Capital One Walmart Rewards Mastercard Review 2024

Capital One Walmart Rewards Mastercard Review

The Capital One Walmart Rewards MasterCard can be a highly beneficial cash-back card for you. Not only does it offer a generous Intro cashback offer of a 5% rewards rate on purchases made through Walmart.com and its app, including grocery pickup and delivery, but it also provides 2% back on restaurants and travel, as well as in-store purchases at Walmart Stores, Walmart & Murphy USA fuel stations.

However, keep in mind that this card’s biggest perk is for online purchases and may not be the best option if you primarily shop in-store. Consider other cards that offer a net 2% cash back on all spending if this is the case for you.

So, if you are an avid online shopper who also loves Walmart, this card could be the perfect fit for you. But if not, it may be worth looking into other options that can provide even greater rewards.

Quick Highlights

• Earn 5% cash back as an intro offer on all purchases made on Walmart.com, including pickup and delivery.
• Get 2% cash back on purchases at Walmart stores, Murphy USA, and Walmart fuel stations.
• Earn 2% cash back on restaurant and travel purchases.
• Enjoy 1% cash back on all other purchases made with your Mastercard.
• Introductory offer: Earn 5% cash back on in-store Walmart purchases for the first 12 months when using your card with Walmart Pay.
• Redeem your rewards for cash back, statement credits, and purchases on Walmart.com, travel, or gift cards.
• There is no annual fee to worry about.
• Rest easy with $0 Fraud Liability coverage for unauthorized charges.

 Capital One Walmart Rewards Mastercard Benefits

• Security Alerts: Receive timely notifications via text, email, or phone if there is any suspicious activity on your account.
• Capital One® Mobile App: Manage your account anytime, anywhere using the Capital One® Mobile App. Pay your bill, view your balance, and check transactions with ease.
• $0 Fraud Liability: Rest assured that you will not be held responsible for any unauthorized charges if your card is lost or stolen.
• Card Lock: With just a few taps on the Capital One® Mobile App, effortlessly lock your card if it has been misplaced, lost, or stolen.
• Price Protection: If you find an eligible item at a lower price within 120 days of purchase, you can get reimbursed for the price difference, up to $250. You can make a maximum of four claims per year.
• Extended Warranty: Enjoy an additional two years of coverage on existing warranties of two years or less, with a limit of up to $10,000 for repair or replacement of the item.
• Cellphone Insurance: World Elite version cardholders receive coverage of up to $600 per eligible claim and $1,000 per 12-month period for cellphone damages or theft. Each claim is subject to a USD 50 deductible, with a limit of two claims per 12-month period.
• Auto Rental Insurance Coverage: When you pay for your entire rental purchase with your Capital One Walmart card or decline coverage at the rental counter, receive secondary coverage for damages or theft to your rental vehicle.
• Concierge Service: Take advantage of the complimentary concierge service provided by Capital One. Whether you need help choosing a restaurant in an unfamiliar city, booking event tickets, or making travel reservations, a dedicated concierge will assist you at no extra cost.
• Trip Cancellation/Interruption Insurance: In case of trip cancellations or interruptions for covered reasons, such as a medical issue, you can receive up to $1,500 in reimbursement for common carrier charges. So travel with peace of mind, knowing that your trip is protected.

 Rates and Fees

• Regular APR: 19.48% or 29.99% (Variable)
• Annual fee: None
• Balance transfer fee: $0 at the Transfer APR, 3% of the amount of each transferred balance that posts to your account at a promotional APR that Capital One may offer to you
• Cash advance fee: 3 percent of the amount of the cash advance, but not less than $3
• Late payment fee: Up to $39
• Balance Transfer APR: Not available

Capital One Walmart Rewards Card Rewards

The Capital One Walmart Credit Card earns rewards at the following rates: 5% back on Walmart.com and in the Walmart app, including grocery pickup and delivery, 2% on restaurants and travel, and at Walmart Stores, Walmart & Murphy USA fuel stations, and 1% back everywhere else.

