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Capital One Walmart Rewards Mastercard and Walmart Rewards Card Review

Capital One Walmart Rewards Mastercard and Walmart Rewards Card Review

*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Sep 25, 2019. Terms and conditions may have changed. For the most accurate information, please consult the issuer website.

The information related to the Walmart Credit Card and Walmart Rewards Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Capital One® and Walmart announced a partnership on Sept. 18, 2019, with the Capital One Walmart Rewards Credit Card Program. This includes two new credit cards — a co-branded card and a private label card, both of which offer generous rewards.

On Oct. 11, cardholders with the existing Walmart Credit Card will have their accounts transferred from Synchrony Bank to Capital One with no need to reapply. Starting Oct. 14, you’ll be able to enroll with Capital One to manage your account and pay your bill online at walmart.capitalone.com. (Be aware that if you’re used to paying your card at Sam’s Club locations, that won’t be an option once your account has transferred to Capital One.) For more details about the new cards, read on.

In this article:

Where the Capital One® Walmart Rewards™ Card and Walmart Rewards Card stand out

Capital One® Walmart Rewards™ Card

Cash back. 5% back at Walmart.com & Walmart app, Grocery Pickup and Delivery, 2% at Walmart stores, Walmart & Murphy USA Fuel Stations, Restaurants & travel, 1% Everywhere else Mastercard® is accepted. If you shop at Walmart.com and use Walmart Grocery Pickup and Delivery frequently, this is a chance to earn a great cashback rate.

The rate on restaurants and travel is decent. While you can earn more in those categories with a cashback card dedicated to dining (such as the Capital One® Savor® Cash Rewards Credit Card) or with a specialized travel card, it’s nice to know the Capital One® Walmart Rewards™ Card is putting a little extra back into your wallet even when you’re not shopping at Walmart.

Sign-up bonus. Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart. If you like using Walmart Pay at checkout, and do a lot of your shopping that way the first year you have this card, you could earn a nice chunk of cash back.

  • 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.

  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening

  • No minimums for redeeming and cash back won't expire for the life of the account

Highlights
  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
  • Receive a monthly statement credit for a Postmates Unlimited monthly membership through Dec. 2019 with the Capital One Savor Card
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
  • No foreign transaction fees
  • Capital One cardholders get access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that

See additional details for Capital One® Savor® Cash Rewards Credit Card

More Info

Walmart Rewards Card

Cash back. 5% back on purchases made at Walmart.com and on the Walmart app, 2% back on Walmart purchases in stores outside of the introductory offer; and 2% back at Walmart Fuel Stations. You’ll notice that this card, like the Capital One® Walmart Rewards™ Card, comes with a great rewards rate on your Walmart.com and Walmart app shopping. Its limitation, of course, is that it’s a store card. You can’t use it for purchases outside the Walmart ecosystem.

Sign-up bonus. 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval.

Additional benefits

Capital One and Walmart are promoting this as a digital-first credit card program. In addition to being able to apply for the card on Walmart.com, the Walmart app, or CapitalOne.com, you can also apply via text message. If approved, you can use your card with Walmart Pay before the physical card ever arrives.

“We are excited to offer a truly digital experience for customers where, for example, Walmart shoppers can apply for the card in-store via the Text to Apply feature, and if approved and eligible, use their new card digitally at checkout moments later,” Ritin Dhawan, vice president of customer experience and partner operations at Capital One, said in a press release.

In some ways, this is reminiscent of the Apple Card, which you must apply through the Wallet app — and that can be used with Apple Pay before the physical card arrives. Even though the Walmart cards and the Apple Card may be aimed at somewhat different user bases, both seem to be looking to integrate with the digital world in innovative ways.

The information related to the Apple Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

Where the Capital One® Walmart Rewards™ Card and Walmart Rewards Card fall short

Capital One® Walmart Rewards™ Card

While this card offers a generous rewards rate on purchases at Walmart.com, the rate for in-store purchases leaves something to be desired. After the introductory offer expires, you’ll only earn 2% on Walmart purchases in stores, but earn the higher rate for Walmart.com. There’s no need to go with a Walmart-specific card to get 2% cashback — the excellent Citi® Double Cash Card – 18 month BT offer lets you earn 2% cash back on purchases: 1% when you buy plus 1% as you pay..

  • Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

  • 0% for 18 months on Balance Transfers

  • 15.74%– 25.74% (Variable)

Highlights
  • Earn cash back twice. Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.74%– 25.74% based on your creditworthiness.
  • Balance Transfers do not earn cash back.
  • The standard variable APR for Citi Flex Plan is 15.74%– 25.74% based on your creditworthiness. Citi Flex Plan offers are made available at Citi's discretion.

See additional details for Citi® Double Cash Card – 18 month BT offer

More Info

Walmart Rewards Card

The same critique of the Capital One® Walmart Rewards™ Card — the lackluster rate on in-store purchases after the introductory offer expires — applies to the Walmart Rewards Card. (But note you’ll still get the higher 5% rate for Walmart.com purchases.) Plus, it’s a store card, meaning that it will be of limited use to you if you frequently shop outside of Walmart and Walmart.com.

Compare them with the Amazon Prime Rewards Visa Signature Card

Walmart has a wide range of products and has been a household name for a long time. But a competitor of similar stature is Amazon, and if you’re looking to earn great rewards on your Amazon shopping, a card to consider is the Amazon Prime Rewards Visa Signature Card.

Capital One® Walmart Rewards™ Card Walmart Rewards Card Amazon Prime Rewards Visa Signature Card
Annual fee $0 $0 $0
Regular purchase APR 17.99% - 26.99% variable 26.99% variable 15.99% - 23.99% variable
Rewards 5% back at Walmart.com & Walmart app, Grocery Pickup and Delivery, 2% at Walmart stores, Walmart & Murphy USA Fuel Stations, Restaurants & travel, 1% Everywhere else Mastercard® is accepted 5% back on purchases made at Walmart.com and on the Walmart app, 2% back on Walmart purchases in stores outside of the introductory offer; and 2% back at Walmart Fuel Stations. 5% back at Amazon.com and Whole Foods Market, 2% back at restaurants, gas stations and drugstores, 1% back on all other purchases
Sign-up bonus Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart. 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval. $10 Amazon.com gift card upon approval
Foreign transaction fee See terms N/A None

The Amazon Prime Rewards Visa Signature Card also comes with perks such as lost luggage reimbursement, baggage delay insurance and travel and emergency assistance. And the card gives access to exclusive Prime cardmember offers — which can help you earn an extra 5% to 20% back in rewards.

Read: Amazon Credit Card Reviews

It should be noted that you must be an Amazon Prime member to apply for the Amazon Prime Rewards Visa Signature Card. Prime memberships currently cost $119 annually, or $59 a year for college students. (There are also monthly subscriptions available, but those cost more over the course of a year than paying for an annual membership.) You’ll need to spend $2,380 on purchases eligible for the 5% rate to recoup $119 membership fee, or $1,180 to recoup the lesser $59 fee for students.

By contrast, neither of the Walmart cards have a membership requirement, so you’re earning net cash back from the very first purchase you make.

The information related to the Amazon Prime Rewards Visa Signature Card has been collected by CompareCards and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.

The bottom line

If you do a lot of your shopping on Walmart.com and in the Walmart app, the Capital One® Walmart Rewards™ Card and the Walmart Rewards Card are well worth considering. They both offer an excellent cashback rate for your online Walmart shopping — and the fact that grocery pickup and delivery are included is a nice touch. However, be aware that once the introductory offer expires, in-store purchases will be reduced to 2%. So you’re better off using the website or app to get the higher cashback rate.

The Capital One® Walmart Rewards™ Card is the better card of the two. It can be used anywhere Mastercard is accepted, whereas the Walmart Rewards Card can only be used in the Walmart ecosystem. However, as far as store cards go, the Walmart Rewards Card is very competitive.

If you’re not entirely sure a Walmart credit card is what you need, and you have an Amazon Prime membership, it’s worth looking at the Amazon Prime Rewards Visa Signature Card. The card offers a great cashback rate, access to exclusive offers and travel perks.

At the end of the day, you should review your spending habits before applying for a card. Walmart.com and Amazon.com are two giants of online retail — you can’t go wrong with a card from either one if you’re going to use it regularly. And if you go with a Walmart card, Walmart and Capital One have made the application process as easy as sending a text message.


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