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Walmart is a big name.
If you live in the U.S., there’s a decent chance that you’ve spent some time there, whether you like it or not.
Either way, the store’s presence and the diversity of its product offerings are both undeniable. So it’s probably no surprise that the retailer offers credit cards designed to appeal to its loyal shoppers.
Walmart works with Capital One to issue these co-branded cards. One, the Walmart Rewards Mastercard®, can be used anywhere, just like your typical credit cards. The Walmart Rewards Card, on the other hand, can only be used at Walmart properties.
Both offer 5% back at Walmart.com and on the Walmart app, plus 2% back in stores. The Mastercard kicks things up a notch, delivering 2% back at restaurants and on travel, too.
Wondering whether these card offers provide enough value to warrant your attention?
As with most credit card reviews, our answer lies squarely in “it depends on your spending habits” territory. But as is the case with most retail credit cards, if you’re really into the store that’s offering them, these cards are certainly worth a glance at the very least.
We’re awarding both the Walmart Rewards Mastercard and the Walmart Rewards Card 4 out of 5 stars.
Both cards offer strong cash back rewards programs that cater well to the frequent Walmart shopper. And while the Mastercard offers much more appeal overall, the Walmart Rewards Card is still a great choice if you’re a Walmart lover with poor or limited credit.
It’d be nice to have a higher in-store reward rate, but aside from that, it’s kind of hard to find fault in the Walmart cards’ rewards. Especially the Mastercard, which is surprisingly great for a retail card with no annual fee.
The cards are described as earning cash back, but rewards technically come in the form of points, which allows for the various redemption options we’ll talk about below. Those points are simply worth 1 cent each when redeemed for cash back, which makes things pretty simple.
|Spending Rewards (Walmart Rewards Mastercard)|
|Spending Rewards (Walmart Rewards Card)|
|Welcome Bonus Offer (Both Cards)|
Both of these cards appeal to the same type of cardholder: the Walmart regular.
A 5% reward rate on a spending category with as much flexibility as Walmart.com (or the Walmart app) is rather hard to find, with the exception of credit cards provided by retail giants like Amazon and Target, and cards with rotating categories that have lowish spending caps, such as the Chase Freedom® (Review) and Discover it® Cash Back Credit Card (Review).
The fact that the Walmart cards’ 5% category includes Walmart Grocery Pickup and Delivery (where these services are available) is also very impressive for a co-branded retail card. That means you can head to the Walmart website, place your pickup order to earn the 5% rate on your favorite foodstuffs, and then earn 2% back on your in-store shopping before grabbing your pile of groceries. Convenient, no?
There are other credit cards that can score you a 5% reward rate on groceries, but they’re not very common, and there are usually spending caps that apply to the grocery category. Grocery/supermarket categories don’t tend to include Walmart, either.
Walmart-specific categories aside, the Mastercard goes above and beyond the typical retail card’s get-rewards-here-and-nowhere-else approach by granting cardholders 2% back at restaurants and on travel.
When you think about cards like the Citi® Double Cash Card - 18 month BT offer (Review), which offers 2% back on every purchase (1% for purchases, 1% for payments), Walmart’s offer might not seem too impressive, but it’s a helpful touch when combined with the appealing reward rates available for Walmart.com and in-store purchases. And there aren’t too many cards that offer a better travel reward rate than 2% with no annual fee.
Both cards also provide 2% back at Walmart Fuel Stations and Murphy USA gas stations. But these aren’t too widespread, and 2% isn’t a huge number, so you may benefit more by pairing your Walmart card with a better gas card.
Redemption options for both Walmart credit cards are pretty much exactly what you’d expect from a modern rewards card.
Both cards allow you to redeem for gift cards, statement credits, or during checkout on the Walmart website.
Walmart Mastercard holders also have access to a rewards portal where rewards can be redeemed for travel. Travel redemptions, per the Mastercard’s terms, provide a value of 1 cent per point: “Simply multiply the cost of your travel purchase by 100. For example, if your travel purchase costs $200, you would multiply that by 100 to determine you need 20,000 points to redeem.”
Regardless of how you choose to redeem, you can do so anytime, and your rewards will never expire.
Retail credit cards aren’t known for their awe-inspiring benefits, but the Walmart Rewards Mastercard provides a few perks you might find useful.
The Walmart Rewards Card’s only benefit is fraud protection.
|Purchase APR||Balance Transfer APR||Cash Advance APR|
|Walmart Rewards Mastercard||17.99%–26.99% Variable||17.99%–26.99% Variable||26.99% Variable|
|Walmart Rewards Card||26.99% Variable||None||None|
|Annual Fee||Foreign Transaction Fee|
|Walmart Rewards Mastercard||$0||None|
|Walmart Rewards Card||$0||None|
|Balance Transfer Fee||Cash Advance Fee|
|Walmart Rewards Mastercard||3% for promotional APR offers; None otherwise||3%, $10 minimum|
|Walmart Rewards Card||None||None|
|Penalty APR||Late Fee||Returned Payment Fee|
|Walmart Rewards Mastercard||None||Up to $39||None|
|Walmart Rewards Card||None||Up to $39||None|
The Walmart Rewards Card has a relatively high APR, at 26.99%. That’s expected for a store card.
