Introduction
Today, it appears that every retailer offers its own credit card with its own unique benefits, and Walmart is no exception.
The Walmart Rewards Card from Capital One is a great option for shoppers who spend a lot of time at Walmart. Walmart Stores offers unique benefits with the Walmart Rewards Card from Capital One. Customers can enjoy 5% off purchases on Walmart.com and the Walmart app, 2% off at restaurants and travel, and 1% off at Walmart Stores. This card provides even more bang for your buck, making it a great option for shoppers who frequent Walmart Stores.
In this article, let’s take a quick look at the Capital One Walmart Rewards MasterCard and the Walmart Rewards card.
The Capital One Walmart Rewards Card and Walmart Rewards Card
Walmart Rewards and the standard Walmart rewards card offer similar benefits but have key differences. The capital one Walmart Rewards card allows rewards for purchases made almost anywhere a MasterCard card is accepted, with a marginal 1% discount. The standard Walmart rewards card is only available at Walmart stores, Walmart.com, Walmart gas stations, and Murphy USA locations. Some Capital One Walmart rewards cardholders may receive a lower annual percentage rate (APR) depending on their account type. Cash advances are also available, but standard Walmart rewards cardholders are not eligible.
The Capital One Walmart Rewards Card approval process takes longer, but some candidates receive the Standard Card instantly. The standard Walmart rewards card is designed for consumers with low-to-fair credit scores who want to improve their credit scores.
Additional Features of the Walmart Rewards Card Options
- No annual fee
- Free online FICO® credit score checks at any given time for all who sign up for electronic statements
- Credit score checks are free as compared to many companies that charge up to $20.
- Fraud protection
- Access to special 6-12 month financing options
Fees and Drawbacks of the Walmart Rewards Cards
Walmart Rewards™ card offers a variable annual percentage rate (VAR) of 17.99%-28.99%, while Capital One® Walmart Rewards® card has a variable APR of 26.99%. Both cards do not have an annual fee, but their interest rate and fees vary. The Capital One Walmart® Rewards card is eligible for use in any MasterCard-accepted country, eliminating the 3% charge for transactions outside the United States. However, the terms are not ideal, with no special financing offers and a 3% balance transfer fee on promotional APR offers.
The card offers 2% cash back when used at Walmart stores, but its usefulness is limited if you shop frequently. A strong credit history is required to earn cash back outside of Walmart, limiting its usefulness. The card does not have an annual fee, so you can still use it to pay for groceries at Walmart or approved gas stations. However, high APRs and late fees can quickly accumulate, so paying your balance in full monthly is necessary. This card is likely for those still building their credit, with limited spending limits. However, if used responsibly, the card’s credit limit and score could increase.
The Capital One Walmart Rewards and Walmart Rewards Cards Application
Potential cardholders can choose between the Capital One Walmart Rewards card and the regular Walmart Rewards card to see if they qualify. People who do not meet the requirements for the Capital One card may still be eligible for the Walmart Rewards card because the former has slightly more stringent requirements. Walmart cards are often created for those with bad or minimal credit records because they account for current or recent credit faults. Applications may be submitted online, in person, at a jewellery kiosk, or at a store register. Some candidates may receive fast approval after a credit screening, while others may need a more thorough evaluation, resulting in up to 10-day waiting.
Welcome Bonus
Walmart credit card options have had in the past varying marginal sign-up bonuses.
The introductory offer in July 2020 stated that when you use your Capital One Walmart Rewards card with Walmart Pay you earn 5% back in Walmart stores for the first 12 months
Additional Walmart Card Options
Walmart MoneyCard is a prepaid card from Green Dot Bank that offers up to $75 cash-back annually. It doesn’t require a bank account, offers discounts and sales notifications, and allows you to deposit your paycheck directly into the card. Monthly fees are waived for deposits of at least $1,000, and you’ll receive 2% interest on your free savings account.
Logging in and Managing Your Walmart Credit Card Account
Once your credit card is issued, log in and manage your Walmart card account here. Online platform management options include:
- Statement Viewing
- Bill Payments
- Set up account alerts
- Paperless Statement Options
Alternative Rewards Credit Cards – Our Recommendations
There are many other outstanding rewards-based cash-back credit cards available, such as Chase Freedom Unlimited that would probably allow you to earn more than Walmart cards do. Chase Freedom Unlimited is an all-purpose cash-back card that gives fantastic bonus categories as well as bonus points for every transaction you make.
Alternatively, if you enjoy travelling or wish to travel often apply for the Chase Sapphire Preferred Card. When used to pay for travel-related costs through Chase’s travel site, the introductory gift is worth over $750. Gain 1 point for every $1 spent at Walmart shops and elsewhere, 5 points for every $1 spent on travel booked through Chase Ultimate Rewards, 3 points for eating out, and 2 points for all other travel-related transactions.
Final Considerations
If you frequently purchase at Walmart and other businesses or simply fill up your car with petrol, a Walmart credit card can be a terrific opportunity to earn some additional cash. You won’t be concerned about the high APR or late fees if you pay off the balance monthly. Alternatively, the penalties may be too severe to justify the benefits. Explore additional rewards credit cards for increased value and value on your money.