Capital One Unveils 3 New Credit Card Options for BJ's Wholesale Club (2024)

If you are a BJ’s Wholesale Club customer, you are going to have some new rewards credit card options in 2023.

Capital One recently revealed details on three new BJ’s co-branded credit cards that are set for release on February 27.

This is a follow-through on a 2022 announcement that the popular credit card issuer would be taking over as the official co-branded card partner for the wholesale club.

Existing BJ’s customers who have a co-branded credit card that was issued by Comenity will automatically be switched over to a new card issued by Capital One. These customers may have already received communication from Capital One explaining the transition.

Let’s take a look at what Capital One will be offering with these new cards.

3 New BJ’s Wholesale Club Co-Branded Credit Cards from Capital One

There are going to be three co-branded BJ’s Wholesale Club credit cards offered by Capital One. Two are personal cards and the other is a business card.

Existing cardholders will be placed in a new Capital One card based on the Comenity-backed card they already have in their wallet. New customers will have to wait to apply for these cards. They are not yet available.

Here’s a quick breakdown of each of the new options:

BJ’s OneMastercard®

Capital One Unveils 3 New Credit Card Options for BJ's Wholesale Club (1)

Annual Fee: $0

Card It Is Replacing: BJ’s Perks Plus® Mastercard® Credit Card

Card Processor Program: World Mastercard®

Rewards Structure

  • 3% back in rewards on most BJ’s purchases
  • 10 cents off per gallonat BJ’s Gas®
  • 1.5% back in rewards everywhere elseMastercard®is accepted

BJ’s One+™ Mastercard®

Capital One Unveils 3 New Credit Card Options for BJ's Wholesale Club (2)

Annual Fee: $0

Card It Is Replacing: BJ’s Perks Elite® Mastercard® Credit Card

Card Processor Program: World Mastercard®

Rewards Structure

  • 5% back in rewardson most BJ’s purchases
  • 15 cents off per gallonat BJ’s Gas®
  • 2% back in rewards everywhere elseMastercard®is accepted

BJ’s Business EliteMastercard®

Capital One Unveils 3 New Credit Card Options for BJ's Wholesale Club (3)

Annual Fee: $0

Cards It Is Replacing: BJ’s Business Perks Plus® Mastercard® and BJ’s Business Perks Elite® Mastercard®

Card Processor Program: World Elite Mastercard®

Rewards Structure

  • 5% back in rewardson most BJ’s purchases
  • 15 cents off per gallonat BJ’s Gas®
  • 2% back in rewards everywhere elseMastercard®is accepted

4 Things To Know About the New Capital One BJ’s Wholesale Club Cards

While we don’t have all of the details on the perks for these new credit cards just yet, I did find some useful information after visiting the terms provided by BJ’s and the FAQ page on these cards provided by Capital One.

Let’s walk through what we know so far.

1. These Appear To Be Solid Rewards Programs With No Annual Fee

First, let’s talk about the new rewards program with Capital One.

The BJ’s One+™ Mastercard® and BJ’s Business EliteMastercard® are offering 2% back on all purchases outside of BJ’s Wholesale Club, which is on par with what money expert Clark Howard says you should seek from an everyday spender. That’s great!

Throw in 5% back at BJ’s Wholesale Clubs and 15 cents per gallon off BJ’s Gas and you really have my attention. Either of these cards could be a smart choice for personal or business BJ’s customers.

The rewards rates are great, but that leads us to the redemption options.

2. How You Can Redeem Your Rewards

While the rewards returns are as good if not better than many cash back credit cards on the market, it’s worth noting that your redemption options are more limited than a standard cash back card.

You’re going to be required to use your rewards within the BJ’s ecosystem. Some things to note:

  • Rewards are only redeemable for eligible purchases and membership fees at BJ’s checkout in-club, on BJs.com or on the BJ’s mobile app.
  • Rewards must have a minimum balance of $10 to redeem.
  • The purchase on which the rewards are applied must be at least $10 at BJ’s checkout and greater than or equal to the reward redemption amount.
  • Use of rewards will not create a negative cash register or checkout balance at BJ’s.

3. These Items Are Excluded From the Rewards Bonuses for BJ’s Wholesale Club Purchases

You’ll notice that all three cards above have enhanced credit card rewards for “most” purchases made at a BJ’s Wholesale Club. After digging into the fine print a little, I found what you can expect to be included or excluded when it comes to earning rewards by paying with the credit card.

