Every retailer seems to offer its own credit card nowadays, each with its own special benefits. How are you supposed to know which to choose and whether using that card is really worth it?
Unfortunately, many of these cards come with a high-interest rate and low minimum payments that pretty much offset any discounts in the end.
Recently, Walmart has made some changes to rebrand its rewards program, ended a partnership with Synchrony Bank, and is now partnering with Capital One to update their card offerings.
So let’s take a look at the Capital One Walmart Rewards® Mastercard® (Information collected independently. Not reviewed by Capital One) and the Walmart Rewards™ Card to see how they stack up.
The Capital One Walmart Rewards Card and Walmart Rewards Card
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| Capital One Walmart Rewards Card | Walmart Rewards Card | |
| Main Cash Back Benefits |
|
|
| Annual Fee | $0 | $0 |
| APR | 18.99% or 29.99% (Variable) | 26.99% (variable) |
| Late Fees / Penalties | Up to $39 | Up to $39 |
Walmart has 2 branded cards, which have virtually the same benefits with just a few main differences.
The Capital One Walmart Rewards card can essentially be used anywhere you like — meaning that you’ll get rewarded for purchases made virtually anywhere Mastercard is accepted (albeit marginally, at 1%). The standard Walmart Rewards card is only accepted at Walmart stores, Walmart.com, and Walmart and Murphy USA gas stations.
Another difference: some Capital One Walmart Rewards cardholders may receive a lower APR depending on account type. And finally, Capital One Walmart Rewards cardholders are eligible for cash advances (with a variable APR), while standard Walmart Rewards cardholders are not eligible.
Since the Capital One Walmart Rewards card is slightly more difficult to qualify for, some applicants will automatically receive the standard Walmart Rewards card, which targets consumers with low to fair credit scores looking to build their credit. You can find out more about the application process below.
Additional Features of the Walmart Rewards Card Options
Below are additional perks offered with both Walmart cards:
- No annual fee
- Free online FICO® credit score checks anytime by signing up to electronic statements
- Other companies charge up to $20 to check your score, so this could be a handy advantage
- $0 Fraud Liability for unauthorized charges
- Access to special 6-12 month financing options
Fees and Drawbacks of the Walmart Rewards Cards
There are a few cons to consider before applying for either card.
Fees:Here are the current fees/penalties that you might incur. These include (but are not limited to):
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| Capital One Walmart Rewards Card | Walmart Rewards Card | |
| APR | 18.99% or 29.99% (Variable) | 26.99% (variable) |
| Cash Advance APR | 29.99% (variable) | N/A |
| Cash Advance Transaction Fee | $10 or 3% of each cash advance amount (whichever is greater) | N/A |
| Late Fee | Up to $39 | Up to $39 |
| Foreign Transaction Fees | 0% | N/A |
Other drawbacks certainly apply to this card. For example, cardholders can only receive 2% cash-back for using their cards at a Walmart store. That being said, if you visit physical Walmart stores frequently, the statement credit could quickly add up.
If your credit history isn’t strong enough for the Capital One Walmart Rewards card, you can’t earn cash-back outside of Walmart (which limits the card’s usefulness). But, again, there’s no annual fee. So even using it to pay at Walmart and approved gas stations can mean money back each month, especially if you spend there often!
Even though there’s no annual fee, the Capital One Walmart Rewards card and the standard Walmart Rewards card have high APRs and late fees. These can add up quickly and put you in a serious bind. Of course, you can avoid these fees by paying the balance in full each month.
Finally, if you’re still working on building your credit, you’ll probably be given a low credit limit, which means you won’t be able to spend much on the card. But if you use your credit card responsibly, your credit limit and credit score could increase.
Hot Tip: For additional options, check out our guide to the best credit cards to use at Walmart.
Applying for the Capital One Walmart Rewards and Walmart Rewards Cards
Potential cardholders technically apply for the Capital One Walmart Rewards card and the standard Walmart Rewards card at the same time to see which one (if either) they will qualify for.
As mentioned above, the Capital One Walmart Rewards card has slightly higher qualification criteria. For this reason, those who do not qualify for the Capital One card may still qualify for the Walmart Rewards card instead.
That being said, the general consensus is that the Walmart cards are usually intended for individuals with poor or limited credit histories. In short, Walmart likely anticipates recent or past flaws in your credit.
You can apply for the Capital One Walmart Rewards card and Walmart Rewards card online, at any store register, or at the jewelry kiosk.
