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The terms and the agreement of Sams Club Mastrercard!!!

New Contributor

Re: The terms and the agreement of Sams Club Mastercard!!!

its funny...I was just thinking that Sam's should give auto approval to members with Costco Amex cards. Then today I checked the mail and there is a pre approved letter there for Sams Discover.

 

I was not sure about it ...I didnt know Discover was affiliated with GECRB.

 

Now I am reading this thread about it changing to Sam's Master Card?

 

Is that right or did I miss something?

 

I  was really interested in the Discover IT card is that an entirely different card with another company?

 

Forgive me for being so new to credit cards. I had paid cash for most things for many years.

 

I am really excited about the cards now. I just picked up two in the past 90 days with impressive limits. I am not sure about the next strategy. It seems the Amex approval opened a floodgate of offers. I am trying to be careful and do this right. Is the Sam's Discover a good one for the wallet? Does anyone know which bureau they pull from?

 

 


Starting Score: EQ 680 EX 731 TU 697
Current Score: EQ 742 EX 752 TU 743
Goal Score: 800


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Message 51 of 75
Moderator Emerita

Re: The terms and the agreement of Sams Club Mastercard!!!


stillirise wrote:

its funny...I was just thinking that Sam's should give auto approval to members with Costco Amex cards. Then today I checked the mail and there is a pre approved letter there for Sams Discover.

 

I was not sure about it ...I didnt know Discover was affiliated with GECRB.

 

Now I am reading this thread about it changing to Sam's Master Card?

 

Is that right or did I miss something?

 

I  was really interested in the Discover IT card is that an entirely different card with another company?

 

Forgive me for being so new to credit cards. I had paid cash for most things for many years.

 

I am really excited about the cards now. I just picked up two in the past 90 days with impressive limits. I am not sure about the next strategy. It seems the Amex approval opened a floodgate of offers. I am trying to be careful and do this right. Is the Sam's Discover a good one for the wallet? Does anyone know which bureau they pull from?

 

 


 Sams/Walmart Discover  simply uses the Discover payment network. They are issued by GECRB not Discover Card Services. 

Message 52 of 75
Highlighted
Moderator

Re: The terms and the agreement of Sams Club Mastercard!!!


stillirise wrote:

its funny...I was just thinking that Sam's should give auto approval to members with Costco Amex cards. Then today I checked the mail and there is a pre approved letter there for Sams Discover.

 

I was not sure about it ...I didnt know Discover was affiliated with GECRB.

 

Now I am reading this thread about it changing to Sam's Master Card?

 

Is that right or did I miss something?

 

I  was really interested in the Discover IT card is that an entirely different card with another company?

 

Forgive me for being so new to credit cards. I had paid cash for most things for many years.

 

I am really excited about the cards now. I just picked up two in the past 90 days with impressive limits. I am not sure about the next strategy. It seems the Amex approval opened a floodgate of offers. I am trying to be careful and do this right. Is the Sam's Discover a good one for the wallet? Does anyone know which bureau they pull from?

 

 


The Sam's Club Discover is issued by GECRB and uses the Discover network for processing.   Discover It is actually issued by the Discover Bank, so it is a different lender.  Similarly, AMEX is card issuer (Centurion Bank) and a payment network.  Visa and Mastercard do not directly issue cards, but are a payment network.  Recently, a deal was reached to convert the Sam's Club Discover cards to using the Mastercard network for processing.  

 

Given the new rewards structure, I would highly recommend apping for Sam's Club Discover (as it will convert to a Sam's Club Mastercard).  GECRB, who issues this card, typically pulls TU.  



