With Walmart Credit Cards called Capital One® Walmart Rewards™ Card, you can earn unlimited rewards every day, for the things you buy everywhere.
There are two types of cards offered by Walmart, one is the Capital One® Walmart Rewards™ Card and the other is the Walmart Rewards Card.
A Summary of the Benefits
The benefit of the Capital One® Walmart Rewards Card is that it can be used for not only your Walmart purchases, but it can also be used anywhere else wherever Mastercard is accepted, and you get 1% back wherever else you use this card. Whereas the Walmart Rewards™ Card can only be used for Walmart purchases (Walmart.com, in the Walmart App(s), in stores, and at Walmart and Murphy USA Gas Stations).
The Capital One® Walmart Rewards™ Card offers many benefits, including: extended warranty protection, travel accident insurance, 24-hour travel assistance services, price protection and more.
The application for both these cards is the same. If approved, you will be eligible for the Capital One® Walmart Rewards™ Card.If you aren't approved for the Capital One® Walmart Rewards™ Card, you will be automatically approved for the Walmart Rewards™ Card.
Both these Walmart cards have no annual fee, but the interest rates and other fees differ. The Capital One® Walmart Rewards™ Card has a 17.99% to 26.99% variable APR, while the Walmart Rewards™ Card has a 26.99% variable APR.
Since the Capital One® Walmart Rewards™ Card can be used wherever Mastercard is accepted, you can use the card abroad without the need to pay a foreign transaction fee. This saves you the 3% fee many other cards charge for purchases made outside the U.S.
You can also use the card to complete a balance transfer. The balance transfer fee is 3% for promotional APR offers and there are no fees for balances transferred at the regular APR.
Rewards can be redeemed at any time and for any amount. Redemption options include travel, gift cards, cashing in points during online checkouts at Walmart.com and statement credits.
Here's what you can earn with both the Walmart Credit Cards:
- 5% back on purchases made at Walmart.com or in the Walmart mobile apps, including Grocery Pickup and Delivery.
- 2% back on purchases made at Walmart stores in the United States and Puerto Rico, and at Walmart and Murphy USA gas stations.
- Additional 3% back when you use Walmart Pay for purchases made at Walmart stores for the first 12 months from account opening, for a total of 5%.
- 2% back on the purchase of gift cards at Walmart (online, app, Walmart Pay or in stores).
- 1% back on in-store purchases at Sam's Club and Sam's Club gas stations.
If you are approved for the Capital One® Walmart Rewards™ Card, you will also earn:
- 2% back on restaurants and travel purchases
- 1% back on all other purchases
Also, your Capital One® Walmart Rewards™ Card comes with a $0 annual fee.
You can redeem rewards for
- Covering your purchase – Use your rewards when you checkout at Walmart.com.
- Statement Credit – Redeem rewards to lower your account balance.
- Gift Cards – Redeem rewards for gift cards from Walmart or from other retailers.
- Travel – Redeem rewards for flights, hotels and more.
The cardholder benefits include
- Security Alerts – You get notified via text, email, and phone if Capital One notices any potential suspicious activity on your account.
- Capital One Mobile App – Through which you can Manage your account anywhere and anytime. You can pay your bills, view your balance, check your transaction, and more.
- $0 Fraud Liability – If your card is lost or stolen, you will not be responsible for unauthorized charges.
- Card Lock– You can easily lock your card with a few taps if your card has been misplaced, lost or stolen.
How much you could earn with this card:
This depends on your monthly spending with your card.
Let's say you spend $500 a month each at the following:
$500 at Walmart.com (you earn 5% back, that is, $25),
$500 at Walmart stores (you earn 2% back, that is, $10),
$500 for Restaurants and travel (you earn 2% back, that is, $10),
and $500 for Other purchases (you earn 1% back, that is $5).
Here you earn or save a total of 25+10+10+5 = $50 a month.
Let's say you earn or save $50 each month. This amounts to $600 a year!
For every dollar, you earn 10 points. And in this example, you can earn 60000 points a year, which amounts to $600 in rewards value.
And as we mentioned above, you earn an additional 3% for the first 12 months of your purchases at Walmart stores when you use the card with the Walmart Pay app.
How are rewards earned :
Rewards are earned based on your net purchases you make through your Walmart Credit Card only, that is, your purchases made through this card minus any credits or returns. Reward percentages on purchases are earned and tracked as points, which can be monitored through your account at Walmart's Capital One portal (walmart.capitalone.com ) or in the Capital One mobile app.
For redeeming your rewards to book a flight, car rental or hotel, you can do so by logging in to your rewards account at walmart.capitalone.com or by calling the number on the back of your card at least 72 hours in advance of your travel date. The number of points required for your travel redemption varies and is based upon the cost of the travel purchase.
Here is how it works: Simply multiply the cost of your travel purchase by 100. For example, if your travel purchase costs $200, 200 multiplied by hundred gives you 20,000 points. So, you will need 20,000 points to redeem it. If your travel transaction includes taxes, surcharges, and fees, these expenses will be included in the overall calculation to determine how many points are required for redemption.
Here are some more things you need to know about this rewards program and how to redeem your rewards
- Capital One uses merchant category codes to determine whether your purchase is within a certain category in order to calculate rewards. These merchant category codes are determined by the merchants.
- Your rewards will never expire. You can redeem them as long as your account exists. You lose your rewards only when you close your account.
- There is no cap to the amount of rewards you can earn on purchases. That is, you can earn unlimited rewards.
- To redeem your rewards during an online purchase, you have to pay for the entire purchase. When you specify a number of points to be used toward your purchase, those points will be deducted from your available rewards balance, and the amount you specify will be automatically credited to your account within 2-3 business days.
