(Update 5/3/22: They’ve now added 5% at electric vehicle charging stations as well.)
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
- No foreign transaction 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.
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?