The Mastercard fares a bit better on that front. Its variable APR range is marginally higher than some general-use cards, though it’s not a significant difference.
Regardless, you’ll never have to worry about interest if you always pay off your full statement balance by the due date, like we recommend.
There are no foreign transaction fees here, which is a plus if you find yourself crossing borders with the Walmart Mastercard in your wallet.
The Walmart credit cards stand out from the retail credit card crowd with good rewards programs and flexible redemption options.
Walmart.com devotees will get the most out of these cards. The 5% cash back reward rate for the retailer’s website offers a ton of potential value, and that includes Walmart Grocery Pickup & Delivery, effectively providing 5% cash back on groceries with no category-related spending cap.
You’ll also earn 2% back in Walmart stores, which isn’t particularly great, but it’s not all that bad, either. You’ll earn 5% back in Walmart stores during the first year when you use Walmart Pay, and that adds quite a bit of earning potential.
On top of all that, 2% cash back for both restaurants and travel helps make the Walmart Rewards Mastercard® a particularly strong choice, especially when you put it up against most other retail credit cards.
Both cards may be within reach if you’re only working with fair credit, but even if you don’t qualify for the Mastercard, the Walmart Rewards Card has a lower barrier of entry (explained in the How to Apply section below) that could allow you to take advantage of a relatively generous rewards program, even with not-great credit scores.
So, all things considered, the Walmart credit cards are pretty great. But if you’re not a real-deal Walmart fan, consider amassing an arsenal of other rewards cards that better reflect your spending habits.
Applying for the Walmart credit cards is very easy.
When you apply, you’ll be considered for the Walmart Rewards Mastercard first. If you don’t qualify for the Mastercard, you’ll automatically be considered for the Walmart Rewards Card.
To apply, visit the Walmart website and click “Apply now.” You’ll then have to fill out a standard application, including the personal information outlined below.
If you’d prefer not to apply through the Walmart website, you can also apply at the register or at self checkout in a Walmart store, on the Walmart app, or by texting “Apply” to 22580.
View the terms for both cards for complete eligibility information.
A Walmart representative told CNBC the new card offers are “aimed at consumers across the credit spectrum with broad eligibility for people with good to excellent credit.”
Basically, the cards are designed for people of all credit scores, though the Mastercard will likely require better credit. Either way, this makes the Walmart cards a solid choice if you’re struggling to be approved for other rewards cards.
Just remember that several factors go into an approval decision, and your credit scores guarantee neither approval nor denial.
If you were a Walmart credit cardholder prior to the switch to Capital One, Walmart will automatically transfer your former Synchrony account to Capital One. Some action will be required on your part, and here’s a quick rundown of how you should prepare for this change.
For more information, visit the Walmart website.
Walmart’s credit cards provide appealing rewards for anyone who’s all about that Walmart life. But if you’d rather shop elsewhere, these cards really don’t provide much to write home about, and you could find more value with other picks.
This list features a mix of retail cards and general rewards credit cards, and you may benefit from using a couple of them together, rather than picking one and committing to it.
The Target/Walmart rivalry is alive and well. But while Walmart is often known for slightly lower prices, Target boasts a significantly higher in-store credit card reward rate.
The Target REDcard™ Credit Card (Review) offers 5% off in Target stores and on the Target website, with no rewards earning limit and no annual fee. And, yes, that 5% includes Starbucks cafes located inside Target stores.
Perks like free shipping and special anniversary offers add a nice finishing touch.
Similar to the Walmart card, you only get 2% back in Costco stores. But you also get a variety of other bonus categories, with an excellent rate on gas in particular.
The main obstacle here is that you have to have a Costco membership in order to apply for the card. The lower-tier membership, Gold Star, costs $60 a year, while the upper-tier Gold Star Executive membership is priced at $120 annually.
The Citi® Double Cash Card - 18 month BT offer (Review) is one of our favorite general-use credit cards, because it gives you 2% cash back everywhere, and with no spending limit. That’s as much as the Walmart cards give you on in-store purchases, with none of the restrictions.
You won’t earn higher reward rates in other categories, as you would with the Walmart cards, but that’s fine. As with a lot of flat-rate cards, the Double Cash is largely a card you’ll want to use alongside other, more specifically targeted credit cards.
That means people with average or perhaps even poor credit scores can use it to earn rewards while building credit. It’s generally a better option for building credit than a store card or a secured credit card — there’s no need for an up-front deposit, and its rewards program is general enough that you don’t need to stick to one store to make the most of it. Plus, there are incentives for paying on time, which could help whip your financial habits into shape.
You can only get up to 1.25% cash back with the Journey card, but if you’re really struggling to be approved for other unsecured credit cards, this could be a good place to start.
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The Walmart credit cards offer strong and relatively well-rounded rewards programs, including 5% back at Walmart.com and 2% back in Walmart stores. The Walmart Rewards Mastercard stands out a touch more thanks to its 2% cash back category, which covers restaurants and travel.
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