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Capital One Walmart Rewards® Mastercard® Review: 5% Back Online

Capital One Walmart Rewards® Mastercard® review
KEY TAKEAWAYS
  • The Capital One Walmart Rewards® Mastercard® earns 5% cash back on Walmart.com and via the Walmart app, 2% back on travel and at restaurants, 2% back at Walmart stores as well as Walmart & Murphy USA fuel stations, and 1% back everywhere else.
  • What we think: This Walmart Rewards credit card is a good choice for consumers who do the majority of their shopping virtually at Walmart, with 5% cash back on online and in-app Walmart purchases and no annual fee.
  • Cardholders are eligible for other benefits, including travel insurance, purchase protection and 0% fraud liability.
  • Applicants need to have at least fair to good credit to be approved for the Walmart Rewards card.
  • Once approved, you can automatically add your card to Walmart Pay to use it instantly.
  • Credit limits start at $300, but your limit depends on your credit score, debt-to-income ratio and annual income.
SUMMARY

With just a few clicks, you can visit Walmart and fill your cart with anything from new pajamas to a big-screen TV. And now, you might be able to save a bundle simply by using the Capital One Walmart Rewards® Mastercard® to finalize your purchases.

This Capital One credit card is packed with benefits that could pad your bank account and help you feel better about stocking up on essentials. But before you start swiping right on a new lunch box or furniture set, take a closer look at what this cash-back credit card has to offer.

In this Walmart credit card review, we’ll cover topics like:

  • Is the Capital One Walmart Rewards card worth it?
  • Capital One Walmart Rewards® card rewards
  • How the Capital One Walmart Rewards® card compares
Pros & Cons

Pros

  • No annual fee
  • High rewards rate at Walmart.com
  • Instant use through the Walmart app

Cons

  • Subpar rewards outside of online Walmart purchases
  • Few additional perks
  • No intro APR offer
Capital One Walmart Rewards® Mastercard®
LEARN MORE
Key Information
Earn 5% back on Walmart.com & in the Walmart app, including grocery pickup and delivery, 2% back on restaurants and travel, and at Walmart Stores, Walmart & Murphy USA gas stations, and 1% back everywhere else Mastercard® is accepted. $0 annual fee.

Is the Capital One Walmart Rewards® Mastercard® worth it?

The Walmart Credit Card may be worth it if you can do most of your monthly spending through Walmart.com or the Walmart app, or if you like to have specific cards for specific purposes.

Walmart is one of the biggest retailers in the United States, and if you’re a Walmart loyalist looking for a way to make the most of your purchases, signing up for the Capital One Walmart Rewards® Mastercard® may be worth your while.

Many major rewards credit cards have exclusion clauses for Walmart because it’s technically a superstore. If you have one of those cards and shop at Walmart frequently, you’re basically leaving money on the table.

The flip side, however, is that the rewards scheme isn’t so great for non-Walmart spending. If you’re a frequent traveler or a foodie who likes to charge tasty restaurant meals a few times a week, you’re only going to get 2% back on those purchases.

These lists of pros and cons will shed some more light on what this Walmart card has to offer.

  • One of the only credit cards that offers Walmart rewards
  • No annual fee
  • No foreign transaction fee
  • Welcome offer boosts reward potential even higher
  • Non-Walmart spending is tied to less-than-stellar rewards rates
  • Highest rewards are only available if you shop at Walmart.com or purchase through the Walmart app
  • Doesn’t offer lower introductory APR

Learn more about the Capital One Walmart Rewards Mastercard

Rewards

Let’s take a look at the rewards structure for the Capital One Walmart credit card.

Welcome bonus

Customers approved for a Walmart credit card are eligible for a welcome bonus in the form of extra cash back, but only for a limited time. Walmart offers new cardholders 5% back in Walmart stores (more than double the usual 2%) for the first 12 months. To get the 5%, you need to pay for your in-store goodies using your Capital One Walmart Rewards card with Walmart Pay.

Earn rewards

You can earn Walmart credit card rewards simply by shopping at Walmart, but that’s just the beginning.