Included:

  • Most purchases of goods and services in-club at BJ’s front-end registers, online at BJs.com or in the BJ’s app minus any redeemed rewards, returns, refunds or credit adjustments.

Excluded:

  • Shipping costs
  • Sales tax
  • Bottle deposits
  • Alcoholic beverages
  • Cigarettes and tobacco-related products
  • Lottery tickets
  • Gift cards
  • Propane
  • BJ’s Gas® (you get your gallon discount instead)
  • Online optical purchases
  • Membership fees and add-ons
  • Warranties and protection plans
  • BJ’s services provided by third parties (e.g., BJ’s Travel®)
  • BJ’s B2B and BJ’s Global Sales transactions

4. The Credit Card Has Your BJ’s Membership Attached

Your BJ’s membership number will be on the back of your issued credit card.

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You also can pay your BJ’s membership dues automatically with the card via the BJ’s Easy Renewal option.

Final Thoughts

If you’re really into shopping at BJ’s Wholesale Club, there are several reasons to be excited about these new Capital One offerings.

You can get up to 5% back on purchases within the BJ’s ecosystem, great discounts on gas and at least 1.5% cash back on purchases made everywhere else.

But you have to redeem your rewards with purchases made at a BJ’s Wholesale Club or with BJ’s online. So that limits you from putting the rewards back into your pocket as cash.

However, if you know that you’d have an easy time redeeming the rewards on everyday purchases you would have been making at the club anyway, then the rewards may have a “full cash value” to your household.

Will one of the new Capital One-back BJ’s credit cards interest you? We’d love to hear your thoughts in the Clark.com community.

As a seasoned financial expert with a deep understanding of credit cards and co-branded partnerships, I can provide a comprehensive analysis of the information presented in the article about the new BJ’s Wholesale Club Co-Branded Credit Cards from Capital One.

The announcement by Capital One regarding the release of three new co-branded credit cards for BJ’s Wholesale Club customers in 2023 is a significant development. This follows the earlier revelation in 2022 that Capital One would become the official co-branded card partner for BJ’s Wholesale Club, taking over from Comenity.

Let's delve into the key concepts and details mentioned in the article:

  1. Overview of the New Cards:

    • Capital One is introducing three co-branded BJ’s Wholesale Club credit cards: BJ’s One™ Mastercard®, BJ’s One+™ Mastercard®, and BJ’s Business Elite™ Mastercard®.
    • The cards come with different rewards structures, annual fees, and benefits.
  2. Transition for Existing Cardholders:

    • Customers who currently hold a co-branded credit card issued by Comenity for BJ’s Wholesale Club will be automatically switched to the corresponding new card issued by Capital One.
  3. Details of Each Card:

    • BJ’s One™ Mastercard®:

      • Annual Fee: $0
      • Rewards: 3% back on most BJ’s purchases, 10 cents off per gallon at BJ’s Gas, and 1.5% back on other purchases.
    • BJ’s One+™ Mastercard®:

      • Annual Fee: $0
      • Rewards: 5% back on most BJ’s purchases, 15 cents off per gallon at BJ’s Gas, and 2% back on other purchases.
    • BJ’s Business Elite™ Mastercard®:

      • Annual Fee: $0
      • Rewards: 5% back on most BJ’s purchases, 15 cents off per gallon at BJ’s Gas, and 2% back on other purchases.
  4. Rewards Program Highlights:

    • The rewards programs seem attractive with no annual fees.
    • BJ’s One+™ Mastercard® and BJ’s Business Elite™ Mastercard® offer 2% back on all purchases outside BJ’s Wholesale Club.
  5. Redemption Options:

    • Rewards redemption is limited to eligible purchases and membership fees at BJ’s checkout, online, or through the mobile app.
    • Minimum balance of $10 is required to redeem rewards.
  6. Exclusions and Inclusions for Rewards:

    • The article outlines items included and excluded from rewards bonuses for purchases made at BJ’s Wholesale Club using the credit cards.
  7. BJ’s Membership Integration:

    • The credit card is linked to the BJ’s membership, and the membership number is on the back of the card.
    • Automatic payment of BJ’s membership dues is possible through the BJ’s Easy Renewal option.

In conclusion, these new Capital One-backed BJ’s credit cards offer attractive rewards, especially for frequent BJ’s Wholesale Club shoppers. However, the redemption options are limited to BJ’s purchases, which may impact the flexibility of using earned rewards. Customers need to weigh the benefits against the restrictions to determine if these cards align with their spending habits and preferences.

Capital One Unveils 3 New Credit Card Options for BJ's Wholesale Club (2024)
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