Advertiser Disclosure
Advertiser Disclosure: The credit card and banking offers that appear on this site are from credit card companies and banks from which MoneyCrashers.com receives compensation. This compensation may impact how and where products appear on this site, including, for example, the order in which they appear on category pages. MoneyCrashers.com does not include all banks, credit card companies or all available credit card offers, although best efforts are made to include a comprehensive list of offers regardless of compensation. Advertiser partners include American Express, Chase, U.S. Bank, and Barclaycard, among others.

Capital One® Walmart Rewards™ Card – Review


FEATURED PROMOTION

At a glance

Capital One Walmart Credit Card

Our rating

3.8/5

Capital One® Walmart Rewards™ Card

  • Sign-Up Bonus: Earn 5% cash back in Walmart stores for the first 12 months from account opening when you use your Capital One Walmart Rewards Card with Walmart Pay.
  • Rewards: Unlimited 5% cash back on Walmart.com and Walmart app purchases (including in-store pickup and delivery); unlimited 2% cash back on purchases at Walmart stores, Walmart and Murphy USA gas stations, and restaurants and travel merchants; unlimited 1% cash back on all other purchases
  • Fees: $39 late payment fee
  • Annual Fee: $0
  • Credit Needed: Average


Dig Deeper

Additional Resources

High School Grads: Start College in Fall 2021 or Take a Gap Year?
9 Best Business Bank Account Promotions & Offers - October 2021
6 Best Tech Stocks to Buy in 2021
15 Tips for Shopping for Fresh Produce at Local Farmers Markets
Green Energy Tax Credits for Home Improvement & Energy Efficiency

The Capital One® Walmart Rewards™ Card, also known as the Capital One Walmart Rewards Mastercard, is a cash-back credit card with no annual fee.

It’s designed for regular Walmart shoppers, especially those who frequent Walmart.com. It’s also backed by one of the most popular credit card issuers around (Capital One).

Purchases at Walmart.com and the Walmart app, including groceries and sales marked for in-store pickup, earn unlimited 5% cash back.

You earn unlimited 2% back for purchases made inside Walmart stores, at eligible restaurants and travel merchants, and at Walmart and Murphy USA gas stations — making this a solid contender for one of the best gas credit cards as well.

All other purchases, including purchases at Sam’s Club locations and SamsClub.com, earn unlimited 1% cash back.

Beyond the rewards program, this card’s benefits are nothing to write home about, and the interest rates are on the high side. But the underwriting requirements are relatively loose, so this is an ideal first credit card for Walmart enthusiasts looking to build their credit or improve their credit.

With no annual fee and a rewards program that’s quite generous for Walmart and Murphy USA shoppers, the Walmart Rewards Card is worth keeping in your wallet.

Here’s how to get the most out of this card.

Key Features

These are the most important features and perks of this popular retailer credit card.

Sign-Up Bonus

Earn an extra 3% back (bonus cash) when you use Walmart Pay for purchases made at Walmart stores for the first 12 months from account opening. That means a total of 5% cash back on in-store Walmart purchases during the first 12 months.

Earning & Redeeming Cash-Back Rewards

The Walmart Rewards Card has a three-tiered cash-back program:

  • Online purchases made at Walmart.com and through the Walmart app earn unlimited 5% cash back (rewards rate). That includes grocery pickup purchases and other purchases marked for in-store pickup at any Walmart store. This rate applies to home delivery purchases as well.
  • Purchases made in select bonus categories earn 2% cash back. That includes purchases at Walmart and Murphy USA gas stations, inside Walmart stores, and with eligible restaurant and travel merchants all fall under this tier.
  • All other purchases, including those made at Sam’s Club locations, earn unlimited 1% cash back.

You automatically receive cash back at the end of the billing cycle. Cash back does not expire as long as your account remains open and in good standing.

Make the most of your cash back by redeeming it for statement credits against eligible purchases made during the prior 90-day period.

Possibility of Promotional Interest-Free Period

The Walmart Rewards Card doesn’t advertise a regular introductory interest-free, low-APR, or balance transfer promotion. However, its terms do mention special promotional periods that can eliminate interest charges for as long as 24 months at a stretch.

