The Capital One® Walmart Rewards™ Card is a popular choice for consumers looking to maximize rewards on their frequent Walmart purchases. This credit card offers a competitive cash-back rate of 5% for Walmart.com purchases and comes with the added advantage of no annual fee.
With a variable APR ranging from 17.99% to 27.74%, the card’s interest rates are comparable to those of other rewards-based credit cards. For the first year, cardholders can also enjoy a 5% cash-back rate on Walmart Pay purchases, making it an attractive option for those who shop frequently at Walmart stores and online.
As a credit card designed for Walmart shoppers, it’s essential to understand the benefits and limitations of the Capital One® Walmart Rewards™ Card before deciding if it’s the right choice for you. In this article, we will delve deeper into the features, benefits, and potential drawbacks of this popular retail-branded credit card.
Card Overview
The Capital One® Walmart Rewards® Card is a cash back credit card designed for frequent Walmart shoppers. This card offers competitive rewards rates for purchases made at Walmart.com, as well as other categories such as travel, dining, and more.
One of the most attractive features of this card is its rewards structure. Cardholders can earn:
- 5% cash back on Walmart.com purchases, including Walmart Grocery Pickup and Delivery
- 2% cash back on Walmart in-store purchases, restaurants, and travel
- 1% cash back on all other purchases
The card does not have an annual fee, making it more accessible for a range of budget-conscious consumers. However, its interest rates are variable and range from 17.99% to 27.74% APR.
Another noteworthy feature is the introductory offer: new cardholders can earn a 5% cash back rate on in-store Walmart purchases when using Walmart Pay for the first 12 months. This promotion encourages users to adopt mobile payment methods for a more streamlined shopping experience.
Redeeming rewards is flexible with the Capital One® Walmart Rewards® Card, as cardholders can use their accumulated points for statement credits, gift cards, or travel bookings through the Capital One Travel portal. This flexibility allows customers to choose the redemption option that best fits their needs and preferences.
Rewards and Benefits
The Capital One® Walmart Rewards™ Card offers several attractive rewards and benefits for cardholders who frequently shop at Walmart. One of the most appealing features of this card is the cashback program, which allows cardholders to earn up to 5% cashback on their purchases.
Here are the cashback rates for various purchase categories:
- 5% cashback on purchases at Walmart.com and through the retailer’s app, including online grocery orders.
- 2% cashback on Walmart in-store purchases, including fuel stations at Walmart and Murphy USA.
- 2% cashback on travel and dining purchases.
- 1% cashback on all other purchases made with the card.
As a World Elite Mastercard, the Capital One Walmart Rewards Card also provides additional perks and benefits:
- Price Protection: Get reimbursed for the price difference if you find a lower price on an eligible item within a specified time frame.
- Extended Warranty: Receive additional warranty protection on eligible purchases made with the card.
- Travel and Emergency Assistance Services: Access to 24/7 assistance for travel emergencies and other situations while traveling.
- Baggage Delay Insurance: Receive reimbursement for essential items in the case of a baggage delay while traveling.
All these rewards and benefits make the Capital One® Walmart Rewards™ Card a competitive option for consumers who frequently shop at Walmart and seek a versatile rewards card.
Rates and Fees
The Capital One® Walmart Rewards™ Card offers competitive rates and fees for a cash back rewards card, including no annual fee. This makes it an attractive option for those who frequently shop at Walmart and want to earn rewards on their purchases.
Cardholders can earn 5% cash back on Walmart.com purchases, including grocery pickup and delivery orders, and 2% cash back in Walmart stores after the first 12 months1. The introductory offer provides 5% cash back in Walmart stores for the first 12 months when you use Walmart Pay for purchases2.
Other rates include 2% cash back on restaurants and travel, and 1% cash back on all other purchases3.
The card comes with a variable APR, which may vary depending on the creditworthiness of the applicant. It’s important to keep in mind that carrying a balance on this card will incur interest charges, so it’s best to pay off the balance in full each month to avoid unnecessary costs.
There is no foreign transaction fee associated with the card, making it a good choice for customers who travel internationally and still want to take advantage of the Walmart Rewards4.
Below is a summary of the key rates and fees associated with the Capital One® Walmart Rewards™ Card:
- No annual fee5
- Variable APR based on creditworthiness6
- No foreign transaction fees7
- 5% cash back on Walmart.com purchases and grocery pickup and delivery8
- 2% cash back at Walmart stores after the first 12 months9
- 5% cash back in Walmart stores during the first 12 months with Walmart Pay10
- 2% cash back on restaurants and travel11
- 1% cash back on all other purchases12
1 – USA Today
2 – Forbes
3 – Wall Street Journal
4 – Bankrate
5 – CNBC
6 – Manifest Project
7 – Iveystore
8 – Credit Donkey
9 – Foodnavigator Asia
10 – Finance Guru
11 – Money Machine Apps
12 – Disorganized Monkey
Pros and Cons
The Capital One® Walmart Rewards™ Card offers a variety of benefits and advantages to cardholders. However, it also has some shortcomings that may be of concern to potential applicants. In this section, we will discuss the pros and cons of the card to help you determine if it’s the right choice for you.
