Capital One Walmart Rewards Card Review

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The Capital One Walmart Rewards Card offers generous and surprisingly flexible rewards that are valuable for Walmart shoppers. This is especially true for Walmart shoppers who take advantage of the big retailer’s non-brick-and-mortar shopping options. The best ongoing rewards earning rates are found online, in the Walmart app, and via the chain’s grocery pickup and delivery service. The card also rewards shoppers who prefer to do it the old fashioned way, in the store, albeit for a limited time.

Capital One® Walmart Rewards™ Mastercard

overall rating
3.7
Capital One® Walmart Rewards™ Mastercard
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 17.99% - 26.99% variable
Annual Fee $0
Rewards Earning Rate Earn 5% at Walmart.com, the Walmart app, and on Walmart grocery pickup and delivery. Earn 2% back on purchases at Walmart stores, Walmart & Murphy USA Fuel Stations, and on dining and travel purchases. Earn 1% back on all other purchases.
Ratings Breakdown
for Interest
2.1
for Fees
1.9
for Rewards
4.8
for Credit
2.2

Current Offer:

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.

Who Is This Credit Card Best For?

  • Avatar for Deal Seeker Persona
    Diligently searches for the best products and delights in a good bargain See more cards
    Deal Seeker
  • Avatar for Family Shopper Persona
    Looks for good quality at a fair price while buying for the household See more cards
    Family Shopper
  • Avatar for Trendsetter Persona
    Loves being the first to try something new See more cards
    Trendsetter
  • Avatar for Brand Loyalist Persona
    Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
    Brand Loyalist

The best ongoing rewards this card offers are for purchases made with Walmart via its non-traditional shopping tools—the online store, the app, or its grocery pickup or delivery service. You’re a good match if you’re a Walmart regular who isn’t stuck on shopping the store in person. That said, if you’re willing to use Walmart Pay (the chain’s smartphone payment app), you can earn the highest rate of rewards this card offers—5% back—on purchases made in brick and mortar Walmart stores for 12 months.

However, you should know before applying that you may be automatically considered for the Walmart Rewards Card, a store credit card, if your credit isn’t good enough to qualify for the Capital One Walmart Rewards Card. This means you could apply for this general rewards card and get stuck with a store credit card with inferior rewards value.

Pros
  • Good rewards earning rate

  • Flexible rewards program

Cons
  • Mediocre ongoing rewards in brick-and-mortar stores

  • No cardholder perks

  • No bonus for new cardholders

Pros Explained

  • Good rewards earning rate: Though rewards-earning rates vary based on what purchase you’re making with the card, the Capital one Walmart Rewards card offers a higher rate of return than many rewards cards offer, including some with no annual fee. 
  • Flexible rewards program: This card lets you redeem points in lots of ways. You can use your rewards to cover purchases made on Walmart’s online store or for statement credits, gift cards, or travel.

Cons Explained

  • Mediocre ongoing rewards in brick and mortar stores: While you can earn 5% back on in-store Walmart purchases for 12 months, this perk only applies if you use Walmart Pay. You’ll only earn 2% back on Walmart in-store purchases after that.
  • No cardholder perks: Where some cash-back credit cards offer benefits like purchase protection and extended warranties, the Capital One Walmart Rewards Card doesn’t offer any similar perks. 
  • No bonus for new cardholders: Also note that the Capital One Walmart Rewards Card doesn’t offer a bonus like many cash-back credit cards do, including many with no annual fee. 

Earning Points & Rewards

Earning rewards is pretty straightforward. You’ll get:

  • 5% back on Walmart.com, purchases made with the Walmart app, and on Walmart grocery pickup and delivery
  • 2% back at Walmart stores, Walmart and Murphy USA fuel stations, restaurants, and on travel purchases
  • 1% back on everything else

In addition, you’ll earn 5% back in Walmart brick-and-mortar stores for 12 months when you pay with Walmart Pay.

How much can you earn? It all depends on how much you spend in the higher earning categories and on other purchases. However, it’s easy to imagine how you could maximize this card’s rewards with grocery spending alone. 

According to the 2018 Consumer Expenditure Survey from the Bureau of Labor Statistics, the average American household spends $4,464 on groceries annually. If you purchased the same amount of groceries through Walmart pickup and paid with the Capital One Walmart Rewards Card, you would earn 5% back on those purchases—or $223.20 in rewards per year. 

Redeeming Rewards

The Capital One Walmart Rewards Card lets you redeem rewards in several ways. You can use rewards to cover online purchases made at Walmart.com and you can redeem them for previous purchases, statement credits, or gift cards. You can also redeem rewards earned with this card for travel through the Walmart/Capital One portal for 1 cent per point.

