Capital One Walmart Rewards® Mastercard®
vs. Credit One Bank American Express® Card

Updated: June 19, 2024

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Both the Capital One Walmart Rewards® Mastercard® vs. Credit One Bank American Express® Card offer appealing cash back rewards, which might be why you're considering them. If you're a frequent Walmart shopper, the Walmart Card is the superior choice due to its high cash back rates on Walmart.com and the additional rewards for in-store purchases.

But the Credit One Amex should not be overlooked, especially if you’re valuing a card that's accessible with fair credit. While it has an annual fee, its unlimited 1% cash back on all purchases and access to Amex Offers can be beneficial.

Credit Card logo for Capital One Walmart Rewards® Mastercard®
Capital One Walmart Rewards® Mastercard®
Credit Card logo for Credit One Bank American Express® Card
Credit One Bank American Express® Card
MoneyGeek Rating
3.6/ of 5
MoneyGeek Rating
3.6/ of 5

  • Regular APR
    19.48%, 19.48%, or 29.99% variable
    29.74% variable
    0% APR Offer
    -
    -
    Intro Offer
    Earn 5% Cash Back
    No current offer
    Rewards Summary
    -
    Earn 1% cash back
    Balance Transfer Offer
    -
    -
    Balance Transfer Fee
    3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you
    -
    Annual Fee
    $0
    $39
    Recommended Credit
    580-740 (Fair to Good)
    580-740 (Fair to Good)
    Penalty APR
    -
    -
    Not sure?

Which Card Is Better for You?

You might prefer the Walmart Card if you frequently shop at Walmart, especially online. With this card, you'll earn 5% cash back on Walmart.com purchases, including pickup and delivery, and 2% back on Walmart store purchases. It's also appealing if you want to avoid an annual fee and potentially have a lower APR based on your creditworthiness.

You might prefer the Credit One Amex if you value simplicity in your rewards program and are looking for a card that offers a flat cash back rate on all purchases. The unlimited 1% cash back on every purchase can accumulate quickly, and the benefits of Amex Offers can provide additional savings, offsetting the annual fee.

Head-to-Head Comparison: Card Details and Features

Evaluating features like APRs, fees, credit requirements, rewards and introductory offers will clarify which card is for you.Fo r example, frequent Walmart shoppers may lean towards the Walmart Card for its higher cash back rates on Walmart.com, while those valuing simplicity might prefer the flat cash back rate of the Credit One Amex.

    discount icon

    Regular APR: Walmart Card

    The Walmart Card is better, offering rates as low as 19.48% variable, compared with the Credit One Amex’s rate of 29.74% variable.

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    Annual Fee: Walmart Card

    The Walmart Card is the clear winner with a $0 annual fee, compared with the Credit One Amex, which charges $39 annually.

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    Introductory 0% APRs: Tie

    Neither the Walmart Card nor the Credit One Amex offers introductory 0% APRs on purchases or balance transfers. Options with introductory 0% APR offers are available.

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    Rewards: Walmart Card

    The Walmart Card is better for rewards, offering 5% cash back on Walmart.com, 2% on Walmart stores, Murphy USA and Walmart fuel stations, and restaurants and travel, plus 1% on all other purchases. The Credit One Amex offers a flat 1% cash back on all purchases. With its higher effective reward rate and co-branded benefits, the Walmart Card excels if you frequently shop at Walmart.

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    Welcome Offers: Walmart Card

    The Walmart Card offers a welcome bonus of 5% cash back on Walmart store purchases when using Walmart Pay for the first 12 months, making it superior for those seeking initial rewards. The Credit One Amex does not offer a welcome bonus.

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    Recommended Credit Score: Tie

    Both the Walmart Card and the Credit One Amex cater to people with credit scores ranging from 580 to 740 (fair to good), making them equally accessible options if you’re within this credit score range.

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    Penalties and Fees: Walmart Card

    The Walmart Card is better for penalties and fees, offering no foreign transaction fees and a lower cash advance fee percentage compared with the Credit One Amex.

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    Issuer Satisfaction: Walmart Card

    Capital One outperforms with an issuer satisfacition rating of 4.2, compared with the Credit One Amex’s rating of 2.0.

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    Other Features & Perks: Tie

    Both cards offer unique perks. The Walmart Card provides no foreign transaction fees, ideal for travelers. The Credit One Amex includes Retail Protection, Amex Offers, exclusive event access and Travel Accident Insurance.

Rewards Comparison

The Walmart Card leads with a more lucrative rewards program, particularly for frequent Walmart shoppers. With an expected reward value of $390, it's tailored for those who often shop online at Walmart.com, offering 5% cash back. Additionally, dining and travel purchases earn a respectable 2% cash back, making it a strong contender for those categories as well.

The Credit One Amex, while offering a flat 1% cash back on all purchases, falls short in maximizing rewards for specific categories. However, its simplicity and consistency across all spending could appeal if you prefer a straightforward rewards structure without category tracking.

The Walmart Card's additional perks for Walmart purchases, especially the 5% cash back on in-store purchases for the first 12 months when using Walmart Pay, further enhance its value proposition for Walmart customers. The Credit One Amex, with its $39 annual fee, doesn't offer the same level of rewards but could be a fit for if you seek access to Amex Offers and a card that rewards evenly across all spending.

The table of bonus categories helps you visually compare the rewards programs of both cards.

Category
Walmart Card
Credit One Amex

Walmart.com purchases

5% cash back

1% cash back

Walmart in-store purchases

2% cash back

1% cash back

Restaurants

2% cash back

1% cash back

Travel

2% cash back

1% cash back

All other purchases

1% cash back

1% cash back

Redeeming Rewards

The Walmart Card offers a variety of redemption options, including for cash back, statement credits, and even towards purchases on Walmart.com, travel and gift cards, with the added benefit of no expiration date as long as the account is active.

The Credit One Amex simplifies the process by automatically applying rewards as a statement credit, though it does not specify a range of redemption choices or expiration terms.

Methodology

MoneyGeek evaluates credit cards like the Walmart Card and Credit One Amex using a ranking process tailored for various use cases. This approach ensures that the score reflects the card's performance in the scenario where it provides the most value.

For cash back cards, the primary factors we consider are the effective reward rate and the return on investment for offers. These elements — along with annual fees, introductory purchase rates and issuer satisfaction — contribute to a card's overall score. For a detailed understanding of our process, you can review our ranking methodology.

FAQ: Walmart Card vs. Credit One Amex

What are the annual fees for the Walmart Card and the Credit One Amex?
How do the rewards programs compare between the Walmart Card and the Credit One Amex?
What is the regular APR for each card?
Are there any introductory offers for these credit cards?
Can I use these cards abroad without incurring foreign transaction fees?

About Doug Milnes, CFA


Doug Milnes, CFA headshot

Doug Milnes is a CFA charter holder with over 10 years of experience in corporate finance and the Head of Credit Cards at MoneyGeek. Formerly, he performed valuations for Duff and Phelps and financial planning and analysis for various companies. His analysis has been cited by U.S. News and World Report, The Hill, the Los Angeles Times, The New York Times and many other outlets.

Milnes holds a master’s degree in data science from Northwestern University. He geeks out on helping people feel on top of their credit card use, from managing debt to optimizing rewards.


*Rates, fees or bonuses may vary or include specific stipulations. The content on this page is accurate as of the posting/last updated date; however, some of the offers mentioned may have expired. We recommend visiting the card issuer’s website for the most up-to-date information available.
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