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[Discontinued] Capital One Walmart Rewards Credit Card Review – Is It Worth It?
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Update: The partnership between Capital One and Walmart has ended, and the Walmart credit cards mentioned below are no longer available.
Every retailer seems to offer its own credit card nowadays, each with its own special benefits. How are you supposed to know which to choose and whether using that card is really worth it?
Unfortunately, many of these cards come with a high-interest rate and low minimum payments that pretty much offset any discounts in the end.
Recently, Walmart has made some changes to rebrand its rewards program, ended a partnership with Synchrony Bank, and is now partnering with Capital One to update their card offerings.
So let’s take a look at the Capital One Walmart Rewards® Mastercard® (Information collected independently. Not reviewed by Capital One) and the Walmart Rewards™ Card to see how they stack up.
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The Capital One Walmart Rewards Card and Walmart Rewards Card
5% at Walmart.com and Walmart app, including Grocery Pickup and Delivery
2% at Walmart Stores, Walmart and Murphy USA Fuel Stations, Restaurants, and Travel
1% Anywhere Mastercard® is accepted
5% with Walmart Pay for 12 months on in-store purchases. *Welcome offer for approved applicants*
5% at Walmart.com and in the Walmart app, including Grocery Pickup and Delivery
2% at Walmart Stores, Walmart, and Murphy USA Fuel Station
5% Walmart Pay for 12 months on in-store purchases. *Welcome offer for approved applicants*
Annual Fee
$0
$0
APR
18.99% or 29.99% (Variable)
26.99% (variable)
Late Fees / Penalties
Up to $39
Up to $39
Walmart has 2 branded cards, which have virtually the same benefits with just a few main differences.
The Capital One Walmart Rewards card can essentially be used anywhere you like — meaning that you’ll get rewarded for purchases made virtually anywhere Mastercard is accepted (albeit marginally, at 1%). The standard Walmart Rewards card is only accepted at Walmart stores, Walmart.com, and Walmart and Murphy USA gas stations.
Another difference: some Capital One Walmart Rewards cardholders may receive a lower APR depending on account type. And finally, Capital One Walmart Rewards cardholders are eligible for cash advances (with a variable APR), while standard Walmart Rewards cardholders are not eligible.
Since the Capital One Walmart Rewards card is slightly more difficult to qualify for, some applicants will automatically receive the standard Walmart Rewards card, which targets consumers with low to fair credit scores looking to build their credit. You can find out more about the application process below.
Additional Features of the Walmart Rewards Card Options
Below are additional perks offered with both Walmart cards:
Other companies charge up to $20 to check your score, so this could be a handy advantage
$0 Fraud Liability for unauthorized charges
Access to special 6-12 month financing options
Fees and Drawbacks of the Walmart Rewards Cards
There are a few cons to consider before applying for either card.
Fees: Here are the current fees/penalties that you might incur. These include (but are not limited to):
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Capital One Walmart Rewards Card
Walmart Rewards Card
APR
18.99% or 29.99% (Variable)
26.99% (variable)
Cash Advance APR
29.99% (variable)
N/A
Cash Advance Transaction Fee
$10 or 3% of each cash advance amount (whichever is greater)
N/A
Late Fee
Up to $39
Up to $39
Foreign Transaction Fees
0%
N/A
Other drawbacks certainly apply to this card. For example, cardholders can only receive 2% cash-back for using their cards at a Walmart store. That being said, if you visit physical Walmart stores frequently, the statement credit could quickly add up.
If your credit history isn’t strong enough for the Capital One Walmart Rewards card, you can’t earn cash-back outside of Walmart (which limits the card’s usefulness). But, again, there’s no annual fee. So even using it to pay at Walmart and approved gas stations can mean money back each month, especially if you spend there often!
Even though there’s no annual fee, the Capital One Walmart Rewards card and the standard Walmart Rewards card have high APRs and late fees. These can add up quickly and put you in a serious bind. Of course, you can avoid these fees by paying the balance in full each month.
Finally, if you’re still working on building your credit, you’ll probably be given a low credit limit, which means you won’t be able to spend much on the card. But if you use your credit card responsibly, your credit limit and credit score could increase.