You track and manage your points through your account online or through Capital One’s banking app.

How to Get the Most Out of This Card

Of course, use the Capital One Walmart Rewards Card for all your Walmart purchases, including grocery pickup and delivery. Also consider downloading the Walmart Pay app and loading this card onto it so you can earn 5% back on in-store purchases for the first 12 months.

On the redemption side your points are worth 1 cent each, however you decide to redeem them, according to The Balance’s calculations. You can collect as many as you like and they won’t expire as long as your account is open.

One bright spot is that partial redemptions are accepted, so you can pay for purchases online or in the app using a combination of points and money.

Customer Experience

J.D. Power gave Capital One the third spot in its 2019 U.S. Credit Card Satisfaction Study, which considered the user experience of more than 28,000 credit card customers nationwide. This study asked cardholders about factors like benefits and services, rewards, credit card terms, and communication. 

Capital One also offers a highly rated mobile app, which once again scored third in J.D. Power’s U.S. Credit Card Mobile App Satisfaction Study, only behind Discover and American Express. This app lets you pay your bill, view your balance, track your rewards, and more. You may also want to download the Walmart app since this card gives you 5% back on in-app purchases. 

Security Features

The Capital One Walmart Rewards Card comes with industry-standard security features including zero liability for fraudulent purchases, but you can also set up security alerts that notify you if suspicious activity is noticed on your account. This card also comes with a card lock feature that lets you temporarily deactivate your card if it’s been misplaced, lost, or stolen. 

Capital One Walmart Rewards Card Fees

The Capital One Walmart Rewards Card is fairly light on fees. You can even use this card for international purchases without paying foreign transaction fees.

Next Steps
For Capital One® Walmart Rewards™ Mastercard
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CURRENT CARD
Capital One® Walmart Rewards™ Mastercard
overall rating
3.7
Recommended Credit Score Our recommended ranges are based off of the FICO® Score 8 credit-scoring model. Credit score is one of the many factors lenders review in considering your application.
350 579
580 669
670 739
740 799
800 850
Good - Excellent
Regular APR (%) 17.99% - 26.99% variable
Annual Fee $0
Rewards Earning Rate Earn 5% at Walmart.com, the Walmart app, and on Walmart grocery pickup and delivery. Earn 2% back on purchases at Walmart stores, Walmart & Murphy USA Fuel Stations, and on dining and travel purchases. Earn 1% back on all other purchases.
Our Methodology
At The Balance, we are dedicated to giving you unbiased, comprehensive credit card reviews. To do this, we collect data on hundreds of cards and score more than 55 features that affect your finances.
  • Our Reviews Are Always Impartial: No one can influence which cards we review, the way we present them to you, or the ratings they receive. The scores and reviews come directly from the data we collect and our editorial expertise, and we focus on three areas:
  • How Much Does It Cost? With credit card debt at an all-time high, we believe you should know the cost of carrying a balance. Because of that, we give regular purchase APRs significant weight in overall scores, and cards receive low marks if they have an array of pricey fees.
  • What Are the Rewards Worth? Cards accumulate rewards in different currencies—points, miles, cash back—and their values vary widely. To simplify the problem, we built a system that fairly compares rewards and gives them a dollar value. We do this by looking at the ways you can earn and use rewards, which includes evaluating Americans’ typical spending habits and analyzing common travel patterns.
  • Does It Make Your Life Easier? Our scoring system favors cards that accept a wide range of credit profiles and offer simple solutions for things like checking your credit score or contacting customer service. Finally, we give preference to credit cards that have several tools for dealing with fraudulent charges.
  • For every review on The Balance, we hold the credit cards to these standards, and we set the bar high. While we recognize the appeal of splashy features like six-digit sign-up bonuses, our approach ensures that credit cards with the best combination of value, affordability, and accessibility receive the highest scores. See our full methodology for more details.

Article Sources

The Balance requires writers to use primary sources to support their work. These include white papers, government data, original reporting, and interviews with industry experts. We also reference original research from other reputable publishers where appropriate. You can learn more about the standards we follow in producing accurate, unbiased content in our editorial policy .
  1. BLS. "2018 Consumer Expenditure Survey." Page 5. Accessed Jan. 31, 2020.

  2. Capital One. "Capital One Application Terms." Accessed Jan. 31, 2020.

  3. J.D. Power. "2019 U.S. Credit Card Satisfaction Study." Accessed Jan. 31, 2020.

  4. J.D. Power. "U.S. Credit Card Mobile App Satisfaction Study." Accessed Jan. 31, 2020.