The Sam’s Club Business Mastercard, issued by Synchrony Bank, aims to provide value to small business owners who frequent Sam’s Club or rack up significant expenses on gas and dining. Available to those with a Sam’s Club membership – either Club or Plus – the card offers a tiered cash-back structure, with the most lucrative rewards reserved for Plus members.
Key Features
The Sam’s Club Business Mastercard boasts a $0 annual fee, making it an attractive option for businesses looking to avoid ongoing costs. However, the APR currently stands at 20.15% or 28.15% (as of ), a variable rate subject to change. Applicants generally need good to excellent credit, typically a FICO® Score of 670 or higher, though Synchrony doesn’t publish a specific minimum score.
The card’s rewards structure is as follows:
- Gas: 5% cash back on the first $6,000 in purchases annually, then 1%.
- Sam’s Club Purchases: 3% for Plus members, 1% for Club members.
- Dining & Takeout: 3% cash back.
- All Other Purchases: 1% cash back.
New cardholders can receive a $50 statement credit after spending $30 in eligible Sam’s Club purchases within the first 30 days of opening an account, though this offer was valid between and . Rewards are earned as Sam’s Cash, redeemable online, in-app, or at Sam’s Club locations, and can even be used to cover membership fees or be cashed out at the Member Services desk.
Maximizing Rewards
The 5% cash back on gas, up to $6,000 per year, is a significant draw. This benefit applies to all gas purchases made with the card, regardless of location. For Plus members, the 3% cash back on Sam’s Club purchases can add up quickly, offering a $150 return on $5,000 in annual spending, compared to just $50 for Club members. The dining and takeout bonus provides another avenue for maximizing rewards.
However, there’s an annual rewards cap of $5,000 in Sam’s Cash. Businesses with substantial expenses may find this limit restrictive and consider supplementing this card with another business credit offering.
Fees and Costs
Beyond the variable APR, the Sam’s Club Business Mastercard charges fees for late payments (up to $40) and returned payments (up to $41). Cash advances incur a fee of $5 or 3% of the transaction amount, whichever is greater. Importantly, the card has no foreign transaction fees, making it useful for business travel or purchases made abroad.
Applying for the Card
Applicants can apply online or in person at a Sam’s Club location. Applying online requires a Social Security number and a personal guarantee. However, applying in person offers the possibility of securing approval based solely on a business’s Employer Identification Number (EIN), potentially avoiding a personal guarantee. Synchrony Bank will assess the business’s finances and credit history in this scenario.
The application process requires basic business information, including name, address, phone number, EIN, monthly estimated spend, and number of employees.
Sam’s Club Business Mastercard vs. Store Card
Sam’s Club offers a Business Store Credit Card as an alternative. While the Business Mastercard can be used anywhere Mastercard is accepted and earns Sam’s Cash, the Store Card is limited to purchases at Sam’s Club and Walmart and does not earn Sam’s Cash rewards. The Business Mastercard generally offers broader usability and a more compelling rewards structure.
Alternatives to Consider
For businesses seeking a more comprehensive rewards program, the Wells Fargo Signify Business Cash® Card offers a $500 cash rewards welcome bonus after $5,000 in purchases within the first three months, along with an unlimited 2% cash rewards on all purchases and a 0% introductory APR for the first 12 months.
Businesses that primarily shop at Costco may find the Costco Anywhere Visa® Business Card by Citi a better fit, offering 3% cash back on restaurants and eligible travel, 2% at Costco and Costco.com, and 1% on all other purchases.
The American Express® Business Gold Card is a premium option with a higher annual fee but offers substantial rewards in select categories and benefits like travel credits.
Who is this card for?
The Sam’s Club Business Mastercard is best suited for existing Sam’s Club members, particularly those with a Plus membership, who frequently spend on gas, dining, or at Sam’s Club itself. It’s also a viable option for business owners seeking a no-annual-fee card and the potential to apply without a personal guarantee (though This represents not guaranteed).
