It seems like every major retailer has its own credit card offer, and Walmart is no exception. Considering the fact that you can get much of your shopping done all in one spot with Walmart — including groceries, clothing, and household goods — it might make sense for you to have a Walmart credit card in your wallet. It promises to reward you with points with every shopping excursion you make at the department store, then redeem your rewards for in-store or online purchases at Walmart.
Let’s take a closer look at the Walmart Rewards Mastercard to help you decide if it’s worth applying for.
Key Points
- The Walmart Rewards Mastercard lets you earn Walmart Reward Dollars on purchases with no annual fee.
- Earn anywhere from 1% to 5% on purchases when you use your Walmart Rewards Mastercard.
- Extra perks include zero liability protection, purchase assurance, and extended warranty.
What Is The Walmart Rewards Mastercard?
The Walmart Rewards Mastercard lets you earn Walmart Reward Dollars on purchases. Earn rates range from 1% to as much as 5% on eligible purchases. There’s no annual fee, and reward dollars can be redeemed at Walmart stores or online at Walmart.ca. Additional perks of the card include purchase assurance and extended warranty.
Walmart Rewards Mastercard Overview
| Annual Fee | $0 |
| Purchase Rate | 26.99% – Standard rate card 21.89% – Preferred rate card |
| Cash Advance Rate | 27.99% – Standard rate card 22.97% – Preferred rate card (21.97% for QC residents) |
| Earn Rate | Earn 5% Reward Dollars when you purchase eligible Walmart brands, including: – George – Athletic Works – Your Fresh Market – Great Value Earn up to 3% when you shop online for groceries and other favourites Earn 1.25% at Walmart stores and online at Walmart.ca Earn 1% on all other purchases |
| Welcome Bonus | Up to $45 |
| Extra Perks | Zero Liability Protection Purchase Assurance Extended Warranty |
Walmart Rewards Mastercard Rewards System
Every Walmart Rewards Dollar earned is the equivalent of $1 at Walmart.
The Walmart Rewards Mastercard allows you to earn as follows:
- 5% Reward Dollars when you purchase eligible Walmart brands, including:
- George
- Athletic Works
- Your Fresh Market
- Great Value
- Up to 3% when you shop online for groceries and other favourites
- 1.25% at Walmart stores and online at Walmart.ca
- 1% on all other purchases
Walmart Rewards Mastercard Welcome Bonus
A welcome bonus of up to $45 is available when you first sign up and get approved for a Walmart Rewards Mastercard:
- $20 in Reward Dollars when you spend at least $50 using your temporary shopping pass after approval.
- $15 in Reward Dollars after one purchase at Walmart and another purchase elsewhere.
- $10 in Reward Dollars when you sign up for paperless statements.
Learn more: Is Paying a Credit Card Annual Fee Worth It?
How Are Walmart Rewards Redeemed?
You can redeem your Walmart Reward Dollars in $5 increments at Walmart stores and online at Walmart.ca. This includes all Walmart products, including grocery orders and items sold by Marketplace sellers.
How To Redeem Walmart Rewards Dollars Online
To redeem your points at Walmart.ca, follow these steps:
- On the Check Out screen, click “Redeem Walmart Reward Dollars”
- Choose how much to redeem (in $5 increments)
- Click “Apply”
How To Redeem Walmart Rewards Dollars In-Store
To redeem your points in person, simply insert your Walmart Rewards Mastercard at the payment terminal, then follow the prompts to redeem your rewards in $5 increments. The Walmart reward dollars will be applied to the purchase.
Keep in mind that your Walmart reward dollars can only be spent at Walmart and cannot be redeemed for purchases from any other retail chain. That said, you’re free to use your Walmart Rewards Mastercard anywhere that accepts a Mastercard, so you can earn points no matter where you use the card.
Pros Of The Walmart Rewards Mastercard
The Walmart Rewards Mastercard comes with several perks, including the following:
No Annual Fee
Credit cards often come with some sort of annual fee. But with the Walmart Rewards Mastercard, you don’t have to worry about any pesky annual fees creeping up on you every year.
Free Secondary Cards
You can add supplementary credit cards to authorized users on your account for free.
Sign-Up Bonus
You can earn up to $45 in Walmart Rewards when you first take out the credit card.
Rewards Can Be Redeemed For As Little As $5
You don’t have to wait until you’ve collected hundreds of dollars worth of Walmart rewards points before you can redeem them. With this card, you can redeem them in as little as $5 increments. Plus, the points never expire as long as your account is active.
Zero Liability Protection
Your credit card is protected against any transactions that you do not authorize, so you won’t be on the hook to cover any fraudulent purchases.
Purchase Assurance
Protect eligible purchases made on your credit card against theft, loss, or damage over the first 90 days from the date of purchase.
Extended Warranty
Double the manufacturer’s warranty to have a product repaired or replaced for an additional year for purchases made with the Walmart credit card.
Cons Of The Walmart Rewards Mastercard
Along with the benefits of the Walmart Rewards Mastercard come a handful of drawbacks to be aware of:
Rewards Can Only Be Redeemed At Walmart
While points can be accumulated no matter where you use your Walmart Rewards Mastercard, they can only be redeemed at Walmart stores or on Walmart.ca.
No Free Insurance Products
The Walmart Rewards Mastercard doesn’t offer free insurance coverage.
Foreign Currency Conversion Fee
If you make purchases in foreign currencies, you’ll be charged a 2.5% rate.
High Income Requirement
To be eligible for the Walmart Mastercard, you only require a minimum annual income of $100,000.
Fees And Costs Of Owning A Walmart Rewards Mastercard
There may be certain fees associated with the Walmart Rewards Mastercard if you carry a balance and make purchases in foreign currencies. Like any other credit card, it’s important to understand the potential fees that they may come with. When it comes to the Walmart Mastercard, here are the fees you can expect:
The Walmart Mastercard has both a standard and preferred rate. If you apply for the preferred rate, you will automatically be considered for the standard rate card as well. Note: The standard rate card is not available to Quebec residents, they will only be considered for the preferred rate card.
- Annual fee: $0
- Supplementary cards: $0
- Purchase interest rate: 26.99% (standard rate card), 21.89% (preferred rate card)
- Cash advance interest rate: 27.99%, 22.97% (preferred rate card)
- Foreign exchange fee: 2.5%
Walmart Rewards Mastercard Fee Overview
| Annual Fee | $0 |
| Minimum Income Requirement | Household income of $100,000/year |
| Purchase APR | 26.99% – Standard rate card 21.89% – Preferred rate card |
| Cash Advance APR | 27.99% – Standard rate card 22.97% – Preferred rate card (21.97% for QC residents) |
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Walmart Rewards Mastercard Eligibility Criteria
To qualify for a Walmart Rewards Mastercard, you must:
- Be a Canadian resident
- Be the age of majority in your province
- Earn a minimum household income of $100,000
Final Thoughts
If you’re a frequent Walmart shopper, then you may be interested in a credit card that allows you to accumulate points that can then be redeemed if you shop at Walmart, both online and in person. It’s also a great card because of its zero annual fee, extended warranty offering, and purchase protection. If you prefer to have a rewards card that allows you to earn points that can be redeemed at other retailers, then you may want to consider other no-fee rewards cards.