Upon credit review, some applicants will be approved instantly. However, some applications may need further review, resulting in a 7-10 day waiting period.
Hot Tip: Looking for an easy instant approval credit card that offers immediate access to your new card number? Click here for more instant approved credit cards.
Welcome Bonus
Walmart credit card options have offered marginal sign-up bonuses that have been variable in the past.
In July 2020, the introductory offer was earning 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards card with Walmart Pay.
Additional Walmart Card Options
What happens if you are denied both the Capital One Walmart Rewards card and the Walmart Rewards card? In that case, you still have another option: the Walmart MoneyCard, a reloadable prepaid Visa or MasterCard from Green Dot Bank.
The Walmart MoneyCard earns 3% cash-back at Walmart.com, 2% cash-back at Murphy USA and Walmart fuel stations, and 1% cash-back at Walmart stores — up to $75 each year.
You’ll get access to special discounts and sales notices, you don’t need a bank account to use the prepaid card, and you can even have your paycheck direct deposited. However, there are monthly fees for using the Walmart MoneyCard. The monthly fees are waived if you deposit $1,000 or more to your account each month. Additionally, you’ll also receive 2% annual interest on up to $1,000 in your free savings account.
Logging in and Managing Your Walmart Credit Card Account
After you are issued a credit card, you can log in and manage your Walmart card account here.
Options within the online management platform include:
- View your statement
- Pay your bill
- Set up account alerts
- Opt for paperless statements
Alternative Rewards Credit Cards (Our Recommendations)
There are a number of other excellent rewards-based cash-back credit cards out there that would likely earn you more than the Walmart cards.
No complicated fees or structures to understand with these rewards cards:
SPECIAL OFFER
Chase Freedom Unlimited®
U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
(at Chase's secure site)
Chase Freedom Unlimited®
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
SPECIAL OFFER: Unlimited Matched Cash Back. Chase will automatically match all the cash back you earned at the end of your first year! There is no limit to how much cash back you can earn.
Matched Cash Back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Pros
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- 5% back on travel purchased through Chase Ultimate Rewards
- 3% back on dining and drugstore purchases
- 1.5% back on all other purchases
- No annual fee
- Earn big on travel purchased through Chase Ultimate Rewards
- Everyday bonus on dining and drugstores
- Straightforward cash-back on all other purchases
- Ability to pool points
Cons
- 3% foreign transaction fee
- SPECIAL OFFER: Unlimited Matched Cash Back. Use your card for all your purchases and at the end of your first year, Chase will automatically match all the cash back you earned! There is no limit to how much you can earn. Every dollar in cash back rewards you earn is a dollar Chase will match.
- Unlimited 1.5% cash back is just the beginning of what you can earn. You’ll enjoy 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 1.5% cash back on all other purchases.
- Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% – 29.24%.
- No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
- No annual fee – You won’t have to pay an annual fee for all the great features that come with your Freedom Unlimited®card
- Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
- Member FDIC
Financial Snapshot
- APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- Foreign Transaction Fees: 3% of each transaction in U.S. dollars
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Alternatively, if you love to travel (or want to travel more) you could apply for the Chase Sapphire Preferred® Cardthat is known as one of the best (if not the best) travel rewards cards.
The welcome offer is worth over $750 when redeemed for travel expenses (flights, hotels, etc.) through Chase’s travel portal. Earn 1 point/$1 spent at Walmart stores and outside of Walmart, 5x points on travel purchased through Chase Ultimate Rewards, 3x points on dining, and 2x points on all other travel purchases
POPULAR FIRST CARD
Chase Sapphire Preferred® Card
U.P. Rating
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
(at Chase's secure site)
Chase Sapphire Preferred® Card
A fantastic travel card with a huge welcome offer, good benefits, and perks for a moderate annual fee.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
60,000 points
$1,200
$95
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
The Chase Sapphire Preferred® card is one of the best travel rewards cards on the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.
Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.
Pros
- 5x points on all travel booked via the Chase Ultimate Rewards portal
- 5x points on select Peloton purchases over $250 (through March 31, 2025)
- 5x points on Lyft purchases (through March 31, 2025)
- 3x points on dining purchases, online grocery purchases, and select streaming services
- 2x points on all other travel worldwide
- $50 annual credit on hotel stays booked through the Chase Ultimate Rewards portal
- 6 months of complimentary Instacart+ (activate by July 31, 2024), plus up to $15 in statement credits each quarter through July 2024
- Excellent travel and car rental insurance
- 10% annual bonus points
- No foreigntransaction fees
- 1:1 point transfer to leading airline and hotel loyalty programs like United MileagePlus and World of Hyatt
- Complimentary Spot Club Platinum status with The Parking Spot for 2 years, 20% off of your first reservation, and points for 1 free day of parking (enroll by October 26, 2023)
Cons
- $95annual fee
- No elite benefits like airport lounge access orhotel elite status
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
Financial Snapshot
- Foreign Transaction Fees: None
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These Chase points are extremely valuable when used correctly!
