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Capital One Walmart Rewards Mastercard review Best no annual fee grocery rewards card

Written by Editor Most recently before joining Bankrate.com, Robert worked as an editor and writer at The Ascent by The Motley Fool, covering a number of personal finance topics, including credit Nov. 1, 2022 Edited by Credit Cards Editor Nouri Zarrugh is a writer and editor for CreditCards.com and Bankrate, focusing on product news, guides and reviews. His areas of expertise include credit card strategy, rewards Reviewed by Editor Mariah Ackary is a personal finance editor who joined the Bankrate team in 2019, excited by the opportunity to help people make good financial decisions. Send your questions to Nov. 1, 2022

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Snapshot

4.0 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon and Walmart stores, the Capital One Walmart Rewards® Mastercard® could be one of the . Boasting , it offers an impressive 5 percent cash back on Walmart.com purchases, including grocery pickup and delivery orders. The card also earns 2 percent cash back for in-store purchases, which is double the amount offered by other cash back credit cards. And since this is an , you can begin racking up high rewards with the big-box retailer within minutes of approval. As long as you take advantage of the card's high-earning potential and pay your balances in full and on time, the Walmart Rewards Mastercard is a solid pick. But if you prefer to shop elsewhere, a flexible that earns bonus cash back at a variety of stores will provide greater value.

What are the pros and cons

Pros

No annual fee Multiple ways to redeem your rewards Great rewards rate for Walmart.com purchases, grocery pickup and delivery Card available to use instantly upon approval in Walmart app No penalty APR

Cons

Must use Walmart Pay to get 5 percent back in-store in your first year Relatively high APR Limited perks Ongoing rewards rate for in-store Walmart purchases is just 2 percent back not currently available for the Walmart card

A deeper look into the current card offer

Quick highlights

Rewards rate: 5 percent cash back at Walmart.com, including pickup & delivery; 2 percent cash back in Walmart stores & fuel stations, at restaurants and on travel; 1 percent cash back everywhere else Mastercard is accepted Welcome offer: Earn 5 percent cash back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay Annual fee: $0 Regular APR: 17.99 percent or 27.74 percent (variable)

Current sign-up bonus

Instead of a flat cash back bonus, the Walmart Rewards Card currently offers an elevated in your first year: You can earn 5 percent cash back in Walmart stores for the first 12 months when you use your card with . That's 3 percent higher than the regular rewards rate you'd get when shopping in-store at Walmart. To get access to the extra cash back, you'll need to sign up for Walmart Pay, the store's digital wallet, and use it exclusively at checkout. If you were to use the card at Walmart without the Walmart Pay app, you'd only earn 2 percent back. If you do the majority of your shopping at Walmart across categories including groceries, clothes and car maintenance, you could earn a significant amount of cash back in the first year. Based on average household spending estimates from the , using the Walmart Rewards Card with Walmart Pay for these purchases in your first year could earn you close to $400 in cash back.

Rewards rate

The Capital One Walmart Rewards Card offers good everyday value for loyal shoppers. All the points you earn, even the 1 percent cash back on all other eligible purchases made outside of Walmart can be used to effectively write off future purchases.

How you earn

Cardholders earn an unlimited 5 percent cash back at Walmart.com, including grocery orders made for in-store pickup or local delivery. This is especially useful since Walmart typically doesn't count as a grocery store, according to most credit card . The unlimited 5 percent rate for a card that charges no annual fee is impressive, especially since it almost rivals that of top U.S. supermarket rewards cards. This includes the , which offers a slightly higher rate of 6 percent but carries an ongoing annual fee of $95 ($0 intro annual fee for the first year) and a spending cap of $6,000 per year on grocery purchases. On purchases made at Walmart stores, you'll earn an ongoing regular rewards rate of 2 percent cash back, whether or not you use Walmart Pay. Combined with Walmart's everyday low prices, this is still a good deal, considering most other rewards credit cards only offer 1 percent cash back for shopping at superstores like Walmart and Target. On top of the grocery rewards, you also earn 2 percent cash back at restaurants, on travel and for purchases made at Walmart and Murphy USA gas stations. Everywhere else are accepted, including at Sam's Club stores and all other gas stations, you'll earn 1 percent cash back. These are nice add-ons that help give the Walmart Rewards card more value, but you'll definitely want to look at different options if you spend a lot in the following areas:

How to redeem

There are multiple ways to , but the most common way to use your Walmart rewards is as a to cover purchases made with the card. While rewards can only be applied to purchases made in the last 90 days, partial redemptions are an option. After selecting the purchase and the amount of cash back you want to redeem, the charges will disappear in two to three business days. You can also request a check for your cash back balance or redeem for gift cards at Walmart or other retailers. Rewards can also be used for travel reservations, including flights. The number of points will vary based on the requested trip, and reservations must be booked 72 hours in advance.

