Sam’s Club Mastercard review

Sam’s Club Mastercard review

Updated: September 7, 2021

Partner Offer

Apply now
Updated: September 7, 2021

Partner Offer

Apply now
Ratings Policy
Cash Back Rating:
2.9 rating
2.9 rating
2.9 / 5
Rewards Value:3.0
Annual Percentage Rate:3.0
Rewards Flexibility:3.0
Features:2.0

In a Nutshell:

With the exception of ample cash back at Sam’s Club gas stations, the Sam’s Club Mastercard is best reserved for making gas and dining purchases outside the warehouse club.

View similar retail rewards cards

Learn more about this card

Rewards Rate

  • 5% cash back on gas (up to first $6,000 in purchases per year, then 1%)
  • 3% cash back on dining
  • 1% cash back other purchases
  • Maximum of $5,000 cash back per year
Very Good

Account opening offer

$30 statement credit if you spend $30 in Sam’s Club purchases within 30 days of opening the account

Fair

Annual Bonus
None

Excellent

Annual Fee
No annual fee ($45 Sam’s Club membership required)

Excellent

Average Yearly Savings ($1,325 monthly spend)
$339

Very Good

APR
15.65% or 23.65% (variable)

Fair

Rewards Redemption

Pros

  • Cash back is automatically added to your Sam’s Club membership account
  • Can combine rewards with other offers
  • Access up to $100 cash at any Sam’s Club or Walmart register

Cons

  • Can only receive rewards once a year (in February)
  • Rewards can only be used for Sam’s Club expenses or statement credits unless you redeem for cash at a physical Sam’s Club location
  • Rewards expire if unused by Dec. 31 of each year
  • If your membership lapses before February, you lose your rewards
  • Maximum of $5,000 in cash back rewards per year

 

Very Good

Other Notable Features: No foreign transaction fees, special financing deals (beware deferred interest), $0 fraud liability, identity theft protection, EMV chip, doubles as your membership card

The Sam’s Club Mastercard, issued by Synchrony Bank, should be at the top of your list if you’re a frequent Sam’s Club shopper or you’re someone who commutes to work. This card offers an exemplary rewards rate on gas and dining, and it even doubles as your membership card for ultimate convenience.

However, there are several earning caps to be aware of that limit this card’s overall value. Plus, you’ll only earn a great rate on Sam’s Club purchases if you’re a Sam’s Club Plus member.

Read on to learn how the Sam’s Club Mastercard doles out rewards, where its weaknesses are and who it’s best for.

Earning rewards

The Sam’s Club Mastercard comes with some very rewarding bonus categories that can apply to almost anyone. For example, cardholders earn 5% back on up to $6,000 in gas purchases each year (then 1% back) anywhere Mastercard is accepted. If someone is able to max out this benefit with $500 in gas purchases each month, they would earn $300 in cash back in this category alone every year.

All cardholders also earn 3% back on dining purchases, including takeout.

Cardholders who are also Sam’s Club Plus Members earn 5% back total on Sam’s Club purchases (3% for paying with the card and another 2% as a Plus member), including items bought at SamsClub.com. If you’re a regular Sam’s Club member, however, you’ll only earn 1% back on Sam’s Club purchases and other items you buy. Considering this card is a co-branded card with Sam’s Club, the 1% earning rate on Sam’s Club purchases for regular members is definitely subpar.

Also note that some restrictions apply. In addition to the earning cap on gas purchases, the fine print for the Sam’s Club Mastercard also says your cash back rewards are capped at $5,000 per year. That’s a huge threshold to meet, but it’s still worth noting if you spend a lot of money and have a high cash back potential as a result.

Spending example

Let’s say you buy gas and groceries at Sam’s Club, and that you spend around what the average family spends. According to the U.S. Bureau of Labor Statistics, the average family spent approximately $2,094 on gasoline per year at last count. Meanwhile, the United States Department of Agriculture (USDA) estimates that the average family of four on a moderate budget spends up to $1,128.20 per month on groceries.