Pros:
- Up to 5% cash back at Walmart.com
- No annual fee
- 2% cash back at restaurants and travel
- Multiple ways to redeem your rewards
- Generous sign-up bonus
- No foreign transaction fees
Cons:
- 5% cash back rate is limited to Walmart.com purchases
- Lower rewards rate for in-store purchases
- No special financing offers
- Fair credit required for approval, which might be a barrier for some applicants
It’s important to weigh these pros and cons carefully when considering whether the Capital One® Walmart Rewards™ Card is the right choice for you. Keep in mind your spending habits, financial goals, and preferences in order to make an informed decision.
How to Apply
To apply for the Capital One® Walmart Rewards™ Card, start by visiting the Capital One website. Here, you can review the card details, rewards structure, and eligibility requirements before submitting an application.
Before submitting your application, you can also check if you’re prequalified for the Capital One® Walmart Rewards® Card using the online prequalification tool. This process won’t impact your credit score and can give you an idea of your approval odds.
When you’re ready to apply, follow these steps:
- Go to the Capital One Walmart Rewards Card webpage.
- Click the “Apply Now” button to begin the application process.
- Fill out the required personal information, including your name, date of birth, Social Security number, address, and annual income.
- Review and agree to the card’s terms and conditions.
- Submit your application and wait for the decision. Most decisions are made within 60 seconds, although some may require additional information or time.
Once you’ve completed the application, be sure to keep track of your application status. You can typically expect a response from Capital One within 7 to 10 business days. If approved, your new card will be mailed to you, and you can start enjoying the benefits and rewards associated with the Capital One® Walmart Rewards® Card.
Comparison with Competing Cards
The Capital One® Walmart Rewards™ Card offers a competitive earning structure in terms of cashback rates. However, it’s essential to compare it with other similar cards in the market to understand its true value better. Let’s take a closer look at some of the rival cards and their features.
One alternative to consider is the Target REDcard. This card offers a flat 5% discount on purchases made at Target stores or on Target.com. Unlike the Capital One Walmart Rewards Card, the Target REDcard does not offer cashback rewards on categories outside of Target. Thus, the Walmart card provides more versatility in earning cashback.
Another competitor worth comparing is the Amazon Prime Rewards Visa Signature Card, which offers 5% cashback on Amazon.com and Whole Foods Market purchases for Prime members. This card also provides 2% cashback on restaurants, gas stations, and drugstore purchases, similar to the Capital One Walmart Rewards Card’s rate for travel, restaurants, and Walmart fuel stations. With both cards having similar cashback rates, your choice may largely depend on which retailer you prefer.
Finally, let’s take a look at the Chase Freedom Flex card. This card gives you 5% cashback on rotating categories (up to $1,500 in purchases per quarter) and travel purchased through Chase Ultimate Rewards. In addition, it offers 3% cashback on dining and drugstore expenses and 1% on everything else. Depending on your spending habits, the rotating categories might make the Chase Freedom Flex more appealing if they align with your frequent purchases.
In conclusion, the Capital One Walmart Rewards Card holds its own against competing cards in terms of cashback earning potential. Your personal spending habits and preferred retailers will ultimately determine which card is the best fit for you.
Conclusion
The Capital One® Walmart Rewards™ Card offers solid rewards for frequent Walmart shoppers, particularly those who make frequent online purchases at Walmart.com. With 5% cash back on Walmart.com purchases, including grocery pickup and delivery orders, this card is an attractive option for those seeking to maximize savings on their everyday shopping.
In addition to the online rewards, cardholders also receive 2% cash back at Walmart stores, fuel stations, restaurants, and on travel. While this may not be the highest rewards rate for in-store purchases, it still provides a decent return for regular Walmart customers.
Another advantage of the Capital One® Walmart Rewards™ Card is its lack of an annual fee, making it a cost-effective choice for many shoppers. On the other hand, the card’s main drawbacks include the limitation of rewards to Walmart-related purchases and potentially high interest rates for those who carry a balance.
In summary, the Capital One® Walmart Rewards™ Card is a strong option for loyal Walmart shoppers seeking to maximize their rewards. While it may not be the best choice for those seeking more flexible rewards programs, its generous cash back rates and no annual fee make it a competitive choice in the marketplace.