Is the Capital One Walmart Rewards card 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.
Learn more about the Capital One Walmart Rewards Mastercard
Capital One Walmart Rewards® card 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:
- 5% cash back on Walmart.com and via the Walmart app
- 2% cash back on travel and restaurants
- 2% cash back at Walmart stores as well as Walmart & Murphy USA fuel stations
- 1% cash back everywhere else
Note that 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® card benefits & perks
While cash back is always fun, the list of Walmart credit card benefits goes far beyond amassing some extra cash.
Capital One Walmart Rewards® travel benefits
When you purchase travel using your Walmart card, you’re eligible for the following perks and protections.
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Trip cancellation/interruption insurance: Rest easy as you travel, with travel insurance that offers up to $1,500 back if your plans change due to a covered reason.
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Rental car insurance: Enjoy supplement insurance for your rental car with car protection that covers damage and theft.
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Concierge service: Capital One concierges help cardholders plan a getaway, find a great restaurant while on the road and book tickets for popular events.
Shop with your Capital One Walmart card and the company will extend extra benefits to protect you and your purchases.
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Price protection: Purchase something with your Capital One Walmart card, and you may be eligible for reimbursement if that item drops in price within 120 days. Claims are maxed at $250 per claim and four claims per year.
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Extended warranty: Add up to two years on existing manufacturer warranties of less than two years, covering up to $10,000 to fix or replace an eligible item.
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0% fraud liability: With full fraud coverage, you won’t be on the hook for unauthorized charges made using your Capital One Walmart Rewards card.
Capital One Walmart Rewards® card 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.
Capital One Walmart Rewards® card fees
As with all credit cards, the Capital One Walmart card does come with some fees.
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Annual fee: $0
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Balance transfer fee: 3% of the amount transferred
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Cash advance fee: 3% or $3, whichever is greater
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Foreign transaction fee: $0
Capital One Walmart Rewards® card interest rates
The Walmart credit card also has interest rates to know about.
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Regular APR: 19.48% or 29.99% variable APR
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Purchase intro APR: Not offered
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Balance transfer intro APR: 19.48% or 29.99% variable APR
Capital One Walmart Rewards® card 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® card compares
Let’s see how this card stacks up against some other cash-back credit cards.
Capital One Walmart Rewards card 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:
- 5% cash back on purchases at Amazon.com, through Amazon Fresh and at Whole Foods Market
- 5% cash back on Chase Travel purchases
- 2% cash back at gas stations and restaurants
- 2% cash back for rideshare and local transit purchases
- 1% cash back for everything else
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 card 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.
Read our Amex Blue Cash Preferred Card review
Is the Capital One Walmart Rewards® card 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® card?
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.
