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With a Walmart in almost every city, it might make sense to get the Walmart credit card to earn up to 5% back on Walmart purchases. There’s a high chance your current credit cards do not earn bonus points on Walmart purchases. Because Walmart sells everything from food to car tires, every purchase earns the standard 1 point per $1 spent.
The Capital One Walmart credit cards are here. Capital One takes over the Walmart credit card portfolio starting September 24, 2019. If you’re a current cardholder with a Synchrony Bank account, your card automatically begins earning Capital One rewards on October 11, 2019.
If you don’t own a Walmart credit card yet, Capital One is launching two different options. In addition to getting up to 5% back on Walmart purchases, you can now earn 2% back on travel and dining.
Capital One Walmart Rewards Credit Card
The information for the Capital One® Walmart Rewards™ Card has been collected independently by Johnny Jet. The card details on this page have not been reviewed or provided by the card issuer.
You can apply for the brand new Capital One® Walmart Rewards™ Card starting September 24, 2019. The new Capital One rewards program earns up to 5% back on purchases and replaces the current 3-2-1 Synchrony Bank rewards program.
Even better, you also get to earn 2% back on travel and dining purchases. The previous Walmart credit card only earned bonus rewards on Walmart purchases. Current cardholders will receive their new Capital One-issued card in late 2019 or early 2020. But you beginning earning the new 5-2-1 rewards starting October 11, 2019.
There is no annual fee or foreign transaction fee.
Up to 5% Back
You will earn up to 5% back on purchases:
- 5% back at Walmart.com plus Walmart Grocery Pickup and Delivery
- 5% back on in-store purchases using Walmart Pay (for the first 12 months then 2% back)
- 2% back on in-store Walmart purchases (after the first 12 months)
- 2% back on restaurants and travel
- 1% back on everything else
You can redeem your rewards for travel, gift cards, Walmart.com credit, or statement credits.
It doesn’t appear this card earns bonus cash on Walmart gas purchases. You will need to get the Walmart Rewards Card store charge card to get 2% back on gas purchases. Or you can use another gas rewards credit card.
Walmart’s largest competitor is Amazon. In the this-for-that retail war, Walmart recently quicker and more extensive merchandise and grocery delivery services.
The current introductory offer is 5% back on in-store Walmart purchases using the Walmart Pay app. After the first 12 months, all in-store purchases earn the standard 2% back.
Current Synchrony Bank Walmart Credit Card owners can get 5% back on in-store purchases through October 14, 2020.
No Annual Fee
One nice advantage of this Walmart credit card is that it doesn’t have an annual fee or foreign transaction fee.
Tip: Check our out favorite no annual fee credit cards that are perfect for earning travel rewards.
640 Credit Score
You have the best approval odds for the Walmart credit card with a 640 credit score. This score is on the high end of the “fair credit” category. For perspective, many consider a 670 credit score the start of “good credit” and a 740 credit score the beginning of “excellent credit.”
Other current Walmart Credit Card members report getting approved with a score closer to a 600 credit score. However, you can expect a relatively low credit limit.
Initial credit limits range from being as low as $400 and as high as $2,000. On a positive note, many users report getting an increase within the first 6 months.
If you are still trying to either build or rebuild credit, this card can be a stepping stone. Even with a low credit limit, only using this card for Walmart purchases is an easy and free way to boost your score while earning cash rewards.
Walmart Rewards Card
Capital One is also issuing the Walmart Rewards Card starting September 24, 2019. This is a store charge card that only works at Walmart and Walmart.com. It’s the easier of the two cards to qualify for, especially if you need to rebuild credit.
The Walmart Rewards Card earns 5% back on all Walmart purchases for the first year. After the first 12 months, Walmart.com and Walmart Grocery Pickup and Delivery continue to earn 5% back. In-store purchases will only earn 2% back. Walmart gas station purchases always earn 2% back even during the introductory period.
Walmart Credit Card Review
The current Synchrony Bank Walmart Credit Card earns up to 3% back on every purchase:
- 3% back on Walmart.com and grocery pickup
- 2% back on at Murphy’s USA and Walmart gas stations
- 1% back on in-store Walmart, Neighborhood Market, and Sam’s Club purchases
- One-time $25 statement credit signup bonus
This card is best for making online purchases at Walmart.com and fueling up your vehicle.
If you regularly shop at your local Walmart or Sam’s Club, this card probably earns the same amount as the current rewards credit cards in your wallet. Most rewards credit cards earn at least 1% back (1 point per $1 spent if your card earns rewards points) on non-bonus purchases.
Walmart Credit Card Alternatives
The Walmart Credit Card can be a good option if you are a loyal Walmart shopper. You might get special discounts and earn extra cash rewards that other credit cards don’t offer at Walmart.
However, other cards can boost your purchase power more, even if you shop at Walmart weekly.
Capital One Venture Rewards Credit Card
If you like to travel, the Capital One Venture Rewards Credit Card might be for you. Like the new Walmart credit card, Capital One also issues the Venture Card. You earn unlimited 2 miles per $1 on every credit card purchase.
Your points are redeemable for travel statement credits and booking upcoming travel.
You also get an application fee credit for Global Entry or TSA PreCheck. It’s one of the best Capital One credit cards for travel.
However, if you are wanting to earn a few more miles on travel, good news—earn 5x miles on hotels and rental cars booked through Capital One Travel. Plus, Venture cardholders will earn 5x miles when booking through the Turo app or on Turo.com (through May 16, 2023).
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel, with the Capital One Venture Rewards Credit Card.
Loyal Walmart shoppers can benefit from the current Walmart credit card. Capital One rolling out enhanced earning and redemption options can make this card more attractive. However, you may still enjoy the flexibility of one of the best credit cards for travel rewards that aren’t associated with a specific retail store.