- To redeem rewards for previous purchases, you simply have to make purchases using your rewards card, and then login to your account at walmart.capitalone.com or open your Capital One mobile app to redeem your points and receive an account credit for the cost of your purchase. Remember that such redemptions must be made within 90 days from the date your purchase posts to your account. Your account credit is usually applied to your balance within 2 to 3 business days after the redemption. Redemptions for a portion of a purchase amount (partial redemptions) are also available.
- And as mentioned before, you can redeem your rewards for account credit, gift cards and more. If you are approved for the Capital One Walmart Rewards Mastercard, you can also redeem your rewards for travel. On registering at walmart.capitalone.com, you can see a complete description of all current redemption offers for you.
Interest Rates and Interest Charges for Capital One Walmart Rewards Mastercard
- Annual Percentage Rate (APR) for Purchases and Quick Cash is 17.99%, 23.24% or 26.99%, based on your creditworthiness.This APR will vary with the market based on the Prime Rate. (For Walmart Rewards card, this APR is26.99%, and will vary with the market based on the Prime Rate.)
- APR for Transfers is 17.99%, 23.24% or 26.99%, based on your creditworthiness.This APR will vary with the market based on the Prime Rate.
- APR for Cash Advances is 26.99%.This APR will vary with the market based on the Prime Rate.
- For Paying Interest, Your due date is at least 25 days after the close of each billing cycle. You will not be charged interest on new purchases, provided you have paid your previous balance in full by the due date each month. The charging interest on cash advances and transfers will begin on the transaction date.
Fees Charged for Capital One Walmart Rewards Mastercard
- The Annual Transaction Fees for Transfer is 3% of the amount of each transferred balance that posts to your account at a promotional APR that you may be offered.
- For cash Advance, There are no charges for balances transferred at the Transfer APR. And either $10 or 3% of the amount of each cash advance, whichever is greater.
- For Late Payments, a Penalty Fee of Up to $39 can be charged. (This fee also applies to the Walmart Rewards Card).
Here's some things you need to know while applying for a Walmart Capital One Rewards Mastercard
- What to put for Total Annual Income?
You may include personal income, which is income you have earned, including full-time, part-time, or seasonal jobs, self-employment, interest or dividends, retirement, and public assistance. You may also include shared income, which is money from somebody else that is regularly deposited into your individual account or into a joint account that person shares with you. If you are 21 or over, you may also include somebody else's income that is regularly used to pay your expenses.
- If you have a Capital One® Walmart Rewards™ Card and you transfer a balance at the Transfer APR, that Transfer will not incur a Transfer Fee. Any transferred balance that posts to your account at a promotional APR that we may offer you will incur a 3% Transfer Fee.
- A late payment won't cause your APR to increase. However, your APRs may increase depending on the market conditions.
- Your variable rates may change when the Prime Rate changes. Variable rates is calculated by adding a percentage to the Prime Rate published in The Wall Street Journal on the 25th day of December, March, June and September. If the Journal is not published on that day, then see the immediately preceding edition. Variable rates on the following segment(s) will be updated quarterly and will take effect on the first day of your January, April, July and October billing periods: Capital One Walmart Rewards Card: Purchase, Quick Cash and Transfer APR: Prime plus 13.24%, 18.49% or 22.24%; Cash Advance APR: Prime plus 22.24%. Walmart Rewards Card: Purchase and Quick Cash APR: Prime plus 22.24%. Any increase in the Prime Rate may increase your Interest Charges and your Minimum Payment.
- Your credit history and application will be reviewed to determine whether you qualify for the Capital One® Walmart Rewards™ Card. If you are not approved for that, you will automatically be considered for the Walmart Rewards™ Card. The Walmart Rewards™ Card can only be used at Walmart stores in the United States, at walmart.com and on the Walmart app, at Walmart-branded gas stations, at Murphy USA gas stations, at Sam's Club-branded gas stations, and for in-store purchases at Sam's Club. It cannot be used for online purchases at samsclub.com, for purchases on the Sam's Club app or purchases from in-store vendors.
- Your credit line will be determined after a review of your application and your ability to pay. The minimum credit line you will receive is $300 for either card.
- For Capital One® Walmart Rewards™ Card: The daily periodic rate for your Purchase, Quick Cash and Transfer APR is 0.04929%, 0.06367% or 0.07395%, and Cash Advance APR is 0.07395%. For Walmart Rewards Card: The daily periodic rate for your Purchase and Quick Cash APR is 0.07395%.
- If your balance is less than $28, your minimum payment will be equal to your balance. Otherwise, your minimum payment will be the greater of $28 or 1% of your balance plus new interest and late payment fees. Any past due amount will be added to your minimum payment. If your Account charges off, the entire balance is due immediately.
- If you have a Capital One Walmart Rewards Mastercard, you may request a transfer 10 days after your account is opened, on Capital One's discretion. Transfers between Capital One accounts are not permitted. That is, balances cannot be transferred to your account from any other credit card issued by Capital One.
- To obtain quick cash:You may obtain Quick Cash in $20 increments, up to any limit which may be set, at the time a purchase transaction is made using your Card at participating Walmart-owned registers. Quick Cash is not available in connection with purchase transactions made using Walmart Pay. Quick Cash transactions will be treated as part of the purchase segment of your account for the purpose of calculating interest.
- To avoid paying interest charges: If you pay your statement's "New Balance" in full by the due date each month, you will not be charged interest on any new transactions that post to the purchase balance. If you have been paying your account in full without interest charges, but fail to pay your next "New Balance" in full, interest will be charged on the unpaid balance. For cash advances and transfers, interest will start charging on the transaction date. Look for any offers that allow you to pay less than the total balance and avoid interest charges to new transactions that post to your purchase balance.