If you’re an avid Walmart shopper, whether online or in their physical stores, the Capital One Walmart Rewards® Mastercard®* could easily become your go-to credit card for a wide range of purchases, from groceries to everyday items, electronics, and home furnishings.
The absence of an annual fee is a definite perk, and it gets even better with the card’s impressive 5 percent cash back on Walmart.com purchases, which includes grocery pickup and delivery orders. Additionally, it offers 2 percent cash back for in-store purchases, putting it on par with flat-rate cash-back cards. What sets this card apart is its instant usability, allowing you to start accumulating generous rewards at Walmart within minutes of approval.
If you make the most of its high earning potential and manage your balances responsibly, the Walmart Rewards Mastercard stands as a reliable choice. However, if your shopping preferences extend beyond Walmart, you may want to explore a versatile rewards credit card that offers bonus cash back in various categories, potentially delivering more overall value for your spending.
REWARDS
You get a solid 5 percent cash back when you shop on Walmart.com, even if you’re using their pickup and delivery services.
When you make purchases at physical Walmart stores, fill up your gas tank at Walmart fuel stations, dine at restaurants, or spend on travel, you’ll earn 2 percent cash back.
For all other places where you can use your Mastercard, you’ll still get a little something back – 1 percent cash back.
Unlocking Benefits: Capital One® Walmart Rewards® Card Rewards
Earning Rewards
Earning Rewards with the Capital One Walmart Credit Card
The Capital One Walmart Credit Card offers an array of rewards that cater to different shopping habits. Here’s how it breaks down:
5% Cash Back on Walmart.com and in the Walmart App: If you’re an avid online shopper and frequently use the Walmart app, you’re in for a treat. This card rewards you with an impressive 5% cash back on your purchases, and that includes grocery pickup and delivery orders. It’s worth noting that this is quite special because many credit cards with grocery bonuses often exclude superstores like Walmart.
In-Person Shopping: However, if you prefer the in-store shopping experience, your rewards won’t be as enticing after the first year. By linking your card to Walmart Pay and using it for in-store purchases, you can enjoy 5% cash back for the first 12 months, after which it drops to 2%.
Also Read: Carter’s Credit Card: Your Ultimate Shopping Companion
2% Cash Back on Dining, Travel, and Walmart Fuel Stations: You’ll earn a respectable 2% cash back when dining out, traveling, and filling up at Walmart or Murphy USA fuel stations. This is comparable to what you’d get with a standard cash-back card.
1% Cash Back Everywhere Else: For all other purchases made with your Capital One Walmart Credit Card, you’ll receive 1% cash back. However, this isn’t particularly competitive when compared to some of the top cash-back credit cards on the market.
In summary, the rewards offered by this card are highly appealing if you’re a dedicated Walmart app user or a frequent online shopper. For in-store shoppers, the rewards may diminish after the first year. It’s crucial to evaluate your shopping preferences and compare this card to others to determine if it’s the best fit for your financial needs.
Redeeming Your Walmart Rewards
When it comes to cashing in your rewards with the Walmart Rewards card, the process is pretty straightforward. You have several options for redeeming your hard-earned rewards, and they all carry the same value. These options include using your rewards as a statement credit, applying them during online checkout at Walmart.com, making points-based payments at checkout through Walmart Pay, erasing previous Walmart purchases, booking travel via the Capital One travel center, or using them for gift cards. Since the value remains consistent regardless of the method you choose, redeeming as a statement credit stands out as the most versatile option, as it can be applied to any purchase made with your card.
Unlocking Your Rewards Potential
To gauge the reward potential of credit cards, Forbes Advisor takes a data-driven approach, relying on information from various government agencies to establish baseline income and spending averages across different categories. For this evaluation, we consider households at the 70th percentile of wage earners, with an annual income of $116,000, and use this figure as the basis for our spending calculations.
The Capital One® Walmart Rewards® Card* offers an impressive 5% cash back for the first year on all Walmart Pay purchases. In our assessment, we assume that all Walmart purchases will continue to earn 5% cash back, even after the first year, given that items ordered through the Walmart app are readily available for in-store pickup. Additionally, we presume that all gas purchases are made at Walmart-owned stations, which includes Murphy USA.
Based on our estimates, our sample household spends approximately $6,692 on groceries, resulting in $334.60 in annual cash back. Dining out expenses of $3,856 earn an additional $77.12, while $6,044 in travel expenditures yield $120.88 in cash back. Gas purchases amounting to $2,479 accumulate $49.58 in rewards at 2% cash back, and the remaining spending of $17,106 adds another $171.06, bringing the total annual cash back to $753.24 for the first year.
