Credit cards that link with global bank retailers are an excellent choice among the numerous credit card options, and this is true if you shop at least once a week.
Walmart is a household name and, if you are a US citizen, you have almost certainly visited at least once. As a result, it’s not surprising that this retailer partnered with Capital One to offer a Mastercard Credit Card that may be used in Walmart stores and anywhere else.
Learn more about the Walmart Rewards Mastercard Credit Card’s benefits, perks, fees, and charges. Check how to apply for a Walmart Rewards Mastercard Credit Card.
- What Is the Capital One Walmart Rewards Mastercard Credit Card?
- What Are the Reward Features of the Walmart Rewards Mastercard?
- What Are the Fees and Charges of the Walmart Rewards Mastercard?
- How Do You Redeem Rewards from the Walmart Rewards Mastercard?
- What Are the Eligibility Requirements for the Walmart Rewards Mastercard?
- How Do You Apply for a Walmart Rewards Mastercard Credit Card?
What Is the Capital One Walmart Rewards Mastercard Credit Card?
Walmart serves as a hypermarket, discount department store, and grocery store with approximately 10,000 locations in 24 countries. Meanwhile, Capital One is a major bank with 750 cafe-style branches in the US. Wuto loans, credit cards, savings accounts, and banking are its specialties.
In an unexpected move, the two huge corporations joined together to create a product and service that would considerably benefit their clients. This rewards card tremendously helps people as Capital One customers and Walmart loyalists.
The Capital One Walmart Rewards Mastercard Credit Card strives to reward its loyal consumers by providing rewards and discounts on all purchases. The Capital One Walmart Rewards Mastercard is an excellent choice for those who frequently shop at Walmart.
What Is the Walmart Rewards Mastercard Welcome Bonus?
The Walmart Rewards Mastercard offers a bonus for signing up upon approval of the card. Once you get the Walmart Rewards Mastercard, utilize the Walmart Pay for in-store purchases to get the welcome bonus. You can earn up to 5% cashback on your total purchases if you use Walmart Pay in stores.
However, the welcome or introductory bonus only lasts for one year. It is still a great deal because you can make the most of your purchases at Walmart stores for a whole year. After a year, you are only entitled to get 2% cashback when you make in-store purchases with the Walmart Rewards Mastercard.
What Are the Reward Features of the Walmart Rewards Mastercard?
Although the superstore is already known for its everyday low prices, paying with the Walmart Rewards Mastercard credit card will save you even more. The Walmart Rewards Mastercard credit card is designed for Walmart loyal customers to earn rewards and get cashback.
By default, the Walmart Rewards Mastercard credit card boasts 5% cashback offers to all cardholders when they purchase on Walmart.com or the Walmart app, including grocery pickup and delivery services.
Moreover, the Walmart Rewards Mastercard credit card gives 2% cash back on restaurants and travel. When you purchase or do groceries at Walmart Stores and Walmart & Murphy USA Fuel Stations, you will also be granted a 2% cashback.
Lastly, the Walmart Rewards Mastercard credit card grants a benefit wherein customers will have a 1% cash back for purchases made everywhere else Mastercard is accepted.
What Is the Walmart Rewards Mastercard Rewards Potential?
Capital One and Walmart present the Capital One Walmart Rewards Card’s reward potential in detail. Statistics on a family’s projected grocery consumption can help you understand how much you can make from the Walmart Rewards Mastercard’s cashback incentives.
For example, if you spend $6,000 on groceries over a year, you might receive up to $300 in cashback rewards with the Capital One Walmart Rewards Mastercard. It provided further instances and data to support its point, particularly when combining grocery, restaurant, travel, and gas rewards.
Check the official website for the Walmart Rewards Mastercard to estimate your annual cashback rewards to be earned based on your usual spending.
What Are the Fees and Charges of the Walmart Rewards Mastercard?
There are advantages and disadvantages to the Capital One Walmart Rewards Mastercard Credit Card that must be considered before making a decision. Weigh the costs and benefits of the card first. The Capital One Walmart Rewards Mastercard Credit Card’s fees are as follows.
- Annual Fee: $0
- Annual Percentage Rate (APR): 17.99 to 26.99% variable
- APR for Transfers: 17.99 to 26.99% variable
- APR for Cash Advances: 26.99%
- Purchase Intro Annual Percentage Rate: None
- Balance Transfer Intro Annual Percentage Rate: N/A
- Balance Transfer Fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR offered
- Purchase Interest Rate: 17.99 to 26.99% variable
- Cash Advance: Either $10 or 3% of the amount of each cash advance, whichever is greater
- Foreign Purchase Transaction Fee: $0
- Late Payment: up to $39
The Walmart Rewards Mastercard credit card is known for its relatively low APR, making it a great option for those who make daily purchases like groceries.
