Capital One Unveils 3 New Credit Card Options for BJ’s Wholesale Club

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 One^™ Mastercard^®

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 gallon at BJ’s Gas® 1.5% back in rewards everywhere else Mastercard® is accepted

BJ’s One+™ Mastercard®

Annual Fee: $0 Card It Is Replacing: BJ’s Perks Elite® Mastercard® Credit Card Card Processor Program: World Mastercard®

Rewards Structure 5% back in rewards on most BJ’s purchases 15 cents off per gallon at BJ’s Gas® 2% back in rewards everywhere else Mastercard® is accepted

BJ’s Business Elite^™ Mastercard^®

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 rewards on most BJ’s purchases 15 cents off per gallon at BJ’s Gas® 2% back in rewards everywhere else Mastercard® 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 Elite^™ Mastercard^® 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.

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.