While many of the most popular credit cards offer travel rewards, there are some popular retail credit cards. Capital One has a lot of great cards and they just announced a new credit card with Walmart.
Capital One Walmart Rewards Credit Card
On September 24, 201
- Capital for Capital Rewards Walmart will be their primary card
- Walmart rewards will be exclusive to Walmart purchases
The Capital One Walmart Mastercard rewards will have no annual fee and no foreign transaction fees, and will offer the following cost recovery:
- 5% return on purchases at Walmart.com, including Walmart for receiving and delivering food
- 5% return on purchase at the store using Walmart Pay for the first 12 months after approval as a special introductory offer
- 2% back to Walmart in-store purchases
- 2% back to restaurants and travel
- 1% back everywhere else
You will be able to redeem your prize s at any time for travel, gift cards, online at walmart.com, recent purchases and even statement credits, so the rewards are more or less good like money.
In a press release for the new card, Capital One also emphasizes the following:
The card also includes various digital first features that review how customers interact with their credit card. While customers can apply for the card at Walmart.com, the Walmart app or at CapitalOne.com, Walmart and Capital One have also created mobile app experiences. Applicants can submit a text to apply from anywhere and complete their application from their personal mobile devices. Once the candidates are approved and their identity is confirmed, they will have immediate access to their Walmart purchase card.
I'll admit that I'm low-tech. Although I appreciate that they make it easy to apply for and get instant access to maps, do I feel like I can apply on either a smartphone or a computer is it really a pain in the experience of mapmakers?
So "I'm not sure what it looks like to send credit card application text messages, but …
How about current Walmart Cardmembers?
Current Walmart card holders will be converted into one of these cards and will win prizes with the new structure as of October 11, 2019, with new cards arriving in the mail starting in November.
Current cardholders will also be eligible to earn 5% back when using their card with Walmart Pay for in-store purchases until October 14, 2020.
New Is there any benefit to Walmart's credit card?
When we see that co-branded credit cards are introduced, I get the feeling that they usually go in one of two directions:
- They are lucrative for spending with a joint brand partner, but not and for day-to-day expenses
- are lucrative for day-to-day expenses, but not with co-brand partner
In this case, the new Capital One Walmart Rewards credit card is great for frequent Walmart buyers.
For the first year, you can potentially earn a 5% cashback in-store and online, which is excellent. Beyond the first year, you earn only 5% of your money at Walmart.com and 2% back at the store.
Unfortunately, this card is also not very lucrative. You earn 2% back on restaurants and travel and 1% back on everything else. While it's nice not to have an annual fee card without foreign transaction fees, you should be able to do better than that.
For example, at the most basic level, the Citi® dual money card is free of charge and offers a 1% cashback on purchase and a 1% cashback when paying for this purchase. However, the card has fees for foreign transactions.
Capital One and Walmart are launching a new credit card that offers great value for money for those who make frequent purchases with Walmart. On top of that, the card has no annual fee and no fees for foreign transactions.
Unfortunately, the card is not very lucrative for daily expenses, as you are looking to earn 2% on restaurants and travel and 1% back on everything else.
So, if you are a frequent Walmart buyer, it may be worth taking this card, but I would not recommend using it as your primary card for everyday expenses.
What to do with the new Capital Walmart card?