In This Review..
Capital One Walmart Credit Card is one of the credit cards on the market that is a store card that allows borrowers who do not have perfect credit to apply and be approved.
The Walmart Credit Card earns 5% cash back at Walmart.com and Walmart app. This includes orders made online and products picked up at local stores. Also, the card earns cash back on Walmart stores,restaurants & travel and gas. This must be at Walmart or Murphy USA gas stations.
The Walmart Credit Card also earns 1% on all spending at everywhere else where Mastercards accepted. Also, as part of an Introductory offer for new cardholders, you earn 5% cash back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval..
Rewards Plan
Sign up Bonus
0% Intro
PROS
- In-Store Financing
- No Annual Fee
CONS
- Limited Use
- There are Better Cashback Cards
APR
17.99% – 26.99%
Annual Fee
None
Balance Transfer Fee
3%
Credit Requirements
Good - Excellent
The card has no annual fee and the fact that average credit is also accepted, it can be good for those who want to build or rebuild their credit.
This credit card also gives cardholders in-store financing on occasion. These in-store financing offers are great for those who need to make large purchases and pay them off over time. While the card is limited in its scope, it does reward those who spend at Walmart.com and are loyal to the Walmart brand.
Card & Issuer Reputation
- 3.4/5 on WalletHub customer reviews (+700 reviews): WalletHub customer reviews allow customers to post positive, negative or neutral reviews about marketplace experiences.
- 4.6/5 on Official Card Website customers reviews ( +200 reviews): Customers can express their opinion on the official card website. It reflects the overall measurement of reviewer satisfaction, represented numerically from 1 to 5.
- 808/1000 on J.D Power: Capital One, the issuer of Walmart card, got 808 out of 1000 available points on J.D. Power credit card satisfaction survey, a bit lower than the industry average. J.D Power offers the most comprehensive and independent study of customer satisfaction of card issuers . The study aims to help consumers and issuers to understand user opinions and ratings of the largest bands. It covers terms, benefits, services, communication, rewards and more.
Benefits
Let’s take a look at the benefits of the Walmart card and see if it’s the right one for your wallet or not.
- 5% cash back at Walmart.com, 2% on gas, 1% on all other spending
The Capital one Walmart Credit Card earns 5% cash back at Walmart.com and Walmart app. This includes orders made online and products picked up at local stores. Also, the card earns cash back on Walmart stores,restaurants & travel and gas. This must be at Walmart or Murphy USA gas stations.
The Walmart Credit Card also earns 1% on all spending at everywhere else where Mastercards accepted.
- Sign Up Bonus
The Capital one Walmart Credit Card offers $50 credit when you spend $500 on your new card within the first 3 months. In addition, you'll get 5% cash back during the first year on Walmart store purchases.
- Free FICO Score
The Walmart Credit Card allows cardholders to view their credit score after signing up for online statements.
- Fraud Protection
Walmart Credit Card has $0 fraud liability protection on unauthorized transactions.
- No Annual Fee
You do not have to meet a spending threshold in order to offset any annual fee. You can start putting cash back in your pocket immediately.
- Cash on Every Statement
The Walmart Credit Card applies the reward amount you earned in the last billing cycle to your current balance.
You don’t have to worry about building up rewards or when to use them. They are used automatically.
- In-Store Financing
The Walmart Credit Card does not come with a 0% APR introductory rate like many cards in the market, but many times they do offer in-store financing.
This can be great if you are planning to make a large purchase like new tires for your car, and need to pay over time. This does not accrue interest over the term but will need to be paid off before the term ends to avoid interest
- 6 months $150 and up
- 12 months $299 and up
- 18 months $429 and up
- 24 months $599 and up
Drawbacks
Here are the most important cons you should consider before apply:
- Better Cashback Cards
There are other cashback cards in the market that offer higher cashback rewards and don’t have the restrictions of being used only at a store.
Some cards have rotating categories, but with a little planning and depending on your spending habits, you can earn more cash back on your purchases that way.