Applying for the Capital One Walmart Rewards and Walmart Rewards Cards
Image Credit: juhansonin
Potential cardholders technically apply for the Capital One Walmart Rewards card and the standard Walmart Rewards card at the same time to see which one (if either) they will qualify for.
As mentioned above, the Capital One Walmart Rewards card has slightly higher qualification criteria. For this reason, those who do not qualify for the Capital One card may still qualify for the Walmart Rewards card instead.
That being said, the general consensus is that the Walmart cards are usually intended for individuals with poor or limited credit histories. In short, Walmart likely anticipates recent or past flaws in your credit.
You can apply for the Capital One Walmart Rewards card and Walmart Rewards card online, at any store register, or at the jewelry kiosk.
Upon credit review, some applicants will be approved instantly. However, some applications may need further review, resulting in a 7-10 day waiting period.
Walmart credit card options have offered marginal sign-up bonuses that have been variable in the past.
In July 2020, the introductory offer was earning 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards card with Walmart Pay.
Additional Walmart Card Options
What happens if you are denied both the Capital One Walmart Rewards card and the Walmart Rewards card? In that case, you still have another option: the Walmart MoneyCard, a reloadable prepaid Visa or MasterCard from Green Dot Bank.
The Walmart MoneyCard earns 3% cash-back at Walmart.com, 2% cash-back at Murphy USA and Walmart fuel stations, and 1% cash-back at Walmart stores — up to $75 each year.
You’ll get access to special discounts and sales notices, you don’t need a bank account to use the prepaid card, and you can even have your paycheck direct deposited. However, there are monthly fees for using the Walmart MoneyCard. The monthly fees are waived if you deposit $1,000 or more to your account each month. Additionally, you’ll also receive 2% annual interest on up to $1,000 in your free savings account.
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Logging in and Managing Your Walmart Credit Card Account
After you are issued a credit card, you can log in and manage your Walmart card account here.
Options within the online management platform include:
View your statement
Pay your bill
Set up account alerts
Opt for paperless statements
Alternative Rewards Credit Cards (Our Recommendations)
Image Credit:Teerasak Ladnongkhun via Shutterstock
There are a number of other excellent rewards-based cash-back credit cards out there that would likely earn you more than the Walmart cards.
No complicated fees or structures to understand with these rewards cards:
The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
$200
$0
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.24% - 27.74%.
Upgraded Points credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
Good to Excellent
Why We Like This Card
The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases.
No minimum to redeem for cash back. You can use points to redeem for cash through an account statement credit or an electronic deposit into an eligible Chase account located in the United States!
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.24% - 27.74%.
No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
Member FDIC
Financial Snapshot
APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 18.24% - 27.74%.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars
The welcome offer is worth over $750 when redeemed for travel expenses (flights, hotels, etc.) through Chase’s travel portal. Earn 1 point/$1 spent at Walmart stores and outside of Walmart, 5x points on travel purchased through Chase Travel, 3x points on dining, and 2x points on all other travel purchases.
The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
Earn 60,000 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
60,000 75,000 points
$1,500
$95
19.24% - 27.49% Variable
Upgraded Points credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.
Good to Excellent
Why We Like This Card
The Chase Sapphire Preferred® card is one of the best travel rewards cardson the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.
Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.
Pros & Cons
Pros
5x points on all travel booked via the Chase Travel portal
3x points on dining purchases, online grocery purchases, and select streaming services
2x points on all other travel worldwide
Cons
$95 annual fee
No elite benefits like airport lounge access or hotel elite status
Earn 75,000 bonus points after you spend $5,000 on purchases in the first 3 months from account opening.
Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases
Earn up to $50 in statement credits each account anniversary year for hotel stays through Chase Travel℠
10% anniversary points boost - each account anniversary you'll earn bonus points equal to 10% of your total purchases made the previous year.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Complimentary DashPass which unlocks $0 delivery fees & lower service fees for a min. of one year when you activate by 12/31/27. Plus, a $10 promo each month on non-restaurant orders.
If you regularly buy groceries or other items at Walmart.com and Walmart or simply fill your tank at Walmart or Murphy USA, then a Walmart credit card can be valuable. That is, if you’re a responsible cardholder.
As long as you pay your entire balance on time each month to avoid the high APR and late fees, you’re okay. Otherwise, your penalties could wind up seriously outweighing your benefits.
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