Sam's Club MasterCard

[Anonymous]

I'm considering applying for the Sam's Club MasterCard for my next credit card, but I'm looking for some more information about it. I usually get gas at Sam's, so getting 5% off their gas price and 3% at restaurants all year will be a good deal for me. I hope to apply by the end of the year.

I know they will pull TransUnion, and I have 6 inquiries with them, 3 of which are over one year old. By January 2016, I will be down to 5, and they will all be at least one year old. All of my accounts are in my signature (hold the mouse over the card for more info).

If I keep gardening until I'm ready for the Sam's Club card, when do you think I should apply for it? Is it better to apply at a store or online?

[Anonymous]

I'm not certain when you should consider applying, but I would say you are close, if not there.  My wife applied and it said her TU score is 719.  She was disappointed in a $2500 line, but then without asking they doubled it the next month.  The rewards sound incredible.  We have been piling on the points for travel, restaurants, until this quarter, and gas.  I wish we had more control over redemption, but it will be cool to get a check for a few hundred dollars at the end of the year. 

BTW, if you are making purchases at Sam's, go online and purchase everything with your Discover card and you will get 5% cashback, through Discover rewards.  My wife and I started doing that lately and it's awesome. 

[B335is]

It doesn't matter if you apply online or in store for SAMs, both ways consider you for MC version first. Synchrony isn't very sensitive to inquiries so having 5 versus 6 on your CR won't make much (if any) difference. I had around 720 TU Fico score at the time and got the (Discover version) instantly online.

[Anonymous]

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@Anonymous wrote:

I'm not certain when you should consider applying, but I would say you are close, if not there.  My wife applied and it said her TU score is 719.  She was disappointed in a $2500 line, but then without asking they doubled it the next month.  The rewards sound incredible.  We have been piling on the points for travel, restaurants, until this quarter, and gas.  I wish we had more control over redemption, but it will be cool to get a check for a few hundred dollars at the end of the year. 

BTW, if you are making purchases at Sam's, go online and purchase everything with your Discover card and you will get 5% cashback, through Discover rewards.  My wife and I started doing that lately and it's awesome. 

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Thanks for letting me know about that! There is another promotion from Discover that gives you a gift card if you print out their coupon and pay for your membership renewal with a Discover card. Search "Sam's Club" in Discover Deals.

[Anonymous]

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@B335is wrote:
It doesn't matter if you apply online or in store for SAMs, both ways consider you for MC version first. Synchrony isn't very sensitive to inquiries so having 5 versus 6 on your CR won't make much (if any) difference. I had around 720 TU Fico score at the time and got the (Discover version) instantly online.

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Thanks, I was wondering about the in store/online because I saw a promotion in the store that said something like "Open a card, spend $100 the same day, and get $25 off." I didn't know if there was a similar promotion online.

Also, has Synchrony changed underwriting criteria since they changed from Discover to MasterCard?

[dragontears]

When I applied for the Sam's MC card last October they pulled EX not TU......

I live in Colorado

[Anonymous]

Something silly about the Sam's Club Mastercard that you should know is that you only are able to redeem rewards once a year.  They mail you a check for the previous year's rewards and you can cash it at Sam's or use it toward a purchase there - it's not a check you can take to the bank or anything, but you can trade it in for cash at Sam's.

It is a good card.  My mother uses it and loves it.  I just personally like a little more flexibility in redemption, myself.

[Sharingan]

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@Anonymous wrote:

I'm considering applying for the Sam's Club MasterCard for my next credit card, but I'm looking for some more information about it. I usually get gas at Sam's, so getting 5% off their gas price and 3% at restaurants all year will be a good deal for me. I hope to apply by the end of the year.

I know they will pull TransUnion, and I have 6 inquiries with them, 3 of which are over one year old. By January 2016, I will be down to 5, and they will all be at least one year old. All of my accounts are in my signature (hold the mouse over the card for more info).

If I keep gardening until I'm ready for the Sam's Club card, when do you think I should apply for it? Is it better to apply at a store or online?

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I always encourage people to apply in-store if you want that store's credit card. In my case, I received my Sam's Club MC from an in-store preapproval. I didn't even have to expend a hard inquiry for the card, and I knew my CL before proceeding with the process. The respresentative also mentioned that it was the MC and not the store card.

Additionally, anecdotal evidence suggests that people generally receive higher starting limits in-store as well. Of course, I'd only do it if I was sure I would get approved. I had around a 765 TU score when I received the preapproval with 7 or 8 TU inquiries. 

[Anonymous]

it is true! they not concer much about inqu... I apply for the store card back on may (memorial wknd), and got approve with a 500.00 limit. and today not expecting it i got a letter from sam, saying that i was preaprove for the sams master card. gave them a call and to my surprice i got approve with a 3000.00 limit!!!! super dupper extremely happy!!! its my first credit card with the much limit!  and mind i have more then 15 inqu.. on my CR!!

best of luck. 

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@B335is wrote:
It doesn't matter if you apply online or in store for SAMs, both ways consider you for MC version first. Synchrony isn't very sensitive to inquiries so having 5 versus 6 on your CR won't make much (if any) difference. I had around 720 TU Fico score at the time and got the (Discover version) instantly online.

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