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Walmart Credit Card Review

Walmart Credit Card Review

*Editorial Note: This content is not provided or commissioned by the credit card issuer. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

This article was last updated Aug 08, 2018, but some terms and conditions may have changed or are no longer available. For the most accurate and up to date information please consult the terms and conditions found on the issuer website.

Who the card is best for

Frequent Walmart shoppers may see benefits from one of the retail giant’s credit cards — the Walmart Credit Card, which can only be used in stores and at Walmart.com, Sam’s Club® and Murphy USA gas stations, or the Walmart Mastercard that can be used anywhere Mastercard is accepted.

But if you mainly shop in-store or are looking for a versatile card that can be used anywhere, you’re better off with a traditional, non-store branded cashback card. Typically, the rewards rate you can earn on in-store Walmart and other everyday purchases is higher than the 1% offered by either Walmart-branded card, and you typically receive more benefits, including special financing offers without deferred interest and extended warranty protection..com

The card that’s best for you depends on whether you want to use your card for everyday purchases.

Special financing offers*

The credit card agreements for the Walmart Credit Card and Walmart Mastercard state that there may be special financing offers available. Inquire when you make a purchase to see if these offers are active:

  • No interest for 6, 12, 18 or 24 months. After, a 24.65% variable APR applies for the Walmart Credit Card and an 18.65% - 24.65% variable APR applies for the Walmart Mastercard.

Watch out for deferred interest

Many store cards charge deferred interest — which means that if you take advantage of a special financing option and don’t pay off your balance in full before the promotional interest-free period ends, you will incur all the interest you would’ve been charged during the interest period.

Here are the deferred interest terms for the Walmart Credit Card and the Walmart Mastercard:

“When you make a qualifying purchase under one of these promotions, no interest will be assessed on the purchase if you pay the following (the “promotional balance”) in full within the applicable promotional period: (1) the promotional purchase amount, and (2) any related optional credit insurance/debt cancellation charges. If you do not, interest will be assessed on the promotional balance from the date of the purchase.”

To avoid deferred interest charges, make sure you pay your entire balance in full before the promotional interest-free period ends. Continuing to carry a balance post-special financing period defeats its purpose and may cause you to fall into debt, since the interest rate is high at 24.65% variable APR for the Walmart Credit Card and from 18.65% - 24.65% variable APR for the Walmart Mastercard.

Rewards breakdown

Walmart markets its rewards program for both the Walmart Credit Card and Walmart Mastercard as a “3-2-1 Save Cash Back Rewards.” That’s a tiered rewards program where you earn 3% cash back on Walmart.com and grocery pickup, 2% on Murphy USA and Walmart gas, and 1% at Walmart and anywhere your card is accepted.*

*Note: the Walmart Credit Card is a store card — it cannot be used outside of eligible Walmart and Walmart-owned stores.

Each month, your rewards are automatically issued as a statement credit.

The rewards program is decent if you mainly spend money at Walmart.com; however, if you prefer to shop in-store, the 1% cash back for Walmart purchases is subpar. You can do better with flat-rate rewards or cashback cards, which we detail in the next section.

Alternatives

With rewards or cashback cards, at least 2 points or 2% cash back per dollar spent is standard. The Walmart-branded cards don’t offer a flat-rate on all purchases, and predominately benefit Walmart.com shoppers (and Walmart grocery pickup consumers, if that’s your thing). If you want to earn a good cashback rate for all your purchases, check out some of the alternatives below.

Flat-rate cashback card: Citi® Double Cash Card – 18 month BT offer

  • Earn 2% cash back on purchases 1% when you buy and 1% as you make payments for those purchases

  • 0% for 18 months on Balance Transfers*

  • 15.74% - 25.74%* (Variable)

Highlights
  • Earn 2% cash back on purchases 1% when you buy and 1% as you make payments for those purchases
  • To earn cash back, pay at least the minimum due on time
  • 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
  • No categories to track, no caps on cash back, no annual fee*

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

More Info

The Citi® Double Cash Card – 18 month BT offer is a $0* annual fee card offering cardholders the ability to earn 2% cash back on purchases 1% when you buy and 1% as you make payments for those purchases. The cashback program applies to all purchases, so you earn the same rate whether you shop at Walmart, Target or Whole Foods. This card also comes with Citi® Private Pass® where you can receive exclusive access to a variety of entertainment events like concerts, dining experiences and sporting events.

Flat-rate travel card: Capital One® Venture® Rewards Credit Card

  • One-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel

  • 2 Miles per dollar on every purchase, every day

  • Earn unlimited 10x miles on hotels when you pay with your Venture card at hotels.com/venture

Highlights
  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn 2X miles on every purchase, every day. Plus earn 10X miles on thousands of hotels, through January 2020; learn more at hotels.com/venture
  • Named 'The Best Travel Card' by CNBC, 2018
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✓®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 12 leading travel loyalty programs
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • No foreign transaction fees
  • $0 intro annual fee for the first year; $95 after that

See additional details for Capital One® Venture® Rewards Credit Card

More Info

The Capital One® Venture® Rewards Credit Card is a travel card that offers 2 miles per dollar on every purchase, every day. This is a good flat-rate, but keep in mind there’s an annual fee — $0 intro for first year; $95 after that. Cardholders can benefit from not having to pay foreign transaction fees, up to $100 application fee credit for Global Entry or TSA Pre✓®, and the ability to travel without blackout dates, among other perks.

Card if you don’t frequent Walmart: Target REDcard Credit Card

Maybe you’re not a big fan of Walmart, or you shop at other big box stores like Target. If that’s the case, the Target REDcard Credit Card can come in handy. It has a $0 annual fee and a better rewards program than the Walmart-branded credit cards — you receive a 5% discount on Target and Target.com purchases (there are some exclusions). So, instead of receiving a statement credit at the end of the month, your discount is automatically deducted at the point-of-purchase. You can also benefit from exclusive cardmember-only presales — recently, cardholders got early access to select items from the Hunter for Target collection.

Bottom line

If you’re an avid Walmart.com shopper and fan of Walmart’s grocery pickup, one of Walmart’s branded credit cards can benefit you. But, if you prefer to shop at brick-and-mortar Walmart stores, you could do better with other rewards or cashback cards that offer higher rewards rates.

*Terms and conditions apply. This offer and/or promotion has since changed, expired, or is no longer available.


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