If you are a big spender and don’t mind an annual fee, there are other cards with higher cashback rewards, but not my much.
- High APR
The APR for the Walmart Credit Card is a 17.99% – 26.99% variable rate for all who are approved which is very high.
However, those with only ok credit histories can be approved.
- Limited Use
The Walmart Credit Card can only be used at Walmart and Murphy USA gas stations. This limits the amount of rewards that can be earned with this card.
- Foreign Transaction Fee
Walmart Credit Card has a Unknown fee for each transaction in another country. If you are traveling outside of the US you may want to leave this card at home.
Application Process
- 1.
Visit the Walmart Credit Card homepage and click “Apply Now.”
- 2.
This takes you to the next page, where you can fill in your “Personal Information” such as your Names, date of birth, etc.
- 3.
Next is your contact and financial information, and then go through the additional acknowledgments.
- 4.
Lastly, ensure you read through the important disclosure page to know your eligibility, fees, costs, rates, etc.
- 5.
Then click on “Continue” to complete the process.
Alternatives
There are other credit cards that do offer comparable cash back rewards – we’ve summarized the most popular cards which can use as an alternative to the Walmart Card:
- Sam’s Club Mastercard
Sam’s Club Mastercard is a competitive store card from Costco’s biggest competitor.
The Sam’s Club Mastercard is a great card for Sam’s Club shoppers. It has very competitive cashback rewards and benefits in some spending categories.
Sam’s Club Mastercard has cash back on gas purchases up to , and then after that. It also has cash back for any spending on restaurants and travel and % cash back on all other spendings with no limit. The rewards categories do not change and are great for those who spend a lot on gas and traveling and who are Sam’s Club members.
The card does not have a foreign transaction fee or annual fee as long as you are a Sam’s Club member (Membership starts at a year). This card can be used anywhere Mastercard is accepted, not just at Sam’s Club.
- Costco Anywhere Visa Card
Costco Anywhere Visa Card by Citi is a store credit card that offers many ways to earn cash back. This card can be used anywhere Visa is accepted, not just at Costco.
The Costco Anywhere Visa Card offers 4% on eligible gas, including gas at Costco for the first $7,000 per year and then 1% thereafter. You'll also earn 3% on restaurants and eligible travel, 2% on all other purchases from Costco and 1% on all other purchases.
The Costco Anywhere Visa Card does not have an annual fee as long as you are a Costco member (Costco membership starts at $60 a year).
If you are a big spender and don’t mind an annual fee, there are other cards with higher cashback rewards, but not my much. If you're a fan of Costco – it may be the best card for you.
- Wells Fargo Propel American Express Card
The Wells Fargo Propel card boasts a similarly easy and generous rewards program. Customers earn 3% rewards (or 3 points) for every dollar spent across most major purchase categories, including dining, entertainment, flights, hotels, car rentals, gas station purchases, and even media streaming like Hulu and Netflix.
The Wells Fargo Propel card doesn't have an annual fee it and comes with an 0% intro APR on purchases and balance transfers for 15 months. After that, your APR will be 14.49% – 24.99%, based on your creditworthiness
It also offers one of the most competitive sign-up bonuses out there: 20,000 bonus points (or $200 in cash back) when you spend $3,000 in the first three months.
Is the Walmart Credit Card Right for You?
The Walmart credit card is best for those who are loyal to Walmart and do quite a bit of their spending online at Walmart.com. The real benefit to this card is the online spending rewards and the potential in-store financing.
Many of the rewards offered by this card can be matched or exceeded without the restrictions of shopping at one store. The 1% back at Walmart stores is easily copied by many credit cards on the market today. This card is good for customers who may not have the best credit. It is easier to get if you have poor credit than other credit cards in the general market.
This card could be great for those looking to rebuild their credit and who are frequent Walmart shoppers. If you have good credit, there are a plethora of other cashback cards in the market that offer better rewards, sign-up bonuses, and perks than the Walmart credit card.
