Now, Capital One is partnered with Walmart to make a brand new Mastercard! This new mastercard will allow you to to get no more than 5% back for online and store transactions. Other than all of the cash-back chances you get towards Walmart products, you’ll be able to use this card wherever it’s accepted. However, it will only give you 2% back, depending on which category you choose to spend in.
Capital One states that “if it’s online, through the app, or in-store, Walmart is already the go-to destination for things consumers need for their families.” Read below for more information on this Mastercard and other features they have to offer.
Capital One Walmart Card In a Nutshell
Being a regular customer at Walmart with this card you’ll be able to earn around 2% – 5% back on their products. With the Walmart Rewards Mastercard, they offer several perks such as:
- No annual fees
- Rewards:
- Unlimited cash-back of 5% online Walmart transactions
- 2% back on Walmart store purchases
- 2% back on restaurant and travel transactions
- 1% back at other places it’s accepted
- Welcome bonus: 5% back towards in-store transactions with Walmart Pay for the first 12 months after being approved.
- APR: With a rate of 17.99%, 23.24%, or 26.99% depending on your credit.
- Late fees or penalties: late fee no more than $39.
- No foreign transaction fees
- Retail Protection Options
- Travel Protection
- Gift cards, travel, recent purchases, etc
Perks to Owning the Capital One Walmart Card
With the Capital One Walmart card, there are many advantages to owning this credit card. This card offers high cash-back rewards. In other words, you’ll be able to buy gas, groceries, electronics, clothes, or whatever else you want at Walmart. Plus, it comes with the ability to earn other cash-back reward rates. Normally, a cash-back reward card will come with annual fees, meanwhile this one does not. And, if you make your payments on time, you’ll be able to avoid their late payment penalty fee.
This card is an amazing option to have in your wallet when you’re travelling as well. It comes with no foreign transaction fees that will limit you on spending on vacation. Make use of this perk with their:
- Car rental collision damage waiver insurance
- Travel accident and emergency medical insurance
- Trip cancellation
- Lost, damaged, or delayed baggage
Downsides to the Capital One Walmart Card
When you use the Capital One Walmart Card, there are only a few disadvantages that come with it. In other words, you should be aware of these drawbacks before signing up with this card. For one, this card will give you 5% back towards online transactions, but only 2% back towards in-store purchases. Plus, there aren’t any free shipping or extended returns features.
Furthermore, there are better credit card offers that have special customer features. Not to mention, this card includes a high interest rate as well. The variable rates will all depend on your credit score. Their APR is pretty high and can be a problem if you have a large balance each month. To stay away from falling into paying for large interests, you must pay your credit card entirely each month.
How to Sign Up for the Card
To sign up for this Walmart card, you must meet several requirements before being eligible for this card. You must be at least 18 or older. Provide your: name, birthday, social security number, citizenship status, residential address, phone number, employment status, phone number, annual income, monthly mortgage or rent amount, back account types.
When you provide all of this information, then you’ll be able to sign up for this Walmart Rewards Card.
Conclusion
With the Capital One Walmart Card, you’ll be able to earn rewards while making transactions. This card is great for people that are regular customers at Walmart. Plus, you’ll get extra savings towards all of the rewards they have to offer. However, if you’re not a frequent shopper at Walmart, this card isn’t the best option for you. Additionally, if you tend to spend more money on gas, groceries, or travel then you might want to consider a different rewards card.