Home Credit Cards The Ultimate Guide to the BJ’s One+ Mastercard

The Ultimate Guide to the BJ’s One+ Mastercard

The Ultimate Guide to the BJ’s One+ Mastercard
BJ's Wholesale Club Credit Card | Capital One
Source – capitalone

BJ’s One+ Mastercard offers several attractive features for potential cardholders. Firstly, it comes with an annual fee of $0, making it a cost-effective choice. While there is no welcome bonus, the rewards program is quite appealing. Cardholders can enjoy 5% cash back on most in-club and BJs.com purchases, making it a great option for frequent shoppers at BJ’s. Additionally, they can earn 2% cash back on all other purchases, further boosting their savings.

It’s important to consider the APR when choosing a credit card, and the BJ’s One+ Mastercard offers a variable APR ranging from 19.99% to 29.99% on purchases and balance transfers. This means that the APR may fluctuate depending on the cardholder’s creditworthiness.

For members who regularly fuel up at BJ’s Gas, there’s an added benefit of 15 cents off per gallon, which can lead to significant savings over time. Moreover, being a World Mastercard holder, users can enjoy additional benefits and privileges associated with the Mastercard network.

About the BJ’s One+ Mastercard

The BJ’s One+ Mastercard, in collaboration with BJ’s Wholesale Club, is a store credit card issued by Capital One. BJ’s Club+ members can enjoy a variety of benefits, including 5% cash back on most in-club and BJs.com purchases and 2% cash back on all other purchases. Additionally, cardholders receive a discount of 15 cents per gallon at BJ’s Gas, adding to their savings.

For loyal BJ’s shoppers, the card’s potential savings make up for the absence of extra benefits beyond BJ’s premises. Although it comes with no annual fee, it does require a BJ’s Club+ membership, which costs $110 annually. To break even with the membership cost, one would need to spend approximately $2,200 per year at BJ’s. However, frequent BJ’s fuel and merchandise shoppers will find significant value in owning the card.

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BJ’s One+ Mastercard provides bonus rewards for purchases made at BJ’s stores and through the BJ’s club website or app. Unlike typical store cards, this credit card is open-loop, allowing you to earn rewards on eligible purchases outside of the wholesale club wherever Mastercard is accepted. The card offers 5% cash back on most in-club and BJs.com purchases, and 2% cash back on all other transactions. The rewards never expire as long as you maintain an active membership, and there are no earning caps.

When it comes to redeeming rewards, the options are limited to BJ’s offerings. You can use your accumulated rewards to pay for in-store, online, and in-app purchases from BJ’s. Additionally, rewards can be applied towards BJ’s membership fees. However, keep in mind that there is a $10 minimum rewards balance required for redemption, and your purchases or other transactions must be at least $10 to apply your rewards.

BJ’s One+ Mastercard APR

The BJ’s One+ Mastercard offers a variable APR on purchases and balance transfers, which can be either 19.99%, 25.99%, or 29.99%. One advantage of this card is that there are no balance transfer fees when moving existing debt onto it. However, if your goal is to pay off a balance more quickly, you may find better options with balance transfer cards that have 0% APR introductory offers. It’s essential to consider your financial situation and needs before choosing a credit card that suits you best.

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BJ’s One+ Mastercard rewards potential

Estimation of Household Income and Expenses: Based on publicly available data, we have estimated that the average household in the U.S. seeking this card has an annual income of approximately $84,352, along with estimated expenses of $25,087 that can potentially be charged to a credit card.

BJ’s Rewards and Membership Cost: A typical cardholder would earn approximately $605.51 in BJ’s rewards. However, it’s important to note that this card requires a BJ’s Club+ membership, which comes with an annual fee of $110. When calculating potential rewards each year, this membership cost should be factored in.

Savings at BJ’s Gas Stations: Cardholders can enjoy a 15 cents per gallon discount when they refuel at BJ’s gas stations. Considering the average U.S. gas price of $3.57 per gallon as of July 2023 (according to AAA data), the BJ’s discount would bring the average price down to $3.42 per gallon, providing significant savings on fuel expenses.

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Should you get the BJ’s One+ Mastercard?

Card Fit for BJ’s Wholesale Clubs Shoppers: If you frequently shop at BJ’s Wholesale Clubs and spend a significant amount there annually, this card could be a suitable choice for you. It offers savings and rewards on store purchases, making it a good fit for loyal BJ’s shoppers. However, if you don’t live near or shop at BJ’s Wholesale Club, this card may not be the right option for you.

Consider Spending Habits Outside BJ’s: For those whose monthly spending occurs mostly outside BJ’s or at other wholesale clubs, the $110 membership price might not be justified. To break even with the annual fee, you would need to spend at least $2,200 annually at BJ’s, which may not be feasible for everyone. In such cases, a flexible cash-back card that offers rewards across various spending categories could be more advantageous.

Preference for Shopping at Multiple Places: If you prefer shopping for groceries and other household needs at various places rather than sticking to one wholesale club, a card that offers more versatile cash-back options may be a better fit. Opting for a card with broader rewards categories will allow you to earn greater rewards on your diverse spending habits.

BJ’s One+ Mastercard summary

Annual fee$0
Rewards5% cash back on most in-club and BJs.com purchases and 2% cash back everywhere else
APR19.99%, 25.99% or 29.99% variable APR on purchases and balance transfers
Welcome bonusNone
Foreign transaction feesN/A
Other perks and benefits15 cents off per gallon at BJ’s Gas and World Mastercard benefits