topic Sams Business Card vs Citi Costco Business in Business Credit

Sams Business Card vs Citi Costco Business

bloccoblu — Wed, 06 Jan 2021 01:53:57 GMT

Im looking for a business credit card to use where AMEX business cards not accepted. Any benefits or drawbacks of Sams Business Credit card over Costco Citibank card? Any info would be greatly appreciated.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Wed, 06 Jan 2021 04:55:54 GMT

@bloccoblu wrote:
Im looking for a business credit card to use where AMEX business cards not accepted. Any benefits or drawbacks of Sams Business Credit card over Costco Citibank card? Any info would be greatly appreciated.

Sams is No PG, issued by Sync and fairly easy to get as long as your business has some established credit. Costco is issued by Citi, requires a PG and IMO Citi tends to be a bit stingy with it's limits.

I app'd for Sams when my business was less than 1 year old, with almost no credit, and received the store card for $1k limit. I used the card a few times for less $100 and requested a cli after 4 months and went to $5k. Then after another 6 months I requested another cli went to $10k. A month later I went back to Sams and app'd for the Mastercard since I wasn't approved for the Mastercard the 1st time around, and was approved for Mastercard $8k. Never used the Mastercard and requested cli after 4 months of no use, and went to $15k.

So I have Sams Business Store Card at $10k and Business Mastercard at $15k, both with NO PG. So IMO you should go for the Sams cards over Costco.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Wed, 06 Jan 2021 13:30:56 GMT

Thanks for your response. I’m only really interested in the MasterCard not in store credit. I have business credit but only 1 or 2 tradelines (net 30) since Amex doesn’t report. Do I need to do instore first or could I just apply for Mastercard? Thanks again

Re: Sams Business Card vs Citi Costco Business

Anonymous — Wed, 06 Jan 2021 18:58:29 GMT

@bloccoblu wrote:
Thanks for your response. I’m only really interested in the MasterCard not in store credit. I have business credit but only 1 or 2 tradelines (net 30) since Amex doesn’t report. Do I need to do instore first or could I just apply for Mastercard? Thanks again

You have to app in the store, and sync will try 1st to approve you for the Mastercard, and if they can't, then they try to approve you for the store card. When you app in the store, they almost always call your business while you're on the phone with Sync in the store, to verify your business, so if there's no one at the business, while you're at the store, be sure any calls to your business phone, ring your cell phone, so you can answer and verify. If they approve your application, they will tell you it's approved, you can ask if its the mastercard or store, and if its store and you don't want it, then you can tell them no thank you, and they won't complete the account opening. But there is at least a 50 50 chance of getting the Mastercard, so you should give it a go.

Re: Sams Business Card vs Citi Costco Business

imaximous — Wed, 06 Jan 2021 22:11:08 GMT

Does the actual club membership matter to you? If it does, you should also take into account where you'd like to shop.

I much prefer to shop at Costco, so that was the deciding factor rather than picking the card first.

I also noticed that Sam's pays 1% when using the card at Sam's. Costco pays 2%.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Wed, 06 Jan 2021 22:24:00 GMT

Thanks for explaining. I’m a sole prop so the phone call when they’re standing right there seems that it may be a bit ackward but I suppose necessary. Sounds like Sam’s would report to my business credit report which would be a major plus.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Wed, 06 Jan 2021 22:28:24 GMT

No the place for shopping doesn’t matter so much and I never really thought about it that way but perhaps should. I just basically want a card for purchasing where Amex isn’t accepted. I know citi has the American Airlines card but I’m not interested in those points. I also have a citi card and thought that existing relationship may help. Thanks for pointing out the difference in cash back percentage.

Re: Sams Business Card vs Citi Costco Business

imaximous — Thu, 07 Jan 2021 05:52:58 GMT

@bloccoblu wrote:
No the place for shopping doesn’t matter so much and I never really thought about it that way but perhaps should. I just basically want a card for purchasing where Amex isn’t accepted. I know citi has the American Airlines card but I’m not interested in those points. I also have a citi card and thought that existing relationship may help. Thanks for pointing out the difference in cash back percentage.

I think it's important where you're planning on shopping. Otherwise, you might as well get any other biz card without having to pay for a club membership. There are plenty of cards out there if you just want any backup card.