Other cardholder perks

The Capital One Walmart Rewards Card is a fairly straightforward cash back credit card. The biggest advantages to carrying the card are convenience and value. You can earn high rewards from the comfort of your home, ordering groceries and anything else that Walmart is known to carry, and then picking them up curbside at your store or having them delivered to you. Some stores charge more for the privilege of online ordering, adding on pickup fees or adding a markup percentage to items to cover the cost of shopping for you or delivering to you. But Walmart states its online prices are the same as what you'll find in the store. So you won't have to spend more or lose any of your rewards to additional fees. Other than that, the Walmart Rewards card has a small handful of standard features like zero fraud liability but lacks many of the standout, cost-saving perks typically found with , like extended warranty, purchase protection and rental car insurance. Here's a look at the top features that come with the Walmart Rewards card.

Instant use

Once you're approved for the Walmart credit card, you won't have to wait a week or longer for your card to arrive in the mail before you can start earning rewards. This is an instant-use credit card, so you'll get an via the Walmart app that can be used immediately.

No penalty APR

If you've ever made a late payment and gotten stuck with a , you know how difficult it can be to pay off your credit cards while dealing with increased interest rates. With the Walmart Rewards card, a late payment won't cause your interest rate to go up. According to the terms and conditions, your purchase APR will only change if the market conditions change. If you tend to carry a credit card balance, this is a useful feature that can give you some peace of mind that you won't have to give up even more of your money to higher interest rates if you are late with your payments.

Card lock for missing or stolen cards

Should your card get lost or stolen, you won't need to call Capital One for help. Through their smartphone app, you can lock missing cards immediately, and even request a new one.

How much are rewards worth

Whether you use your rewards for cash back, a check, gift cards or travel, points are worth one cent apiece. When covering purchases and requesting a check, you can choose how many points you want to redeem for cash back. For gift cards and travel rewards, you must have enough points to cover the full redemption cost.

Rates and fees

The Capital One Walmart Rewards Card is designed for consumers with or (a FICO credit score of 580 to 740). Account holders will be charged a variable APR rate of 17.99 percent or 27.74 percent on new purchases and balance transfers, based on creditworthiness. This is similar to the APR found with most Capital One credit cards open to people with fair-to-good credit. But even the low end of this range is higher than the current . For balance transfer fee: $0 at the transfer APR. However, if you decide to make a balance transfer during a promotional offer (none currently available), you may be charged a fee of 3 percent of the balance transfer. All cash advances are charged a variable APR rate of 27.74 percent, along with a fee of 3 percent of the advance or $10, whichever is greater. Although your interest rate won't go up if you make a late payment on the Capital One Walmart Rewards Card, you will be charged a late fee. The penalty for missing the due date is up to $39. On the plus side, the card charges no annual fee and no foreign transaction fee, so as long as you pay off your balance on time and in full each month, it should cost you nothing to hold this card.

How the Capital One Walmart Rewards Card compares to other cash back cards

Compared to other , the Capital One Walmart Rewards Card is the clear winner, but only if Walmart is your go-to place to shop. If you're looking for more versatility, here are two other cash back credit cards that will reward you for purchases made at traditional supermarkets.

Capital One Walmart Rewards® Mastercard®

star icon star icon star icon star icon star icon star icon star icon star icon star icon star icon Bankrate Score Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. Annual fee Intro offer Introductory offer: Earn 5% cash back on purchases in Walmart stores for the first 12 months when you use your card with Walmart Pay Rewards rate Earn 5% cash back on Walmart.com purchases, including pickup and delivery Earn 2% cash back on purchases in Walmart stores, Murphy USA and Walmart fuel stations 2% cash back on restaurants and travel purchases 1% cash back on all other purchases everywhere else Mastercard is accepted Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Blue Cash Preferred® Card from American Express

on American Express's secure site Annual fee Intro offer Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Rewards rate 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more. 3% Cash Back at U.S. gas stations 1% Cash Back on other purchases Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Citi Custom Cash℠ Card

on Citi's secure site Annual fee Intro offer Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou Points, which can be redeemed for $200 cash back. Rewards rate Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Earn unlimited 1% cash back on all other purchases. Recommended credit A FICO score/credit score is used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any financial product.

