Capital One Walmart Rewards Mastercard Review
Capital One Walmart Rewards Mastercard is ideal for frequent Walmart shoppers, with an unlimited high-reward rate of 5% back on online purchases with this retailer. This card also features no annual fees and no foreign transaction fees.
The Capital One Walmart Rewards Mastercard is an excellent choice for those who frequently shop at Walmart. Its high rewards rate is redeemable toward purchases at Walmart stores, other retailers and even flight and hotel accommodations.
The rewards you earn on your purchases are also unlimited and don’t expire unless you close your account. However, this card has a variable APR based on your creditworthiness. Hence, you can benefit most from this card if you have a good credit score.
Card Details to Know Up Front
- Bonus, Fee or FeatureHas or Not
- Has Annual Fee
- Has Balance Transfer Offer
- Has APR Offer
- Cash Back Rewards
- Travel Rewards
Capital One Walmart Rewards Mastercard at a Glance
If you’re sure to pay off your balance each statement, you can net benefit from the Capital One Walmart Rewards Mastercard’s high cash back rate. It offers unlimited rewards that don’t expire — including 5% cash back for purchases at Walmart.com, an introductory 5% cash back bonus for purchases in Walmart stores for the first year (2% after that), 2% cash back at fuel stations, restaurants, and on travel, and 1% on other eligible transactions. Plus, they have no annual fees, so you get a lot of value for no extra expense.
- Capital One Walmart Rewards Mastercard
A good no-annual-fee cash back card for people who shop at Walmart frequently
- Good - ExcellentCredit Needed
- 1%-5% Cash BackRewards Rate
- $0Annual Fee
- 3.00%Cash Back Rate (Avg Value)
Pros & Cons Explained
To determine whether this card is the best option for your needs, MoneyGeek breaks down the Capital One Walmart Rewards Mastercard benefits and shortcomings.
- Unlimited Rewards That Never ExpireWith a whopping 5% cash back rate on Walmart purchases online and 2% cash back in-store, you can stock up on rewards. For example, if you spend about $500 per month shopping online at Walmart.com, you could earn 30,000 points per year, equivalent to $300 in cash. That’s not including money spent on in-store purchases, your 2% cash back on dining, travel and fuel purchases, or 1% cash back from other retailers.
- Flexible Rewards RedemptionRedeem your rewards in cash back, or get them in statement credits, gift cards, travel and more. More choices equals better value for your money.
- No Annual FeeYou can enjoy all the perks mentioned above with no annual fee.
- No International Transaction FeesDon’t worry about paying extra when you use this card outside the U.S., as it has no foreign transaction fees.
- No 0% Introductory APRDoesn’t offer 0% introductory Annual Percentage Rate (APR) on purchases or balance transfers, so you’ll be paying interest from the get-go.
- High Interest RateBased on your creditworthiness, you’ll get either a 17.99%, 23.24% or 26.99% APR.
- Requires Credit ApprovalTo qualify for this card, you must have good or excellent credit.
Although several notable perks come with this card, it didn’t make our list of top-rated cash back credit cards. If you're looking for better choices, you can review our list of the best cash back credit cards of 2022.
Bonuses & Rewards Explained
With the Capital One Walmart Rewards Mastercard, you can earn the most rewards shopping at Walmart.com. There are no caps or expiration dates for the points you earn with the card. It also offers the following bonuses and rewards.
Earn Cash Back
To maximize your rewards, earn 5% cash back on purchases made through Walmart.com or the Walmart mobile app. You’ll also earn 2% back on purchases you make at Walmart stores, 2% back on travel and dining purchases and 1% back on other purchases. The rewards you earn are unlimited and do not expire.
Capital One Walmart Rewards cardmembers who use Walmart Pay earn 5% cash back in Walmart stores for the first 12 months after approval, then 2% after that.
Redeem Rewards in Several Ways
You can redeem your cash back as a check or a statement credit. You can also claim rewards to cover a new or recently made purchase, buy gift cards or pay for travel.
Other Features Explained
Aside from the rewards, there are other notable features of the Capital One Walmart Rewards Mastercard worth considering.
- Card FeatureDescription
- Fast and Easy Pre-Approval ProcessCheck your Capital One Walmart Rewards Mastercard pre-approval online without affecting your credit score.