Additional Benefits of the Capital One® Walmart Rewards® Card
The Capital One Walmart card, as a World Elite Mastercard, offers a range of valuable perks and benefits designed to enhance your cardholder experience:
Price Protection: You’re covered for the price difference, up to $250, if you spot an eligible item that you purchased with your Capital One Walmart card at a lower price within 120 days of your purchase. You can make up to four claims per year.
Extended Warranty: This benefit extends the warranty on eligible items with an existing warranty of two years or less, providing coverage for up to an additional two years. It covers repair or replacement costs up to $10,000.
Cellphone Insurance: Available exclusively with the World Elite version of the card, this feature offers coverage of up to $600 per eligible claim, with a maximum of $1,000 in claims within a 12-month period. Each claim is subject to a $50 USD deductible, and you can make up to two claims per 12-month period.
Auto Rental Insurance Coverage: When you use your card to pay for the entire rental purchase or decline rental counter coverage, you receive secondary coverage for damage or theft to an eligible rental.
Concierge Service: Take advantage of a complimentary Capital One concierge service. They can assist you in choosing a restaurant in an unfamiliar city, booking event tickets, or making travel reservations.
Trip Cancellation/Interruption Insurance: If your trip is canceled or interrupted due to a covered reason, such as an eligible medical issue, you can receive reimbursement of up to $1,500 for common carrier charges related to your travel.
These additional benefits provide an added layer of security and convenience, making your Capital One Walmart Rewards card a more valuable tool for your everyday needs and travel plans.
Also Read: All You Need to Know About Ollo Credit Cards
Capital One® Walmart Rewards® Card* vs. Citi® Double Cash Card: A Versatile Comparison
If the thought of committing to a single store makes you feel restricted, you might want to consider a versatile contender like the Citi Double Cash card. This card offers a straightforward 2% cash back on all your purchases: 1% when you make the purchase and another 1% when you pay it off. The best part? It comes without an annual fee.
While the Citi Double Cash card doesn’t provide the extra 5% back on Walmart or specific store purchases, the consistent 2% cash back on everything you buy could potentially match or even surpass the extra rewards you’d earn on Walmart purchases alone. If you prefer cash back over points and want to keep just one card in your wallet, a 2% cash back card is often your best bet.
Here’s another clever idea: why not pair both cards together? Use the Walmart Rewards card exclusively for your Walmart shopping, maximizing those benefits, and rely on the 2% cash back card for all your other spending. This way, you get the best of both worlds, tailored to your shopping habits.
Special Welcome Offer
Here’s a fantastic introductory deal for you: Get 5 percent cash back when you shop at Walmart stores during your first 12 months using your Capital One Walmart Rewards Card with Walmart Pay.
Key Features
5% Cash Back in Walmart Stores for the First Year: Enjoy a generous 5% cash back on your in-store Walmart purchases for your first 12 months, but remember to use your Capital One® Walmart Rewards Card with Walmart Pay.
No Annual Fee: There’s no annual fee to worry about, so it won’t cost you anything to enjoy the card’s benefits.
5% Back on Walmart.com and in the Walmart App: When you shop on Walmart.com or use the Walmart app, you’ll earn 5% cash back. This includes grocery pickup and delivery services.
2% Cash Back on Restaurants and Travel: For dining out and travel expenses, as well as purchases at Walmart stores, Walmart, and Murphy USA gas stations, you’ll earn 2% cash back.
1% Cash Back Everywhere Else: For all your other purchases, wherever Mastercard® is accepted, you’ll still get a 1% cashback.
$0 Fraud Liability: Rest easy knowing that you won’t be held responsible for unauthorized charges on your card.
Capital One Mobile App: With the Capital One Mobile app, you can conveniently manage your card, make payments, receive real-time purchase notifications, lock or unlock your card, and more, right from your smartphone.
This card not only provides enticing rewards but also offers features designed to make your financial life easier and more secure.
Rates and Costs
Interest Rates: The Annual Percentage Rate (APR) for this card can vary between 18.99 percent to 29.99 percent. This is the interest you’ll be charged on any outstanding balances on your card.
Annual Fee: The good news is that there’s no annual fee to worry about. You won’t have to pay a yearly charge for using this card.
