Edited by: Keri Stooksbury
& Kellie Jez
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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.
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.
|Capital One Walmart Rewards Card||Walmart Rewards Card|
|Main Cash Back Benefits||
18.99% or 29.99% (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.
Below are additional perks offered with both Walmart 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):
|Capital One Walmart Rewards Card||Walmart Rewards Card|
18.99% or 29.99% (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.
Hot Tip: For additional options, check out our guide to the best credit cards to use at Walmart.
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.
Hot Tip: Looking for an easy instant approval credit card that offers immediate access to your new card number? Click here for more instant approved credit cards.
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.
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.
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:
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:
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
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.
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 Ultimate Rewards, 3x points on dining, and 2x points on all other travel purchases
A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
The Chase Sapphire Preferred® card is one of the best travel rewards cards on 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.
These Chase points are extremely valuable when used correctly!
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.
Nonetheless, there are certainly other cash-back rewards credit cards out there that can earn you a lot more on your everyday spending!
The Capital One Walmart Rewards™ Card and the standard Walmart Rewards™ Card have $0 annual fee — a big perk!
You can apply for the Capital One Walmart Rewards™ Card and the Walmart Rewards™ Card online or in-store at any register or jewelry kiosk.
There is no hard and fast number when it comes to the credit score required to get a Capital One Walmart Rewards™ Card or Walmart Rewards™ Card. Most reports state a credit score of 620 or better is recommended, however, some individuals in the upper 500s range have reported approval (and some in mid-600s have reported denials).
There does not seem to be a distinct minimum credit limit on the Capital One Walmart Rewards™ Card or Walmart Rewards™ Card, but we’ve seen reports of limits as low as $150. Your credit limit will depend on your credit history.
In order to increase your Capital One Walmart Rewards™ Card or Walmart Rewards™ Card credit limit, you will have to call the customer service number on the back of your card to make a request. Reports state customer service employees are unable to confirm whether this will be a hard pull or soft pull on your credit, so be wise with your decision.
We’ve seen reports that Walmart usually approves most requests for a credit limit increase after about 6 months of regular/successful payments; some have seen approvals earlier.
In general, to build your chances of a limit increase, you should attempt to make small purchases every month, trying not to go over 80% of your limit. Additionally, make sure you pay off your balance on time, every month.
Yes, you can pay your Capital One Walmart Rewards™ Card or Walmart Rewards™ Card bill at the customer service counter at any Walmart location, online, by mail, or by phone. Be aware that by phone, if you speak with a representative (vs. automated) you may be charged a fee.
To cancel your Capital One Walmart Rewards™ Card or Walmart Rewards™ Card, simply call the customer service phone number on the back of your card.
The bank that issues the Walmart credit cards is changing. Your account will be transferred from Synchrony Bank (the old issuer) to Capital One (the new issuer) and the new Capital One Walmart Rewards™ program on October 11, 2019.
No. As a current Walmart credit cardholder, you do not have to reapply. On October 11, 2019, customer accounts may transfer from Synchrony Bank to Capital One.
If for any reason your account is not transferred to Capital One, Synchrony Bank will communicate with you as necessary to continue to administer and service your account.
Yes. If you have the Capital One Walmart Rewards™ card, you will earn rewards as follows:
If you have the Walmart Rewards™ Card, you will earn rewards as follows:
Your rewards in the new program are yours for the life of the account; they will not expire. If your account is closed, you will lose any rewards you have not redeemed.
Synchrony Bank will issue a statement credit for the rewards you earned as part of your account transitioning to Capital One. The credit will be for the balance of your current point value at the time of conversion and will be issued on October 10.
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