Walmart Credit Card: A Complete Overview
Does Walmart have a credit card? Walmart is one of the most popular retailers, with over 250 million visitors daily. In addition to a wide selection of products at affordable prices, the company has great offers for customers who regularly drop in their stores or make online purchases on their website.
In our Walmart credit card overview, we’ll look into different Walmart card types, explain how they work, their advantages and potential costs, and how to make them a valuable tool for your everyday shopping needs. Whether you're considering applying for this card or already have one, we’ll help you make informed decisions about its usage.
Types of Walmart Credit Cards
There are two distinct Walmart credit card types tailored to meet varying customer needs. Let’s consider the key features and benefits of each to understand which one might be the best fit for your shopping preferences.
Capital One Walmart Credit Card
Maintained by Mastercard and launched back in 2019, it comes with a 0% annual fee, making it a cost-effective option for regular Walmart shoppers.
The card offers an attractive rewards program, providing cashback on everyday essentials, groceries, and more. Such Walmart card rewards make it a match for diverse needs, whether shopping online or offline. You can earn cash bonuses on all purchases, no matter the category, made with it under a tiered system:
- Enjoy a 5% cashback on purchases made through Walmart.com or the Walmart app, including Grocery Pickup and Delivery.
- Receive a 2% cashback on purchases made at Walmart stores and Walmart & Murphy USA Fuel Stations;
- Get a 1% cashback on all other purchases.
New cardholders can benefit from a limited-time introductory offer, providing an extra incentive for initial usage. Thus, for the first 12 months, you’ll receive 5% back on your purchases in the retailer’s stores using your newly issued card.
More than that, this Walmart shopping credit card comes with convenient online account management tools, allowing you to monitor purchases, track rewards, and make payments with ease. Besides, you gain access to exclusive Capital One's add-ons concierge service, travel insurance, and prolonged warranty, enhancing your overall banking experience.
The Capital One Walmart Credit Card is usually offered to customers with a good credit history and is a perfect choice for those who most often buy online. They will be able to get a good deal of cashback on online purchases and deliveries.
Walmart Rewards Credit Card
Much like the Capital One version, this credit card from Walmart does not come with an annual fee, making it a budget-friendly option for dedicated Walmart shoppers. It also provides user-friendly online account management tools for easy tracking of purchases, rewards, and payments.
However, unlike Capital One, the Walmart Rewards Card is only valid within the Walmart network and can’t be used at other restaurants or retail stores. Thus, you can earn:
- 5% cashback on purchases made through Walmart.com and Walmart app;
- 2% cashback when buying at Walmart stores and restaurants in the US;
- 1% cashback on offline purchases at Sam’s Club and their branded gas stations.
It’s worth noting that if your credit history is not ranked good to excellent, your Capital One application will hardly be approved, and you’ll automatically get a Walmart Rewards Credit Card. However, if you mostly shop in Walmart, it’s a great option anyway.
With $0 annual fees, both Walmart credit cards will get you free money on cashback. But you should remember that both of these options still have a regular APR and accrue interest on balance transfers and cash advances. So, to get the most out of the proposed cashback programs and avoid added Walmart credit card payments, you should repay your balance monthly.
Benefits of the Walmart Credit Card
If you are still hesitant about getting one of the above options and doubt their value, consider a range of their benefits designed to enhance your shopping experience and provide financial flexibility.
Surely enough, the Walmart credit card cashback rewards program is one of the paramount features of Walmart credit cards. A tiered cashback system provides higher returns for purchases made through Walmart's various channels. In combo with a $0 annual fee, it allows cardholders to reap tangible monetary benefits of their standing.
However, there are a host of other significant Walmart credit card benefits:
Special Financial Offers
Depending on your creditworthiness, the credit card at Walmart may offer special financing options on certain purchases. This means you could potentially make larger purchases and pay them off over time without incurring interest charges.
Added Cardholder Perks
Above Walmart credit card rewards, you can get access to other nice extras such as discounts on fuel purchases at Walmart and Murphy USA gas stations, early access to special promotions, and other exclusive offers.
Online Account Management
Each Walmart store card provides a user-friendly online platform for managing your account to keep an eye on your transaction history, monitor rewards, make payments, and set up alerts. You’ll get full control and visibility over your financial activities.
Building Credit
The Walmart shopping credit card can be a valuable tool for those looking to build or improve their credit history. By making timely payments and keeping balances low, cardholders can demonstrate responsible credit management, potentially leading to improved credit scores.
