Capital One Walmart Rewards Card: The Best 5% Cashback Card?

By | September 10, 2021

Capital One Walmart Rewards Card is a collaborative cash card by Capital One for those who frequently shop at Walmart stores. If you frequently shop at Walmart Stores, it is one of the best cards that offer you many rewards.

It also offers you additional rewards for making purchases at Walmart Stores (whether offline or online) using Walmart-Pay (Walmart’s smartphone payment app). It enables you to earn a whopping 5% Cashback on all purchases made at Walmart throughout the year.

However, you should note that while applying for it, Walmart may automatically approve you for the Walmart Rewards Card, even with a lower credit score. That implies that you can apply for the general Cashback and other perks offered by Walmart but can get stuck with a credit card that holds a lower reward value.

Unlike its primary competitor, the Amazon Prime Rewards Visa Signature Card, which primarily functions as a virtual, online platform for shopping, Walmart, on the other hand, has a broad base due to the physical presence of almost 10,000 stores across the globe.

What’s Ahead

  1. Highlights
  2. Pros & Cons
  3. Full Review
  4. Rates & Fees
  5. Why might you wan to go for Capital One Walmart Rewards Card?
  6. Why might you want to go for a different Credit Card?
  7. Best Alternative of Capital One Walmart Rewards Card
  8. Capital One Walmart Rewards Vs Discover it® Cash Back
  9. Capital One Walmart Rewards Card Vs Amazon Prime Rewards Visa Signature.
  10. Bottom-Line: Is Capital One Walmart Rewards Card the best 5% Cashback Card?
  11. Frequently-Asked-Questions

Capital One Walmart Rewards Card
Capital One Walmart Rewards Card

Highlights: First Glance at Capital One Walmart Rewards Card.

  • Earn 5% Cashback Reward at Walmart website (Walmart.com), Walmart App, Grocery Pickup and Delivery Services.
  • Earn 2% Cashback Rewards at Walmart Stores, Walmart and Murphy USA fuel stations, dine-in joints, travel and gift cards purchased in-store.
  • Earn 1% Cashback on various other forms of expenses.
  • No Annual Fee is Applicable.
  • No Foreign Transaction Fee is Applicable.
  • 3% Balance Transfer Fee per transaction.
  • No introductory APR is Applicable. A Variable APR of 17.99%-26.99% is applicable.
  • MasterCard Elite Perks
  • Purchase Protection.

Pros & Cons of Capital One Walmart Rewards Card

Pros

  • High Cashback Rewards on online purchases at Walmart in the first year.
  • Lack of caps on rewards at the highest rates.
  • Flexibility in Redemption
  • Travelling Perks.

Cons

  • High Cashback Rewards on online purchases at Walmart are short-lived.
  • No Introductory APR
  • No Free Shipping.

Full Review

Here are the full review about  Capital One Walmart Rewards Card .

Rates & Fees

TypesAmount ($)
Joining FeesNone
Annual FeesNone
Balance Transfer Fees3% of the total amount per transaction
Foreign Transaction FeesNil
Introductory APRNone
Regular APRVariable 17.99%-26.99%

Why might you want to go for Capital One Walmart Rewards Card?

(1). High Cashback Rewards on online purchases at Walmart App and Website

Capital One Walmart Rewards offers you a cashback of 5% per dollar spent at Walmart online stores throughout the first year of account opening. It’s your best bet to shop online on the website and app of Walmart, using Walmart-Pay, since it assures you a fabulous 5% Cashback.

Walmart is a multinational retail brand that sells you various goods and commodities that fulfil your daily demands. Having a lucrative cashback of 5% on each purchase gives you a good range of profit.

(2). Lack of Caps on High Cashback Rewards

Lack of Ciaos on high Cashback is another addition that is advantageous for many people. Since there is a lack of a cap on the Capital One Walmart Rewards’ effective 5% Cashback reward, other cards in the 5% and above range usually have a spending cap on how much Cashback you can earn using that specific card. For instance, Blue Cash Preferred has a cashback reward rate of 6% along with an annual cap of $6,000, which is an ample amount for the majority of people.

