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Walmart Rewards Mastercard review
Last updated:
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 Name | Walmart Rewards Mastercard |
|---|---|
| Card type | Mastercard |
| Annual fee | $0 |
| Purchase APR | 17.99%, 23.24% or 26.99% variable |
| Balance transfer APR | 17.99%, 23.24% or 26.99% variable |
| Cash advance rate | 26.99% fixed |
| Cash advance fee | $10 or 3% of the cash advance amount, whichever is greater |
| Foreign transaction fee | 3% of the transaction value |
| Interest free period | Up 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.
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
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.