The further rewards breakout are:

• Earn 5% cash back on all purchases made through Walmart.com, including pickup and delivery.
• Get 2% cash back on purchases at Walmart stores, Murphy USA, and Walmart fuel stations.
• Receive 2% cash back on all restaurant and travel purchases.
• Earn 1% cash back on all other purchases anywhere Mastercard is accepted.

How to Earn Rewards

To earn rewards with the Capital One Walmart Rewards Card, simply use your card for purchases at eligible locations. This includes online purchases through the Walmart app, in-store purchases at Walmart, and fuel purchases at Walmart-owned stations. After the first year, in-store purchases will earn 2% cash back instead of 5%.

1. Using Walmart Pay

By connecting your card to Walmart Pay, you can earn 5% cash back on in-store purchases for the first 12 months. After that period, you will earn 2% cash back on those purchases.

2. Rewards Potential

To estimate the reward potential of this card, we use data from various government agencies to determine income and spending averages. Assuming a household with an annual income of $116,000, we estimate that this household could earn up to $753.24 in cash-back rewards per year with the Capital One Walmart Rewards Card. This includes 5% cash back on groceries, 2% on restaurants and travel, and 2% on fuel purchases at Walmart-owned stations. The additional spending would earn 1% cash back.

3. Redeeming Rewards

The rewards earned with the Capital One Walmart Rewards Card can be redeemed in several ways, including as a statement credit, during online checkout at Walmart.com, or through Walmart Pay. The value of the rewards is the same regardless of how they are redeemed.

Application and Approvals of Capital One Walmart Rewards Mastercard

Application and Approvals 

Capital One handles the application and approval process for the Capital One Walmart Rewards Mastercard. You can typically apply in a few ways:

• Capital One’s Website: Head to Capital One’s website and navigate to the Capital One Walmart Rewards Mastercard page. There, you’ll find an application form to fill out and apply.
• Pre-approval Tool: Capital One offers a pre-approval tool that lets you see if you’re pre-qualified for the card without impacting your credit score. This can be a good way to gauge your chances of approval before submitting a formal application.

Eligibility Criteria

Unfortunately, Capital One doesn’t publicly disclose the exact credit score requirement for the Capital One Walmart Rewards Mastercard. However, based on general credit card requirements, you’ll likely need a good to excellent credit score, which typically falls around 670 or higher, according to FICO.

Beyond a good credit score, there are likely other standard eligibility requirements, such as:

• Being 18 years or older (or the legal age of majority in your state of residence).
• Having a valid Social Security number or individual taxpayer identification number.
• Having a U.S. mailing address and residential address (if different).
• Meeting Capital One’s income requirements.
• A minimum credit score of 580 or higher is mandatory for the approval
• A good to excellent (670–850) FICO credit score is best for approval.

Is the Capital One Walmart Rewards Card for You?

If you regularly spend money at Walmart, especially online, then there is no other card that can offer better cash-back rewards on your purchases from this particular retailer. However, if you want to earn 2% cash back on all of your purchases—not just those made at Walmart—then there are other cards available that can match or even beat this card’s earning rates in its other bonus categories. Ultimately, the best choice for you will depend on your spending habits and how many credit cards you want to manage. While the Walmart card could be a great addition to your wallet, it may be worth considering a better-rounded card instead.

Customer Service

•  Helpline Number: (877) 860-1250
•  Official Website:  Capital One

Conclusion

The Capital One Walmart Rewards Mastercard caters to a specific audience: online Walmart shoppers. If you frequently purchase groceries, home goods, or anything else through Walmart.com or the app, this card offers a compelling 5% cash-back rate.

However, if you primarily shop at physical Walmart locations, the rewards become less exciting after the first year’s introductory offer. In that scenario, a card with a flat, category-agnostic cash-back rate might be a more suitable choice.

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