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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.
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.
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.
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 in's and out's 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!
SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.
Matched Cash Back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
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 cardapplication.
Good to Excellent (670-850)
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.
Pros
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
5% back on travel purchased through Chase Ultimate Rewards
3% back on dining and drugstore purchases
1.5% back on all other purchases
No annual fee
Earn big on travel purchased through Chase Ultimate Rewards
Everyday bonus on dining and drugstores
Straightforward cash-back on all other purchases
Ability to pool points
Cons
3% foreign transaction fee
SPECIAL OFFER: Unlimited Matched Cash Back. Use your card for all your purchases and at the end of your first year, Chase will automatically match all the cash back you earned! There is no limit to how much you can earn. Every dollar in cash back rewards you earn is a dollar Chase will match.
Unlimited 1.5% cash back is just the beginning of what you can earn. You’ll enjoy 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 1.5% cash back on all other purchases.
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% – 29.24%.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
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, real-time alerts, and more.
Member FDIC
Financial Snapshot
APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
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 Ultimate Rewards, 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 in's and out's 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 huge welcome offer, good benefits, and perks for a moderate annual fee.
A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
60,000 points
$1,200
$95
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 cardapplication.
Good to Excellent (670-850)
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
5x points on all travel booked via the Chase Ultimate Rewards portal
5x points on select Peloton purchases over $250 (through March 31, 2025)
5x points on Lyft purchases (through March 31, 2025)
3x points on dining purchases, online grocery purchases, and select streaming services
2x points on all other travel worldwide
$50 annual credit on hotel stays booked through the Chase Ultimate Rewards portal
6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
Excellent travel and car rental insurance
10% annual bonus points
No foreign transaction fees
1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt
Complimentary Spot Club Platinum status with The Parking Spot for 2 years, 20% off of your first reservation, and points for 1 free day of parking (enroll by October 26, 2023)
Cons
$95 annual fee
No elite benefits like airport lounge access or hotel elite status
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
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.
The Capital One Walmart Rewards™ Card and the standard Walmart Rewards™ Card have $0 annual fee — a big perk!
How do I apply for a Walmart credit card?
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.
What does your credit score have to be to get a Walmart credit card?
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).
What is the minimum credit limit on a Walmart credit card?
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.
How do I increase my Walmart credit card limit?
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.
Can I pay my Walmart credit card in store?
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.
How do I cancel my Walmart credit card?
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.
Why is my Walmart card changing to Capital One?
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.
Do I have to apply for a new Capital One version of the card?
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.
Is the Walmart credit card rewards structure changing?
Yes. If you have the Capital One Walmart Rewards™ card, you will earn rewards as follows:
5% back on purchases made at Walmart.com or the Walmart app, including Grocery Pickup and Delivery.
2% back on purchases at restaurants, travel purchases, and purchases made at Walmart stores in the United States and Puerto Rico, and at Walmart and Murphy USA gas stations.
Additional 3% back when you use Walmart Pay for purchases made at Walmart stores through October 14, 2020, for a total of 5%.
2% back on the purchase of gift cards at Walmart (online, app, Walmart Pay, or in stores).
1% back on purchases everywhere else Mastercard is accepted.
If you have the Walmart Rewards™ Card, you will earn rewards as follows:
5% back on purchases made at Walmart.com or the Walmart app, including Grocery Pickup and Delivery.
2% back on purchases made at Walmart stores in the United States and Puerto Rico, and at Walmart and Murphy USA gas stations.
Additional 3% back when you use Walmart Pay for purchases made at Walmart stores through October 14, 2020 for a total of 5%.
2% back on the purchase of gift cards at Walmart (online, app, Walmart Pay, or in stores).
Will my rewards ever expire?
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.
What will happen to the rewards I've already earned with Synchrony Bank?
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.
An experienced points hacker, Erin is Alex’s partner-in-crime and contributes to Upgraded Points with in-depth guides and relationship management. Erin’s work has been cited in multiple major publications.
This bonus value is an estimated valuation calculated by UP after analyzing redemption options, transfer partners, award availability and how much UP would pay to buy these points.
