Sam’s Club to offer cash back credit card, chip-enabled technology
by June 3, 2014 9:40 pm 98 views
Sam’s Club, in the midst of trying to generate more traffic and raise sagging sales, announced Tuesday (June 3) a new cash back credit card program with its co-branded MasterCard, issued by GE Capital Retail Bank. The new card will also contain chip-enabled technology for more security in the wake of Target’s data breach during the 2013 holiday season.
Starting June 23, the Sam’s Club 5-3-1 cash back program will provide qualifying members the opportunity to earn 5% cash back on fuel, 3% cash back on dining and travel and 1% cash back on all other purchases up to $5,000 annually, the company noted in its release.
“We’re always looking for ways to find time and money-saving solutions for our members. The 5-3-1 Sam’s Club program and co-branded MasterCard mean industry-leading savings and security innovation for today’s consumer,” said Rosalind Brewer, president and CEO of Sam’s Club … Club members can earn up to $5,000 cash back annually. That could cover a family of four’s travel to Disney, or five sets of laptops and wireless phones for a small business. We believe this value is the best in the industry.”
Each credit card has an embedded chip that makes the card more difficult to duplicate, which provides enhanced security from fraudulent activity.
“MasterCard has taken a strong stance on the need for the U.S. market to make the transition to chip-enabled credit cards for the benefit of cardholders and merchants alike,” said Chris McWilton, president North America, MasterCard. “This move by Sam’s Club makes them a trailblazer in getting chip cards in the hands of businesses and consumers, and leading the push toward a safer and more secure customer experience. This will no doubt help drive chip-enabled technology forward here in the U.S. as it gains more traction.”
For additional details on the Sam’s Club credit card cash back program, visit SamsClub.com/newsroom.