Answered by Vanessa Watson, expert at CreditCardFlyers.com:
That's a good question! Sams Club has two cards in play right now, which are only available to club members, so let’s take a look at what they offer.
Store cards can be really appealing when you see the application at the register, but it’s a good idea to take a close look at what you actually get with these cards to make sure you get the most lucrative card.
That said there are some real downsides to signing up for a store card offering low grade rewards and high APR's. In this case both are true with the Sam's Club Credit Card – its APR of 22.90% is on the high side, this card does not earn rewards, and it can only be used at Sam's Club and Walmart giving it less reach.
Now the Sam's Club MasterCard does offer you more, in terms of actually letting you earn cash back on purchases, but the APR is still on the high side. There are other traditional cards offering low or a no interest promotional APR. While you do earn cash back on a wide range of purchases, when you read the fine print you find that there is a $5,000 cap on your earning power. Here too if you shop around you may find a card offering a more lucrative rewards program with either no cap or a higher one, and even possibly a lucrative sign-on bonus. For example, Discover cards give access to Discover Deals where cardholders can earn additional cash back. So, shopping at Sam's Club via Discover Deals will bring you 5% cash back.
0% Intro APR on Purchases: 12 months
Ongoing APR: 11.9% - 19.9% (Variable)
- 5% Earnings on your first $5,000 in purchases every year.
- Unlimited 2% Earnings on every purchase after that.
- Redeem Earnings toward the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle.
- Save even more when you combine your available Earnings with most current GM offers and incentives.
Ongoing APR: 17.90% - 23.90% (Variable)*
- Unlimited 1% cash back gas rewards.
- Rewards post to your account automatically each month.
0% Intro APR on Purchases: until May 2016
Ongoing APR: 22.9% (Variable)
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or sign ups needed to earn cash rewards; plus, cash back doesn′t expire and there′s no limit to how much you can earn
Ongoing APR: 29.99% (V)
0% Intro APR on Purchases: N/A
Ongoing APR: 19.8% (Variable)
- Earn 1% cash back on all purchases, plus a 25% bonus on the cash back you earn each month you pay on time, for a total of 1.25% cash back
- There′s no limit to the amount of cash back you can earn, and rewards don′t expire
Ongoing APR: 23.9%
Whether you’re at Sam's Club, Walmart, or another retailer, shopping around for deals can pay off. The same holds true when you’re looking for a new credit card.
financial expert at CreditCardFlyers.com
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* See Card Terms & Conditions for Details.
5% Earnings on your first $5,000 in purchases every year
Unlimited 1% cash back gas rewards
until May 2016