(3). Flexibility in Reward Redemption

One thing that’s better than earning cashback rewards is the ease and flexibility of the reward redemption. The Capital One Walmart Rewards offers you the comfort of putting your earnings into their excellent use. There isn’t any minimum stipulated amount for redemption, and you have plenty of choices for using your points.

These redemption modes include statement credits, gift cards, and various vouchers. It does not matter how you use your points, they will be worth each penny, and they won’t ever expire as long as your account is functional, with timely payments. You should note that Cashback is not a deposit to a check or savings account, even when you bank with Capital One.

(4). Travelling Perks

Capital One Walmart Rewards Card is a MasterCard, which means that you can use it globally. They do not charge you any foreign transaction fees. Moreover, you also get concierge services by Capital One, along with Trip Cancellation Insurance Plan.


Why might you want to go for a different Credit Card?

(1). The Cashback Rewards at Walmart are short-lived


The high five per cent cashback reward is applicable for the first year of account opening. Then onwards, the effective 2 per cent cashback reward is in effect whilst in-house shopping. However, the high five per cent cashback rate is still applicable to purchases made online (using the app or the web). If you shop at Walmart using the app or the web, your cashback reward will remain the same.

(2). Rewards on in-store shopping are limited.


Capital One Walmart Rewards as a co-branded card offers an in-store cashback rate of 2%, which is not so competitive as Discover It, which provides a consistent cashback of 5% on all expenses across all categories made up to $1,500 within each quarter.

(3). No Introductory APR

The Capital One Walmart Rewards Master Card does not offer you an introductory APR of 0%. That means that you will pay the regular APR of 16.99%-26.99%, which is one of the highest. On the other hand, its primary competitor Amazon Prime Rewards Visa Card charges you a relatively lower APR of 14.24%-22.24%. Most cards in the same segment do no offer you an introductory APR. But the high rate of the regular APR can be a disappointment for many people.


Best Alternative of Capital One Walmart Rewards Card

We analyzed Capital One Walmart Rewards Card with many credit card in the market, here are the best alternative of this card.

  1. Discover it® Cash Back Credit Card.
  2. Amazon Prime Rewards Visa Signature Card

Capital One Walmart Rewards Vs Discover it® Cash Back

Capital One Walmart Rewards enables you to earn a cashback reward of 5% on making online purchases using Walmart App and Walmart Website. On other purchases (including the ones at Walmart stores), you earn a cashback reward of 2%. On the other hand, Discover It enables you to achieve a cashback reward of 5% on expenses made up to $1,500 within each quarter. After that, an unlimited Cashback Reward of 1% is applicable.

Capital One Walmart Rewards Card has the upper hand due to unlimited 5% Cashback. In contrast, Discover It has a cap of $1,500, at which he can earn this cashback. Then onwards, a cashback of 1% is restricted. Another upper hand of Capital One Walmart Rewards Card is the welcome bonus of $50 (which might or might not be a great deal for many). You get a Welcome Bonus of $50 on making purchases worth $300.

On the other hand, Discover It has the upper hand and is well renowned for being one of the best Customer Services, if not the best. Another upper hand of Discover It comes in the form of introductory APR applicable for 14 months, as opposed to No introductory APR of Capital One Walmart Rewards. Moreover, the following year, the lower regular APR of 11.99%-22.99% is applicable, compared to 17.99%-26.99%.

Here is Quick Comparison of above Credit Card.

TypesCapital One Walmart Rewards CardDiscover it® Cash Back Credit Card
Welcome Bonus/Sign-up Bonus$50 on spending $300 on purchases in the first quarter of Account Opening.None
Cashback Rewards5% Cashback on Online purchases at Walmart website and app, 2% Cashback on Walmart Stores, Restaurants and other expenses.5% Cashback on purchases up to $1,500 made within the first three months of Account Opening, then 1% unlimited Cashback is Applicable.
Intro APRNil0% APR for 14 Months
Regular APRVariable 17.99%-26.99%Variable 11.99%-22.99%
Annual FeeNilNil
Foreign Transaction FeesNilNil

Capital One Walmart Rewards Card Vs Amazon Prime Rewards Visa Signature.