Start: 619 (TU08, 9/2013) | Current: 791 (TU08, 12/1/17)
Sam's Club MC $25000 | Marvel MC $25000 | Macy's AMEX $25000 | AMEX BCE $20400 | Discover IT $20000 | Macy's Store $20000 | Cap 1 QS WMC $17250 | BoA BBR #1 $17200 | JCP $15000 | Citi DC $12600 | Freedom VS $12000 | BofA BBR #2 $11800 | Disney VS $11500 | Care Credit MC $11200 | Cash+ VS $10500 | CashForward WMC $10000 | Barclay Rewards WMC $10000 | WCU Visa $10000 | Amazon Store $8000 | Blispay $7500 | Target MC $5000 | Sony Card $4250 | ~~Gardening Since 11/2/17
Message 53 of 75
New Contributor

Re: The terms and the agreement of Sams Club Mastercard!!!

Thanks Lexie and Sunrise,

 

TU isnt my best score I may hold off until the score bounces a bit.


Starting Score: EQ 680 EX 731 TU 697
Current Score: EQ 742 EX 752 TU 743
Goal Score: 800


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Message 54 of 75
Super Contributor

Re: The terms and the agreement of Sams Club Mastrercard!!!

Ron1 - when I have had product changes such as the Discover to MasterCard change, the creditor replaces the card number and header at the credit bureaus and continues the reporting as if nothing has happened. Very unlikely this will show as a new trade line open or closed. At least in my experiences (this has happened to me several times over the years like HSBC to Capital One and Providian to WAMU to Chase) business continues as usual.
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Message 55 of 75
Moderator

Re: The terms and the agreement of Sams Club Mastrercard!!!


Wanderer wrote:
Ron1 - when I have had product changes such as the Discover to MasterCard change, the creditor replaces the card number and header at the credit bureaus and continues the reporting as if nothing has happened. Very unlikely this will show as a new trade line open or closed. At least in my experiences (this has happened to me several times over the years like HSBC to Capital One and Providian to WAMU to Chase) business continues as usual.

Well, with Wal-Mart/Sam's it's a different story - with the upgrade a new TL appeared.. I'm not a betting man, but I bet it will be a new TL. I'll be SHOCKED if they do the right thing.

 

Put it this way: I requested a new card, and they shut down my account as lost/stolen and issued me a new card with a new TL! They love to mess up someone's average age of accounts. lol

Message 56 of 75
Frequent Contributor

Re: The terms and the agreement of Sams Club Mastrercard!!!

I just saw this thread, seems like great news. Can someone point out what is the current Sam's Club Discover rewards structure? I would like to compare the rewards.

 

 

Message 57 of 75
Frequent Contributor

Re: The terms and the agreement of Sams Club Mastrercard!!!


Wanderer wrote:
Ron1 - when I have had product changes such as the Discover to MasterCard change, the creditor replaces the card number and header at the credit bureaus and continues the reporting as if nothing has happened. Very unlikely this will show as a new trade line open or closed. At least in my experiences (this has happened to me several times over the years like HSBC to Capital One and Providian to WAMU to Chase) business continues as usual.

that's how it happened for my macy's VISA when it was changed to macy's AMEX

no new TL, seamless in regards to acct open date


BofA visa $9.4k ... BofA Cash Rewards visa sig $10k ... Cap 1 Venture1 visa sig $10k ...
Chase Freedom visa $10k ... Macy's $1.5k ... Macy's Amex $5k ... Sam's Club $6.3k
myFICOs as of 3/25/14:...EX=809 .... EQ=802....TU=787
Message 58 of 75
Super Contributor

Re: The terms and the agreement of Sams Club Mastrercard!!!

KennyRS - that is for the birds! All my credit card p/cs have been a replace the current credit info in the bureaus leaving the old date and reporting. In fact since 2001 I have to had at least ten p/cs and no new trade lines. Note, none were GE products.
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Message 59 of 75
Valued Contributor

Re: The terms and the agreement of Sams Club Mastrercard!!!

Two questions.

1. Are there gonna be two versions of this card like there is now like the store card and the discover? 

2. So it is only 1% back inside sams club? That makes no sense lol. I would never use it inside sams club then lol only for the gas

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.
Message 60 of 75