Information about these card have been collected independently by The Simple Dollar. The issuer did not provide the details, nor is it responsible for their accuracy.
Walmart is one of the largest and most frequently used retailers in the US.
Walmart currently offers two credit card options to its shoppers: the Walmart® Credit Card and Walmart® Mastercard. The main difference between the two is that one can only be used at Walmart, while the other can be used to make purchases anywhere. The good news for you is the benefits of each card are virtually identical.
Here’s what to expect when you apply for a Walmart® Credit Card or Walmart® Mastercard.
Walmart® Credit Card and Walmart® Mastercard
- Get a $25 credit at Walmart stores or Walmart.com when you get approved for either card and spend $75 within the same day of account opening
- Get 3% back on Walmart.com and Walmart Grocery Pickup purchases
- Save 2% on gas purchased from Murphy USA and Walmart gas stations
- Receive an additional 1% back on all other purchases
- No annual fee
- Free FICO® score check each month
- Online account management available through Synchrony Bank
Five Reasons to Like the Walmart Credit Card
Shoppers who apply for a Walmart credit card may be initially attracted to the 3.2.1 Save Rewards program, which grants varying amounts of cash back on certain types of purchases.
Here five other big reasons to like these cards:
#1: You get 3 percent off Walmart.com purchases.
The main selling point of both the Walmart® Credit Card and Walmart® Mastercard is that they offer 3 percent cash back on Walmart.com purchases. For the average family of four, that’s an average savings of over $100 per year.
The only caveat is that in-store purchases don’t qualify. So, if you use your card at a physical Walmart store, you’ll get the standard 1 percent cash back, as you would with a purchase at any other store.
#2: Rewards can be earned on Grocery Pickup.
Walmart’s Grocery Pickup service allows customers to order and pay for their groceries online and pick them up in-store, and the 3% cash back offer works on these purchases.
#3: There’s no annual fee.
Neither card carries an annual fee. So you won’t have to make any calculations to decide if the benefits are worth the cost.
#4: Free FICO® Score reporting.
US federal law allows you to get a free FICO credit report once every 12 months. With a Walmart credit card, you’ll get the same reporting monthly via your electronic statement. This is a fairly standard feature for credit cards nowadays, but still a nice feature to have.
#5: You get $25 off your first purchase when you sign up.
Walmart gives new cardholders a $25 statement credit when they make a purchase of $75 or more on the day that they open a new account. This applies to purchases made either in store or online.
The Bottom Line
With no annual fees to worry about, there’s plenty of value to be had, especially if you’re a regular Walmart.com shopper. But if you prefer to make in-store purchases, keep in mind that some cash back cards may offer better rewards – like the Citi® Double Cash Card, which gives a flat 2% cash back on all purchases.