Capital One will issue credit cards for the world’s largest physical retailer in the United States starting Aug. 1, 2019, Walmart said. This new deal covers both credit cards that can only be used at Walmart’s website and stores, as well as co-branded cards that can be used elsewhere.
Capital One takes over as the issuer of Walmart’s credit cards from Stamford, Connecticut-based Synchrony Financial, whose contract was not renewed and expires next year.
The switch from Synchrony to Capital One is the biggest since Costco dumped American Express in favor of Citigroup Inc. in 2016.
It’s not clear what benefits or offers will be included in these new Capital One Walmart credit cards. Also this deal doesn’t seem to include the Sam’s Club credit card. For now you can just keep using your Wlmart card without issues. More details on the transition should be coming out soon.