The Sam's Club Credit Card is a financial product that can bring you substantial benefits, as it not only functions as a payable capital fund over time but also offers other features.
In the following article, we invite you to discover at least 7 benefits of the Sam's Club credit card, the interest rates it applies, and how to apply for it. Below are the titles to be developed.
- Benefits small business owners
- You can enroll in the Sam's Cash Program
- No difficult requirements to meet
- No annual fees to pay
- You can request multiple extensions for your employees
- You can manage your credit card 100% online
- Payment convenience
- How to apply for a Sam's Club credit card
- Contact information for Sam's Club
Benefit the small business owners
If you are starting in the business world, saving every penny is crucial, and therefore, finding the best suppliers is a fundamental task.
We are well aware that most establishments operating as a network of businesses focus on meeting the needs of individual customers, leaving small business owners behind.
Sam's Club benefits you in that aspect, as with this credit card, you will not only have the ease of buying and paying in installments, but you will also be able to do so in large quantities.
Discounts and offers for payments with Sam's Club Credit Card
In addition to having the opportunity to make wholesale purchases, we want to detail the discounts you can apply for, leading to money savings for your company or your personal finances.
- Up to 5% cash back on fuel purchases, applied to the first $6,000 annually. Upon exceeding this amount, the reward will be 1%,
- 3% cash back on purchases at any type of restaurants,
- 3% cash back on purchases made at any Sam's Club store, provided you have subscribed to the Plus membership. If you have another membership plan, the benefit is 1%,
- 1% cash back on purchases made at any establishment,
- You will have access to exclusive hours for your early shopping,
- Exclusive benefits as an Optical Plus member.
However, it is important to note that you can only enjoy these discounts if you have the Sam's Club Credit Card, backed by MasterCard.
You can subscribe to the Sam's Cash Program
Just like other department store credit cards, Sam's Club is a tool that not only provides you with a capital fund that you can pay over time but also allows you to earn rewards for your purchases.
This is the Sam's Cash benefits program, an option created by this store chain where you can accumulate points simply by making your payment with the tool.
You don't need to subscribe, as just by obtaining this credit card, you automatically become a beneficiary, and every month, you will receive your reward, which will be automatically credited to your Sam’s Club account.
How does Sam's Cash work?
Sam’s Cash is part of the Sam’s Club Mastercard Rewards Program, where you can accumulate points for purchases made with this credit card.
For every dollar spent, you will receive one point, which you can collect until you decide to redeem them for products at Sam's Club stores or on the online platform.
The best part is that these points do not expire as long as you continue making payments as a Sam's Club member. So, you don't have to rush to spend them on anything; instead, it functions more like a savings program.
Does not require meeting difficult requirements.
One particularity of this type of card is that many companies demand meeting difficult requirements to approve them, which becomes an obstacle for those who are initiating in the financing world.
We know that those who opt to apply for this type of tool most likely do not have an extensive credit history or are just starting in this market.
Sam's Club does not fall into this category of companies, as they have easy-to-meet requirements, allowing many users or small business owners to obtain financing. However, you need to become a club member.
Memberships to which I can apply at Sam's Club
Among the requirements to obtain the Sam's Club credit card is membership to this organization. Below, we want to detail the types of memberships you can apply for.
- Classic Membership, where you can make purchases of premium products and also apply for the Customer Card,
- Benefits Membership, which grants you unique and exclusive pricing at Sam's and Walmart stores. With this subscription, you can also request the Customer Card,
- Plus Membership, which is the ideal alternative as it allows you to apply for the MasterCard and enjoy the Annual consumption return plan.
The last option also lets you enjoy significant discounts on your purchases, as well as the ability to pay exclusive prices on travel packages and any other promotions notified by Sam's Club.
You won't have to make annual payments
An annual fee is a payment that many companies charge their clients to keep the credit line of credit cards active, whether it's a departmental or traditional tool.
However, Sam's Club waives this fee for you, resulting in significant savings for cardholders, especially considering that you are already paying a membership fee.
This exemption puts this credit card at an advantage compared to other market options since the Total Annual Cost will be much lower if the company decides not to apply this fee.
How does the annual fee impact the Total Cost of a Credit Card?
We already mentioned that the annual fee on credit cards is the amount that banking institutions charge for access to and maintenance of an active line of credit.
