topic Re: Sams Club surprise CLI amount in Credit Card Approvals

Sams Club surprise CLI amount

Meanmchine — Thu, 20 Dec 2018 19:43:54 GMT

Being that Walmart and Sams Club cards are going over to Capitol One ( yuk! ) next year, I decided to break my self imposed $5k store card limit and logged into my Sams Club account. i asked for $7500 and hit the enter button. There was no wheel. No delay. No lag.

I was immediately approved for $10,000 limit. What makes this approval nice is that my new CL will report to the CBs in a week.

Guess I am on Synchrony's good list for this year

Re: Sams Club surprise CLI amount

Anonymous — Thu, 20 Dec 2018 19:37:23 GMT

Congrats on your massive CLI !!!!

Re: Sams Club surprise CLI amount

Anonymous — Thu, 20 Dec 2018 19:43:48 GMT

There has been no deal for Sam's Club to leave Synchrony for CapOne. Sam's wants to be more prestigious than WalMart because they are each other's competitors and WalMart hurts Sam's business when you can use their cards interchangeably. The two stores will not share most of the same store brands in the near future and both will be financed by two different banks. This will force WalMart store customers to only shop at WalMart and Sam's Club store card holders to only shop at Sam's Club.

But will Sam's Club MC holders still be able to get the $100 cash back if they use the card at WalMart? That's the only question I have. The answer is probably not.

Re: Sams Club surprise CLI amount

Pikaboo-icu — Thu, 20 Dec 2018 20:02:38 GMT

@Anonymous wrote:
There has been no deal for Sam's Club to leave Synchrony for CapOne. Sam's wants to be more prestigious than WalMart because they are each other's competitors and WalMart hurts Sam's business when you can use their cards interchangeably. The two stores will not share most of the same store brands in the near future and both will be financed by two different banks. This will force WalMart store customers to only shop at WalMart and Sam's Club store card holders to only shop at Sam's Club.

But will Sam's Club MC holders still be able to get the $100 cash back if they use the card at WalMart? That's the only question I have. The answer is probably not.

I don't know about the cards but Sam's Club is owned by Walmart.

They're not exactly traditional competitors..

We have Walmart here in the Pacific NW but not Sam's.

Congrats MM!!! Well done.

Re: Sams Club surprise CLI amount

Anonymous — Thu, 20 Dec 2018 20:07:58 GMT

Exactly the opposite, they are each other's biggest competitor. Many Sam's Clubs have been shuttered in the last year. They might both be owned by the same company but think of having two of the same convenience stores across the street from one another. One is taking business from the other. The company is looking for ways to make these two different entities entirely.

Re: Sams Club surprise CLI amount

Pikaboo-icu — Thu, 20 Dec 2018 20:11:48 GMT

@Anonymous wrote:
Exactly the opposite, they are each other's biggest competitor. Many Sam's Clubs have been shuttered in the last year. They might both be owned by the same company but think of having two of the same convenience stores across the street from one another. One is taking business from the other. The company is looking for ways to make these two different entities entirely.

Yes, my point of traditional is that the same corp is getting the $$.

They aren't divorced from each other financially. The actual brick & mortars compete but the same people get rich.

Anyway, I don't wanna thread jack MM's post..

Re: Sams Club surprise CLI amount

Anonymous — Thu, 20 Dec 2018 20:23:02 GMT

I know the article is from 2015, but this is why they seem to be OK with two different banks financing their stores.

Revenue growth was up 0.5 percent in its last fiscal year, whereas Sam’s chief rival Costco saw a 6 percent increase over a similar period. For the past five years, Sam’s has lagged behind Costco’s growth — taking in $58 billion to Costco’s $110 billion.

“We want to be less of a Walmart,” Rosalind Brewer, chief executive of the warehouse-club retailer, told The Wall Street Journal.

To pursue the higher-end, more affluent shopper, Sam’s is stocking up with name-brand fashions, organic foods and fancy sheets. Mainstream shoppers have turned out to be less an asset to club stores than wealthier buyers who both plunk down cash on a membership fee and then leverage that membership to capture deals on everything from flat screens to beef tenderloins. And non-member shopping hubs are getting in on the bulk discounting act.

Sam’s is now looking to take a page from rival Costco’s book, as the nation’s second largest retailer (number two to Walmart, of course) has focused on building up in affluent areas and has seen its sales soar as a result.

Sam’s Club’s essential problem is that, despite being designed to be a totally separate type of entity from its parent company by founder Sam Walton, the store’s evolution and Walmart’s have evolved them right into direct competition more or less.

“By far, and regardless of region, Walmart is Sam’s largest competitor,” says Sara Al-Tukhaim, a director at Kantar Retail, a consulting and research firm.***

https://www.pymnts.com/news/2015/sams-club-strives-to-differentiate-itself-from-walmart/

Re: Sams Club surprise CLI amount

Anonymous — Thu, 20 Dec 2018 23:18:04 GMT

Congrats Meany 🎉🎈🎊🍾🥓🥓

Re: Sams Club surprise CLI amount

19eighty5 — Thu, 20 Dec 2018 23:31:30 GMT

Congratulations on your approval!

Re: Sams Club surprise CLI amount

Priory_Man — Thu, 20 Dec 2018 23:44:13 GMT

Congrats on your increase.

Re: Sams Club surprise CLI amount

Anonymous — Sat, 29 Dec 2018 14:46:43 GMT

I've never seen the two as competitors; here in my city the sams is right next door to the superwalmart (there are 4 other walmarts in my city as well.) We shop at both, but Sams is primarily for business owners and people with more expendable income (on the food side anyway).

What is your source/reference for walmart and sams being in competition with one another?

@Anonymous wrote:
Exactly the opposite, they are each other's biggest competitor. Many Sam's Clubs have been shuttered in the last year. They might both be owned by the same company but think of having two of the same convenience stores across the street from one another. One is taking business from the other. The company is looking for ways to make these two different entities entirely.

Re: Sams Club surprise CLI amount

AverageJoesCredit — Tue, 01 Jan 2019 00:36:23 GMT

Nice cli Meanie , Happy New Year