Credit cards are no longer just about making payments, they’re about making your money work harder for you. The Walmart Rewards Mastercard, issued by Capital One, is designed specifically for shoppers who want to save on everyday expenses and earn rewards while doing so.
Whether you’re buying groceries, fueling your car, or booking a family trip, this card helps you earn cashback in multiple categories. Let’s take a detailed look at its benefits, fees, eligibility requirements, and how you can apply.
What Is the Walmart Rewards Mastercard?
The Walmart Rewards Mastercard is a co-branded credit card offered by Walmart in partnership with Capital One. It’s accepted anywhere Mastercard is used, making it versatile for both Walmart purchases and daily expenses like dining, travel, and gas.
What makes this card stand out is its focus on rewarding Walmart loyalists. With Walmart being one of the most popular retailers in the U.S., this card bridges everyday spending with attractive rewards, allowing families and individuals to stretch their budgets further.
In short, it’s more than just a store card, it’s a financial tool that rewards you for shopping smarter.
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Welcome Bonus for New Cardholders
The Walmart Rewards Mastercard comes with a limited-time welcome bonus that makes the first year especially rewarding. Once approved, you’ll earn 5% cashback on all in-store purchases made using Walmart Pay for the first 12 months.
Here’s why this matters:
- Families who spend $400 to $500 monthly on groceries could save over $200 in cashback during the first year.
- The bonus helps you maximize routine shopping trips without changing your habits.
After the first year, in-store rewards shift to 2% cashback, but you’ll still continue to enjoy 5% online rewards through Walmart.com and the Walmart app. This makes it a perfect fit for anyone who does grocery pickups or relies on Walmart’s delivery services.
Reward Features and Cashback Structure
The Walmart Rewards Mastercard uses a tiered cashback system that rewards spending in the areas where most households spend the most:
- 5% cashback: Purchases at Walmart.com and on the Walmart app, including grocery pickup and delivery orders.
- 2% cashback: Purchases made:
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- In-store at Walmart locations
- At Walmart & Murphy USA fuel stations
- At restaurants and on travel-related purchases
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- 1% cashback: All other purchases where Mastercard is accepted (globally).
Example: A family who spends $6,000 annually on groceries, $2,500 on travel, and $1,500 dining out could easily earn over $350 in cashback rewards each year with this card.
There’s no limit on rewards and no expiration date, so your savings can grow as your spending grows.
Redeeming Rewards
One of the standout features of this card is its flexible redemption options. Unlike some programs that lock you into a single system, Walmart and Capital One give you freedom:
- Cash Back: Redeem for actual cash or apply as a statement credit to reduce your balance.
- Walmart Purchases: Pay for items directly online or in-store using your rewards.
- Gift Cards: Redeem points for Walmart gift cards or gift cards from other major brands.
- Travel: Apply points toward flight tickets, hotel stays, and vacation bookings.
There’s no minimum redemption threshold, so you can use rewards as soon as you earn them, whether it’s for a quick discount at checkout or to save up for a bigger purchase.
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Fees and Charges
While the Walmart Rewards Mastercard is fee-friendly, it’s important to know the details:
- Annual Fee: $0 (rare for a rewards card with this level of benefits).
- Purchase APR: 17.99% to 26.99% variable, depending on creditworthiness.
- Balance Transfer Fee: 3% of the amount transferred (if offered).
- Cash Advance Fee: $10 or 3% of the transaction (whichever is greater).
- Cash Advance APR: 26.99%.
- Foreign Transaction Fee: $0, making it travel-friendly.
- Late Payment Fee: Up to $39.
To avoid interest charges, pay your balance in full each month. This way, the rewards you earn won’t be offset by interest payments.
Extra Benefits Beyond Cashback
Aside from cashback, the Walmart Rewards Mastercard comes with added protection and perks:
- Price Protection: Get reimbursed if the price of a purchased item drops within a set period.
- Extended Warranty: Adds up to 24 months of warranty on eligible purchases, saving you money on repairs or replacements.
- Travel & Entertainment Access: Cardholders enjoy exclusive deals and VIP access to concerts, sporting events, and restaurants.
- Fraud Protection: Zero-liability coverage ensures you’re not responsible for unauthorized charges.
- Capital One Mobile App: Manage your account, track spending, set transaction alerts, and freeze your card instantly if needed.
These features make the card not only rewarding but also secure and convenient to manage.
Eligibility Requirements
Before applying, make sure you meet the following requirements:
- At least 18 years old.
- A U.S. resident with a valid Social Security number.
- A U.S. mailing address.
- A fair to good credit score (typically 650+).
Capital One will run a hard credit check, reviewing your income and credit history before approval. Those with higher credit scores stand a better chance of qualifying for the Mastercard version (vs. the store-only Walmart Rewards Card).
Checking Pre-Approval
Not sure if you’ll qualify? Capital One’s pre-approval tool lets you check your eligibility without affecting your credit score.
The pre-check only requires:
- Name and basic personal details
- Employment status and annual income
- Monthly housing expenses (rent or mortgage)
Within minutes, you’ll know if you’re likely to be approved. This step helps avoid unnecessary hard inquiries that could lower your credit score.
How to Apply for the Walmart Rewards Mastercard
Applying is quick and can be done in two ways:
- Online Application
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- Visit Capital One’s website or Walmart.com.
- Fill out the form with your personal and financial details.
- Approval decisions are often made instantly.
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- In-Store Application
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- Visit your nearest Walmart.
- Bring valid ID and supporting documents.
- Speak with a representative and apply on the spot.
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If you’re denied for the Mastercard version, you may still qualify for the Walmart Rewards Card, which can only be used at Walmart but still offers 5% back on online purchases.
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Contacting Capital One
Need help with your application or card management? You can reach Capital One in multiple ways:
- Phone: 1-800-227-4825
- Twitter: @AskCapitalOne
- Mail: Capital One, General Correspondence, P.O. Box 30285, Salt Lake City, UT 84130-0287
The Walmart Rewards Mastercard is a practical and rewarding option for anyone who regularly shops at Walmart. With its 5% cashback on online orders, generous welcome bonus, and no annual fee, it can deliver significant savings year after year.
From grocery runs to travel and dining, the card adapts to your lifestyle while keeping fees minimal. Add in protections like extended warranties, price protection, and fraud monitoring, and it’s clear this card offers more than just cashback.
For frequent Walmart shoppers and families looking to maximize everyday expenses, the Walmart Rewards Mastercard is a smart choice, provided you manage your balance responsibly to avoid high interest charges.