Another thing to consider is that the cards are attached to your club membership. For instance, if you cancel your Costco membership, you also lose the credit card. You can't keep the card alone. I believe the same applies for Sam's. So, the day we don't want to shop at Costco anymore, we'll be basically losing our personal and biz Costco credit cards.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Thu, 07 Jan 2021 15:13:22 GMT

@bloccoblu wrote:
Im looking for a business credit card to use where AMEX business cards not accepted. Any benefits or drawbacks of Sams Business Credit card over Costco Citibank card? Any info would be greatly appreciated.

No PG business credit lines are a dwindling option these days, but IMO most business owners would prefer to not personally guarantee a business credit line. So Sams Club doesn't require a PG, unlike Costco, so thats something to consider. I'm also not sure about Costco membership types, but Sams used to require seperate memberships, but no longer does. Sams simply adds a business profile to a personal membership and that allows you to apply for the business credit cards.

Best of luck in which ever route you choose.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Thu, 07 Jan 2021 21:42:18 GMT

I went ahead and applied for the Sams business card as I already had a business membership and also liked the idea of no hard pull on personal. The associate entered minimal information which I was suprised by. She didnt enter DUNS number just EIN and business type. The account went pending so she called. They only asked that she verify the business address and phone number she entered. (I believe she entered something inaccurately). Then within a minute or 2 they said approved for the store card 2500 limit. I have scores on all business credit reports but minimal accounts so Im assuming that to be the reason for not getting the mastercard with no PG. Ill just use it at walmart for shipping supples and apply for the mastercard in about 3 months. Hopefully theyll approve it otherwise Ill just go ahead and go for a business card using my guarantee. Thanks again for all the helpful insight.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Fri, 08 Jan 2021 05:24:48 GMT

@bloccoblu wrote:
I went ahead and applied for the Sams business card as I already had a business membership and also liked the idea of no hard pull on personal. The associate entered minimal information which I was suprised by. She didnt enter DUNS number just EIN and business type. The account went pending so she called. They only asked that she verify the business address and phone number she entered. (I believe she entered something inaccurately). Then within a minute or 2 they said approved for the store card 2500 limit. I have scores on all business credit reports but minimal accounts so Im assuming that to be the reason for not getting the mastercard with no PG. Ill just use it at walmart for shipping supples and apply for the mastercard in about 3 months. Hopefully theyll approve it otherwise Ill just go ahead and go for a business card using my guarantee. Thanks again for all the helpful insight.

Congratulations on the approval. I know it's not what you wanted, but like I mentioned, I was approved for the Mastercard a 3 or 4 months after being approved for the store card, so definetely give it another try in a few months.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Wed, 13 Jan 2021 16:15:17 GMT

I found out today that the cashier entered the incorrect address and didnt even enter my DUNS number at all from my sams application. Underwriting also advised that since my first application was actually approved I would have to apply again in store to see if something different is approved. Do you know if I should wait a certain number of days before applying for the mastercard? I dont want a denial because of timing. Thanks for any info

Re: Sams Business Card vs Citi Costco Business

Anonymous — Wed, 13 Jan 2021 17:00:09 GMT

@bloccoblu wrote:
I found out today that the cashier entered the incorrect address and didnt even enter my DUNS number at all from my sams application. Underwriting also advised that since my first application was actually approved I would have to apply again in store to see if something different is approved. Do you know if I should wait a certain number of days before applying for the mastercard? I dont want a denial because of timing. Thanks for any info

I've heard there's no time limit on applying again, however I have no idea how that affects approval. Since it's a NO PG card and inquires don't affect business credit like it does personal, I would apply again now, and if given the opportunity to speak to the Sync rep, I would express to them, you're seeking the Mastercard.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Wed, 13 Jan 2021 17:37:46 GMT

Ok. Thanks for your promt reply.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Sat, 23 Jan 2021 22:13:41 GMT

@Anonymous wrote:
@bloccoblu wrote:
I found out today that the cashier entered the incorrect address and didnt even enter my DUNS number at all from my sams application. Underwriting also advised that since my first application was actually approved I would have to apply again in store to see if something different is approved. Do you know if I should wait a certain number of days before applying for the mastercard? I dont want a denial because of timing. Thanks for any info
I've heard there's no time limit on applying again, however I have no idea how that affects approval. Since it's a NO PG card and inquires don't affect business credit like it does personal, I would apply again now, and if given the opportunity to speak to the Sync rep, I would express to them, you're seeking the Mastercard.