With these levels of spending, you would earn this much in rewards on gas and Sam’s Club purchases as a Sam’s Club Plus member:

  • Gas spending ($2,094 per year): $104.70 in cash back
  • Grocery spending ($13,538.40 per year): $676.92 in cash back

If you’re a regular member, you would earn this much in rewards:

  • Gas spending ($2,094 per year): $104.70 in cash back
  • Grocery spending ($13,538.40 per year): $135.38 in cash back

Redeeming rewards

The Sam’s Club Mastercard comes with even more stipulations within its rewards program. For starters, you get your rewards from the prior year in February of each year, and your rewards are automatically added to your Sam’s Club account. From there, you can only redeem them for purchases or cash back at Sam’s Club locations.

While your rewards won’t expire as long as you’re a member and you use them before their expiration date, you won’t be able to redeem your rewards if you give up your Sam’s Club membership for any reason – for example, if you move and don’t even live near Sam’s Club anymore.

The fine print for this card goes on to say that, if your Sam’s Club membership ceases, “the rewards may not be redeemed until such membership is reactivated.”

How do rewards expiration dates work? Sam’s Club is pretty cryptic about this on their website.

Specifically, they say that “your unredeemed cash back rewards will expire as of the date listed on the reward notification you will receive when the cash back rewards are issued to your Sam’s Club membership. Any unredeemed cash back rewards will be forfeited upon the expiration date if unused.”

Current sign-up bonus

When you sign up for the Sam’s Club Mastercard, you get the chance to earn a statement credit of $30 when you open an account and make a Sam’s Club purchase of $30 within 30 days. We likely do not have to tell you that this “sign-up bonus” is pretty unimpressive and that most rewards cards offer much better bonus offers.

If you really want to earn a big bonus within the first few months of account opening, we suggest checking out our guide to the best credit card sign-up bonuses.

Card rates and fees

The Sam’s Club Mastercard doesn’t charge an annual fee, which is not that surprising. However, one benefit of this card is the fact that it doesn’t charge any foreign transaction fees.

Cardholders who carry a balance will pay a variable APR of 15.65% to 23.65% depending on their creditworthiness. Other fees to be aware of include a 4% balance transfer fee (minimum $10), a 3% cash advance fee (minimum $5) and a late fee of up to $40.

Card perks

The Sam’s Club Mastercard is pretty light on perks, which is pretty normal considering it’s a credit card for groceries and gas at heart. With that being said, there are some benefits you may actually care about:

  • No foreign transaction fees: When traveling abroad, you won’t be charged a fee on foreign transactions.
  • Doubles as membership card: You won’t have to carry a separate membership card since your Sam’s Club Mastercard is connected to your membership.

How does the Sam’s Club Mastercard compare to other cash back credit cards?

While the Sam’s Club Mastercard is co-branded with this bulk retail store, you can use any cash back credit card to shop here. To help you decide whether the Sam’s Club Mastercard is for you, we decided to compare it to other rewards credit cards for gas and groceries.

Chase Freedom Unlimited®

Chase Freedom Unlimited®

Costco Anywhere Visa® Card by Citi

Costco Anywhere Visa® Card by Citi

Wells Fargo Active Cash℠ Card

Wells Fargo Active Cash℠ Card

Rewards rate:

  • Earn 5% back on up to $12,000 in grocery store purchases the first year
  • Earn 5% back on Lyft rides (through March 2022)
  • Earn 5% back on travel booked through Chase
  • Earn 3% back on dining and drugstore purchases
  • Earn 1.5% back on all other purchases
Rewards rate:

  • Earn 4% back on up to $7,000 in eligible gas purchases per year, then 1% back
  • Earn 3% back on restaurants and eligible travel
  • Earn 2% back on purchases at Costco and Costco.com
  • Earn 1% back on all other purchases
Rewards rate:

