Walmart currently offers two credit card options to its shoppers: the Walmart Rewards Card and Capital One Walmart Rewards Mastercard. The main difference between the two is that one can only be used at Walmart, while the other can be used to make purchases anywhere. The good news for you is the benefits of each card are virtually identical.
Here’s what to expect when you apply for a Walmart Rewards Card or Capital One Walmart Rewards Mastercard.
Walmart Rewards Card and Capital One Walmart Rewards Mastercard
Both cards have no annual fee and cardholders will earn unlimited:
- 5% back on purchases at Walmart.com, inclusive of Walmart Grocery Pickup and Delivery
- 5% back on in-store purchases when using Walmart Pay for the first 12 months after approval as a special introductory offer
- 2% back on Walmart purchases in stores outside of the introductory offer
- 2% back on restaurants and travel, and 1% percent back everywhere else with the Capital One Walmart RewardsMastercard
- The ability to redeem rewards at any time for travel, gift cards, during online checkout at Walmart.com, for recent purchases and statement credits
Online account management available through Capital One
Four Reasons to Like the Walmart Cards
Save Rewards program, which grants varying amounts of cash back on certain types of purchases.
Here four other big reasons to like these cards:
#1: You get 5 percent off Walmart.com purchases.
The main selling point of both the Walmart Rewards Card and Capital One Walmart Rewards Mastercard is that they offer 5 percent cash back on Walmart.com purchases. For the average family of four, that’s an average savings of over $100 per year.
The only caveat is that in-store purchases don’t qualify unless you are using Walmart Pay for the first 12 months after approval. So, if you use your card at a physical Walmart store, you’ll get the standard 2 percent back, as you would with a purchase at any other store.
#2: Rewards can be earned on Grocery Pickup.
Walmart’s Grocery Pickup service allows customers to order and pay for their groceries online and pick them up in-store, and the 5% cash back offer works on these purchases.
#3: There’s no annual fee.
Neither card carries an annual fee. So you won’t have to make any calculations to decide if the benefits are worth the cost.
#4: Free FICO® Score reporting.
US federal law allows you to get a free FICO credit report once every 12 months. With a Walmart credit card, you’ll get the same reporting monthly via your electronic statement. This is a fairly standard feature for credit cards nowadays, but still a nice feature to have.
The Bottom Line
With no annual fees to worry about, there’s plenty of value to be had, especially if you’re a regular Walmart.com shopper. But if you prefer to make in-store purchases, keep in mind that some cash back cards may offer better rewards – like the Citi® Double Cash Card, which gives a flat 2% cash back on all purchases.