The offers on this page are from advertisers who pay us. That may influence which products we write about, but it does not affect what we write about them. Here's an explanation of how we make money.

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

Lee Huffman
8 min read

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 Rewardsยฎ Mastercardยฎ 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 itโ€™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, youโ€™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 donโ€™t use it regularly.

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

This card doesnโ€™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 youโ€™re shopping online or in-store, youโ€™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, youโ€™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 isnโ€™t a traditional bonus offer, the amount of bonus cash back youโ€™ll earn depends on how much you spend at Walmart stores. There is no cap on earnings, and you donโ€™t have to register ahead of time.

In addition to earning bonus cash back on Walmart purchases, youโ€™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.

Youโ€™ll earn an unlimited 1% cash back on all other purchases. This allows you to continue earning rewards on your spending that doesnโ€™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 donโ€™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 donโ€™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 doesnโ€™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.

Read more: Target Circle 360 vs. Walmart+ and Amazon Prime

  • 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 donโ€™t qualify for the highest rewards

  • Doesnโ€™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 itโ€™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, youโ€™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.

Why we like it: The Amex Gold Card is an excellent choice for people with large grocery budgets. This card earns 4x points on the first $25,000 you spend on groceries at U.S. supermarkets each year. It also earns 4x at restaurants worldwide, 4x on takeout and delivery within the U.S., and 3x on flights booked directly with airlines or through Amex Travel.

Although it has a $250 annual fee, the card includes a $120 dining credit and $120 Uber Cash each year. 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. (See rates and fees.)

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.

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.

New cardholders can take advantage of the card's 0% intro APR offer on purchases and balance transfers for 12 months from the date of account opening, then a variable APR of 18.24% to 29.24%. (See rates and fees.)

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

Editorial Disclosure: The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including card rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the bankโ€™s website for the most current information. This site doesn't include all currently available offers.