Each institution decides the percentage this fee represents, or if it applies a fixed amount. What never changes is that the billing cycle is annual, regardless of the card's validity period.
Furthermore, it is a fee that significantly increases the Total Cost of the card, which you must pay even if you don't use it. For this reason, Sam's Club decides to waive this fee, resulting in savings for you.
You can request various extensions for your employees
If you apply for this credit card as a business owner, you'll be interested to know that you can request extensions so your employees can make the necessary purchases for your business.
While we always want to ensure that processes are carried out under our direction, it is important to delegate some of the tasks necessary for your company to function correctly to the employees.
In this case, Sam's Club provides you with a very beneficial method because, with the approval of this credit card, you can request properly controlled extensions so that your employees can make purchases.
How do extensions and usage controls work?
Through the online platform of Sam's Club, you can add or block users for the available extensions that can be activated with the credit card, so your employees can make purchases on your behalf.
You can even manage spending limits and monitor all operations your workers carry out with the credit card, allowing you to keep track of the expenses made with it.
You can manage your credit card 100% online
Sam's Club is a company that is tech-savvy, so in addition to being able to apply for credit cards online, you can also manage your accounts through this platform.
With your personal login, you can view current statements or those from previous months, as well as make bill payments, request credit line increases, among other services.
What are the advantages of being able to operate your card online?
In addition to having important information about your personal accounts at the click of a button, managing your credit card online benefits you by allowing you to make purchases on online platforms.
You can also subscribe to service payments directly from the website, thus avoiding the need to travel to any payment point and saving valuable time in the process.
Payment Flexibility
Another significant feature of this credit card is the ease that Sam's Club offers you to make the payment of the agreed installment or the total debt.
To do this, you will only need to authorize the company for automatic deduction from your personal account, make the deposit in any bank, or simply pay at the store's cash registers.
What is the advantage of having payment options?
Providing payment flexibility for your credit card will help you avoid falling into arrears, which could negatively impact your credit history when applying for other products in the future.
Moreover, in case of delays or missed payments, you will have to bear the penalties imposed by the company and the bank, usually linked to higher interest rates for debt repayment.
How to apply for a Sam's Club credit card?
After paying the membership fee and ensuring that you meet the required qualifications, you will need to download the Sam's app on your mobile and follow the steps detailed below:
- Register in the application and set up your personal password,
- Next, log into the app and go to the main menu to select the 'Credit Cards' section,
- Click on the 'Apply Now' button,
- Immediately, you will see a form where you need to enter your Sam's Club membership number. Once you have provided your details, click on 'Continue',
- Enter your company details,
- Finally, click on the 'Apply Now' button.
From this point, your application will be submitted to the financial analysis department, who will be responsible for approving or denying the issuance of this tool. The response may take between 7 and 10 business days.
Applied Rates for Sam's Club Credit Cards
As this is a credit card, you will be responsible for paying the interest associated with your purchases. This factor ranges from 11.90% to 25.90%. In case of non-compliance, you will also need to consider the following additional payments:
- Additional percentage on interest applied for late payment or non-compliance,
- Extra commission for administrative expenses incurred by unpaid debt, which can range between $15.99 and $39.99,
- If the payment is returned, you will have to pay a commission of $15.00 to $38.00.
However, it is important to note that this credit card does not have an annual fee, and you can also opt for interest waiver by paying off the debt before the card's due date.
Contact Information for Sam's Club
If you wish to apply for this credit card or want to check out the other benefits, you can visit the main office of Sam's Club in the United States, located in the city of Bentonville, Arkansas.
If you are not in this city, you can also make your inquiry online by emailing privacy@samsclub.com, which is the Customer Service Department's contact email.
Sam's Club Phone Contact and Official Website
You can call through the number 1-888-746-7726 of the Customer Service department, where you will be assisted by any staff member to guide you on various matters.
You can also visit the official website of Sam's Club and check out the other advantages that this tool can offer for you or your business. Find it in the menu, under the “credit cards” section.
Conclusion
Applying for a Sam's Club credit card is not just a tool to purchase products and pay for them over time, but it also comes with numerous benefits that allow you to enhance its use.
Disclaimer: When applying for any of these credit cards, you will also need to assume risks; therefore, it is advisable to verify the terms and conditions issued by Sam's Club.