Champaign - Circa August 2019: Sam's Club Warehouse. Sam's Club is a chain of membership only stores owned by Walmart IV. concept: Sam’s Club Business Credit
Derek Tallent
By: dtallent
Read in 13 minutes

Sam’s Club Business Credit Card: Everything You Need To Know

As a business owner, you already know that you need to save as much money as possible when it comes to purchases. Fortunately, brand retailers focus more on becoming suppliers for a variety of businesses to stay competitive. That’s exactly why the famous retailer created the Sam’s Club Business Credit Card program.

In this article, we will delve into this program, including its benefits, drawbacks, and how to sign up for an account.

Smiling girl holding Sam's Club Business Credit Card

What is the Sam’s Club Business Credit Card?

green-colored Sam's Club commercial Credit Card    blue-colored Sam's Club membership card

This is essentially the same as other business credit cards, except for this specific retailer (if you are already a Sam’s Club member, then the Sam’s Club credit business card will double as your membership card). 

Sam’s Club credit business card at a glance

Annual fee None
Annual Percentage Rate (APR) for Purchases 24.40%
Penalty APR 29.99%
Late payment fee $15.99-$39.99
Returned Check Fee $15.00-$38.00
Grace Period 20 days
Method of Computing the Balance Daily balance
Minimum Finance Charge $2.00
Accepted at: Sam’s Club and Walmart

*Do not confuse it with the Sam’s Club Business MasterCard

Sam’s Club Business Credit Card Benefits

Like most other commercial credit programs, the Sam’s Club credit card for business gives users some unique benefits that could make it a good option for you. Here’s a list of the Sam’s Club business credit card rewards:

illustration of a Billing Statement, sam's club business credit card benefits

Monthly Itemized Billing Statements

Member businesses will get monthly itemized billing statements for all of their purchases. Itemized billing statements mean every purchase is listed line by line, making it easier for you to account for all your purchases and see precisely where you are spending the most.

logos of walmart and sams club benefit

Eligible for Purchases at Sam’s Club and Walmart

Sam’s Club is a subsidiary of Walmart Inc. That means you can use your credit at any Sam’s Club location or any Walmart, giving you more flexibility.

illustration of 3 employees that are Authorized Users of the sam s club card

Add and Control Authorized Users

Authorized users are employees you allow to use your account, so you don’t have to do all of the shopping yourself. You can also track how much each employee is spending.

dollar signed crossed representing no annual fee for the sam s club credit card

No Annual Fee

Pretty self-explanatory, but unlike other commercial credit cards, it doesn’t have an annual fee.

one hand holding money, the other a credit card, representing cash back rewards

Earn Cash Back

Like a typical credit card, you can receive cashback on all of your purchases. Since commercial spending tends to be larger, you likely will be able to get even more cashback.

illustration of hand holding phone reviewing sam s club credit online management

Online Account Management

Users can manage their accounts on the card’s website. This includes viewing current or previous statements, paying bills, requesting a credit line increase, updating information, etc.

Young man holding Sam's Club Business Credit Card in one hand, and smartphone in the other

Sam’s Club Business Credit Card Application

The process to apply for the Sam’s Club credit business card is very straightforward. You just need to fill a credit application and provide some relevant information and documents.

Just print and fill the application and visit your local Sam’s Club.

Here is a list of some of the information you will need to provide on your application:

  • Business name, address, and phone number
  • Billing representative’s name
  • Year business established
  • Monthly spending
  • Number of Employees
  • Type of Business and how it was incorporated (sole proprietorship, corporation, etc.)
  • Personal Guarantor information (only required for certain businesses)

#DidYouKnow
There’s also a Best Buy for Business Commercial Program.

Do you Need a Good Credit Score?

They will base their approval not only on your application but on your business credit. Therefore, it is very rare for any business below a “good” credit score to get approved. That means you probably need a score of 700 or more.

Pros and Cons of the Sam’s Club Business Credit Card

Like anything else, the Sam’s Club credit card for business has its advantages and drawbacks. Below are some pros and cons so you can better decide if this business credit is right for you and your business:

Advantages

  • Easy Sign-Up- Signing up for a business credit account at the store is pretty straightforward and quick. If you need credit for fast purchases, you would be in luck signing up for Sam’s Club business credit.
  • Variety of Goods- There are a lot of different items that you can purchase to help your business. Giving purchase options is crucial because you want to make as many purchases at Sam’s Club or Walmart as possible to take advantage of your deals.
  • Cash Back- Getting cashback on purchases is a big deal, especially when you are a business. Saving any way you can is essential, so earning some of your money back on purchases can help your business save some capital for future use.
  • Ability To Add Authorized Users- If you don’t want to make every purchase for yourself, you can add users who can use your account and even see exactly how much they spent.

