuable perks, there are some potential drawbacks that should be taken into account before signing up.
First, here are the benefits that apply to both versions of the Sam's Club credit cards:
In addition to the above-mentioned perks, the Sam's Club Mastercard offers some additional benefits:
Like most financial products, there are some negative aspects to the Sam's Club credit cards as well. Here are a few of the reasons consumers might want to look elsewhere.
I typically wrap up these types of reviews by saying that the card is a good choice for people who frequently shop at that store -- but that isn't really the case here. There isn't any unique benefit for using the credit card at Sam's Club, other than the 5% rewards rate for when you fill your tank up on the way home.
As far as the Sam's Club Credit Card (non-Mastercard) goes, I can't fathom a reason to apply for it as opposed to the Mastercard version, as there are literally no unique benefits to it.
Having said that, the Sam's Club Mastercard could be a good credit card for people who are already members of Sam's Club. With no annual fee and excellent everyday rewards rates on gas, dining, and travel, the card could definitely be a good choice.
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.
But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases into 2022, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.
That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.
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