Capital One Walmart Rewards Card Review

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The Capital One Walmart Rewards Card offers generous rewards for Walmart shoppers. This is especially true for customers who take advantage of the big retailer’s online, app, and grocery pickup/delivery options.

Capital One Walmart Rewards Mastercard

Overall Rating
4.1
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
1.9
for Fees
3.4
for Rewards
3.9
for Credit
3.7
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

You’re a good match if you’re a Walmart regular who isn’t stuck on shopping at the store in person. The best ongoing rewards this card offers are for purchases made with Walmart via its online store, the app, or its grocery pickup or delivery service. 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 Walmart may automatically consider you 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 a lower rewards value.

Pros
  • Good rewards earning rate

  • Flexible rewards program

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

  • Limited new cardholder bonus

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 competitive rate of return overall than other store-branded credit cards. 
  • Flexible rewards program: This card has multiple redemption options. 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 applies only if you use Walmart Pay. You’ll only earn 2% back on Walmart in-store purchases after that.
  • Limited new cardmember bonus: For the first year, you get 5% off Walmart Pay purchases in-store. Other store-branded cards provide gift card bonuses, a temporary rewards boost on all purchases or various financing options. 

Capital One Walmart Rewards Card Bonus for New Cardholders

For the first 12 months you own the card, anytime you use Walmart Pay in-person at a Walmart store, you'll earn 5% on your purchases. This rate is more than double what you'd normally get by making a purchase at a brick-and-mortar Walmart. There is no cap on rewards in this offer.

To earn the bonus, you'll need to download the Walmart Pay app to your cellphone and connect your Capital One Walmart Rewards Card.

If you do all of your grocery shopping at Walmart and you use Walmart Pay every, current data indicates you can earn more than $130 from the welcome bonus.

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

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

How much you can earn 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 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:

  • Pay for online purchases made at Walmart.com
  • Redeem them for previous purchases, statement credits, or gift cards
  • Redeem them for travel through the Walmart/Capital One travel 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

Use the Capital One Walmart Rewards Card for all your Walmart purchases, including grocery pickup and delivery. Also, download the Walmart Pay app and load your Capital One Rewards Card on it so you can earn 5% back on in-store purchases for the first 12 months.

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.

Customer Experience

J.D. Power gave Capital One the fifth spot out of 11 in its 2020 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. It scored second out of 10 in J.D. Power’s U.S. Credit Card Mobile App Satisfaction Study, behind only BB&T Now Truist. You can pay your bill, view your balance, track your rewards, and more through the app. You also may 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, security alerts, and a card lock feature you can use to temporarily lock your card if you lose it. 

Capital One Walmart Rewards Card Fees to Watch Out For

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
4.1
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. Walmart. "Walmart Credit Card." Accessed Dec. 21, 2020.

  2. Bureau of Labor Statistics. "Consumer Expenditures—2018." Accessed Dec. 21, 2020.

  3. J.D. Power. "2020 Credit Card Satisfaction Study." Accessed Dec. 21, 2020.

  4. J.D. Power. "2020 U.S. Credit Card Mobile App Satisfaction Study." Accessed Dec. 21, 2020.