Balance Transfer Fee: If you decide to move balances from other cards, you won’t be charged for it as long as you do it at the Transfer APR. But, if you transfer balances at a promotional APR offered by Capital One, you’ll pay a 3% fee on the amount being transferred.
Cash Advance Fee: If you need to get a cash advance using your card, there’s a fee of 3% on the amount you withdraw, with a minimum charge of $3.
Late Payment Fee: Be sure to make your payments on time, as late payments can lead to a fee of up to $39.
Interest and Charges
Regular APR: The regular APR (Annual Percentage Rate) for this card can be either 18.99% or 29.99%, and it’s variable, meaning it can change over time.
Introductory APR: There are no special introductory rates for purchases or balance transfers with this card.
Annual Fee: Good news, there’s no annual fee, so you won’t have to pay just for having the card.
Balance Transfer Fee: If you decide to transfer balances from other cards, you’ll pay a 3% fee on the amount being transferred, but only if you’re moving it at a promotional APR offered by Capital One.
Foreign Purchase Transaction Fee: You won’t be charged extra for making purchases in foreign currencies.
Additional Cardholder Benefits
Unfortunately, this card doesn’t come with any extra perks for cardholders.
Pros and Cons of the Capital One Walmart Rewards Mastercard
Pros:
No annual fee: You won’t have to pay an annual fee just for having this card.
Multiple ways to use your rewards: You have flexibility in how you can redeem your rewards.
Great rewards for Walmart.com and grocery purchases: You can earn a solid rate of rewards for your Walmart.com and grocery shopping, which is excellent for those who frequent these places.
Instant card use with the Walmart app: As soon as you’re approved, you can start using your card through the Walmart app.
Up to 5% cash back at Walmart.com: You can earn up to 5% cash back on Walmart.com purchases.
2% cash back at restaurants and on travel: Dining out and traveling can earn you 2% cash back, which is quite good.
No foreign transaction fee: You won’t be charged extra for making purchases in foreign currencies.
Cons:
Walmart Pay app required for the welcome offer: To take advantage of the card’s welcome offer, you need to use the Walmart Pay app, which may not be convenient for everyone.
No extra perks: Unfortunately, there are no additional benefits or rewards beyond the cash back.
Lower rewards rate for in-store Walmart purchases: The ongoing rewards rate for in-store Walmart shopping is only 2 percent, which might not be as enticing.
Soft pull preapproval not available: There’s no soft pull preapproval option currently offered for this card.
Base reward rate of 1%: The default reward rate for all other purchases is 1%, which is not as high as some other cards.
Variable and relatively high APR: Depending on your creditworthiness, the APR can be quite high, ranging from high to very high.
No introductory APR offers: This card doesn’t come with any special introductory APR offers for balance transfers or purchases.
Quick Card Facts
No annual fee to worry about.
A special welcome bonus: You can earn 5% cash back on your in-store Walmart purchases during the first 12 months when using the Capital One Walmart Rewards card with Walmart Pay.
Earnings of 5% cash back on Walmart.com & in the Walmart app, including grocery pickup and delivery, 2% on restaurant and travel expenses, and at Walmart Stores, Walmart, and Murphy USA fuel stations, and 1% cash back on all other purchases.
Methodology
At Forbes Advisor, we employ a comprehensive set of criteria to assess and rate credit cards. Our evaluations take into account a variety of factors, including:
Annual fees
Welcome bonus offers
Ongoing earning rates
The value of individual points or miles
Included travel or merchant credits
Additional benefits for cardholders
We prioritize features that we anticipate cardholders will use most frequently, assigning them greater weight in our ratings. These combined factors contribute to the assignment of a star rating for each individual card.
Why the Capital One Walmart Rewards Mastercard Might Be Right for You
For dedicated Walmart shoppers who frequently make online purchases, the Capital One Walmart Rewards Mastercard is a strong contender. This card stands out with its generous cashback rates, particularly when shopping on Walmart.com. Moreover, it offers a solid flat rate for essential expenses like gas, dining out, and travel.
Rewards: Exceptional for Regular Walmart Shoppers
If you’re a frequent Walmart customer, especially online shoppers on Walmart.com, this card can outperform many other cashback and rewards cards. However, its value extends beyond just online shopping. You can also maximize its benefits when dining at restaurants, fueling up at Walmart gas stations, and embarking on your travel adventures. This unique combination of enhanced rewards for brand loyalty and competitive rates for everyday purchases sets the Capital One Walmart Rewards Mastercard apart from other store-specific credit cards. If you primarily shop online at Walmart and are looking for a single rewards card, this one is a strong contender.
