Walmart does have a credit card, but it comes in two versions with different rewards and terms
Walmart offers two credit cards through Synchrony Bank: the Walmart Credit Card (the standard version) and the Walmart Rewards Card (the premium version). Both are still active as of now, though Walmart has made changes to its card program over the years. The standard card focuses on in-store financing offers, while the rewards card earns cash back on purchases.
The key difference between them matters for how you'll use the card. The standard Walmart Credit Card is best if you shop at Walmart frequently and want access to promotional financing periods. The Walmart Rewards Card is better if you want cash back on everyday purchases, though it has an annual fee that the standard card does not.
Both cards work only at Walmart and Sam's Club locations (online and in-store). You cannot use them at other retailers, which is an important limitation to know upfront.
Key Takeaways
- Walmart offers two credit cards through Synchrony Bank: a standard card with no annual fee and a rewards card with an annual fee that earns cash back.
- The standard Walmart Credit Card focuses on promotional financing offers like deferred interest periods, while the Walmart Rewards Card earns 1% to 3% cash back depending on where you shop.
- Both cards work only at Walmart and Sam's Club, not at other stores or online retailers outside of Walmart's own website.
- The rewards card charges an annual fee, so you need to spend enough at Walmart to make the cash back exceed the fee cost.
The Standard Walmart Credit Card and its financing offers
The standard Walmart Credit Card has no annual fee and is designed around promotional financing periods rather than rewards. When you carry a balance during a promotional period (such as 12 months special financing on purchases over a certain amount), you pay no interest if you pay off the full balance before the period ends. If you do not pay it off in time, interest accrues retroactively to the original purchase date.
This card is useful if you plan to make a large purchase at Walmart and want time to pay it off without interest. The catch is that the promotional terms vary by purchase amount and change periodically. You need to check the specific offer at the time you apply or make your purchase, because the terms are not fixed.
The standard card also gives you access to Walmart's in-store financing options, which sometimes differ from what you would get as a regular customer. However, the card itself does not earn cash back or points on regular purchases.
The Walmart Rewards Card and its cash back structure
The Walmart Rewards Card earns cash back on purchases, but at different rates depending on where you shop. You earn 3% cash back at Walmart and Sam's Club, 1% cash back at gas stations and restaurants, and 1% cash back on all other purchases. The cash back is credited to your account and can be redeemed as a statement credit or transferred to your bank account.
This card charges an annual fee. The exact amount varies, so you should confirm the current fee before you open the account. To make the card worthwhile, you need to spend enough at Walmart and Sam's Club to earn cash back that exceeds the annual fee. For example, if the annual fee is $55, you would need to earn at least $55 in cash back during the year to break even. At 3% cash back at Walmart, that means spending roughly $1,833 per year at Walmart and Sam's Club combined.
The rewards card also includes some cardholder perks like extended return periods at Walmart, though these benefits change and you should verify what is current before opening the account.
How to compare these cards to other retail credit cards
Retail credit cards like Walmart's are typically easier to open than general-purpose credit cards because they have lower credit score requirements. However, they come with a major trade-off: you can only use them at one retailer. If you shop at multiple stores, a general-purpose rewards card (like a cash back card from a bank) might earn you more total cash back across all your spending.
The Walmart Rewards Card's 3% cash back at Walmart is competitive with some general-purpose cards, but only if you do most of your shopping there. If you split your spending between Walmart, Target, grocery stores, and other retailers, a card that earns 2% cash back everywhere might actually give you more value overall, even after accounting for the Walmart card's higher rate at Walmart specifically.
The standard Walmart Credit Card's promotional financing is useful only if you plan to make large purchases and can pay them off within the promotional period. If you carry a balance beyond the promotional window, the retroactive interest can be steep, so this card is risky if you are uncertain about your ability to pay.
What happened to Walmart's previous credit card offerings
Walmart has changed its credit card program several times over the past decade. In the past, Walmart offered a card through a different issuer and had different rewards structures. The current setup through Synchrony Bank represents Walmart's most recent restructuring of its card program.
Some older Walmart credit cards are no longer issued, but if you have one of those older cards, it may still work at Walmart and Sam's Club. The terms and rewards on older cards may differ from the current offerings, so if you have an old Walmart card, check your cardholder agreement or contact Synchrony to understand what you currently have.
Where to open a Walmart credit card and what to expect
You can open a Walmart credit card in several ways: online through Walmart's website, in-store at a Walmart location (usually at the customer service desk), or by phone through Synchrony Bank. The online application is typically the fastest route and gives you an answer within minutes in most cases.
When you open the account, you will need to provide your Social Security number, date of birth, income, and current address. Synchrony will pull your credit report to make a decision. Unlike some retail cards, Walmart's cards do perform a hard credit inquiry, which temporarily lowers your credit score by a few points.
If you are approved, your card will arrive by mail within 7 to 10 business days. You can use it online at Walmart.com and in-store at Walmart and Sam's Club locations immediately after approval, even before the physical card arrives.
Annual fees and when they are worth paying
The standard Walmart Credit Card has no annual fee, so there is no cost to open or keep it if you do not use it. The Walmart Rewards Card charges an annual fee that you pay once per year, typically in the month you opened the account.
Whether the annual fee is worth it depends entirely on your spending at Walmart and Sam's Club. If you spend less than $1,500 per year at these stores combined, the cash back you earn will likely not exceed the annual fee, and the card would cost you money. If you spend more than that, the card may pay for itself and generate additional savings.
You can cancel the rewards card at any time if you decide the annual fee is not worth it. There is no penalty for closing the account early, though you should pay off any remaining balance first.
Frequently Asked Questions
Can I use a Walmart credit card at other stores?
No. Both the standard Walmart Credit Card and the Walmart Rewards Card work only at Walmart and Sam's Club locations, including their websites. You cannot use them at Target, Amazon, or any other retailer. This is a major limitation compared to general-purpose credit cards.
What is the credit score requirement for a Walmart credit card?
Walmart does not publish a minimum credit score, but retail credit cards generally accept applicants with fair credit (typically 600 and above). You may be approved even with a lower score, though your credit limit might be lower. The only way to know is to apply.
Do I have to shop at Walmart to open the card?
No. You do not need to be an existing Walmart customer to open either card. You can open the account online or in-store without any prior relationship with Walmart. However, the card is only useful if you plan to shop at Walmart or Sam's Club regularly.
Can I use the Walmart Rewards Card to pay my Walmart bill online?
Yes. You can use the Walmart Rewards Card to pay your Walmart credit card bill through your online account or by phone. However, paying a credit card with the same credit card does not earn cash back and is not recommended as a strategy.
What happens if I do not pay off a promotional financing purchase in time?
Interest accrues retroactively to the original purchase date, meaning you owe interest on the entire balance from day one, not just from the end of the promotional period. This can result in a large unexpected charge. Always set a reminder to pay off promotional purchases before the period ends.