Here’s a quick rundown of this card’s cash-back potential:

Note that, with this groceries credit card, you get more rewards for shopping online and through the Walmart app than you do if you shop and check out in a brick-and-mortar store. You can maximize your rewards by shopping online and scheduling in-store or curbside pickup. This allows you to get more cash back without paying for shipping and waiting for delivery.

To see how this comes together, imagine the following monthly purchases, all made using your Walmart card.

Type of Purchase Cash Back Percentage Amount Spent Total Cash Back Amount
Walmart.com groceries and essentials (ordered online for in-store/curbside pickup) 5% $500 $25
Home goods, clothes and electronics (via Walmart.com or the Walmart app) 5% $375 $18.75
Restaurants 2% $150 $3
Travel 2% $50 $1
Gas @ Walmart & Murphy USA fuel stations 2% $175 $3.50
Miscellaneous purchases (streaming services, rideshares, museum trips, show tickets, etc.) 1% $450 $4.5

Add it all up, and you could be pocketing around $55.75 cash back each month. Multiple that by 12 months, and you stand to take home a whopping $669 in rewards each year.

Keep in mind this table assumes all listed purchases were made through Walmart.com and/or using the Walmart credit card. If you buy groceries at a neighborhood supermarket or go to the mall for your new furniture and clothes, you won’t be eligible for the highest cash-back rates.

Redeem rewards

You might be rolling in points, but how exactly do you redeem Walmart rewards?

Since the Capital One Walmart card rewards consumers with cash back instead of using a points system, points redemption is extremely simple. Capital One will either apply the rewards directly to your statement as a credit, lowering your account balance, or you can ask for a check mailed to your address.

Capital One Walmart Rewards® Mastercard® benefits & perks

While cash back is always fun, the list of Walmart credit card benefits goes far beyond amassing some extra cash.

Travel benefits

When you purchase travel using your Walmart card, you’re eligible for the following perks and protections.

Shopping protections

Shop with your Capital One Walmart card and the company will extend extra benefits to protect you and your purchases.

Fees, rates & limit

Part of learning how a Walmart credit card works is understanding how fees, interest rates and credit card limits fit into the big picture.

Fees

As with all credit cards, the Capital One Walmart card does come with some fees.

Interest rates

The Walmart credit card also has interest rates to know about.

Credit limit

The card limit for Capital One Walmart Rewards cards starts at $300. This Walmart Rewards card is aimed at consumers with good to excellent credit, and the highest card limits will likely go to applicants who have proven themselves the most creditworthy. In other words, the higher your credit score is, the higher your credit limit will likely be, too.

How the Capital One Walmart Rewards® Mastercard® compares

Let’s see how this card stacks up against some other cash-back credit cards.

Capital One Walmart Rewards® Mastercard® vs. Prime Visa card

The Prime Visa card requires the applicant to have an Amazon Prime membership. That costs $139 per year (or $69 for students). This could be viewed as the card’s annual fee, but keep in mind Prime membership also comes with tons of other perks, like free Amazon.com shipping and Prime Video and Amazon Music access.

As for rewards, the Amazon Prime Visa offers the following:

If you’re already an Amazon Prime member, the company’s Prime Visa card is almost a no-brainer. With a comparable interest rate of 19.49% to 27.49% variable APR, it’s just a matter of whether you prefer to shop at Walmart or with Amazon.

Capital One Walmart Rewards® Mastercard® vs. Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express offers a very favorable 6% cash back on groceries and streaming services, serving up major savings for two big consumer spending categories. Other rewards include 4% on dining and entertainment and 3% cash back on transportation expenses.

The annual fee for this card is relatively high at $95 per year (see rates and fees). But with 6% cash back, if you spent $500 per month on groceries, you could rack up as much as $360 per year in rewards. Introductory APR rates of 0% for 12 months amplifies your savings, and you may be eligible for a welcome bonus of $250 back if you spend $3,000 within six months of activating your card.

After the introductory period, Blue Cash Preferred from Amex has a variable APR of 19.24% to 29.99%. If you’re not a frequent Walmart shopper, you may be happier with the cash-back opportunities you get with this Amex rewards credit card.

Is the Capital One Walmart Rewards® Mastercard® right for me?

