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Capital One Walmart Rewards Mastercard Review

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Capital One Walmart Rewards Mastercard

Earn 5% Back in Walmart Stores For the First 12 Months When You Use Your Card With Walmart Pay

The Capital One Walmart Rewards Mastercard offers you some substantial ways to earn rewards. Whether you’re spending directly in a Walmart store, on Walmart.com, at a Walmart gas station or anywhere else, you’ll be earning rewards that you can redeem for travel, gift cards, a statement credit, or even cover a purchase on walmart.com.

During your first 12 months of card membership, you will receive 5% back for shopping in Walmart stores when you use Walmart Pay with your card. Earn 5% on Walmart.com, and on the Walmart app, including Grocery pickup and delivery purchases. Earn 2% back anytime you buy gas at a Walmart or Murphy USA station or shop in person at a Walmart store. And, on top of that, you will earn 2% on travel and restaurant purchases. Every other Capital One Walmart Rewards Mastercard transaction will receive 1% back.

The Capital One Walmart Rewards Mastercard never has an annual fee, and its annual percentage rates (APRs) are 17.99%, 23.24%, or 26.99% Variable, depending on your credit score and history. There’s no ability to do a balance transfer to this card, though, and Walmart currently has no plan in place to support that feature.

Smart Features

 

No annual fee - There is no annual fee associated with the Capital One Walmart Rewards Mastercard.

Get Walmart rewards back -  Introductory offer for the first 12 months- receive 5% back in Walmart stores when you use your card with Walmart Pay. Receive an unlimited 5% back in rewards on purchases you make through Walmart.com, the Walmart app, grocery pickup, and delivery. Receive 2% back in rewards on gas purchases you make with both Walmart and Murphy USA, 2% on purchases in-store at Walmart, 2% on Restaurant and Travel purchases and 1% back in rewards on all other buys.

  • Smart Tip: If you place an order on Walmart.com or on the Walmart app but pay for it in-store with your card, your purchase will earn the rewards at the level of an in-store purchase. You might end up short changing yourself on some rewards if you don’t pay for the purchase online.

Using your rewards - The Capital One Walmart Rewards Mastercard offers a few different options for rewards redemption. If you are shopping on Walmart.com, you can redeem your rewards during checkout to cover a purchase. You can also redeem rewards as a statement credit to lower your account balance. There are various gift cards from Walmart and other retailers you can choose to redeem your rewards for. Or, you can save your rewards for a trip and select your redemption for travel. There are different options like hotels, flights, and more to choose from.

Limitless rewards totals - Capital One doesn’t impose any sort of rewards cap on your purchases. Which means there are no limits to the amount of rewards you can earn.

Rewards don’t expire - As long as your account is open and good standing with Capital One, your earned rewards will never expire.

Capital One Mobile App - Manage your account anywhere, anytime. Pay your bill, check transactions, check your balance, and more.

Account Security - Capital One will send you security alerts if they notice any suspicious activity on your account. If your card is lost or stolen, you will not be responsible for any unauthorized charges. Plus, if you have lost or misplaced your card, or you think your card has been stolen, you can use Card Lock with just a few taps to help protect your account.

Who It Benefits

The Capital One Walmart Rewards Mastercard is clearly meant for prospective cardholders who are genuinely looking to make Walmart their top destination for most of their daily purchases, both online and in-store. Buying products that meet your regular needs and filling up on gas will earn you rewards.

If you’re someone who’s already into online shopping, or you’re looking to do it more often, the 5% rewards rate on Walmart.com purchases benefits makes this card an excellent option.

Compare Similar Rewards Offers

How It Works

Capital One Walmart Rewards Mastercard cardholders will receive 5% back in rewards for every purchase made in store for the first 12 months when using their card with Walmart Pay. Plus, receive an unlimited 5% back in rewards on purchases you make through Walmart.com, the Walmart app, grocery pickup, and delivery. Receive 2% back in rewards on gas purchases you make with both Walmart and Murphy USA, 2% on purchases in-store at Walmart, 2% on Restaurant and Travel purchases and 1% back in rewards on all other buys.

