A new Sam’s Club Amex Offers popped up today week where you can spend $50 and receive $10 in statement credits. A great deal especially since Sam’s Club sells many merchant gift card and MasterCard gift cards! While this might be a targeted offer, it seems to be available on most of my accounts. This offer is only available for purchases through SamClub.com (online) and NOT in-store purchases. The $30 can be split amongst one or more transaction by must hit your account by October 17, 2018. 

To register: 

• Go to AmericanExpress.com and register for the offer.
• Make your $50+ purchase at SamClub.com by October 17, 2018.

Maximizing the Deal

Unfortunately taking advantage of this offer on multiple American Express cards on your account will no longer work – you are now limited to one statement credit per account. But you can still make money, just not as much! The best “money making opportunity” involves purchasing a $50 prepaid gift cards, which costs $53.88 with the tacked on fee. If you are not a Sam’s Club member they will add on an additional 10% fee. While you are spending more money then what the gift card is worth, it will trigger the $10 statement credit. So you’ll only be paying $43.88 for a $50 gift card that you can use at most merchants.

Now, if both you and a significant other have this offer saved to your account, Sam’s Club allows you to use two credit cards at a time when paying for your purchase. So you can purchase a $100 prepaid gift card for $105.38. This will save you a few bucks over purchasing them individually. 

And remember, you can actually purchase whatever you want from Sam’s Club and receive the $10 statement credit, it doesn’t have to be a prepaid gift card. It can be your regular use items from Sam’s Club or another merchants gift card, i.e., Southwest, Cheesecake Factory, Disney, Build a Bear, etc. Or, you can even purchase a Sam’s Club gift card to use at a future time in-store!

If you do not have a Sam’s Club membership, you can still shop online:

• Sam’s Club adds a 10% service charge for non-members, so that will reduce your profit, you’ll still come out ahead
• If you live in California, South Carolina and Elmsford, New York you do not need to pay the 10% service fee. I believe you just need your account to be set up with an address in one of those places, I do not believe your item actually needs to be shipped to that same address. Readers, please comment below with your experience.
• Find a friend who is a member and have them purchase your item and use your credit card
• Purchase a discounted membership via Groupon or Living Social (when available)

This is a great opportunity, especially since it doesn’t matter if you live near a Sam’s Club or not. I’ll be sure to put together a post on fully maximizing this deal with other items as well. Remember, enrollment is limited, so enroll now.