Capital One Walmart Rewards Card offers you 5% cashback on purchases made online at Walmart, using Walmart App or Walmart website. On the other hand, Amazon Prime Visa Signature Rewards offers you a Variable Cashback of 5% on purchases made at Amazon, 2% Cashback on purchases made at Drugstore, Grocery Stores, and Restaurants 1% Cashback Reward on all other purchases.

Capital One Walmart Rewards has the upper hand in terms of the worldwide presence due to a dedicated online shopping portal and a whopping total of around 10,000 physical stores across the globe. Moreover, additional perks like Warranty Extension and Purchase Protection and worldwide presence make this perk very feasible. No Annual Fee is another added advantage.

On the other hand, Amazon Prime Rewards has the upper hand due to a slightly higher welcome bonus of $100, compared to $50, offered by Capital One Walmart Rewards Card. Another upper hand of Amazon Prime Rewards Card charges you a lower regular APR of 14.24%-22.24%, compared to 17.99%-26.99% charged by Capital One Walmart Rewards.

Here is Quick Comparison of above Credit Card.

TypesCapital One Walmart Rewards CardAmazon Prime Rewards Visa Signature Card
Welcome Bonus/Sign-up Bonus$50 on spending $300 on purchases in the first quarter of Account Opening.Amazon Gift Card of $100
Cashback Rewards5% Cashback on Online purchases at Walmart website and app, 2% Cashback on Walmart Stores, Restaurants and other expenses.Variable cashback of 5% on Amazon, 2% on Dine-in, Drugstores &Gas Stations, 1% on all other purchases.
Intro APRNilNil
Regular APRVariable 17.99%-26.99%Variable 14.24%-22.24%
Annual FeeNil$0, Amazon Prime Membership Required
Foreign Transaction FeesNilNil

Bottom-Line: Is Capital One Walmart Rewards Card the best 5% Cashback Card?

Capital One Walmart Rewards Credit Card

If you frequently shop at Walmart's app and website, the Capital One Walmart Rewards Card is one of the best 5% Cashback Cards. The in-store cashback of 2% is decent but not good enough to be worth it if you shop physically at the Walmart Stores. However, it is a sound card that offers you all the MasterCard benefits, along with a worldwide presence.

Editor's Rating:
4.7

The Amazon Prime Rewards Visa Card is a sound card if you frequently shop at the Amazon app or website. It offers a similar cashback reward of 5% on Amazon, 2% on purchases at Drugstores, Grocery Stores, and Gas Stations, 1% cashback on all other purchases. If you frequently shop at Amazon, then it is the best card for you.

Discover It is a sound card if you prefer a 5% cashback card with low-cost maintenance since it has a cap of $1,500 on the 5% cashback earning, which can be a good deal for many people.


Frequently Asked Questions

Here are some of the Frequently Asked Questions about Capital One Walmart Rewards Card.

  1. What Credit Score do I need for approval for Capital One Walmart Rewards Card?

    A good to excellent credit score of (690 and above) is good enough for you to get approved for Capital One Walmart Rewards Card.

    However, it is worth noting that a good credit score is one major component required for approval for a credit card. But it is not the only component needed for credit card approval. You are also required to share your income, existing debt details, your financial statements.

  2. How to redeem Cashback Rewards using Capital One Walmart Rewards Card?

    You can redeem your Cashback Rewards in the form of Statement Credits, Gift Cards.

  3. Is Capital One Walmart Rewards Card a MasterCard or a Visa Card?

    Capital One Walmart Rewards is a MasterCard, which implies it has a worldwide acceptance. Moreover, it offers you MasterCard Elite Services (including the well-renowned Concierge Services).

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