Posted by William Charles on June 26, 2014
Credit Cards

Published on June 26th, 2014 | by William Charles

13

New Sam’s Club Mastercards: 5% Cash Back On Gas, 3% On Travel & Dining

Sam’s Club recently introduced two MasterCard’s, a personal & business version. They both have the same benefits so we’ll do a quick run down of what they offer:

  • 5% cash back on the first $6,000 in gas purchases every year. Excludes other discount warehouses other than Sam’s club
  • 3% cash back on dining & travel
  • 1% cash back on all other purchases
  • Limit of $5,000 in cash back per calendar year
  • No annual fee
  • Requires a Sam’s Club membership

This is a much better card than what was previously offered by Sam’s Club. I still wouldn’t recommend this to most people unless they are doing the majority of their gas purchases at Sam’s Club itself, you’d most likely be better off with the Fort Knox Credit Union card that is 5% cash back without any restrictions. The Sallie Mae card also offers 5-5.5% cash back on all gas purchases, but there is a $250 monthly limit.

[Read: Best Credit Cards For Gas Purchases]

There are also better options for restaurant purchases, with the U.S Bank Cash+ being the most obvious earning 5% cash back with a $1,500 quarterly limit and no annual fee. Although it’s the one of the better options and is now a third place for restaurant spend.

When it comes to travel, most people prefer a card that earns loyalty points but for those that don’t then this is the best cash back offering. What do you think of the new cards offered by Sam’s Club, will you be signing up for one?



13 Responses to New Sam’s Club Mastercards: 5% Cash Back On Gas, 3% On Travel & Dining

  1. Thomariffic says:

    This card would look great with 12 Vanilla Reloads.

    Is it only applicable in-store?

  2. Steve says:

    The 5% cash back is from any gas station, not just at Sams Club. Also, doesn’t the U.S Bank Cash+ card have multiple restaurant categories, and you can only pick two for the 5% cash back?

    • zinna says:

      there are exclusions on the gas stations and even the stations I used are not on the exclusion list the purchase did not count even for a 1% reward. Talk to customer service several times – they talk a lot without any sense. The letter from the customer service I have received is just a joke.

  3. univs says:

    I’m disappointed to see how incomplete this post is as something coming from my favorite blog. This card is by far not as good as it seems on the surface when you dig further: (1) It doesn’t ask for an annual fee but does require a Club membership which costs $45-100 a year; (2) the rewards is not redeemable whenever you want but distributed once per calendar year; (3)The cash back you earned can only be used in Sam’s Club, and if you don’t, it will expire within 180 days even though you stay being a member and keep making purchases with your card.

    • (3)The cash back you earned can only be used in Sam’s Club, and if you don’t, it will expire within 180 days even though you stay being a member and keep making purchases with your card

      I don’t think this is true. They issue you a check and not store credit. The other two are good points and I’ll add that to this mini review. When the cards were initially released there was no mention of it being paid once per annum.

      • univs says:

        Hi, Will, maybe I understood it wrong, but the “cash back check” is surely not a common bank check that you can throw into an ATM and get it deposited: (1) it has to be redeemed in a Sam’s Club store, (2) you have to be a Club Member/have a one-day Club pass when you redeem it. I’m not entirely sure what these restrictions could mean though.

  4. Sondra says:

    Unfortunately you guys are off base with you info in regards to the Sams Club Mastercard 531. You cash it at Sams Club and you can do whatever you want with the cash. You have to be an active member to apply for the credit. BUT, once the account is open, you don’t have to remain a member to keep the credit. The rewards program is a annual program that is done by net purchases for the calander year. It pays out in February, for the previous years rewards, to all active credit accounts that earned 5.00 or more in rewards the previous year. AND all checks are only good for 6 months from the day they are dated for. Not just on this rewards check. There is no annual fee for the credit card. And is a fee for Sams Club, but AGAIN, after you get the card, you don’t have to remain a member. The rewards for gas are 5% for Sams Club Or with any gas station that isn’t in direct compatation with Sams Club. If they are, it is 1%. Travel and restaurants earn 3% and everything else earns 1%.
    That is how the new Sams Club Mastercard works.

  5. Mike says:

    Their interest rates are terrible. You have to have an 825 credit score to get their best. I have almost an 800, and the interest rate they gave me is 22.9%. My other cards are around 9-12%. Not worth the rewards when you can get similar ones with cards that have much better interest rates, like Costco & AARP.

  6. Alex says:

    I have a credit score of 725, and got rejected for Sam’s Club Master Card. Instead they gave a store credit card with $487 credit limit. The master card seems like a scam to me, such that they can lure new customers.

    I paid $45 membership fees and became Sam’s club member just to get this credit card, and save some dollars at the pump. Their gas price is 15 cent lower than other pumps + the 5% cash back seemed like a good deal. Moreover, 3% cash back at restaurants would have been useful. I would have saved $150 per year with this card.

    However, their scam is that they do not tell you that they have rejected your mastercard application. Instead they give you a regular Sams store card, which sounds similar to the mastercard. Upon calling the customer service, I got informed that they approve master card only for high 700s or 800s. Without the 5% cash back Sam’s club is pretty useless for me + they horrendous customer service is just a hassle.

    It also appears that many people are falling for the Scam’s club latest scam. Here are some other people complaining about this: https://www.creditkarma.com/reviews/credit-card/single/id/sams-club-credit-card?pg=2&pgsz=10&prdhlder=0

    • Ed deel says:

      What you all are missing is that having the card allows the card company to sell your personal information including your social security number. I have the language rift in front of me. I cancelled my card. Increasing ones chances for identity theft is not worth saving a little bit on gasoline. Stick with credit unions as they give the best security and pretty good incentives.

    • Ed deel says:

      What you all are missing is that having the card allows the card company to sell your personal information including your social security number. I have the language right in front of me. I cancelled my card. Increasing ones chances for identity theft is not worth saving a little bit on gasoline. Stick with credit unions as they give the best security and pretty good incentives.

  7. Billy says:

    Unfortunately, the Sallie Mae card isn’t available anymore.

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