New Capital One Walmart Cards, Earn up to 5% Back

We have known for a while now that the new Walmart credit cards would be issued from Capital One. Synchrony Bank was the previous issuer, but that partnership didn’t end well. Now we have details for the new Capital One Walmart cards and what we can expect in terms of rewards for cardholders. which includes a new program.

Capital One Walmart cards

Capital One Walmart Rewards Mastercard

Walmart said it would debut a co-branded card, the Capital One Walmart Rewards Mastercard, on September 24. The aim is to reward loyal customers of Walmart, and therefore to hook them to keep coming back. The card offers shoppers several perks:

  • Earn 5% cash back on Walmart online orders
  • Earn 2% cash back on
    • Walmart purchases in stores
    • Outside of Walmart
    • Restaurants
    • Travel
  • 1% back on all other purchases

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As a special offer, the card offers customers 5% cash back on Walmart purchases in stores for 12 months if they sign up for Walmart Pay, the company’s mobile payment option.

Current Synchrony Walmart cardholders will be converted over to its new program beginning in October.

Capital One Walmart Rewards Card

The other new card being offered is the Walmart Rewards Card, which can only be used at Walmart stores, Walmart.com, and at Walmart fuel centers, including Murphy gas stations.

One advantage of this card is that it’s offered to customers who don’t have strong enough credit to qualify for the Capital One Mastercard. However, Walmart Rewards Card holders will earn the same 5% back on purchases made at Walmart.com and on the Walmart app, and receive the same 5% introductory offer for using Walmart Pay in stores for the first their account’s first 12 months. Once the introductory offer ends, these cardholders will receive an unlimited 2% back on Walmart purchases in stores and at Walmart fuel stations. This is similar to what Target offers.

Guru’s Wrap-up

Walmart hopes its new credit card will give customers incentives to continue shopping at the store while spending money elsewhere. It also bring the retailers card in line with Amazon and Target that already have cards that give you 5% back. The new card with Capital One nearly doubles the rewards Walmart offered through its previous credit card program with Synchrony, so it will be a great boost for those who already have the card.

If you shop at Walmart often, then these Capital One Walmart cards should be welcomed news. Let me know what you think though. You can read the press release here.

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