Information About Sam's Club Credit Card You Need to Know
1. In theory, Sam's Club Credit Card has no annual fee, but if you don't, you have to apply for membership in Sam's Club ($45 per year). However, it should be noted that if you open an account on SamsClub.com on the same day, the application fee will be paid in the form of a settlement credit of $45 when the amount of consumption equals or exceeds the purchase amount.
2. Similar to the credit cards offered by competitor Costco, Sam's Club Credit Card has a very strict redemption procedure. Cash return rewards are issued in the form of checks, only once a year, in February of that year. Considering that the cheque designates the Sam Club as the payee, it can only be cashed at the location of the Sam Club. Another disadvantage is that the validity of the check is 180 days, much shorter than Costco's reward certificate, which will not expire until about 11 months after issuance. In addition, it should be noted that if your membership expires before February, you will lose all cash incentives accumulated throughout the year. (If you lose your membership on the day you receive the check, you will need an extra day's pass to enter Sam's Club for exchange.) If you don't want to be a member of Sam's Club or would rather use cash immediately, these restrictions may be an obstacle to getting and delivering feedback.
3. Like most store-brand cards, Sam Club MasterCard offers little online help in cardholder protection and welfare, although promotion financing is occasionally available in some transactions. But if you decide to take advantage of this offer, you must read the rules and pay attention to whether the language includes words that are closely related to your interests, such as "no interest in X months" or "no interest paid in full in X months".
4. Other benefits include identity theft protection and free installation of EMV chips, as well as disclaimers after missing cards.
Should You Get the Sam's Club Credit Card ?
Do you want to start a Sam's Club credit card? If you plan to spend regularly at Sam's Club, you can use this Sam's Club Credit Card, to get a 5% cash refund, which can reduce part of your daily consumption burden. And if you usually spend a lot of money on food and travel, Sam's Club Credit Card is a good choice.
Sam's Club MasterCard has cash-back benefits in many consumer areas, including gasoline, catering, travel, and most consumer areas. If cash back is an important factor in measuring the quality of your credit card, then Sam's Club Credit Card is a high score option. However, it should be noted that cash back can only be used once a year, which is a restriction for some opportunists.
Finally, if you are still not satisfied with Sam's Club Credit Card, you can see from other credit card lists whether other cards match your options.
What is a travel credit card?
With the increasing number of tourists, there is an increasing demand for travel credit cards. Most travel credit cards can be used not only during holidays, but also for business travel. Travel credit cards for travelers allow you to earn miles while shopping, and they often get more rewards for your travel-related shopping. You can pay for your ticket by mileage, book hotels, and more. You will find that some of these cards are branded by hotels or airlines and allow you to maximize your rewards when spending directly with them.
What are the benefits of travel credit cards?
Many travel credit cards offer a huge bonus after you meet a minimum spending requirement within a period.
Earn travel-related points and miles
Many travel credit cards offer a variety of rewards program including airlines, hotels, dining, etc. There are generally three options:
Fixed value points
You can always know how much your points are worth. For example, the Bank of America Travel Rewards credit card earns 1.5 points per $1 spent on anything, and each point is worth one cent.
You can earn points by using one travel credit card and then transfer to the participating airline or hotel transfer partner. For example, with the American Express Membership Rewards program, you can choose to transfer to 15 different airline programs. Once the miles are transferred, you will follow the rules of the program.
Co-branded travel cards
You can get your perks on an airline or a hotel program directly, such as lounge access, free checked bags and other perks.
No foreign transaction fees
Some travel credit cards don’t have any foreign transaction fees, which can help you to save money during you travel aboard. But if your travel credit card doesn’t charge any foreign transaction fee, you have to pay attention to other surcharges.
Redeem points easily
Most cards let you redeem points for any travel expenses you want. And some travel credit cards let you redeem your points for real money or gift cards, which it is a good option when you are not sure if you want redeem for travel.
What do you need to apply for a travel credit card?
Travel credit cards require your credit score in great shape first. Most of the top travel credit cards are offered to those with “excellent” or “very good” credit. Don’t be discouraged if you find that you don’t qualify for a travel credit card yet. There are also many good rewards or cash back credit cards which are worth applying for and can help you to build credit.
Know where you want to go
Places you want to go can make a huge difference in which cards and travel programs you should invest in. Therefore, before applying for a new travel credit card, figure out this question.
You can apply for a travel credit card online, in banks or by email depending on the card. And you just need to fill in your personal information and submit your application. The credit card issuer will consider your credit reports and several different factors when reviewing your application to get an idea of your creditworthiness.
How to use a travel credit card?
Read your credit card terms and conditions.
This will give you an idea of how you can earn travel rewards, when rewards will post and other information. Make sure you understand all potential fees such as late fees, foreign transaction fees and other fees. You also need to know how to avoid them before you pursue travel rewards.
Maximize card benefits and perks
Some travel credit cards have annual fees about the hundreds of dollars, so it’s necessary to maximize card benefits and perks in order to make the fee is worth it.
Plan and budget
Travel credit cards can make it easier to overspend during you vacation, because the money doesn’t leave your bank at once. Therefore, we recommend you to make plans before your travel and budget spending. It’s also important to track your spending diligently.
Pay your bill in full on time
Many travel credit cards offer high reward points, but they often come with high interest rates. Therefore, we recommend you to pay the bill in full on time in order to avoid paying high interest. Carrying a balance may cost you more than you get in rewards.