The information related to Capital One® Walmart RewardsTM Card and Walmart Rewards Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
Walmart and Capital One have partnered to launch two new credit card products on Sept. 24, 2019: the Walmart Rewards Card and the Capital One® Walmart RewardsTM Card. Both cards offer bonus cash back at Walmart.com and come with a $0 annual fee. Plus, each card allows you to Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart.
Where the cards differ the most is that the Walmart Rewards Card is a private-label card exclusively for Walmart purchases, while the Capital One® Walmart RewardsTM Card can be used anywhere Mastercard is accepted.
If you are already an existing Walmart store cardholder, you will automatically be converted to the new version of your card beginning Oct. 11. You will be eligible to receive the introductory offer if you load your card into Walmart Pay and use the mobile app when shopping at brick-and-mortar locations. You can expect to receive an updated card in the mail some time late 2019 or early 2020.
For a full breakdown of what these card offers, read on. In addition to showing what we like and dislike about each card, we’ll show how they compare to the Discover it® Cash Back.
What we like about the Walmart Rewards Card
Sign-up bonus. The Walmart Rewards Card offers 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval.
This is the same introductory bonus as the Capital One® Walmart RewardsTM Card.
Bonus cash back. Cardholders earn 5% back on purchases made at Walmart.com and on the Walmart app, 2% back on Walmart purchases in stores outside of the introductory offer, and 2% back at Walmart Fuel Stations.
What we don’t like about the Walmart Rewards Card
Can only use card on Walmart purchases. You can only use the Walmart Rewards Card at Walmart stores, Walmart.com and Walmart fuel centers (including Murphy gas stations).
Lower rewards rate on in-store purchases after first year. Like the Capital One® Walmart RewardsTM Card, the Walmart Rewards Card only lets you earn 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval. After that, the rate drops to 2%.
What we like about the Capital One® Walmart RewardsTM Card
Cash back on every purchase. Cardholders earn 5% back at Walmart.com & Walmart app, Grocery Pickup and Delivery, 2% at Walmart stores, Walmart & Murphy USA Fuel Stations, Restaurants & travel, 1% Everywhere else Mastercard® is accepted.
No annual fee. Like the Walmart Rewards Card, the Capital One® Walmart RewardsTM Card comes with a $0 annual fee.
What we don’t like about the Capital One® Walmart RewardsTM Card
Walmart Pay required. Both cards require Walmart Pay to earn the introductory bonus rate: Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart.
However, unlike the Walmart Rewards Card, the Capital One® Walmart RewardsTM Card also offers bonus cash back on restaurant and travel purchases.
Compare cards to the Discover it® Cash Back
If you’d prefer to earn the 5% cashback rate on a wider variety of purchases, the Discover it® Cash Back is a good alternative. Along with a $0 annual fee, the Discover it® Cash Back offers 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases – automatically.
Discover it® Cash Back
- Annual fee
- $0
- Intro Purchase APR
- 0% for 14 months
- Regular APR
- 13.74% - 24.74% Variable
- Rewards Rate
- 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
See how the cards compare side by side in the table below.
| Walmart Rewards Card | Capital One® Walmart RewardsTM Card | Discover it® Cash Back | |
|---|---|---|---|
| Annual fee | $0 | $0 | $0 |
| Intro APR on purchases | N/A | N/A | 0% for 14 months |
| Regular purchase APR | 26.99% variable | 17.99% - 26.99% variable | 13.74% - 24.74% Variable |
| Rewards | 5% back on purchases made at Walmart.com and on the Walmart app, 2% back on Walmart purchases in stores outside of the introductory offer, and 2% back at Walmart Fuel Stations. | 5% back at Walmart.com & Walmart app, Grocery Pickup and Delivery, 2% at Walmart stores, Walmart & Murphy USA Fuel Stations, Restaurants & travel, 1% Everywhere else Mastercard® is accepted | 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically. |
| Sign-up bonus/Intro Offer | 5% back for the first 12 months when you use your card with Walmart Pay for in-store purchases, upon approval. | Earn 5% back in Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay - the quick and secure way to pay with your phone at Walmart. | Discover will match ALL the cash back you've earned at the end of your first year, automatically. There's no signing up. And no limit to how much is matched. |
| Foreign transaction fees | N/A | See terms | None |
Since Discover’s cash back bonus categories rotate each quarter, you have the opportunity to earn 5% cash back on a wide range of purchases throughout the year. In fact, during the fourth quarter of 2019, Discover will offer 5% cash back at Walmart.com, Amazon.com and Target. If you max out the quarterly spend requirement by charging $1,500 during the months of October, November and December, you can earn $75 cash back on those purchases by the end of the year.
See Discover’s 5% cashback calendar for 2019 here.
The bottom line
If you spend a large amount on groceries, toiletries and other household items from Walmart each year, you should consider a card that offers cash back on those purchases, like the Walmart Rewards Card or the Capital One® Walmart RewardsTM Card.
The Discover it® Cash Back is also a great option, since it will offer its bonus rate on Walmart.com purchases, Amazon.com purchases, and Target purchases throughout October – December 2019, on up to $1,500 in purchases when you activate. The Walmart Rewards Card and Capital One® Walmart RewardsTM Card, on the other hand, allow you to earn the bonus rate on in-store purchases during the first year of card membership.
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0% intro on purchases for 15 months, after that a 15.74% - 25.74% (Variable) APR. Earn unlimited 1.5% Cash Back on every purchase, every day.
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