Capital One and Walmart Ending Relationship and Converting Credit Cards — What You Should Know

Updated: July 17, 2024, 4:01pm CDT

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Capital One Walmart Card To Be Discontinued
Final Thoughts

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Sadly, if you have the Capital One Walmart Rewards^® Mastercard^®Information collected independently. Not reviewed by Capital One., your card will soon be converted to a different Capital One credit card.

Details remain thin, but Capital One and Walmart have confirmed that the relationship is ending. However, you can still use your Capital One Walmart card for the time being, but this card will eventually be converted to a different Capital One credit card.

If you’re a cardholder, here’s what you need to know.

Capital One Walmart Card To Be Discontinued

Capital One and Walmart launched the Capital One Walmart card in 2019. In 2023, Walmart sued Capital One in an effort to end the credit card relationship, and a judge ruled that Walmart could end the relationship early, according to Reuters.

Now, Capital One has confirmed the end of the partnership. Therefore, those holding the Capital One Walmart card will likely wonder what happens to their accounts.

Presently, the answer is “nothing changes.” That’s good news in the short time, with Capital One confirming that cardholders can continue to use their cards and earn rewards as normal — “until informed otherwise.” Likewise, cardholders will retain all the rewards they’ve earned.

Walmart associate talking with customer — Soon, Walmart’s co-branded credit card won’t be issued by Capital One. Image Credit: Walmart

At an unknown date, these accounts will change to a different Capital One credit card, which will be the Capital One Quicksilver Cash Rewards Credit Card. “These customers will also keep all of the rewards they’ve already earned,” according to a spokesperson for Capital One.

Once the new card is issued, you’ll retain their credit history, credit limit, and accounts at Capital One. However, it’s likely that these accounts will stop earning bonus rewards at Walmart after being converted.

This also means Walmart will start issuing its co-branded credit card through a different bank. Prior to 2019, when Capital One started issuing Walmart’s cards, they were issued by Synchrony. Those looking to hold a Walmart credit card account in the future will need to submit a new application once cards start being issued by the new provider.

Bottom Line:

If you hold the Capital One Walmart card, you don’t need to take any action, and you can keep using your card as normal until Capital One changes it to a different product.

Final Thoughts

Capital One and Walmart are officially parting ways. At an unknown date, the Capital One Walmart card will be converted to a different Capital One credit card. Until then, cardholders can keep using their cards as normal. These accounts won’t move to a different bank until Walmart finds a new issuer for its co-branded credit card.

The information regarding the Capital One Quicksilver Cash Rewards Credit Card was independently collected by Upgraded Points and not provided nor reviewed by the issuer.