Any rewards you earn have no expiration date as long as your account is open and in good standing. Plus, there’s no limit to how many you can accrue. You can track your rewards 24/7 in your Capital One account online, all you need to do is log in to view.

 

Capital One offers a few different options for Walmart Mastercard reward redemption options. If you are shopping on Walmart.com, you can redeem your rewards during checkout to cover a purchase. You can also redeem rewards as a statement credit to lower your account balance. There are various gift cards from Walmart and other retailers you can choose to redeem your rewards for. Or, you can save your rewards for a trip and select your redemption for travel. There are different options like hotels, flights, and more to choose from.

Just the Math Please

Rewards

As a Capital One Walmart Rewards Mastercard cardholder, you’ll earn 5% back in rewards on purchases you make through Walmart.com, the Walmart app, grocery pickup and delivery. Earn 2% back in rewards on gas purchases you make with both Walmart and Murphy USA, 2% on purchases in-store at Walmart, 2% at Restaurants and on Travel Purchases, and 1% back in rewards on all other buys. These rewards can be used as a statement credit that applies to cover a portion of your  monthly bill. You can also cover a purchase during checkout at walmart.com, or you can redeem your rewards for travel or gift cards.

Rates and Fees

APR for Purchases and Quick Cash

17.99%, 23.24%, or 26.99% Variable based on your creditworthiness and other factors

APR for Balance Transfers

17.99%, 23.24%, or 26.99% Variable based on your creditworthiness and other factors

APR for Cash Advances

26.99% Variable

Penalty APR and When It Applies

N/A

How to Avoid Paying Interest on Purchases

Your due date will be a minimum of 25 days after the close of each billing cycle. Capital One will not charge you interest on purchases if you pay your entire balance by the due date each month. You will be charged interest on cash advances starting on the transaction date.

Annual Fee

$0

Balance Transfer Fee

3% if Capital One offers you a promotional APR. None, if your balance is transferred at the regular transfer APR.

Transaction Fees

  • Cash Advance: Either $10 or 3% of the amount of each cash advance, whichever is greater

  • Foreign Transaction: None

Penalty Fees

  • Late Payment: Up to $39

How It Stacks Up

There aren’t any Walmart-related credit cards on the market that direclty compete with the Capital One Walmart Rewards Mastercard, but we can compare it in a relative sense to the Target REDcard™ Credit Card that offers comsumers a similar proposition, just through a different retailer.

The Target REDcard™ Credit Card is discount-centric, as opposed to the rewards nature of the Capital One Walmart Rewards Mastercard. More specifically, you will receive a 5% discount off the majority of your in-store and online spending at Target, along with a 10% off coupon every year on your account anniversary.

Because rewards take time to build, while discounts are instant, some might be inclined to jump right at the Target REDcard™ Credit Card. The Target card includes a 24.40% variable APR, which is about middle of the road of the interest rate that you could receive with the Capital One Walmart Rewards Mastercard.

Of course, you might have an affinity for either Walmart or Target, and that could make your decision right there. But if you’re on the fence as to which retailer to commit to based on the credit card offers, you essentially have to decide between the rewards and discounts that the Capital One Walmart Rewards Mastercard and Target REDcard™ Credit Card specialize in, respectively.

Bottom Line

If you’re going to be shopping often with Walmart, both in-store and online, it makes complete sense to become a Capital One Walmart Rewards Mastercard cardholder. Earn 5% back in rewards on purchases you make through Walmart.com, the Walmart app, grocery pick up and delivery. Plus 2% back in rewards on gas purchases you make with both Walmart and Murphy USA, 2% on purchases direct in the Walmart store, 2% on travel and restaurant purchases, and 1% back in rewards on all other buys. This gives you plenty of opportunities to earn rewards. Plus, there are multiple options for rewards redemption. As with most retail credit cards, make sure you can afford the high-interest rates that come along with it before applying.

Next Steps

  • Finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with financial advisors in your area in 5 minutes. If you’re ready to be matched with local advisors that will help you achieve your financial goals, get started now.
  • Saving money is easier said than done, but having a high-yield savings account is a great start. To see what's available today, take a look at our overview of the top savings accounts.

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