WALMART CREDIT CARD RELATED COSTS: FEES AND RATES TO CONSIDER
As we’ve mentioned above, along with lucrative rewards and perks, both Walmart credit card types entail certain fees and rates, just like pretty much any other regular credit card would. However, being aware of current fees and interest accrual conditions, you’ll be able to juggle your credit card from Walmart to reap its best benefits and avoid extra costs.
A good thing about both variants is that they don’t charge annual fees for maintenance. It will translate into a tangible annual saving, especially if you manage to skip interest payments. Speaking of which, if you repay the balance in full during a 25-day grace period after each billing cycle, you won’t be charged interest. At the same time, though, both of them have no introductory APR and will accrue APR on purchases from the very beginning. It will be 19.48%-29.99% for the Capital One card and 29.99% for the branded Walmart store card.
To continue, missing a payment deadline can result in late payment fees, which can add up quickly and negatively impact credit scores. With that, you should be wary of a $39 late payment fee applicable to both Walmart cards.
While the Walmart Rewards Card will have you set only within the retailer network, the Capital One can be used as an ordinary credit card anywhere Mastercard is accepted. As such, it can even be used abroad with no foreign transaction fees attached, which is a big plus for frequent travelers.
The Capital One credit card from Walmart also allows for cash advances and balance transfers, enabling cardholders to cash out funds in ATMs or move balances from one card to another. The question is, though, whether these are cost-wise options. Initially designed as a rewards card for Walmart shoppers, Capital One charges hefty fees for card operations beyond purchases. Thus, the transfer APR will vary from 19.48% to 29.99%, or you’ll have to pay 3% of the balance transfer amount under the promotional APR the bank can offer. Cash advances are charged at $3 or 3% per transaction, whichever is greater. With that, it is not the best alternative for such transactions.
Final Thoughts
All in all, both Walmart credit cards offer valuable rewards and convenience for Walmart enthusiasts, ensuring that your shopping experience is not only efficient but also financially rewarding.
To be more specific, though, the Capital One card brings a more comprehensive set of capabilities and is an optimal choice for online shopping fans. In the meantime, the Walmart Rewards Credit Card is a solid choice for those primarily making in-store purchases.
Your choice to use one of the Walmart plastics depends on your shopping habits, financial goals, and ability to manage credit responsibly. If you frequently shop at Walmart and can commit to responsible use, the card can provide significant value.
FAQ
How can I apply for a Walmart credit card?
To use the Walmart credit card rewards, you can apply for it either online via the retailer’s website or in any store near you. Just make sure your credit history is OK and you fully understand the terms and conditions.
Can I use my Walmart credit card to shop online on Walmart.com?
If you are an online shopper, both Walmart credit cards are good for making purchases via Walmart.com or the Walmart app. With the Capital One card, you’ll even get cashback on delivery.
How can I maximize the benefits of my Walmart credit card?
To enjoy Walmart credit card benefits to the max, choose the type that best matches your shopping needs. Regularly review and redeem rewards. Plan big purchases and take advantage of special financial options for them. Also, avoid carrying a balance from month to month to prevent interest charges.
Where can I use a Walmart credit card?
The scope of use depends on the card type. Thus, the Walmart store card is a branded card suitable for use only at Walmart-associated points of sale. You can use it in retailer’s brick-and-mortar stores or for online shopping through Walmart.com and Walmart app. It’s accepted at Murphy USA gas stations to help you earn rewards on gas expenses and in Sam’s Club wholesale centers.
The Capital One card, on the other hand, can function as an all-purpose credit card within the Mastercard coverage. As such, it can be used in millions of online and offline stores. Featuring no foreign transaction fees, it’s also a great choice for purchases and payments abroad.
Can I pay bills with a Walmart credit card in-store?
With Walmart’s exclusive “Bill Pay” service, you can settle your pending bills as you shop, be it rent, utilities, insurance, healthcare services, insurance, credit payments, or loans. You just need the biller’s name and account number and cash or a card to pay with. Yet, be mindful of transfer rates.
Likewise, you can pay your Walmart credit card balances at the customer service desk across Walmart and Sam’s Club stores. Just remember to take a physical card with you.
How much does the Walmart credit card cost?
Both Walmart credit card types include no annual fee. So, opening a card and adding it to your digital wallet is free of charge. At the same time, both cards entail quite high-interest rates. So, you should keep an eye on timely balance settlements each month to avoid hefty interests eating out a part of your budget and reducing the effect of rewards.
