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Capital One Walmart Rewards Mastercard review: Earn up to 5% cash back when shopping at Walmart

Updated 6 min read

Editor's note: Capital One and Walmart ended their exclusive agreement in May 2024, and this card is no longer accepting new applicants. Existing cardholders will be transitioned to a Capital One Quicksilver Mastercard.

Walmart is a popular store for people who want good value without spending a lot of money. Its everyday low prices help consumers stretch their budget when buying groceries, household items, gas, and more.

The Capital One Walmart Rewards? Mastercard? provides even more opportunities to maximize your spending with cash-back rewards of up to 5% on your purchase without paying an annual fee. Learn more about the Walmart Mastercard, including how to earn and redeem rewards, who it’s best for, and alternative credit cards to consider.

Annual fee: $0

Welcome offer: Earn 5% cash back in Walmart stores for the first 12 months when paying with your card using Walmart Pay

Rewards:

  • 5% cash back at Walmart.com

  • 2% cash back in Walmart stores and fuel stations, at restaurants, and on travel purchases

  • 1% on everything else

The Capital One Walmart Rewards credit card charges a variable APR on purchases and quick cash transactions of 19.48% or 29.99%, depending on your creditworthiness. When you pay off your balance in full each month, you’ll have a grace period of at least 25 days from your statement closing date before interest begins accruing.

Balance transfers also carry an interest rate of 19.48% or 29.99% variable APR. If you request a balance transfer, the fees are waived when the standard balance transfer APR applies. Occasionally, this card may be eligible for a promotional APR on balance transfers. When a transfer is eligible for a promo APR, there is a balance transfer fee of 3% of the transaction amount.

Cardholders can access the Walmart credit card for cash advances. These transactions have a variable APR of 29.99%, and interest charges start accruing immediately. Additionally, there is a cash advance fee of 3% of the transaction amount (minimum $3).

The Capital One Walmart Rewards Mastercard comes with a $0 annual fee. Without that cost, the Walmart credit card is a card you can keep year after year to build a credit history, even if you don’t use it regularly.

This credit card does not have a traditional welcome bonus offer. Instead, you’ll receive 5% cash-back rewards on in-store Walmart purchases during the first 12 months after opening your account.

This card doesn’t include an intro APR offer on purchases or balance transfers.

  • 5% cash back at Walmart.com, including pickup and delivery

  • 2% cash back in Walmart stores and fuel stations

  • 2% cash back at restaurants

  • 2% cash back on travel

  • 1% cash back on all other purchases

Whether you’re shopping online or in-store, you’ll earn bonus cash back on Walmart purchases. To earn the highest cash-back rate of 5%, you must order online at Walmart.com. You can have your purchases delivered or pick them up at your local store.

When shopping in person, you’ll earn 2% cash back at Walmart stores and fuel stations.

For the first 12 months after opening your account, your cash-back rewards on in-store purchases are increased to 5%. To earn this bonus cash back, link your card to the Walmart Pay app and use the app to pay at checkout.

While this limited-time offer isn’t a traditional bonus offer, the amount of bonus cash back you’ll earn depends on how much you spend at Walmart stores. There is no cap on earnings, and you don’t have to register ahead of time.

In addition to earning bonus cash back on Walmart purchases, you’ll also earn 2% cash back at restaurants and on travel purchases. These bonus categories allow you to earn extra cash back when dining out or booking flights, hotels, rental cars, and other travel reservations.

You’ll earn an unlimited 1% cash back on all other purchases. This allows you to continue earning rewards on your spending that doesn’t qualify for bonus cash back.

The cash-back rewards earned with the Capital One Walmart Rewards Mastercard can be redeemed in multiple ways. Rewards don’t expire for as long as the card remains open and in good standing.

  • Redeem for cash. Get a check mailed to your home or receive a statement credit to reduce your balance. Keep in mind that statement credits don’t cover your monthly minimum payment.

  • Use at checkout. When shopping at Walmart.com, you can redeem cash-back rewards to cover some or all of your purchases.

  • Buy gift cards. Redeem rewards for gift cards to Walmart and other popular retailers.

  • Book travel. Book flights, hotels, and more through the Capital One travel portal and use your cash back to pay for some or all of your trip.

This card doesn’t include additional perks and benefits that many competing credit cards offer. Benefits like purchase protection or extended warranty coverage that cover your purchases against unexpected problems are missing from the Walmart Rewards Mastercard.

The Walmart Rewards Mastercard is an ideal credit card for people who frequently shop at Walmart. It allows them to earn cash-back rewards on online or in-store purchases without spending caps or quarterly promotions. Cardholders can maximize cash back rewards by shopping online to pick up purchases at the store or have them delivered.

  • Earns up to 5% cash back without spending caps

  • No annual fee

  • Intro offer earns elevated cash back on in-store purchases

  • Card is instantly available to make purchases within the Walmart app

  • In-store purchases at Walmart don’t qualify for the highest rewards

  • Doesn’t include a traditional welcome bonus

  • Lack valuable perks, like purchase protection or extended warranty coverage

Customers can use the Capital One Walmart Rewards credit card anywhere Mastercard is accepted. Mastercard is one of the most widely accepted credit cards globally, so it’s an excellent choice to make purchases in the U.S. or abroad. Like other Capital One credit cards, the Walmart Rewards Mastercard does not charge foreign transaction fees, so you won't be charged hidden fees when making purchases outside the U.S.

