Walmart Credit Card – Complete Guide on How to Apply for and Obtain Benefits

Walmart, like other big companies like Amazon, has grown a name for itself. They stand for quality and trust. If you live in the US or have been there, there is a huge chance that you have been in the store more than once. It is my number one spot for great deals.

Walmart offers their own credit cards which offer their own perks and rewards for shopping at Walmart retail outlets and superstores. In this article, I’m going to share with you how you can make the most of your shopping at Walmart. 

Keep reading to find out how to apply for a Walmart credit card and enjoy its benefits.

  • About Walmart Credit Cards
  • The Walmart Rewards Card
  • How to Apply and Redeem
  • The Walmart Rewards MasterCard
  • Cashback Benefits and No Annual Fee
  • Terms and Fees
Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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About Walmart Credit Cards

Walmart offers two different kinds of credit cards. The first one is The Walmart Rewards MasterCard and the second one is the Walmart Rewards Card. 

Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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While they both have many similarities, which we will discuss below, they also have quite different attributes that are important to note, both in usage and in fees. Read on to learn more.

From Synchrony Bank to Capital One

Walmart credit cards were originally issued by Synchrony Bank, but on October 11, 2019, one of the largest banks in the US, Capital One, overtook the Walmart credit card business.

Users that had the cards issued by Synchrony were automatically upgraded to the Capital One cards, although some actions need to be taken and will be discussed later in this article.

The Walmart Rewards Card 

The Walmart Rewards Card is the go-to card for use in the Walmart store. That includes the physical stores and the online store. This card is limited to use within these stores only and offers only limited outside benefits.

Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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The outside benefits include cashback when you use the card at any of the USA Walmart Fuel stations. It includes cash backs at the Murphy gas stations as well.

To be qualified to own a Walmart Rewards Card, you should be at least 18 years of age, and you must be a U.S. resident

Some personal information is required to apply for a card. This information ranges from your contact information, social security number, your name, date of birth to your financial information. 

Benefits

Users of this card enjoy 5% cashback for using Walmart Pay in Walmart stores. This benefit only lasts for 12 months after initial card approval. You also get 5% cashback on every use of the card on Walmart.com, the Walmart app, and Walmart Grocery Pickup and Delivery.

A 2% cashback reward can be earned when the card is used at certain gas stations. These include either of the USA Walmart Fuel stations and any of the USA Murphy gas stations.

You earn 2% cashback for Walmart purchases in-store. Another perk is that you get $50 cashback for spending $300 within the first three months. Lastly, no annual fee is tacked on the card. 

How to Apply and Redeem

How then do you redeem your points when you use the Walmart Rewards Card? You can redeem points or benefits in one of three ways. During checkout at the physical store, on the website, or on the app. You can also redeem for gift cards and statement benefits.

Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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Applying is easy as you can apply for the Walmart Rewards Card at the register in any Walmart store. Just provide the information listed above in the qualifications and requirement section. You can also apply on the Walmart app or website from the comfort of your home. 

Alternatively, you could apply by texting “Apply” to 22580. Here, I need to re-state that you must be a U.S. resident. Some fees may apply from your phone provider through this method.

Terms and Fees

The Annual Purchase rate (APR) is a 26.99% variable rate. You will also be charged up to $39 for the late fee.

There is no Balance transfer APR fee, cash advance fee, or penalty APR fee. There is also no charge for foreign transaction fees.

The Walmart Rewards MasterCard

The Walmart Rewards MasterCard gives you even more than the Walmart Rewards card, letting you enjoy more benefits. I find this card more useful for me because it allows me to earn rewards more quickly.

Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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With the Walmart Rewards MasterCard, you are not only limited to using it in Walmart locations but anywhere making it stand out as worthy to be included in the ranks of typical credit cards. Let us learn more below.

Qualifications, Eligibility, and Requirements

Just like the Walmart Rewards card, the qualifications and requirements remain the same. You need to be 18 years of age or over in order to own this card. You also must be a U.S. resident to qualify. You need to provide personal information, contact information, and financial information such as annual income, employment status, etc.

To apply and be approved for the Walmart Rewards MasterCard, your credit score will be taken into account, unlike the Walmart Rewards Card which doesn’t require a credit check to apply or qualify. Because of this, if you are rejected for the Rewards MasterCard, you will automatically qualify for the Rewards Card. 

Your personal credit score should be in ‘Good’ or ‘Excellent’ standing in order to be considered and approved.

Cashback Benefits and No Annual Fee

Among the additional perks that come with the Walmart Rewards MasterCard, it also has all features of the regular Walmart Rewards Card. That includes 5% cashback on Walmart stores, Walmart App, and Walmart Grocery Pickup and Delivery. You also get 2% cashback on Walmart purchases in stores and at Walmart and Murphy USA Fuel Stations.

Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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You enjoy 2% cashback when you use this credit card in restaurants and when you use it for travel. You get a 1% cashback when you use the credit card anywhere else. And remember, there are zero annual fees attributed to the credit card. 

Earn 5% cashback for using Walmart Pay in stores for the first 12 months, and $50 cashback if you spend $300 in the first 3 months also apply. There are a few more perks which are extensions of its features and benefits for more offers. 

You enjoy security benefits like $0 fraud liability, security alerts, and card lock. The card can be used as a concierge service to make reservations, finding gifts, and much more. You also get travel and shopping protections which include warranties on products and items you buy.

How to Apply

Knowing what you need to qualify, as I stated in the eligibility and requirements section above, you can apply at the Walmart website. You can also apply by texting “Apply” to 22580, but some fees from your mobile phone provider may apply. Lastly, you can apply on the app or at the checkout in any Walmart store.

You can redeem points through gift cards, statement credits, or when you want to check out on the Walmart app or website. A rewards portal is also accessible to holders of the Walmart Rewards MasterCard. One cent is equivalent to one point. 

So, if you have enough points, say 5,000 points, you can use that to cover a $50 expense on an item, travel expense, or in restaurants that accept the Walmart Rewards MasterCard.

Terms and Fees

For the Purchase, Quick Cash, and Transfer APR, the variable rate is 17.99%, 23.24%, or 26.99%. This is dependent upon your credit score. The Cash Advance APR goes at a variable rate of 26.99%.

Walmart Credit Card - Complete Guide on How to Apply for and Obtain Benefits
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The late fee is the same as the Walmart Rewards Card at $39. The Cash Advance fee is 3% and $10 minimum. There is also a 3% for Promotional APR offers.

Also, for prior users of the Synchrony card, it is important to keep your contact information up-to-date, in order for Walmart to send you your new Capital One Walmart credit card in the mail.

The terms and conditions of the Walmart Rewards MasterCard can be found on the Capital One website.

Disclaimer

There are risks involved when applying for and using credit products. Ensure you consult the bank’s terms and conditions page before agreeing to anything. 

Conclusion

When considering which Walmart Rewards card to use, it really comes down to your current credit score, and what you plan to use the card for. In my case, my credit score is ‘Good’ and I opted to use the Walmart Rewards MasterCard so that I could use it in many other places besides just the Walmart stores to earn rewards more quickly. 

But the perks are just as good for people using the Walmart Rewards Card in-store, especially for those who do a weekly shop in their local Walmart. Earning rewards and cashback for your dedicated patronage means stretching your dollar and buying power even further.