Also Read: Ultimate Guide to Ally Bank Credit Cards: Choosing the Right Card for You
The one caveat to keep in mind is that the card’s highest cashback rate primarily applies to online purchases at Walmart.com. While this restriction won’t pose an issue for savvy online shoppers, those who prefer in-store shopping will earn a lower cashback rate. Nevertheless, even in-store shoppers will benefit from a competitive cashback rate for Walmart purchases, at 2 percent. It’s challenging to find another credit card that offers equal or better cashback rates at Walmart, as many cards with boosted rewards specify that Walmart purchases are not eligible for bonus points or cashback.
Unique Opportunity to Earn a Generous Cash Back Bonus
This card comes with a special welcome offer that can put a significant amount of cashback in your pocket during your first year of card membership. For the initial 12 months, when you use your card with Walmart Pay for purchases in Walmart stores, you can earn an impressive 5 percent cash back. If you’re an in-store shopper at Walmart, this welcome offer can help you accumulate a substantial cash-back balance before your ongoing cash-back rate of 2 percent kicks in.
Typical welcome offers on similar cash-back cards usually cap out at around $200, and you’re required to spend anywhere from $500 to $3,000 to unlock them. The Walmart Rewards Mastercard stands out by offering a welcome bonus without a maximum limit or a spending requirement. You have the flexibility to spend as little or as much as you’d like in Walmart stores and earn a solid 5 percent back. To put this offer in perspective with others, if you spend at least $4,000 in Walmart stores, you’ll earn a $200 cash-back bonus, making it competitive with typical welcome offers.
However, the more you spend, the more generous this offer becomes. For example, if you make $12,000 worth of in-store purchases at Walmart within your first year with the card, you could earn a remarkable $600 in cash back. This is three times the cash value of welcome offers on cards like the Chase Freedom Flex℠ and the Bank of America® Customized Cash Rewards credit card.
While this offer does require a significant amount of spending, it doesn’t place any restrictions on the cash bonus you can earn. If you anticipate substantial in-store spending at Walmart during your first year, whether you’re furnishing a new home or regularly shopping for groceries and household essentials, this card presents an excellent opportunity to earn a substantial cash bonus.
APR: Your Card’s Interest Rate
The Walmart Rewards Mastercard offers a regular APR that can potentially be quite reasonable. On the lower end of the scale, it’s lower than what you’d typically find with most cashback cards. Your creditworthiness plays a crucial role in determining whether you qualify for this card’s lowest APR. However, keep in mind that those with less-than-ideal credit profiles might not be eligible for the lowest APR.
Many cashback cards tend to have favorable APRs. However, store-specific cards like the Walmart Rewards Mastercard often come with relatively high APRs, which can result in accruing substantial interest on your credit card balance.
For example, the Prime Visa card has a regular APR ranging from 19.49% to 27.49% Variable. This range is a bit higher than the lowest possible APR for the Walmart Mastercard and slightly lower on the high end. If you have an excellent credit history, you might secure a lower APR with the Walmart card compared to the Prime Visa card.
On the other hand, the Costco Anywhere Visa® Card by Citi card comes with a regular APR of 20.49 percent (variable) and a penalty APR that can reach up to 29.99 percent. While the Costco card maintains a consistent APR, it’s higher than the lowest possible APR for the Walmart Rewards Mastercard. Additionally, it could impose a high penalty APR if you make a late payment or if a payment bounces. Fortunately, the Walmart Mastercard does not have a penalty APR. While it’s crucial to make timely payments, you can have peace of mind knowing that your APR won’t skyrocket dramatically if you miss a due date.
When a Different Cash Back Card Might Be a Better Fit
While this card offers advantages for Walmart shoppers, it might not be the best choice for everyday cardholders seeking a straightforward, hassle-free cashback card.
Intro APR: Interest Can Start Accruing Early
Many of the top cashback cards provide introductory APR offers for either balance transfers or new purchases, and some even offer both. These offers allow cardholders to avoid interest charges while they make payments as they wish (during the offer term) and take advantage of attractive cashback rates. However, the Walmart Rewards Mastercard lacks any introductory APR offers, which means that your balance will begin accruing interest at the card’s regular APR if you carry a balance from the start.
In simpler terms, it means you won’t have a grace period during which you won’t accrue interest if you don’t pay your full balance each month. To avoid interest charges, you must pay your bill on your due date, without exception.