Capital One Walmart Rewards Mastercard vs Blue Cash Preferred® Card from American Express

The Blue Cash Preferred card offers a whopping 6 percent cash back on up to $6,000 in purchases made at U.S. supermarkets. It excludes superstores like Walmart and warehouse stores like BJ's or Sam's Club but is still more versatile than the Walmart Rewards card since it gives you greater flexibility to choose where you shop for groceries. The card also gives you plenty of chances to earn cash back in popular household categories like gas, transit and select streaming services. The Blue Cash Preferred does carry an annual fee of $95 ($0 intro annual fee for the first year). But even if you're shopping at a store that doesn't have the lowest prices, such a high rate of cash back from your Amex card could go a long way to matching the deals and discounts you'd find shopping at Walmart. And if you add in a to help you find the best grocery deals, the Blue Cash Preferred could easily offset its annual fee and outdistance the money you'd save shopping at Walmart.

Capital One Walmart Rewards Mastercard vs. Citi Custom Cash℠ Card

If you want a versatile card that earns grocery rewards at a number of different places but aren't interested in paying an annual fee, the is a great choice. This easy-to-use rewards card earns 5 percent cash back on your highest eligible spending category (up to $500 each billing cycle), which includes options like gas or groceries. So you can set this card up as your go-to grocery card and use it when shopping at your favorite supermarkets. This is a great fit for smaller households that won't have any problem staying under the monthly spending cap.

Best cards to pair with this card

If you value cash back above all other rewards, it makes sense to pair the Capital One Walmart Rewards Card with a or another cash back card that offers rewards in different bonus categories. For example, the also comes with no annual fee while offering rewards for spending in a wide variety of rotating categories throughout the year. To cover general purchases that don't fall into the Walmart card's bonus categories, the would be a great option thanks to its flat cash back rate of up to 2 percent back on every purchase you make (1 percent when you buy, 1 percent when you pay off your purchase).

Bankrate s Take-Is the Capital One Walmart Rewards Card worth it

For many, Walmart is more than a retailer-it's the primary hub for groceries, home goods, auto care and more. There are over 5,300 Walmart stores in the U.S., which makes this card offer very appealing. With unlimited 5 percent cash back on purchases at Walmart.com, which includes grocery pickup and delivery, there's a lot of upside for those who do all their shopping at the superstore. However, if you prefer shopping at a variety of stores or do not live close to a Walmart, getting the card may not be worthwhile. Instead, consider adding a card to your wallet that offers rewards in broader categories that match your spending habits.

Frequently Asked Questions

How do I apply for the Walmart credit card

Applying for a Walmart credit card can be done online through Capital One's website. It is suggested that applicants have good or excellent credit to be approved, so those with fair or poor credit might want to consider the Walmart-only Walmart Rewards Card if your application for the Walmart Rewards Card is not approved.

What credit score do you need for the Capital One Walmart Rewards credit card

You need a credit score of 640 or higher to qualify for a Capital One Walmart Rewards Mastercard. This implies that those with average to exceptional credit are more likely to get approved for the Walmart Credit Card.

Is the Walmart Rewards Card only good at Walmart

You can use the Capital One Walmart Rewards Mastercard wherever Mastercard is accepted. The Walmart Rewards Card, on the other hand, can only be used at Walmart and Sam's Club.

Is there an app for the Walmart credit card

Yes, you can access your account using either the Walmart mobile app or the Capital One mobile app for iOS and Android. The Capital One app is also compatible with Walmart Rewards store card. By using the Walmart app, you can use Walmart Pay to earn maximum rewards for shopping at Walmart. In the first year of having the Walmart Rewards Card, using your card with Walmart Pay allows you to earn 5 percent cash back at Walmart (in-stores and on walmart.com).

Can I use the Capital One Walmart Rewards Card at Sam s Club

Yes, the Capital One Walmart Rewards card can be used at Sam's Club and everywhere Mastercard is accepted. It is important to note, however, that you will only earn the base 1 percent cash back rate on purchases, not the 5 percent bonus cash back rate for Walmart.com purchases.

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Written by Robert Thorpe Editor Edited by Credit Cards Editor Reviewed by Editor

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