Who does not love shopping from Walmart? Absolutely no one. Whether you want decor accessories for your patio or new mascara, you can find everything there.
When Sam Walton founded the first Walmart store in 1962, no one could have imagined it becoming the world’s largest retailer, generating more than $480 million in revenue annually.
Walmart stores have a huge variety of almost everything from clothing to electronics, tools, and makeup.
Whenever people visit Walmart, they wish they could have a little more credit to buy everything they like.
By introducing their credit cards, Walmart has indeed turned every frequent shopper’s dream into reality.
With a Walmart credit card, you can purchase as many things as you like at Walmart stores and return the amount later when your salary arrives.
Also, the Walmart credit card might help you maximize your savings by offering you various bonuses and rewards.
It is undoubtedly a fantastic option for those who cannot stop themselves from shopping at Walmart stores.
This credit card allows them to purchase all necessary items and access Walmart discount codes or bonus rewards. Are you interested in knowing more about Walmart credit cards? Keep reading!
What is a Walmart Credit Card?
There is something about Walmart that people cannot stop themselves from shopping. They head to the nearby Walmart store to purchase two or three items but leave with dozens of items.
It happens because there is a huge variety of everything at Walmart. You will find everything in many types and sizes: makeup, cheese, or clothes.
However, often people are short on credit. That’s why they have to leave their favorite items in the carts.
To minimize the number of abandoned carts, Walmart has introduced a credit card for its frequent shoppers. With Walmart’s credit card, they can shop anything anytime they want.
Besides convenience, Walmart’s credit card offers a vast range of bonuses and cashback rewards, making Walmart purchases more economical for people.
Unlike other credit cards, Walmart’s credit card comes with no annual charges.
Therefore, it is a great option for people who love buying groceries, makeup, clothes, and appliances from Walmart.
How Does the Walmart Credit Card Work?
It can only be used at Walmart stores which include Walmart stores, the Walmart website, the Walmart app, and gas stations associated with Walmart.
Whether you want to make Walmart purchases at the store or online, you can pay for them with a Walmart credit card.
Also, with this credit card, you can buy fuel for your car from any Murphy gas station at a discounted price. It is a great option for those living near Murphy gas station ( they do not exist in every state).
Regarding rewards, the handy Walmart credit card offers a decent amount of cash back on purchases made through it.
For example, online shoppers will get 3% cash back on Walmart purchases, whereas cardholders can get 2% cash back on gas purchased at Walmart or Murphy gas stations.
Types of Walmart Credit Cards
Walmart offers customers two types of credit cards depending on their credit score – Capital One Walmart Rewards Master Card and Walmart Rewards Card.
The Walmart Capital one credit card is an open-loop card that can be used anywhere its network is accepted.
However, the Walmart Rewards card can only be used at Walmart properties and companies associated with it.
The Walmart Rewards card offers basic features but has a much lower interest rate than the capital one. However, you can buy anything from anywhere with a Capital One credit card.
Key Features of Walmart Credit Cards
Here are a few of the major features of the Walmart credit cards:
Generous reward rate
Walmart Rewards credit card offers a great amount of cashback reward on purchases made through it, such as:
- 3% back on purchases at Walmart.com and items purchased through Walmart app.
- 2% back on in-store purchases as well as gas purchases at any of Walmart or Murphy gas stations
- 1% back on all other purchases (other Walmart memberships)
Similarly, Capital One Walmart Rewards credit card offers a great amount of cash back on purchases made through it, such as:
- 5% back on purchases at Walmart.com and items purchased through Walmart app.
- 2% back on in-store purchases, at restaurants, and on travel
- 1% back on all other purchases (anywhere the card is accepted)
Unlike others, Walmart’s Rewards credit card offers a signup bonus, which helps you earn a $25 credit if you purchase $75 or more with your card the day it gets approved.
While it might not be a huge bonus, it is a great option for frequent shoppers to save a little money on their Walmart purchases.
Also, you will be able to get 5% cashback on all in-store purchases for the first 12 months of approval.
After one year, you will get 2% of cash back on in-store purchases. However, the Capital One Walmart Rewards credit card does not come up with any signup bonus, but it does offer 5% cash back on all purchases for the first 12 months of card approval.
No annual charges
Many credit cards come with hefty annual charges. However, Walmart’s credit cards come with no annual charges.
Therefore, they are a great option for people looking for low-maintenance credit cards. With these credit cards, you will still get a cashback on your purchases, but you will not have to pay annual charges for the privilege.
No foreign transaction fee
Both Walmart credit cards do not charge a fee when you make purchases that go through a foreign bank or are in a currency other than U.S dollars, making them perfect credit cards to use when traveling abroad.
Multiple credit card benefits
Walmart Rewards credit card is great for Walmart purchases. This credit card covers you whether you want to purchase groceries, makeup, clothes, or hardware supplies.
However, the Capital One Walmart Reward credit card offers more than that, such as emergency support, extended warranty protection on various purchases, price protection, travel assistance, travel accident insurance, and fraud protection.
Therefore, if you are a frequent shopper at Walmart, you must apply for a Capital One Walmart Rewards credit card. Even if you don’t plan to use it, carrying an extra credit card in your wallet does not hurt.
Drawbacks of Walmart Credit Cards
Like any other credit card, Walmart credit cards do have some drawbacks, such as:
- Limited rewards and bonuses for in-store shopping
- Higher interest rates
- Require a good credit score to qualify
- Charge a 3% balance transfer fees
- Limited benefits
How Much of a Credit Score is Required For Walmart Credit Cards?
Walmart credit cards have become immensely popular for all the right reasons. Considering their convenience, everyone wants to get their hands on these Walmart credit cards.
However, it is not as easy as it sounds. You must have a good credit score to get your Walmart credit card approved.
Now, you must wonder how much credit score is required to qualify for a Walmart credit card? Well, almost 600 to 700 FICO credit score is required to qualify for a Capital One Walmart Rewards credit card.
However, if your Capital One Walmart Rewards credit card is not getting approved, you can apply for a basic Walmart Rewards card that can be used only at Walmart properties.
Even if you have a credit score of less than 500, you will qualify for the basic Walmart credit card.
How to Apply for Walmart Credit Cards?
Walmart understands that people have busy work lives. Therefore, it has made it quite easier for people to apply and manage their credit card accounts.
You can apply for a credit card either at the store or online. However, you will not receive the credit card right away.
Are you wondering how to make your credit card payments? You can do that online or at any Walmart store (customer service counter).
Walmart is undoubtedly everyone’s favorite store for grocery, makeup, clothes, or electronics shopping.
Therefore, people must have a Walmart credit card, especially for hard times when they have to make Walmart purchases but are short on money.
Walmart credit cards cannot only help in bad credit situations, but they also can help you maximize your savings on Walmart purchases.
However, Walmart offers two types of credit cards. If you have a good credit score, which one should you apply for?
Well, it greatly depends on your requirements. If you just want a credit card for Walmart purchases, you should apply for a basic Walmart Rewards credit card.
However, if you want a universal credit card that is accepted everywhere and offers you a decent amount of cash back on every purchase, the Capital One Walmart Rewards credit card would be a perfect option.