Who Is This Credit Card Best For?
Diligently searches for the best products and delights in a good bargain See more cards
Looks for good quality at a fair price while buying for the household See more cards
Loves being the first to try something new See more cards
Frequently shops with a particular merchant and wants to be rewarded for their loyalty See more cards
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.
Good rewards earning rate
Flexible rewards program
Mediocre ongoing rewards in brick-and-mortar stores
No cardholder perks
No bonus for new cardholders
- 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.
- 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.
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.
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.
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.