- Security AlertsIf Capital One notices suspicious activity on your account, you will be notified via email, text and phone.
- Capital One Mobile AppEasily manage your account wherever you are. Access your balance, check your transactions and pay your bills.
The Capital One Walmart Rewards Mastercard offers the most rewards when you shop at Walmart.com or use the Walmart mobile app, where you'll earn 5% cashback. Given the card's high interest rate, timely payments can help you take advantage of the card's earning power.
Understanding the Fine Print
Knowing a credit card’s hidden fees and interest rates is crucial when determining if it’s right for you. Here’s what you need to know about the Capital One Walmart Rewards Mastercard.
- Card FeatureAmount or Rate
- APR17.99% - 26.99%
- Annual Fee$0
- Cash Back Rewards
- Rewards Rate1%-5% Cash Back
- Airline Benefits
The APR for purchases and quick cash is 17.99%, 23.24% or 26.99%, depending on your creditworthiness.
There is no annual fee for this card
Cash Back Reward Rate
With the Capital One Walmart Rewards Card, you earn 5% cash back on your purchases via Walmart.com, 5% cash back on your Walmart Pay purchases for the first year, 2% back on dining and travel and 1% back on all other purchases.
Balance Transfer APR and Fee
The APR for transfers is 17.99%, 23.24% or 26.99%, depending on your creditworthiness. There's also a 3% fee for each transferred balance that posts to your account, while there is no fee for balances transferred at the Transfer APR.
Cash Advance Fee
Each cash advance will result in a fee of either $10 or 3% of the amount, whichever is higher.
It’s important to compare features, fees and rates of cash back rewards credit cards to determine the best option for your needs. To find this information on a card you already have, look at your last billing statement or visit your card issuer's website or app. You may also find information through the credit card agreement database provided by the Consumer Financial Protection Bureau (CFPB).
Who Should & Shouldn’t Consider Capital One Walmart Rewards Mastercard?
Other Considerations for Capital One Walmart Rewards Mastercard
The right credit card for you should be based on your needs and lifestyle choices. The way you utilize your card can affect your financial status. So if you want to avoid serious financial difficulties, here’s what you need to consider before choosing this card.
Things to Consider if This Will Be Your First or Only Credit Card
If you decide to use this credit card as your first or only credit card, keep in mind the high APR when deciding which purchases to make — any rolling balances will result in significant interest. However, if you maintain healthy paying habits, you can benefit from this card's high rewards rate and unlimited cash back.
Things to Consider if This Will Be an Additional Card in Your Wallet
The Capital One Walmart Rewards Mastercard lets you earn ample cash back on your Walmart purchases without paying an annual fee. This card also doesn't charge foreign transaction fees, making it a great option if you travel abroad. It makes the most sense to add this card to your wallet if you’re an avid Walmart shopper looking for a card that rewards you for your spending habits.
This Capital One Walmart Rewards Mastercard review followed a well-defined methodology, examining consumer reports from the Consumer Financial Protection Bureau. Standard data points were used to compare fees, rewards, bonuses and estimated average spending profiles.
How Capital One Walmart Rewards Mastercard Compares to Other Cards
Due to its zero annual and international transaction fees and its generous rewards rate, this card stands out among other cash back credit cards. Ultimately, weighing its merits compared to other cards depends on your credit card needs and spending habits.
Quick Comparison of Capital One Walmart Rewards Mastercard
Capital One Walmart Rewards Mastercard
- Annual fee: $0
- Purchase APR: 17.99%–26.99%
- Cash back rate: Up to 5%
- International transaction fee: 0%
- Best for: Frequent Walmart shoppers who want to redeem rewards for their purchases
Chase Ink Business Cash
- Annual fee: $0
- Purchase APR: 13.24%–19.24%
- Cash back rate: 5%
- International transaction fee: 3%
- Best for: Business owners who wish to earn rewards on their day-to-day expenses
Other Helpful Decision-Making Q&As
MoneyGeek answered some frequently asked questions about the Capital One Walmart Rewards Mastercard to help you decide if this card is right for you.
Still not sure about this card? Consider these options.
If you're still unsure about getting the Capital One Walmart Rewards Mastercard, consider some of the other cards you can use to earn big rewards. You can choose a rewards card or a balance transfer card as an alternative to a cash back card.
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