What Is Capital One Mobile?
Capital One Walmart Rewards Mastercard credit card customers can manage their accounts on the bank’s official app—Capital One Mobile. Cardholders can check and monitor transaction history and balance through the app.
Capital One Mobile also has an account alerts feature that keeps users informed about their accounts. Users will receive transactions, activity, due dates, and other app notifications here. Capital One Mobile alerts subscribers via email or push notifications. Users can choose which activities or transactions trigger alerts.
Mobile bank users will also be notified when their credit is below a specific amount, there is a transaction outside the US, a payment due, a payment scheduled or posted, a payment two days late, and a purchase beyond a specified amount. Users can set the purchase limit using these options. Account alerts assist in preventing fraud.
How Do You Redeem Rewards From the Walmart Rewards Mastercard?
All the rewards points do not have an expiration. So, you can collect as many points that you want before claiming them in various forms. The bank and the department store chain offer four options on how cardholders can redeem their rewards.
Cardholders can redeem their rewards for cash, cover a purchase, exchange them for gift cards, or redeem them for travel. The first option is best if you want actual cash out of the collected rewards. Either a check will be mailed to you, or you can have the rewards applied to your account as a credit.
The second one will let you make a purchase with your Capital One Walmart Rewards Mastercard and apply your rewards toward that or any other purchase. You can also redeem gift cards from Walmart or other retailers.
Lastly, you can collect points to pay for your travel, including accommodations or flight expenses.
What Are the Other Benefits of the Walmart Rewards Mastercard?
The Walmart Rewards Mastercard guarantees you price protection, which allows you to receive a reimbursement for the price difference, up to a maximum of $250. There is a limit of four claims per calendar year.
There is also the extended warranty to cover up to an extra two years on a warranty already two years or less and up to $10,000 to fix or replace the item. Moreover, you can get access to the best concerts, sporting events, and restaurants worldwide with your Premier Access membership.
What Are the Eligibility Requirements for the Walmart Rewards Mastercard?
Before applying for a Capital One Walmart Rewards Mastercard Credit card, you should ensure you are eligible. The first rule is that you have to be at least 18 years old. Along with that, you must also give your Social Security Number and a US mailing address.
It is a requirement that you must be a US resident or have a permanent address in the country. You should look at your credit reports and keep them open because it is common for the approval committee to ask for a few more days to check if you are eligible.
Capital One will check your credit history to assess if you have a bad credit record. However, some reports mentioned that having a Fair credit score (650 – 699) will grant you a higher chance of approval.
How Do You Check Pre-Approval for the Walmart Rewards Mastercard?
Capital One advises interested individuals to check if they are pre-approved for the Walmart Rewards Mastercard on its official website.
The checker will ask you for your personal information, including your name, birthday, contact details, and address. Moreover, the online checker will ask you about your bank accounts, employment status, total annual income, and monthly rent or mortgage.
How Do You Apply for a Walmart Rewards Mastercard Credit Card?
The Walmart Rewards Mastercard Credit Card application is very easy to complete. The first way to apply is to go to the store closest to you, bring all the necessary paperwork, and get the result immediately.
The second option is to fill out an online application form on the official website, which is another way to show that you meet all the requirements. If you are approved for the Walmart Rewards Mastercard Credit Card, you should get it within a couple of business days.
Capital One mentioned that if an individual is denied the Walmart Rewards Mastercard Credit Card, it automatically signs them up for the Walmart Rewards card, a regular card that has relatively good benefits and features still.
How Can You Contact Capital One Bank?
Walmart and Capital One work together on this Mastercard Credit Card. So, if you have questions about the application, fees, or charges, you should send them to Capital One. There are a few ways to get in touch with the bank.
- Phone: 1-800-227-4825
- Twitter: @AskCapitalOne
- Mailling Address: Capital One, General Correspondence, P.O. Box 30285, Salt Lake City, UT 84130-0287
Summary
If you shop at Walmart often, the Walmart Rewards Mastercard credit card can save you a lot of money. This Mastercard is worth looking into because it gives you 5% cash back and has a reasonable interest rate.
Disclaimer: There are risks involved when applying for and using Capital One Walmart Rewards Mastercard credit products. Consult its Terms and Conditions page before agreeing to anything.
