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Walmart Rewards Mastercard review

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A digital-first store card with surprisingly robust rewards.

  • Get this card if: you regularly shop at Walmart and prefer shopping online.
  • Pick something else if: You shop in-store or eschew mobile payments.
  • Apply with a fair credit score of 580 or higher.

Up to 5%

Cash back

$0

Annual fee

17.99%, 23.24% or 26.99%

Purchase APR (variable)

580

Recommended credit score

Details

Product NameWalmart Rewards Mastercard
Card typeMastercard
Annual fee$0
Purchase APR17.99%, 23.24% or 26.99% variable
Balance transfer APR17.99%, 23.24% or 26.99% variable
Cash advance rate26.99% fixed
Cash advance fee$10 or 3% of the cash advance amount, whichever is greater
Foreign transaction fee3% of the transaction value
Interest free periodUp to 25 days
Late payment fee$39

The basics

On September 24th, Walmart and Capital One are introducing two new credit card products to replace Walmart’s old offerings, both aimed at consumers who prefer shopping online: the Walmart Rewards Mastercard and the Walmart Rewards Card.

Unlike Walmart’s last credit card offerings through Synchrony, the Walmart Rewards Mastercard is a universally accepted card and is surprisingly robust. It offers a nice cashback rate on purchases made through Walmart.com, an introductory rewards rate on in-store purchases and a solid rewards rate on dining and travel. You’ll see very few store cards with the same earning potential and flexibility as the Walmart Rewards Mastercard.

The catch? You’ll need to do most of your Walmart shopping online to get the best rates. But given the card’s earning flexibility elsewhere, the card could still be useful regardless.

Another everyday cashback card

Blue Cash Preferred® Card from American Express

  • Earn a $250 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
  • NEW 6% cash back on select U.S. streaming subscriptions.
  • NEW 3% cash back on transit including taxis/rideshare, parking, tolls, trains, buses and more.
  • 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 3% cash back at U.S. gas stations. 1% cash back on other purchases.
  • Over 3 million more places in the U.S. started accepting American Express® Cards in 2017 and 2018.
  • Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.74% to 25.74%
  • $95 annual fee.
  • Terms apply.
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Card benefits

  • Big rewards when shopping online.
    Earn 5% back on purchases made at Walmart.com and on purchases made through Walmart Grocery Pickup and Delivery. This is an increase over Walmart’s last card which offered 3% for online purchases.
  • Introductory offer rate.
    Earn 5% back on in-store purchases made with Walmart Pay for the first 12 months after approval. After the introductory period, you’ll earn 2% back on in-store purchases.
  • Solid rewards elsewhere.
    You’ll also earn 2% back on restaurants and travel and 1% back everywhere else.
  • Broad redemption options.
    Enjoy a variety of redemption options at your disposal, including travel, gift cards, on Walmart.com purchases and statement credits. This breadth is unusual for store cards, which often limit redemptions to the associated retailer.
  • No annual fee.
    Don’t worry about paying anything to simply own this card.
  • No foreign transaction fees.
    Incur no fees on purchases made abroad with your card.
  • Capital One mobile app.
    Get the Capital One mobile app, which has features such as security alerts, purchase notifications and benefits for your Walmart Rewards Mastercard.

What to watch out for

  • Digitally focused.
    To regularly earn 5% back, you’ll need to make your Walmart purchases online. Outside of the introductory period, you’ll earn just 2% back when making Walmart purchases in-store.

What credit cards are accepted at Walmart?

Walmart Rewards Card

In addition to the Walmart Rewards Mastercard, Capital One is also releasing the Walmart Rewards card. It’s not yet clear if it’s a lower-tier version of the Walmart Rewards Mastercard, though it has an important difference: The Walmart Rewards Card can only be used for Walmart purchases.

This means this card doesn’t earn 2% back on restaurants and travel nor 1% back everywhere else. This card will, however, earn 2% back at Walmart Fuel Stations.

It’s also unclear if the Walmart Rewards Card possesses foreign transaction fees. Otherwise, the card’s annual fee, online purchase earning rates and introductory offer remain the same.

Compare other store cards

Name Product Filter values Annual fee Purchase APR Recommended minimum credit score
$0
24.9% variable
580
A no-annual-fee credit card and discounts when you shop at Target.
$0
16.9% to 24.9% variable
580
Earn 5% cash back on gas (on up to $6,000 annually, then 1%), 3% on dining and travel and 1% on all other purchases.
$0
29.99% fixed
300
Build your credit history with low monthly payments.
$0
29.99% fixed
300
Get access to purchase items in the Fingerhut store with no overlimit fees.
$0
5.75% to 23.99% fixed
300
Buy now, pay later — low monthly payments make shopping easier

Compare up to 4 providers

How to apply for Walmart Rewards Mastercard

Once the card launches, you’ll be able to apply online through Walmart.com, CapitalOne.com or the Walmart App.

Capital One is also offering an additional and interesting method for applying: You can text a number offered by Capital One to apply immediately through your mobile phone. Once approved, you’ll gain immediate access to your Walmart Rewards Mastercard.

What credit score do I need?

To qualify for the Walmart Rewards Mastercard, apply with a fair credit score of 580 or greater.

Bottom line

Big reward rates, flexible redemption options and a slick focus on digital access make the Walmart Rewards Mastercard a great option for Walmart enthusiasts. And the fact that this card can earn solid rewards outside of Walmart – a rarity for store cards – makes this a store card worth keeping an eye on.

If Walmart isn’t your preferred department store of choice, compare other store credit cards to find one that fits your spending.

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2 Comments

  1. Default Gravatar
    Katrina
    June 1, 2017

    When using a Walmart credit card online and they ask what kind of card are you using what do you select? credit card, gift card, or other?

    • AvatarStaff
      Anndy
      June 18, 2017

      Hi Katrina,

      Thanks for your question.

      You should select credit card. Kindly note though that the Walmart Credit Card can only be used at Walmart-affiliated stores. These locations include Walmart stores, Walmart Supercenters, Neighborhood Markets, Walmart.com, Walmart and Murphy USA Gas Stations, and Sam’s Club.

      Cheers,
      Anndy

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