The interest-free period may apply to specific purchases or any purchases made while the promotion is active, depending on the terms of the promotion and Walmart’s discretion. It doesn’t necessarily apply only at sign-up, making it more versatile than standard introductory interest-free promotions.

Important Fees

This card has no annual fee or foreign transaction fee.

Credit Required

This card requires an average or better credit score.

Serious blemishes in your credit history, such as recent personal bankruptcies, are likely to disqualify your application; minor issues may not. This makes the Capital One Walmart Rewards Card an ideal credit card for consumers in the process of mending their credit. It’s also appropriate for people with good credit or better.

Advantages

These are the most important advantages of the Capital One Walmart Rewards Mastercard.

  1. No Annual Fee. The Walmart Rewards Card doesn’t charge an annual fee. This is great news for shoppers who want to keep this card in their wallets without paying for the privilege.
  2. 5% Cash Back at Walmart.com. Frequent Walmart.com shoppers will love this card’s unlimited 5% cash back on the retail giant’s website. The same rate applies to grocery purchases and purchases marked for in-store pickup, so it’s perfect for bulky or heavy items for which shipping is costly or impractical.
  3. Potential for a Long Introductory APR Period. Although it doesn’t have a regular interest-free or low APR introductory promotion, this card does have periodic promotions that eliminate interest across the board or on specific purchases for as long as 24 months at a time. That’s great news for cardholders planning big-ticket purchases that they can’t afford to pay off right away.
  4. Loose Underwriting Requirements. This card is available to applicants with average or better credit. Although your approval is never guaranteed, you stand a better chance of making it through the application process with this card than with better-known cash-back cards that require excellent credit.
  5. Bonus Cash Back on Restaurant and Travel Purchases. This card earns 2% cash back on restaurant and travel purchases, making it a solid companion for diners and travelers without more generous travel rewards credit cards in their wallets.
  6. No Penalty APR. The Walmart Rewards Card doesn’t charge penalty interest on past-due payments. If you occasionally miss your statement due date due to irregular cash flow or unexpected expenses, you don’t have to worry about getting locked into a sky-high rate indefinitely.

Disadvantages

Consider these drawbacks before applying for a Capital One Walmart Rewards Mastercard.

  1. Only 90 Days to Redeem Cash Back for Account Credits. When redeeming cash back for account credits, you’re only allowed to offset purchases going back 90 days. If you haven’t used your card for longer than that, you’ll need to make a purchase just to redeem your cash back.
  2. No Bonus Cash Back on Purchases Made at Sam’s Club Stores. This card earns just 1% cash back on purchases made at physical Sam’s Club stores. If you prefer to shop in person at the country’s second most popular warehouse store, you won’t get any more out of this card than any other standard-issue cash-back credit card — and possibly less. Several higher-earning cards such as the Capital One Quicksilver Cash Rewards Credit Card offer unlimited 1.5% cash back on all eligible purchases.

Final Word

The Capital One® Walmart Rewards™ Card is a great entry-level cash back credit card for regular Walmart shoppers and drivers who encounter Walmart and Murphy USA stations in their daily travels.

Despite its relatively loose underwriting standards, the Walmart Rewards Card isn’t for everyone. If you don’t qualify for this card, look instead to the Walmart Credit Card, a store credit card with a similar rewards scheme.

The Walmart Credit Card isn’t backed by Mastercard or any other credit card payment network, so you can’t use it at merchants other than Walmart, but it’s nevertheless a great rewards-bearing vehicle for folks looking to build credit.

And, considering you can buy pretty much anything at Walmart or Walmart.com, it’s versatile enough.

FEATURED PROMOTION

The Verdict

Capital One Walmart Credit Card

Our rating

3.8/5

Capital One® Walmart Rewards™ Card

The Capital One Walmart Rewards Card is good for frugal Walmart and Walmart.com shoppers, especially if they drive often enough to make the 2% cash back at Walmart and Murphy USA gas stations worthwhile. It’s also good for those who regularly spend on travel and dining out. The lack of an annual fee is appealing, but the low baseline cash-back rate makes it less versatile outside the Walmart ecosystem. The ideal user is a frequent Walmart.com shopper with less-than-perfect credit.

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Stay financially healthy with our weekly newsletter

FEATURED PROMOTION