BJ's Wholesale Club and Capital One Unveil BJ's One™ Mastercard® Program

Rhea-AI Summary

BJ's Wholesale Club has announced the launch of the BJ's One™ Mastercard program in partnership with Capital One and Mastercard, set to begin on February 27, 2023. The program allows members to earn never-expiring rewards and enjoy savings at BJ's Gas. Cardholders can earn up to 5% back on purchases at BJ's and receive fuel discounts of 10¢ to 15¢ off per gallon at BJ's Gas. Additionally, BJ's is enhancing its membership program, rebranding it as the Club+ Card Membership, to include further benefits. The initiative aims to increase member satisfaction and strengthen BJ's competitive position in the retail space.

Positive

• Launch of BJ's One™ Mastercard with Capital One and Mastercard expected to enhance member value.
• Members can earn up to 5% back on purchases and receive fuel discounts.
• Introduction of rewards that never expire, increasing redemption flexibility.

Negative

• None.

BJ's new partnership with Capital One and Mastercard offers BJ's members the ability to earn never-expiring rewards, plus incredible savings at BJ's Gas®

MARLBOROUGH, Mass., Feb. 8, 2023 /PRNewswire/ -- BJ's Wholesale Club (NYSE:BJ), a leading membership warehouse club operator, today announced the scheduled launch of its new credit card program with Capital One and Mastercard, officially named the BJ's One™ Mastercard^® program. The new cards deliver even more value back to members and make BJ's top-tier memberships even better.¹

BJ's Wholesale Club and Capital One Unveil BJ's One™ Mastercard® Program

BJ's new program with Capital One and Mastercard will provide a first-class rewards and customer service experience for BJ's members. Customers can start using their new BJ's One Mastercard on Feb 27, 2023 and the program will offer²:

• In-club earnings:³ BJ's One+^TM Mastercard (formerly BJ's Perks Elite^®) cardholders will earn 5% back in rewards on most BJ's purchases; BJ's One^TM Mastercard (formerly BJ's Perks Plus^®) cardholders will earn 3% back in rewards on these purchases. Redeeming rewards will be easier than ever with members able to redeem their entire rewards balance once it reaches $10, up to the transaction total, and rewards that never expire.
• Gas discount⁴: BJ's One+ Mastercard cardholders will now receive 15 cents off/gallon at BJ's Gas every time they use their credit card at the pump; BJ's One Mastercard cardholders will continue to receive 10 cents off/gallon at BJ's Gas.
• Out-of-club earnings⁵: Spending outside BJ's will now be more rewarding, with BJ's One+ Mastercard cardholders earning 2% back in rewards everywhere they use their card outside of BJ's. BJ's One Mastercard cardholders will now earn 1.5% back in rewards everywhere they use their card outside of BJ's clubs.

"We are always striving to be best in class when it comes to the value of our membership," said Bill Werner, executive vice president of strategy and development at BJ's Wholesale Club. "Our partnership with Capital One and Mastercard will deliver unmatched rewards to our members with an exceptional customer service experience. Put simply, we expect this new program will be the best program in the retail space."

Both cards will benefit from Capital One's industry-leading customer experience and digital tools, including its award-winning mobile app, virtual assistant and access to exclusive events.

"With this new program, we partnered closely to offer BJ's members the opportunity to reap even more value from their everyday purchases at BJ's and elsewhere," said Buck Stinson, senior vice president, head of U.S. card partnerships, Capital One. "We know the benefits and rewards from this program will help them get the most out of their membership."

This is in addition to the Mastercard World benefits cardholders already receive.

"Mastercard is pleased to extend our long-standing partnership with BJ's Wholesale Club," said Chiro Aikat, EVP, U.S. Market Development, North America, Mastercard. "We're excited that the BJ's One Mastercard and BJ's One+ Mastercard will deliver even more robust benefits and value to cardholders across everyday purchases. That includes access to Priceless Experiences and further enhancing their memberships." 

BJ's Business Elite^TM Credit Card

Business members who have a BJ's Perks Rewards® Business credit card will transition to the BJ's Business Elite Mastercard. The new BJ's Business Elite Mastercard will also carry the best-in-class value of the BJ's One+ Mastercard, including 15 cents off/gallon at BJ's Gas, 5% back in rewards on most BJ's purchases and 2% back in rewards everywhere else Mastercard is accepted. ^3,4,5

Enhanced Membership Program

In addition to these new and exciting credit card benefits, BJ's is also announcing enhancements to its BJ's Perks Rewards® Membership program. The BJ's Perks Rewards Membership will be rebranded as The Club+ Card Membership. The Club+ Card members will continue to earn 2% back in rewards on most BJ's purchases and will also receive 5 cents off/gallon at BJ's Gas every time they scan their membership card at the pump⁶.

The enhancements to BJ's rewards program will make BJ's the only wholesale club to offer an instant gas discount across each of the higher-tier membership options. In addition to the enhanced rewards, the new BJ's One+ Credit Card, BJ's One Credit Card and The Club+ Card membership tiers include the everyday benefits of having a BJ's membership such as: up to 25% off grocery store prices every day, access to both manufacturers' and BJ's coupons, and convenient shopping options including shopping in-club, on BJs.com, through the BJ's mobile app, and curbside and in-club pickup.

"We are proud to be able to provide our members with incredible value and benefits every day, and we believe that the launch of these new membership benefits will only enhance the value we offer our members," said Tim Morningstar, executive vice president, chief membership officer, BJ's Wholesale Club.

Members who currently have a My BJ's Perks Mastercard will soon receive more information on the transition to Capital One and can visit bjsone.capitalone.com for more details.

About BJ's Wholesale Club Holdings, Inc.

