$20 Statement Credit Promotion
Sam’s Club is currently running a promotion that can save you $20 on your first purchase. Open a Sam’s Club account and make at least a $50 purchase in a single transaction on the same day you open the account to get a $20 statement credit. This offer is good through December 31, 2015.
5% Back at Gas Stations
The Sam’s Club Mastercard can be used anywhere Mastercard is accepted to get a generous 5% back at gas stations. You can use a website like GasBuddy.com to find the cheapest gas in your area and then use your card. You can even combine it with most gas loyalty cards to earn additional rewards. If gas is $3.00 a gallon, you’ll effectively pay $2.85 a gallon or less.
Note that you only earn the 5% back on the first $6,000 in annual gas station spending. After you hit this cap, you’ll earn 1% back. If you spend more than $6,000 per year in gasoline ($500 a month), it’s probably a good idea to use a back-up gas rewards card once you hit the limit.
5% Back at Sam’s Club and Walmart Fuel Stations
The card also earns you 5% back on all gasoline purchases at Sam’s Club and Walmart fuel stations. This is a pretty big deal because most rewards credit cards exclude fuel stations that are part of a warehouse club or supermarket from boosted rewards. Not only does Sam’s Club usually have the cheapest gas in most cities, you will also get another $0.05/gallon discount for being a Sam’s Club member.
By using your Sam’s Club Mastercard to buy gas at Sam’s Club, you will effectively pay just $2.80 per gallon if gas is priced at $3.00. That’s a savings of $0.20 per gallon.
3% Back at Restaurants
You can get 3% cash back on all restaurant spending when you use your Sam’s Club, which includes Sam’s Club. You can use your Sam’s Club Mastercard to save money on an anniversary dinner or family meal. While there are some cards that offer slightly higher cash back for restaurant spending, 3% back is higher than most cards give at restaurants.
Save 3% on Travel
If you travel even occasionally, the Sam’s Club Mastercard can help you save big. Unlike many branded travel cards, you can earn the 3% back regardless of where you make travel arrangements. You will earn 3% back on spending at:
- Airlines
- Cruises
- Rental car agencies
- Buses and trains
- Travel agencies
- Travel websites
- Tour operators
- Hotels
- Travel merchants. Warehouse clubs are excluded, except for Sam’s Club
1% Back on Everything Else
Any spending that doesn’t fall under gasoline, travel, or restaurant will earn a flat 1% cash back. While this may not be much, it can add up over time. You may want a secondary rewards card for spending that doesn’t fall into these three categories for higher rewards.
Extra Rewards for Sam’s Plus Members
If you have a Sam’s Plus membership ($100 per year versus $45 for a standard Sam’s Club membership), you have the opportunity to save even more money with the Sam’s Club Mastercard. Sam’s Plus members earn $10 for every $500 in purchases made in-store, which is capped at $500. If you combine these savings through the Cash Rewards with the cash back you earn through the Mastercard, you can earn up to $5,500 cash back every year ($5,000 cap with the Mastercard and $500 with the Cash Rewards program).
Remember that the amount of cash back you earn with your Sam’s Club Mastercard depends on the merchant category code (MCC) associated with the merchant. Every merchant’s payment network or processor assigns a 4-digit code based on the merchant’s main business activity. This code will determine whether a merchant is classified as a gas station (for 5% back), a grocery store (for 1% back), or travel (for 3% back).
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