cancel
Showing results for 
Search instead for 
Did you mean: 

Sams Business Card vs Citi Costco Business

bloccoblu
Contributor

Sams Business Card vs Citi Costco Business

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.

Message 1 of 24
23 REPLIES 23
SACT51
Frequent Contributor

Re: Sams Business Card vs Citi Costco Business


@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.

Message 2 of 24
bloccoblu
Contributor

Re: Sams Business Card vs Citi Costco Business

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

Message 3 of 24
SACT51
Frequent Contributor

Re: Sams Business Card vs Citi Costco Business


@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.

Message 4 of 24
imaximous
Valued Contributor

Re: Sams Business Card vs Citi Costco Business

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%.
AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 5 of 24
bloccoblu
Contributor

Re: Sams Business Card vs Citi Costco Business

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.

Message 6 of 24
bloccoblu
Contributor

Re: Sams Business Card vs Citi Costco Business

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.

Message 7 of 24
imaximous
Valued Contributor

Re: Sams Business Card vs Citi Costco Business


@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.

 

AMEX | BofA | Barclays | Cap One | Chase | Citi | Discover | GS | PenFed | SYNCB (PP MC, Lowe's, Amazon, PP Credit) | US Bank
Message 8 of 24
SACT51
Frequent Contributor

Re: Sams Business Card vs Citi Costco Business


@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.

Message 9 of 24
bloccoblu
Contributor

Re: Sams Business Card vs Citi Costco Business

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.

Message 10 of 24
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.