Headquartered in Marlborough, Massachusetts, BJ's Wholesale Club Holdings, Inc. (NYSE:BJ) is a leading operator of membership warehouse clubs in the Eastern United States focused on delivering significant value to its members. The company provides a curated assortment of grocery, general merchandise, gasoline and ancillary services to offer a differentiated shopping experience that is further enhanced by its omnichannel capabilities. Since pioneering the warehouse club model in New England in 1984, the company currently operates 235 clubs and 164 BJ's Gas® locations in 18 states. For more information, please visit us on BJs.com or on Facebook,Twitter or Instagram.

About Capital One

Capital One Financial Corporation (www.capitalone.com) is a financial holding company which, along with its subsidiaries, had $333 billion in deposits and $455.2 billion in total assets as of December 31, 2022. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

Visit the Capital One newsroom for more Capital One news.

About Mastercard

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all. www.mastercard.com

¹ All BJ's memberships are subject to BJ's current membership terms, ask in-club or go to BJs.com/terms. Mastercard is a registered trademark, and the circles design is a trademark with Mastercard International Incorporated.

² The BJ's One Mastercard rewards program and The Club+ Card Membership rewards program are provided by BJ's Wholesale Club, Inc. and their terms may change at any time. For full rewards terms and conditions, please see BJs.com/bjsoneterms and BJs.com/terms.

³ BJ's One Credit Card holders earn 3% back and BJ's One+ ™ (and BJ's Business Elite) Credit Card holders earn 5% back, as applicable, in rewards on eligible purchases of goods and services in-club at BJ's front-end registers, on BJs.com or in the BJ's app (minus any redeemed rewards, returns, refunds or credit adjustments) when they pay for these purchases with their BJ's One Credit Card or BJ's One+ Credit Card (or BJ's Business Elite). There is no cap to the amount you can earn on eligible purchases with your BJ's One ™ Credit Card or BJ's One+ ™ (or BJ's Business Elite) Credit Card, as applicable, and rewards are yours for the life of the account — they will not expire. Must have a minimum balance of $10 in rewards to redeem. Minimum eligible purchase amount $10 at BJ's checkout. Eligible purchases exclude shipping, sales tax, bottle deposits, alcoholic beverages, cigarettes and tobacco-related products, lottery tickets, gift cards, propane, BJ's Gas, online optical purchases, membership fees and add-ons, warranties and protection plans, BJ's services provided by third parties (e.g., BJ's Travel®), and BJ's B2B and BJ's Global Sales transactions. See BJs.com/bjsoneterms for information on excluded services.

⁴ Receive an instant discount of 10¢ off each gallon of fuel at BJ's Gas when you use your BJ's One ™ Credit Card, or 15¢ off each gallon of fuel at BJ's Gas when you use your BJ's One+ ™ (or BJ's Business Elite) Credit Card, as applicable, to pay for your fuel purchase and scan the associated membership card.

⁵ BJ's One Credit Card holders earn 1.5% back and BJ's One+ (and BJ's Business Elite) Credit Card holders earn 2% back, as applicable, in rewards on purchases made outside of BJ's with their BJ's One Credit Card or BJ's One+ (or BJ's Business Elite) Credit Card, minus any returns, refunds or credit adjustments. Purchases at BJ's clubs, BJ's Gas, BJs.com, BJ's app, and BJ's B2B and BJ's Global Sales transactions are not "outside of BJ's."

⁶ The Club+ Card members earn 2% back in rewards on eligible purchases of goods and services in-club at BJ's front-end registers, on BJs.com, or in the BJ's app (minus any redeemed rewards, returns, refunds, or credit adjustments) when they scan their membership card for these purchases, unless the primary member or the member making the purchase is a credit cardholder in the BJ's One Mastercard program, in which case the member will only earn rewards in accordance with the BJ's One Mastercard program rewards terms (see BJs.com/bjsoneterms). Rewards earned by The Club+ Card members may not exceed $500 in any 12-month period. Rewards are yours for the life of your The Club+ Card Membership — they will not expire while your membership remains active and in good standing. Eligible purchases exclude shipping, sales tax, bottle deposits, alcoholic beverages, cigarettes and tobacco-related products, lottery tickets, gift cards, propane, BJ's Gas, online optical purchases, membership fees and add-ons, warranties and protection plans, BJ's services provided by third parties (e.g., BJ's Travel®), and BJ's B2B and BJ's Global Sales transactions. See BJs.com/terms for information on excluded services. The Club+ Card members receive an instant discount of 5¢ off each gallon of fuel purchased at BJ's Gas when they scan their membership card for these purchases, unless the primary member or the member making the purchase is a credit cardholder in the BJ's One Mastercard program, in which case the member will only receive an instant discount at BJ's Gas in accordance with the BJ's One Mastercard program rewards terms (see BJs.com/bjsoneterms). BJ's Gas purchases are not eligible purchases and do not earn rewards.

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SOURCE Capital One Financial Corporation

FAQ

What are the benefits of the BJ's One™ Mastercard program launched on February 27, 2023?

The BJ's One™ Mastercard program offers members up to 5% back on BJ's purchases, gas discounts, and rewards that never expire.

How much can BJ's One Mastercard holders save on gas?

BJ's One+ Mastercard holders can save 15¢ off per gallon at BJ's Gas, while BJ's One Mastercard holders save 10¢ off per gallon.

What is the new BJ's membership program called?

The new membership program is called the Club+ Card Membership.

When was the BJ's One™ Mastercard officially launched?

The BJ's One™ Mastercard was officially launched on February 27, 2023.

What is the stock symbol for Capital One?

The stock symbol for Capital One is COF.