Any update on your Sams Club Mastercard? Did you get to apply again? I applied in store today and had the same exact experience where the application was submitted by cashier without my DUNS number and my personal number instead of business number.

Thinking of applying again after a few days. BTW, how old is your business?

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Sat, 23 Jan 2021 22:24:15 GMT

Sorry to hear about that i dont think they have any clue how important that info is.

I didn’t reapply yet. I decided to use the card for 3 months to establish myself with them then go again insist that she enter my information completely and properly and hope for the MasterCard. I was thinking the other day though since she didn’t take my DUNS number if itll even report. Ill know in 2 months I suppose.

My business is 2 years old.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Sun, 24 Jan 2021 03:38:52 GMT

@bloccoblu wrote:
Sorry to hear about that i dont think they have any clue how important that info is.

I didn’t reapply yet. I decided to use the card for 3 months to establish myself with them then go again insist that she enter my information completely and properly and hope for the MasterCard. I was thinking the other day though since she didn’t take my DUNS number if itll even report. Ill know in 2 months I suppose.
My business is 2 years old.

When I went back into apply for the Mastercard, I asked for a manager, when he arrived at the desk, he scanned the bar code of the back of my store credit card and then he asked me to look over the information that populated on the screen, and it was all my business info. I can't remember if he entered any additional info, but I'm sure I had our DUNS# on the paper app I took to the store. Anyway, the iPad told him to call, he did, the Sync rep asked to speak to me, and verified all the basic info, put me on hold, came back after a few and said congratulations your application is approved, I asked was it the store or mastercard, he replied it was the mastercard.

I have heard of some people getting approved for multiple store cards when trying for the mastercard, but if that happens and you don't want a 2nd store card, them I'm sure you can decline or if thats not an option at that time, you can call when the card for the 2nd store account arrives and close it.

Chances are though, if your business has a decent report, and you use the store card for a couple of months, you'll get the Mastercard the next time you apply.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Fri, 29 Jan 2021 06:17:25 GMT

I appreciate you starting this thread and all that participated in it. I’ve been trying to find a way to get a business card going without a PG. after reading this at work today, I stopped at Sams on my way home. The CS rep converted my membership to a business, no problem. Asked for business name, phone, EIN. I was sure to ask her to enter my DUNS. I’m not sure she’s ever done a business card app before because she said the application came back as “referred”, wrote down a phone number, told me to call it and sent me on my way. I called the number right then and walked around the store while on the phone with them. After being transferred 3 times, they asked for a reference number, which I wasn’t given lol. I verified the business info again, boom approved for $3.5K just like that. Crazy because I only have Quill reporting and it’s been a while since attempting any business credit. Checked Nav today and DUNS is reporting Grade “A” FWIW. Business started Oct 2019. Long story short, thanks for the thread! Literally made my day.

Re: Sams Business Card vs Citi Costco Business

bloccoblu — Fri, 29 Jan 2021 10:21:16 GMT

Congratulations!!!!im glad you benefited from the thread. I’ve definitely have benefited from this forum on both the personal and business side of things.

I wish you much success in the future.

Re: Sams Business Card vs Citi Costco Business

Anonymous — Fri, 29 Jan 2021 21:24:16 GMT

@Anonymous wrote:
I appreciate you starting this thread and all that participated in it. I’ve been trying to find a way to get a business card going without a PG. after reading this at work today, I stopped at Sams on my way home. The CS rep converted my membership to a business, no problem. Asked for business name, phone, EIN. I was sure to ask her to enter my DUNS. I’m not sure she’s ever done a business card app before because she said the application came back as “referred”, wrote down a phone number, told me to call it and sent me on my way. I called the number right then and walked around the store while on the phone with them. After being transferred 3 times, they asked for a reference number, which I wasn’t given lol. I verified the business info again, boom approved for $3.5K just like that. Crazy because I only have Quill reporting and it’s been a while since attempting any business credit. Checked Nav today and DUNS is reporting Grade “A” FWIW. Business started Oct 2019. Long story short, thanks for the thread! Literally made my day.

Congratulations! Any idea if it was business store or Mastercard? If it's store, I would recommend using it for 3 months and then go back and apply again to see if you get the Mastercard.