The absence of an introductory APR can be a significant drawback for this card, mainly because of how cardholders might want to maximize its welcome offer. You can make the most of this card’s rewards potential during the first year with its enhanced cashback welcome offer by earning an additional 3 percent on in-store purchases, totaling 5 percent cash back. Having an introductory APR could have made it easier to leverage this welcome offer, especially if you plan to make substantial changes to maximize your in-store cashback rate for the first year.
The lack of an introductory APR not only means that you need to pay your balance in full every month starting from your first statement, but it also makes it challenging to make the most of this card’s unique welcome offer.
Perks: Limited Additional Benefits
The Walmart Rewards Mastercard does not come with extra perks or benefits that add value to your wallet. Apart from its impressive cashback rates for purchases at Walmart.com and a solid rate for in-store purchases, this card lacks any additional rewards or benefits. Many rewards and cashback cards offer competitive rates for your card spending, often complemented by extra perks that enhance their value.
Several issuers such as American Express, Citi, and Chase include substantial perks on their rewards cards. While these cards may not be the best choice for Walmart purchases, they offer various cashback and rewards rates, and their perks cater to different cardholder preferences.
If you’re a regular Walmart shopper, the Walmart Mastercard can be an excellent option. However, if Walmart isn’t your primary shopping destination, you might want to explore other cards, as they could offer benefits more aligned with your spending habits.
Usability: Earning Cash Back Comes with Restrictions
Store credit cards often come with limitations, offering the best rewards primarily for purchases within their specific retail networks. However, the Walmart Rewards Mastercard differs from this norm. It provides a higher rate of cash back for restaurant and travel expenses, but it’s not the easiest cashback card to utilize to its full potential.
One significant restriction is related to maximizing the card’s welcome offer. To earn 5 percent cash back for your in-store purchases during the first year, you’ll need to shop at Walmart in person and use Walmart Pay. While this can result in a substantial cash-back balance, meeting these requirements is more complex than a typical welcome offer. Additionally, you’ll have to spend a minimum of $4,000 in-store at Walmart using Walmart Pay to earn at least $200 in cash back. This is roughly equivalent to the cash value of welcome offers from many no-annual-fee cards, which usually have spending requirements ranging from $500 to $1,500.
The card does offer generous rewards for Walmart gas and in-store purchases, with a 2 percent cash back rate that matches popular cashback cards’ flat rates. This feature can make it an excellent choice for everyday expenses such as fuel and groceries. However, not all Walmart locations have a fully stocked grocery section or a gas station. So, if you live in an area without a well-equipped Walmart, you might miss out on some of the best benefits of this store-specific cashback card.
How the Capital One Walmart Rewards Mastercard Compares to Other Cash Back Cards
When compared to other cashback credit cards, the Capital One Walmart Rewards Card is a clear winner, but only if Walmart is your primary shopping destination. If you’re seeking more flexibility, there are other cashback credit cards that can reward you for purchases made at regular supermarkets.
Is the Capital One Walmart Rewards Card Worth It?
For many people, Walmart serves as more than just a retail store—it’s a one-stop shop for groceries, household items, automotive needs, and more. With over 5,300 Walmart stores, this card’s offer is highly appealing. The unlimited 5 percent cash back on Walmart.com purchases, including grocery pickup and delivery, is a fantastic perk for online shoppers at this retail giant.
However, if you prefer shopping at various stores or don’t have a Walmart nearby, especially one with an extensive grocery section, getting this card might not be the most worthwhile choice. Instead, consider adding a credit card to your wallet that offers rewards in broader categories matching your spending habits.
Please note that the information about the Chase Freedom Flex℠ and the Capital One Walmart Rewards Mastercard has been gathered independently. These card details have not been reviewed or approved by the card issuer.
How We Evaluated This Card
Our card rating process involves a unique scoring system that assesses various aspects of each card. We consider factors such as the card’s expected average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks, and more. These aspects are compared to those of other cards within the same category.
To provide a comprehensive evaluation, we assign a weight to each card feature based on its significance to individuals seeking a card in a specific category. These features are then ranked in comparison to similar features on other cards within the category. As a result of these assessments, each card receives an overall rating, ranging from 1 to 5 stars. A rating of 5 indicates the highest possible score, while a rating of 1 represents the lowest.
We thoroughly examined over 150 of the most popular rewards and cashback cards to determine their placement based on their overall value, costs, benefits, and more. The following are key factors that influenced the overall score of this card and, in turn, impacted our review.