Disadvantages

  • Not a Business Credit Card- The Sam’s Club credit card for business is not like traditional business credit cards, as you can only use it for purchases at Sam’s Club and Walmart. You would not want to get this card if you never shop at Walmart or Sam’s Club.
  • Limits your buying options- Sam’s Club is great for stocking your home supplies and will be very helpful many times for your business, but any credit store will only allow you to buy there, and most likely, you won’t find everything your business needs at Sam’s, so, at some point, you’ll have to find other providers, maybe with better prices, and you’ll need some other type of financing.
  • You’ll add debt to more companies- If you’re running a small or medium business, you must know that it’s not good to have debt with multiple companies. If you get a credit card for every store where you buy, you’ll have many people buying in different places, and it will be harder to keep track of what you owe.
  • Might Not Save You That Much Money- Whether a business credit card saves you money is often dependent on the card and your purchases. Most of the time, finding the right business credit card will save you more money in the long run as you can make cashback and other rewards on all of your purchases, not just at a specific retailer. Plus, items will still cost you the same whatever payment method you use.
  • Membership Required- While there is no annual fee for the Sam’s Club business credit card, you do need a Sam’s Club membership to get the card, which has an annual fee of $45.
  • You don’t need the credit card to shop there. It links to the last point: if you already have the membership, you can shop at Sam’s Club using your business capital. If a lender financed your company with a loan, you just need to keep making your payments as usual.
  • Credit Dependent- If you have had trouble with your business credit in the past, you might have a problem getting approved.

#CaminoTip
Building your credit is not as hard as you might think. You can improve your credit score in 60 days.

Man completing his sam's club business credit card application on his smartphone

What About the Sam’s Club Business Mastercard?

The retailer also offers a MasterCard credit card. The best thing about the MasterCard is that you can use it anywhere, and not just in Sam’s Club and Walmart. It has the following benefits:

  • Cashback 5% for gas, 3% for dining and travel expenses, and 1% on all other purchases (there’s a cap of $5,000 per year)
  • No annual fees
  • Free employee cards

Other Inventory Financing Options

A store credit card is not quite financing for your business, they will help you with your purchases at that store (and will be a benefit for them since it makes you shop there), but it won’t affect the growth or success of your business, it won’t have an impact on your business plan. So, if you’re running a medium or small business, what other options do you have when you need inventory financing?

Camino Financial Business Loans vs. Sam’s Club Credit Card for Business

There is an abysm between both options since a small business loan is meant to boost your business as a whole, and it will impact different aspects, while a store credit card is a payment method in that store.

Learn more here about business credit cards vs. Camino Financial business loans.

Camino Financial Business Loans for Inventory Financing

You can apply online with the basic documents from your business, and someone specialized in business loans will review your case and will tell you what is the best financing option for you, and sooner than you think, you will have the money in your bank account.

Fintechs like Camino Financial have made it much easier to get the right financing for your company without all the obstacles from the past. As a result, business owners have freedom with the credit they receive.

The main difference from a store credit card is that the money is not conditioned for some particular use, store, product, etc. Instead, you decide what your business needs and use the money to invest in that.

Male Florist Outside Shop smiling thanks to sam's club business credit card benefits

Is a Sam’s Club Business Credit Card Right for You?

We hope that this post cleared up what Sam’s Club business credit is and why it might benefit you and your business.

If you realized that a business credit card is not the right financial tool for you, there are other options. One of which is a small business loan.

A small business loan will help you invest in what really matters to you and will help your small business grow. So why not give a loan a chance and see how your company starts succeeding?

At Camino Financial, we always strive to fulfill our motto: “No Business Left Behind,” and we do it by offering business loans with the best terms, as well as creating a community of small business owners.

We have made it easier to have access to business financing; now, you can know in advance how much you would pay monthly depending on how much you ask and receive, using a business loan calculator.

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Reach out to us, apply online, and we’ll match your business with the best financing solution we can offer.

 

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