Sam's Club Begins Accepting American Express Cards
Today, Sam’s Club began accepting American Express cards in its chain of warehouse retail stores.
American Express is also making a limited time offer to eligible cardholders for use at Sam’s Club locations. For the month of October, American Express cardholders can receive a one-time $25 statement credit after they use an enrolled, eligible American Express Card to spend $45 or more on a new Sam’s Club membership in-store.
Sam’s Club, a division of Walmart, is the country’s eighth largest retailer with 653 stores in the United States and Puerto Rico. The warehouse retailer currently serves 500,000 small businesses a day in nearly every part of the country, so this is a significant opportunity for American Express cards.
Earlier this year, American Express lost its longstanding contract with Costco, a close competitor to Sam’s Club offering wholesale prices for bulk purchases. In March of 2016, Costco will no longer support American Express as its exclusive credit card company in favor of a new partnership with Citigroup and Visa. American Express said this loss will hurt the company’s profits for the next two years, but the new deal with Sam’s Club could help soften the blow.