Sam’s Club today announced a credit card cash back program that gives
members the opportunity to earn 5 percent cash back on fuel, 3 percent
cash back on dining and travel, and 1 percent cash back on all other
purchases, up to $5,000 annually.
The new Sam's Club MasterCard featuring chip enabled technology and 5% cash back rewards on fuel. (Photo: Business Wire)
Starting June 23, the Sam’s Club 5-3-1 cash back program on its new
co-branded MasterCard, issued by GE Capital Retail Bank, is available to
qualifying Sam’s Savings, Sam’s Business and Sam’s Plus members in the
U.S. and Puerto Rico. The cash back value proposition makes the new
Sam’s Club program the most competitive credit reward program in the
club category.
“We’re always looking for ways to find time and money-saving solutions
for our members. The 5-3-1 Sam’s Club program and co-branded MasterCard
mean industry-leading savings and security innovation for today’s
consumer,” said Rosalind Brewer, president and CEO of Sam’s Club.
“Under the 5-3-1 cash back program, Sam’s Club members can earn up to
$5,000 cash back annually. That could cover a family of four’s travel to
Disney, or five sets of laptops and wireless phones for a small
business. We believe this value is the best in the industry.”
The new Sam’s Club MasterCard comes with enhanced credit card safety, a
top concern for today’s shoppers. Sam’s Club is the first mass retailer
to actively implement chip-enabled technology. Each credit card has an
embedded chip that makes the card more difficult to duplicate, which
provides enhanced security from fraudulent activity.
“MasterCard has taken a strong stance on the need for the U.S. market to
make the transition to chip-enabled credit cards for the benefit of
cardholders and merchants alike,” said Chris McWilton, president North
America, MasterCard. “This move by Sam’s Club makes them a trailblazer
in getting chip cards in the hands of businesses and consumers, and
leading the push toward a safer and more secure customer experience.
This will no doubt help drive chip-enabled technology forward here in
the U.S. as it gains more traction.”
In addition to the 5-3-1 cash back program, the new Sam’s Club
MasterCard includes these benefits:
-
No annual fee, Sam’s Club membership required
-
The new cobranded card can be used anywhere MasterCard is accepted
across the globe
-
Extended Warranty Coverage for Consumers and Extended Warranty
Insurance for Businesses
-
Identify Theft Resolution Services for Consumers and MasterRental
Coverage for Businesses
“We have worked closely with Sam’s Club to enhance the shopping
experience for Sam’s Club members, such as launching this 5-3-1 credit
program,” stated Tom Quindlen, CEO of GE Capital Retail Finance’s Retail
Cards platform. “This new program provides enhanced rewards for
co-branded cardholders, who can manage their account and shop in-club,
online and on the go, with easy to use rewards and greater savings.”
Sam’s Plus members now have two opportunities to get dollars back on
their purchases with the new 5-3-1 program and exclusive Plus-only Cash
Rewards program. Beginning June 12, all Sam’s Plus members will be
automatically enrolled to receive $10 in Cash Rewards for every $500
spent on qualifying pre-tax Sam’s Club purchases, regardless of payment
type.
In summary, Sam’s Plus members have access to earn up to $500 annually
through Cash Rewards on top of earning up to $5,000 annually when they
use the co-branded Sam’s Club MasterCard. These funds are redeemable for
cash, for purchases in-club or on SamsClub.com,
or to cover annual membership fees.
For additional details on the Sam’s Club credit card cash back program,
visit SamsClub.com/newsroom.
About Sam’s Club
Sam’s Club®, a division of Wal-Mart Stores, Inc. (NYSE: WMT),
is a leading membership warehouse club offering superior products,
savings and services to millions of members in 636 clubs in the U.S. and
Puerto Rico. To learn more about Sam’s Club, visit the Sam’s
Club Newsroom, shop at SamsClub.com,
and interact with Sam’s Club on Twitter and Facebook.
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Copyright Business Wire 2014