  • Earn 2% back on all purchases
Sign-up bonus:

Earn $200 when you spend $500 within three months of account opening

Sign-up bonus:

None

Sign-up bonus:

Earn $200 when you spend $1,000 within three months of account opening

Annual fee:

$0

Annual fee:

$0

Annual fee:

$0

Other things to know:

  • 0% APR on purchases and balance transfers for 15 months, followed by a variable APR of 14.99% to 23.74%
  • Get three free months of DashPass membership
  • Purchase protection
  • Extended warranties
  • Trip cancellation and interruption insurance
  • 3% foreign transaction fee
Other things to know:

  • No foreign transaction fees
Other things to know:

  • 0% APR on purchases and balance transfers for 15 months, followed by a variable APR of 14.99%, 19.99% or 24.99%
  • No foreign transaction fees
  • Cellphone protection

Chase Freedom Unlimited®

As you compare these cards, it’s easy to see how the Chase Freedom Unlimited® stands out. There is a broader range of bonus categories including groceries and gas stations, and all of your regular purchases will earn a flat 1.5% back. This card also offers a sign-up bonus, and there’s no annual fee to boot.

In addition to offering a breadth of insurance and travel protections, the Chase Freedom Unlimited also lets you redeem your rewards for cash back, statement credits, merchandise, gift cards and even travel.

Costco Anywhere Visa® Card by Citi

If you don’t have a big box membership yet and you may give Costco a try, you should also check out the Costco Anywhere Visa. This card also offers an excellent cash back rate on gas, but you’ll probably notice that it gives you 2% back on Costco and Costco.com purchases, compared to the 1% back Sam’s Club regular members get with their co-branded card.

On the other hand, the Costco Anywhere Visa also comes with similar restrictions on their rewards. You only get your rewards once per year, and they are only good at Costco.

Wells Fargo Active Cash Card

If you really want a flat-rate rewards card with fixed bonus categories and no earning caps, check out the Wells Fargo Active Cash Card. Not only do you get the chance to earn a $200 cash bonus when you spend $1,000 within three months of account opening, but you earn a flat 2% back on everything you buy.

This card doesn’t charge an annual fee, and you get cellphone protection coverage when you pay your phone bill with your credit card.

Who should get the Sam’s Club Mastercard?

  • Current Sam’s Club members who like to shop at bulk superstores
  • Sam’s Club Plus members who can earn 5% total cash back on Sam’s Club purchases
  • People who spend a lot on gas and dining out
  • People are fine with earning rewards that have to be redeemed at Sam’s Club

How to use the Sam’s Club Mastercard:

  • Keep your Sam’s Club membership current through at least February when you can spend your rewards balance from the previous year.
  • Use the card to pay for gas and dining purchases to maximize your rewards.
  • Carry the card with you when traveling overseas to take advantage of no foreign transaction fees.
  • Pay your balance in full each month to avoid the high APR for purchases.

Is the Sam’s Club Mastercard worth it?

Since the Sam’s Club Mastercard offers cash back rewards with no annual fee, it’s hard to complain too much about it. Then again, there are rewards caps and limits with this card, and you can only redeem your rewards for cash back or merchandise by visiting Sam’s Club.

That makes the Sam’s Club Mastercard pretty inconvenient when you compare it to other cards with flexible rewards and fewer limitations. While the Sam’s Club Mastercard could be the best fit for your needs, we suggest comparing it to other cash back credit cards that offer bonus rewards on groceries, gas or both.

All reviews are prepared by CreditCards.com staff. Opinions expressed therein are solely those of the reviewer and have not been reviewed or approved by any advertiser. The information, including card rates and fees, presented in the review is accurate as of the date of the review. Check the data at the top of this page and the bank’s website for the most current information.

Responses to comments in the discussion section below are not provided, reviewed, approved, endorsed or commissioned by our financial partners. It is not our partner’s responsibility to ensure all posts or questions are answered.

Partner Offer

Apply now