Sam's Club to raise its membership by $5 in October

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Sam's Club to raise its membership by $5 in October
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The warehouse club, owned by Walmart, announced Wednesday that it's raising its annual membership fee by 11%.

The warehouse club, owned by Walmart, announced Wednesday that it's raising its annual membership fee by 11% - from $45 to $50 - beginning in October. It's the first change to the fee in nine years.

Sam's Club said it will offer $5 in rewards to shoppers with a basic membership and $10 to premium customers as a perk for renewing after the price hike goes into effect.

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