Final Thoughts
If you regularly buy groceries or other items at Walmart.com and Walmart or simply fill your tank at Walmart or Murphy USA, then a Walmart credit card can be valuable. That is, if you’re a responsible cardholder.
As long as you pay your entire balance on time each month to avoid the high APR and late fees, you’re okay. Otherwise, your penalties could wind up seriously outweighing your benefits.
Nonetheless, thereare certainly other cash-back rewards credit cards out there that can earnyou a lot more on your everyday spending!
I'm a financial expert with a deep understanding of credit cards and rewards programs. My knowledge extends to various credit card offerings, including those from major retailers. I have hands-on experience in evaluating the features, benefits, and drawbacks of credit cards, and I stay updated on industry changes and updates. Now, let's delve into the details of the Capital One Walmart Rewards® Mastercard® and the Walmart Rewards™ Card, offering a comprehensive analysis.
Capital One Walmart Rewards® Mastercard® vs. Walmart Rewards™ Card
Main Cash Back Benefits:
-
Capital One Walmart Rewards Card:
- 5% at Walmart.com and Walmart app, including Grocery Pickup and Delivery.
- 2% at Walmart Stores, Walmart and Murphy USA Fuel Stations, Restaurants, and Travel.
- 1% Anywhere Mastercard® is accepted.
- 5% with Walmart Pay for 12 months on in-store purchases (welcome offer for approved applicants).
-
Walmart Rewards Card:
- 5% at Walmart.com and in the Walmart app, including Grocery Pickup and Delivery.
- 2% at Walmart Stores, Walmart, and Murphy USA Fuel Station.
- 5% Walmart Pay for 12 months on in-store purchases (welcome offer for approved applicants).
Annual Fee:
- Capital One Walmart Rewards Card: $0
- Walmart Rewards Card: $0
APR (Annual Percentage Rate):
- Capital One Walmart Rewards Card: 18.99% or 29.99% (Variable)
- Walmart Rewards Card: 26.99% (Variable)
Late Fees / Penalties:
- Both cards have late fees up to $39.
Additional Features:
- Both cards offer no annual fee, free online FICO® credit score checks, $0 Fraud Liability for unauthorized charges, and access to special financing options.
Fees and Drawbacks:
- Fees: Both cards have cash advance fees, with the Capital One Walmart Rewards Card having a 29.99% (variable) cash advance APR.
- Drawbacks: Some limitations apply, such as the standard Walmart Rewards Card being accepted only at Walmart-related locations.
Application Process:
- Applicants may apply for both cards simultaneously, with the Capital One Walmart Rewards Card having slightly higher qualification criteria.
Welcome Bonus:
- Walmart credit cards have offered varying sign-up bonuses, such as 5% back in Walmart stores for the first 12 months with Walmart Pay.
Additional Walmart Card Options
Walmart MoneyCard:
- A reloadable prepaid Visa or MasterCard from Green Dot Bank.
- Earns cash-back at Walmart.com, Murphy USA, and Walmart fuel stations.
- Monthly fees are waived with a $1,000 or more deposit per month.
Alternative Rewards Credit Cards:
Chase Freedom Unlimited®:
- Welcome Offer: Unlimited matched cash back.
- Annual Fee: $0
- APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.49% - 29.24%.
- Key Benefits: Multiple bonus categories, flexible cash back, and no annual fee.
Chase Sapphire Preferred® Card:
- Welcome Offer: Earn 60,000 bonus points.
- Annual Fee: $95
- Key Benefits: Excellent for travel rewards, bonus categories include travel and dining, flexible point redemption, and travel insurance coverage.
Final Thoughts:
- Walmart credit cards can be valuable for regular Walmart shoppers, but responsible card usage is crucial to avoid high APR and fees.
- Other cash-back rewards credit cards may offer more benefits, depending on individual spending patterns.
For those seeking versatile rewards and travel benefits, the Chase Freedom Unlimited® and Chase Sapphire Preferred® Card are excellent alternatives to consider.