If you’re a regular Walmart shopper and don’t mind purchasing online for in-store or curbside pickup, the Capital One Walmart credit card could be right up your alley. You’ll get cash back for all your eligible Walmart.com and Walmart app purchases, plus lesser rewards for many other items and services you’d buy anyway.

But if you don’t shop with Walmart very often, this might not be the best credit card for you. Explore other cash-back credit cards or use your Walmart card in rotation with other, differently structured credit cards to get the best rewards no matter where you shop.

If you want to stick with Capital One but aren’t convinced the Walmart credit card is right for you, check out these reviews to see if you find a better fit.

How do I get the Capital One Walmart Rewards® Mastercard®?

You can learn more about the Capital One Walmart Rewards card and apply online. You can see if you’re preapproved, which won’t affect your credit score, or apply for the card immediately.

To complete the application, you’ll need to provide your personal information, including your name, birth date, address, annual income and Social Security number. Capital One will check your credit, and you need a credit score of at least 630. Once approved, you get instant use to your credit through the Walmart app by adding a temporary shopping pass to Walmart Pay.

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FAQs: Capital One Walmart Rewards® Mastercard®

Is the Capital One Walmart Rewards® Mastercard® worth it?

The Capital One Walmart credit card is a worthwhile addition to your wallet if you already do a lot of your shopping at Walmart or plan to in the future. Because the best cash-back rewards are tied to purchases through Walmart.com and the Walmart app, those purchases should make up most of your expenses. If you rarely shop at Walmart, this probably isn’t the card for you.

Can I get cash back on my Capital One Walmart Rewards® Mastercard®?

You can get cash back on your Capital One Walmart credit card by making purchases that qualify for rewards. This includes purchasing items through Walmart.com or the Walmart app (5% cash back), travel and restaurant expenditures (2%) and 1% cash back on almost everything else.

Can I use my Capital One Walmart Rewards® Mastercard® anywhere?

You can use your Capital One Walmart card anywhere Mastercard is accepted. That includes non-Walmart stores and fuel stations, although your cash-back rewards will not be as high for purchases made outside Walmart’s digital network.

What is the difference between the Capital One Walmart Rewards® Mastercard® and the Walmart store card?

While the Capital One Walmart card is associated with Mastercard and can be used anywhere Mastercard is accepted, the Walmart store card is a private label credit card only valid at Walmart. Both offer cash-back rates of up to 5%, and neither has an annual fee.

What is the credit limit on the Capital One Walmart Rewards® Mastercard®?

The minimum credit limit attached to a Capital One Walmart card is $300. That said, your actual limit will be determined at the time of approval according to relevant factors like your credit score, current debt-to-income ratio and annual income.

What credit score do I need for the Capital One Walmart Rewards® Mastercard®?

The recommended credit score for Walmart credit card applicants is fair to good, which translates to a score of at least 580-740. Consumers with poor credit or limited credit history may be better off exploring secured credit cards to rebuild their credit before applying for a rewards card.

What bank is the Capital One Walmart Rewards® Mastercard® with?

The Walmart Credit Card is a Capital One card and is part of the Mastercard network.

Can I use my Capital One Walmart Rewards® Mastercard® at Sam's Club?

Yes! Since the Walmart credit card is a part of the Mastercard network, it can be used at Sam’s Club and online at Costco!

Alana Luna (Musselman)
Alana Luna (Musselman) Writer & Content Strategist

Alana Luna (Musselman) is a versatile storyteller with over a decade of writing experience. She is passionate about helping people build their business through unique and engaging content. Some examples of her current freelance projects include building content strategies for small businesses, completing industry research to build case studies, crafting buyer guides and more.

She has a passion and keen ability to simplify complex ideas through storytelling to make it easier for readers to understand hard-to-digest information. As such, Alana’s writing holds strong three principles – content that educates, engages and entertains.

Apart from her contributions to LA Times Compare, Alana has freelanced and ghostwritten for large publications and prestigious brands such as Orbitz, Groupon, Amazon, JCPenney, Walmart and more.

* Opinions expressed here are those of the LA Times Compare Cards Team and have not been reviewed or approved by any advertiser or entities included within this content. See our editorial policy for more details.

All products or services are presented in this content without warranty. The information, including card details such as rates and fees, is accurate at the time of publish. Please visit each bank's website directly for the most current information.

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