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Capital One Walmart Rewards Mastercard: Earn 5% Back at Walmart.com

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The Capital One Walmart Rewards® Mastercard®* is the retailer’s rare credit card that lets you earn cash instead of store credit, though it favors shopping online at Walmart.com over shopping at the store.

Despite the preference for online purchases, the Walmart Mastercard offers a few additional reward categories for everyday spending outside of Walmart, such as restaurant purchases and travel – although other credit cards may offer more competitive rates . Still, if you wanted to keep the card for strictly Walmart purchases, that the credit card has no annual fee so you can easily earn up to 5% back at Walmart.

Capital One Walmart Rewards® Mastercard®

Introductory offerIntroductory Offer: Earn 5% cash back on your purchases at Walmart® stores for the first 12 months when you use your card with Walmart Pay

APR17.99% – 27.74% (Variable)

Intro Purchase APRN / A

Recommended credit Average, Fair, Good, Excellent

Reward rate

  • Earn 5% cash back on Walmart.com purchases, including pickup and delivery
  • Earn 2% cash back on your purchases at Walmart® stores, Murphy USA and Walmart® gas stations
  • 2% cash back on restaurants and travel purchases
  • 1% cash back on all other purchases everywhere else Mastercard® is accepted

Annual fees$0

APR balance transfer17.99% – 27.74% (Variable)

Balance Transfer Fee $0

Foreign transaction fees None

  • Earn 5% cash back on Walmart.com purchases, including pickup and delivery
  • Earn 2% cash back on your purchases at Walmart® stores, Murphy USA and Walmart® gas stations
  • 2% cash back on restaurants and travel purchases
  • 1% cash back on all other purchases everywhere else Mastercard® is accepted

Awards

The Capital One Walmart Card earns 5% cash back at Walmart.com, including pickup and delivery, and generally 2% cash back at Walmart stores. However, for the first year, you can earn 5% at Walmart stores if you use Walmart Pay, the digital wallet app, to make your purchases. Outside of Walmart, you’ll earn 2% cash back at restaurants and while traveling, and 1% cash back on other purchases.

5% is an excellent rate for general rewards credit cards, but the brand’s standard rate for retailer credit cards. So for online purchases at Walmart, this card is competitive — or if you’re ready to use Walmart Pay in-store for the first year. For travel and meals, you can find other cash back credit cards no annual fees that offer higher rates.

Redemption of rewards

The cash back you earn will actually show up in your account as reward points. There are several ways to redeem your Capital One rewards. When you log into your account online through Capital One’s website or mobile app, you can view the number of reward points you’ve earned by clicking “View Rewards”. Note that your balance will be displayed in points, with each point equaling one penny. So 1,000 points equals $10.

Once in the rewards section, you will have the choice to redeem your points as a statement credit, check, gift card or refund of recent purchases. Refund is similar to statement credit, except refunded purchases will not count towards your statement balance at the end of the month.

You can also redeem your points for travel through the Capital One Travel Portal.

Potential disadvantages

With no annual fee and a simple cash back program, there aren’t too many downsides. If you have lots of different credit cards for different stores and spending categories, make sure you have a good management system in place so you never miss a monthly payment.

The APR is quite high at 17.99% to 27.74% variable, so it is especially important to pay your balance in full each month to avoid interest charges.

Alternate Maps

Bank of America® Custom Cash Rewards Credit Card

The Bank of America Customized Cash Rewards credit card earns 3% cash back in the category of your choice (plus 2% cash back at grocery stores and wholesale clubs). You’ll earn 3% and 2% Cash Back on the first $2,500 of combined purchases in the Choice/Grocery/Wholesale Club category each quarter, then 1%. The 3% categories available are online shopping, gas, restaurants, travel, pharmacies or home improvement stores.

Walmart is considered a “supermarket” and therefore will not be covered by the 2% category, but if you choose online shopping for your 3% category, you will get 3% back on Walmart.com and other places where you shop online (excluding non-retail services such as utilities, insurance, membership organizations and schools).

See our opinion on the Personalized Bank of America Cash Rewards Card for more information.

Wells Fargo Active Cash® Card

The Wells Fargo Active Cash® Card offers unlimited 2% cash rewards on purchases – one of the best fixed rate cards you’ll find. Although 2% is significantly less than the 5% cashback you’d get on Walmart.com with the Walmart Mastercard, the flexibility makes the Active Cash credit card a must-have for your wallet.

For a welcome bonus, you can also earn a $200 cash rewards bonus after spending $1,000 on purchases in the first 3 months. You can also take advantage of the introductory APR to avoid interest charges.

For more details see our Wells Fargo Active Charge Card Review.

FAQs

What is the difference between the Capital One Walmart Mastercard and the Walmart Rewards Card?

It’s important to note that this article is about the Capital One Walmart Mastercard, not the Walmart Rewards card. If your application for the Capital One Walmart Mastercard is not approved, you will automatically be considered for the Walmart Rewards®* Card, a “private label” card that can only be used at Walmart properties (including gas stations Murphy USA).

The Capital One Walmart Mastercard can be used anywhere Mastercard is accepted.

Walmart Pay is a mobile wallet that allows customers to pay with their phone. To use Walmart Pay, download the Walmart app and link your credit card. Then, at checkout, go to Walmart Pay, enter your unique security PIN or biometric information, and hold your phone over the kiosk PIN pad.

*All information about the Walmart Capital One Rewards Card and Walmart Rewards Card has been independently collected by CNET and has not been reviewed by the issuer.

Editorial content on this page is based solely on objective, independent assessments by our editors and is not influenced by advertising or partnerships. It was not supplied or commissioned by a third party. However, we may receive compensation when you click on links to products or services offered by our partners.

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