With its Walmart branding, this card is best suited for Walmart purchases online and in-store. Additionally, you’ll earn bonus cash back when buying fuel at Walmart, at restaurants, and on travel.

The Capital One Walmart Rewards credit card is an excellent choice for people who shop at Walmart for groceries, household items, or gas. But if you want to earn bonus rewards in these categories outside of Walmart, here are some other options.

 

  • Annual fee
    $325
  • Welcome offer
    Earn 60,000 Membership Rewards? points after you spend $6,000 on eligible purchases in the first 6 months, plus 20% back on restaurant spending worldwide (up to $100 in statement credits) for new cardmembers through November 6, 2024
  • Card type(s)
    Travel, Rewards
  • Ongoing Purchases APR
    See Pay Over Time APR
  • Recommended credit score
    Excellent/Good
  • Rewards rate
    • 4x Membership Rewards Points at restaurants worldwide (on up to $50,000 per calendar year in purchases, then 1x)
    • 4x Membership Rewards points at U.S. supermarkets (on up to $25,000 per calendar year in purchases, then 1x)
    • 3x Membership Rewards points on flights booked directly with airlines or on AmexTravel.com
    • 2x Membership Rewards points on prepaid hotels and other eligible purchases booked on AmexTravel.com
    • 1x Membership Rewards points on all other eligible purchases
  • Benefits
    • NEW: Five Guys is now eligible for $120 Dining Credit. Earn up to $10 in statement credits each month when you pay with your American Express Gold Card at Five Guys, Grubhub, The Cheesecake Factory, Goldbelly, and Wine.com (enrollment required)
    • NEW: Up to $100 in annual statement credits ($50 semi-annually) when you use your American Express Gold Card on eligible purchases at U.S. restaurants on the Resy app or Resy.com
    • NEW: Up to $84 per year ($7/month) in statement credits after using your American Express Gold Card to pay at more than 9,000 Dunkin’? locations nationwide

Why we like it: With the Amex Gold Card, points can be used to get cash back, book travel, buy gift cards, and more. However, their highest value tends to come when transferring to airline and hotel partners.

  • Annual fee
    $0
  • Welcome offer
    Earn $200 cash back after spending $500 on purchases in the first 3 months
  • Card type(s)
    Cash-back, Rewards
  • Purchase APR
    19.99% - 29.99% variable
  • Introductory APR
    0% intro APR on purchases and balance transfers for 15 months, then variable 19.99% - 29.99% APR
  • Recommended credit score
    Good, Excellent
  • Rewards rate
    • 8% cash back on Capital One Entertainment purchases
    • 5% cash back on hotels and rental cars booked through Capital One Travel
    • 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart and Target)
    • 1% cash back on all other purchases
  • Benefits
    • Get a 0% APR on purchases and balance transfers for the first 15 months
    • Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024

Why we like it: The Capital One SavorOne Card is the ideal card for people who want to earn rewards on groceries at any supermarket without paying an annual fee. It earns an unlimited 3% cash back on groceries, dining, entertainment, and streaming services without spending caps. You can also earn 5% cash back when booking travel through Capital One Travel.

If you need extra time to pay off your purchases or existing debt, the card includes a 0% intro APR offer on purchases and balance transfers for 15 months. For a limited time, it also includes 10% cash back on Uber purchases and a complimentary Uber One membership through November 14, 2024.

  • Annual fee
    $0 intro annual fee for the first year, then $95.
  • Welcome offer
    Earn a $250 statement credit after spending $3,000 in eligible purchases in the first 6 months
  • Card type(s)
    Cash-back, Rewards
  • Introductory Balance Transfer APR
    0% on balance transfers for 12 months
  • Ongoing Balance Transfer APR
    19.24% - 29.99% Variable
  • Introductory Purchases APR
    0% on purchases for 12 months
  • Ongoing Purchases APR
    19.24% - 29.99% Variable
  • Recommended credit score
    Excellent,Good
  • Rewards rate
    • 6% cash back at U.S. supermarkets (on up to $6,000 in purchases annually, then earn 1%)
    • 6% cash back on select U.S. streaming subscriptions
    • 3% cash back on transit and U.S. gas stations
    • 1% cash back on all other purchases
    • Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout
  • Benefits
    • Get a 0% APR on purchases and balance transfers for the first 12 months
    • Receive a monthly statement credit of $7 when you spend $9.99 or more each month on an auto-renewing Disney Bundle subscription (valid only at Disney Plus.com, Hulu.com or Plus.espn.com in the U.S.)
    • Get a $0 annual fee for the first year, then $95 annually after that

Why we like it: People who use their credit card frequently will love the American Express EveryDay Preferred credit card. Not only will you earn 3x points on U.S. supermarket purchases (up to $6,000 per year), 2x at U.S. gas stations, and 1x on everything else, but you'll also get a 50% bonus each month you use the card at least 30 times.

While this card has a $95 annual fee, and it earns flexible points that can be redeemed for cash back, travel, gift cards, online shopping, and more. They also transfer to Amex's airline and hotel partners to book award travel.

This article was edited by Alicia Hahn

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