Walmart Sam's Club Bundle: Who Gains, and the Amex Catch
The $120 plan saves most shoppers $98 a year. Sam's Club's fine print shows Amex Platinum cardholders give up a Walmart+ credit and gain nothing.
Finance Reporter
An empty metal shopping cart standing on an open stretch of pavement in black and white. Photo: Bruno Kelzer via Unsplash
Walmart's new $120 Walmart+ and Sam's Club Plus bundle saves most shoppers money, but Sam's Club's own help page shows one group gets almost nothing from it: American Express Platinum cardholders, whose card already covers a monthly Walmart+ membership. For them, by TradeFlock's math, the bundle costs exactly what Sam's Club Plus alone cost before Tuesday, and switching ends the card credit. The $120 price also matches the Plus fee Sam's Club raised from $110 on May 1.
Walmart announced the bundle on Tuesday, Oct. 20, saying Walmart+ and Sam's Club Plus "are available together for $120 a year," which it called "almost $100 less than members were previously paying for the two memberships separately." Walmart+ costs $98 a year on its own, according to the fine print on Walmart's membership page, and Sam's Club lists Plus at $120. That is $218 bought separately, so the saving is $98.
What the Walmart and Sam's Club Bundle Costs by Member Type
Walmart's release lists the upgrade prices for existing members. Here is what each group pays and, by our calculation, what it gets for the money:
| Current membership | Extra cost for the bundle | What the extra buys |
|---|---|---|
| None | $120 a year | Both memberships, a $98 saving on separate prices |
| Walmart+ annual ($98) | $22 a year | Sam's Club Plus, normally $120 |
| Sam's Club Club ($60) | $60 a year | Plus perks plus Walmart+ |
| Sam's Club Plus ($120) | $0 | Walmart+, normally $98 |
| Both, bought separately | Saves about $98 | Link accounts; "most members" get a prorated Walmart+ refund |
Existing Plus members gain the most. Walmart+ is now included "at no extra cost for the eligible Primary Plus Member," the Sam's Club help page says.
The Amex Platinum Catch in the Fine Print
American Express advertises a "$155 Walmart+ Credit" on its Platinum Card page: up to $12.95 back each month after cardholders pay for a monthly Walmart+ membership with the card. For those members, Walmart+ already costs nothing after the credit.
The Sam's Club help page addresses them directly: "Your AMEX benefit covers the Walmart+ Monthly base plan, but it doesn't include Sam's Club Plus. To get both memberships, you'll need to upgrade to the $120 annual Walmart+ with Sam's Club Plus plan and then link your accounts. The new $120 plan is not covered by your AMEX benefit, so you will no longer see a monthly statement credit."
The result, by our estimate, is that a Platinum cardholder who wants Sam's Club pays $120, the same as a standalone Plus membership, and gives up a credit worth up to $155 a year that was covering Walmart+. For this group the bundle adds no saving. It simply makes the card perk redundant for anyone who also wants Sam's Club Plus.
How the May Fee Increase Shapes the $120 Price
The bundle comes less than six months after Sam's Club raised its fees. CNBC reported on April 1 that starting Friday, May 1, Club membership would rise from $50 to $60 a year and Plus from $110 to $120, with existing members paying the new price at renewal. The Plus Sam's Cash cap rose from $500 to $750 a year at the same time.
That means the bundle price is the new Plus fee, with Walmart+ added. A shopper who held both memberships before May paid $110 plus $98, or $208. The same shopper now pays $120, about $88 less, by our math, than a year earlier and $98 less than today's separate prices.
Limits on Sam's Club Plus With Walmart+
The help page sets several rules that the headline price does not show:
- The included Walmart+ goes only to the primary member. "Sam's Club Complimentary and Add-On Members don't automatically receive included Walmart+ membership or benefits," though Walmart+ benefit sharing may cover one household member.
- There is no trial, and Walmart quotes the price only as an annual fee.
- Downgrading to Club ends Walmart+ when the Plus term expires, and canceling ends both.
- Accounts, orders, Sam's Cash and Walmart Cash stay separate, and Walmart Business accounts are not eligible.
- Walmart+ delivery needs a $35 minimum on scheduled orders, and the streaming perk is one ad-supported service, Peacock Premium or Paramount+ Essential, switchable every 90 days.
On its join page, Sam's Club says the combined memberships deliver "Over $700/year" in savings, an estimate it bases on average savings among members of both for a year or more.
Why Walmart Is Folding Walmart+ Into Sam's Club
The bundle extends Walmart's push into convenience, from restaurant delivery with Dunkin' and Subway to shopping through Google's Gemini at Walmart and Sam's Club. "For $120 a year, we're raising expectations for what a membership can deliver: more money in their pockets and more time to call their own," Walmart Inc. President and CEO John Furner said in the release.
Walmart also said U.S. field associates at both chains will get the two memberships as a benefit, and that the costs "are not expected to materially impact" its fiscal third-quarter or full-year guidance from Aug. 20. It did not say how many members it expects to switch or what the change will do to membership fee income.
Photo: Bruno Kelzer via Unsplash (Unsplash License).
Priya Nair
Finance Reporter
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