Capital One Walmart Rewards® Mastercard® review: Great rewards for customers of one of the largest retail chains
Great rewards for Walmart customers despite its thin perks portfolio.
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Snapshot
4.0
Bottom line
Intro offer
5%
Rewards rate
1% - 5%
Annual fee
$0
Regular APR
19.48% or 29.99% (Variable)
Bankrate Score
Rewards value
APR
Rewards flexibility
Features
Remove a card to add another to compare
Remove a card to add another to compare
Bankrate’s take: The Capital One Walmart Rewards® Mastercard® has been discontinued following the end of Capital One’s and Walmart’s partnership. The card is no longer accepting applications, but current cardholders can continue to enjoy 5 percent back on eligible Walmart purchases until Capital One discontinues the rewards.
Capital One Walmart Rewards Mastercard Card Overview
For fans of online shopping and Walmart stores, the no-annual-fee Capital One Walmart Rewards® Mastercard®* was among the best credit cards for groceries, everyday products, electronics and home furnishings.
It offered an impressive 5 percent cash back on Walmart.com purchases, including grocery pickup and delivery orders. The card also offered 2 percent cash back for in-store Walmart purchases, restaurants and travel and 1 percent on all other purchases. It was an instant-use credit card that offered newly approved applicants the chance to start earning rewards with the big-box retailer within minutes of approval.
Despite its generous rewards for Walmart purchases, the card lacked the flexibility of other reward cards. Since it has now been discontinued, you might consider checking other rewards credit cards that earn bonus cash back in various categories, which may provide better value.
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Rewards
- 5 percent cash back at Walmart.com, including pickup & delivery
- 2 percent cash back in Walmart stores & Walmart-branded gas stations, at restaurants and on travel
- 1 percent cash back on all other purchases
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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
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Rates and fees
- APR: 19.48 percent to 29.99 percent variable
- Annual fee: None
- Balance transfer fee: $0 at the Transfer APR, 3% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
- Cash advance fee: 3 percent of the amount of the cash advance, but not less than $3
- Late payment fee: Up to $39
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Other cardholder perks
- $0 Fraud liability
- Card lock
- Security alerts
Alternatives to Capital One Walmart Rewards® Mastercard® review
There are several rewards cards available that can be suitable replacements for the Walmart Mastercard, though none of them cater to Walmart purchases. If you’re open to making some changes to your shopping habits — or you missed the boat on this card altogether — here are a few alternatives worth considering.
Capital One Walmart Rewards® Mastercard®
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 Score
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.
Annual fee
Intro offer
Earn a $250 statement credit after you spend $3,000 in eligible 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 Score
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.
Annual fee
Intro offer
Earn $200 in cash back after you spend $1500 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. Special Travel Offer: Earn an additional 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2026. Earn unlimited 1% cash back on all other purchases.
Recommended Credit Score
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.
Walmart Rewards Mastercard pros and cons
Pros
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Its no-annual-fee structure provides an accessible way to maximize rewards earnings and keep costs low.
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It earns a boosted rewards rate on Walmart.com purchases, which isn’t widely available.
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You could use the card immediately in the Walmart app upon approval, which proved convenient for sticker shock moments at the checkout screen.
Cons
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You had to use the Walmart Pay app to earn this card’s welcome offer, which was inconvenient if you weren’t mobile-savvy.
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The card lacks valuable perks that many other rewards cards offer, such as statement credits and intro APRs.
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The ongoing rewards rate for in-store Walmart purchases is the same as that of many flat-rate cards, which you can use anywhere.
Best cards to pair with the Walmart Rewards Mastercard
Even if you’re keeping your Walmart Mastercard, it’s worth pairing it with other cards to help you earn rewards on most of your purchases. If you value cash back above other rewards, it makes sense to pair the Capital One Walmart Rewards Card with a flat-rate cash back card or another cash back card that offers boosted rewards in different categories.
Bankrate’s Take — Is the Walmart Rewards Mastercard worth keeping?
It’s generally a good idea to keep older credit cards to improve your available credit and increase the average age of your accounts. And for some, Walmart is more than just a retailer — it’s the primary hub for groceries, home goods, auto care and more. With unlimited 5 percent cash back on purchases at Walmart.com, which includes grocery pickup and delivery, there’s a lot to love for those who shop online at the superstore.
However, if you prefer shopping at different stores or do not live close to a Walmart, keeping the card may not be worthwhile. Instead, consider adding a rewards card to your wallet that offers rewards in broader categories that match your spending habits. Plus, Capital One may eventually update the rewards program on this card to remove your boosted rewards rate, so you’ll want to be prepared.
*The information about the Chase Freedom Flex® and the Capital One Walmart Rewards Mastercard has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
For Capital One products listed on this page, some of the benefits may be provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
How we rated this card
We rate credit cards using a proprietary card scoring system that ranks each card’s estimated average rewards rate, estimated annual earnings, welcome bonus value, APR, fees, perks and more against those of other cards in its primary category.
Each card feature is assigned a weighting based on how important it is to people looking for a card in a given category. These features are then scored based on how they rank relative to the features on other cards in the category. Based on these calculations, each card receives an overall rating of 1-5 stars (with 5 being the highest possible score and 1 being the lowest).
We analyzed over 150 of the most popular rewards and cash back cards to determine where each stacked up based on their value, cost, benefits and more. Here are some of the key factors that influenced this card’s overall score and how the score influenced our review:
Frequently asked questions
What cardholders think
Capital One Walmart Rewards® Mastercard®
In May 2024, Bankrate collaborated with third-party SliceMR to survey 6160 cardholders nationwide. Bankrate and Slice MR collected, averaged and presented website analytics and cardholder responses to six questions on a 5-point scale. Responses are based on individual cardholder’s product details, and therefore cannot be verified for accuracy. Users received an incentive for their feedback. User ratings are unedited and have not been reviewed or approved by credit card issuers, nor do these ratings reflect Bankrate’s own reviews of these cards.
Community Reviews
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author's alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.