Walmart offers two credit cards: the Walmart Credit Card and the Walmart Rewards Card
Walmart operates two separate credit card programs. The Walmart Credit Card (also called the Walmart MoneyCard in some contexts) is a store card that works only at Walmart and Sam's Club locations. The Walmart Rewards Card is a Mastercard issued by Capital One that works anywhere Mastercard is accepted. Both are issued by Capital One Bank, but they function differently and carry different rewards structures.
The Walmart Credit Card is the older program and remains the most widely used. It gives you a discount on gas at Walmart fuel stations and offers promotional financing on certain purchases. The Walmart Rewards Card is newer and designed for customers who want to earn rewards on purchases outside Walmart as well as inside it.
Neither card is a charge card that requires you to pay the full balance monthly. Both are revolving credit accounts where you can carry a balance month to month, and interest accrues on unpaid balances according to the card's annual percentage rate (APR).
Key Takeaways
- The Walmart Credit Card works only at Walmart and Sam's Club but offers 2% cash back on fuel purchases and promotional financing options.
- The Walmart Rewards Card is a Mastercard that works anywhere and earns 3% cash back at Walmart, 1% at gas stations and restaurants, and 1% on all other purchases.
- Both cards are issued by Capital One and both charge interest on balances you do not pay in full each month.
- You can hold both cards at the same time, though they are separate accounts with separate balances and separate interest charges.
How the Walmart Credit Card works
The Walmart Credit Card is a store card, meaning it can only be used to make purchases at Walmart stores, Walmart.com, and Sam's Club locations. When you use it, you earn 2% cash back on fuel and food purchases at Walmart, and 1% cash back on all other Walmart purchases. At Sam's Club, you earn 1% cash back on all purchases.
The card also offers promotional financing periods. Walmart periodically runs offers such as "12 months special financing" on purchases over a certain amount (often $398 or higher, though this varies). During the promotional period, no interest accrues on that purchase. If you do not pay off the full promotional balance by the end of the period, the remaining balance is charged interest retroactively from the original purchase date at the card's regular APR.
The card has no annual fee. If you carry a balance beyond the promotional period or on non-promotional purchases, interest accrues daily based on your APR. The APR varies by applicant and is disclosed in your card agreement when you are approved.
How the Walmart Rewards Card works
The Walmart Rewards Card is a Mastercard issued by Capital One that works at any merchant that accepts Mastercard, not just Walmart. The rewards structure is tiered by merchant type: you earn 3% cash back on purchases at Walmart and Walmart.com, 1% cash back at gas stations and restaurants, and 1% cash back on all other purchases.
Cash back is credited to your account as a statement credit. You can use it to offset your balance or request it as a check or direct deposit, depending on your card issuer's policies. Unlike the Walmart Credit Card, the Walmart Rewards Card does not offer promotional financing periods.
This card also has no annual fee. Interest accrues on any balance you do not pay in full by the due date, at the APR assigned to your account. Because it is a Mastercard, you can use it for everyday purchases outside Walmart, making it useful if you want to consolidate rewards across multiple spending categories.
Differences between the two cards
| Feature | Walmart Credit Card | Walmart Rewards Card |
|---|---|---|
| Where you can use it | Walmart, Walmart.com, Sam's Club only | Anywhere Mastercard is accepted |
| Cash back at Walmart | 2% on fuel and food, 1% on other items | 3% on all Walmart purchases |
| Cash back outside Walmart | Not accepted outside Walmart | 1% at gas and restaurants, 1% elsewhere |
| Promotional financing | Yes, periodic offers (e.g., 12 months 0% APR) | No promotional financing |
| Annual fee | None | None |
| Issuer | Capital One Bank | Capital One Bank |
The key trade-off is flexibility versus rewards depth. The Walmart Credit Card gives you higher cash back on Walmart purchases and access to promotional financing, but only works at Walmart and Sam's Club. The Walmart Rewards Card works everywhere and earns rewards on all your spending, but the cash back rate outside Walmart is lower and there is no promotional financing option.
If you shop primarily at Walmart and want to take advantage of promotional financing offers, the Walmart Credit Card is the better fit. If you want a card that works everywhere and you want to earn rewards on all purchases, the Walmart Rewards Card is more useful. You can hold both cards simultaneously if you want the benefits of each.
Interest rates and how balances are charged
Both Walmart cards charge interest on balances you do not pay in full by the due date. The APR you receive depends on your credit score, credit history, and other factors Capital One evaluates during the approval process. Your APR is disclosed in your card agreement and in your monthly statement.
Interest is calculated daily using your average daily balance. This means the interest you owe each month depends on how much you spent each day of the billing cycle, not just your ending balance. If you carry a balance, the interest accrues from the transaction date forward, even if you have not yet received your statement.
On the Walmart Credit Card, promotional financing periods suspend interest accrual during the promotional window. However, if you do not pay off the promotional balance in full by the end of the period, the interest accrues retroactively from the original purchase date. This means you can end up owing significantly more than you expected if you miss the deadline.
Both cards offer a grace period on new purchases if you pay your full balance by the due date. If you do not pay in full, interest begins accruing on new purchases immediately, with no grace period.
How to manage your account and avoid interest charges
To avoid interest charges on either card, pay your full statement balance by the due date each month. The due date is listed on your monthly statement and is typically 21 to 25 days after the statement closing date. If you cannot pay the full balance, paying at least the minimum payment keeps your account in good standing, but interest will accrue on the remaining balance.
You can make payments online through Walmart's website, by phone, by mail, or in person at a Walmart Money Center. Online and phone payments typically post within one business day. Mail payments take longer and may not post before your due date if sent close to the deadline.
If you are carrying a balance on the Walmart Credit Card and a promotional financing offer is available, you can request to move your existing balance onto the promotional period. This stops interest from accruing on that balance during the promotional window, though the same retroactive interest rule applies if you do not pay it off by the end of the period.
Setting up automatic payments for at least the minimum amount helps prevent missed due dates and late fees. You can set the payment to occur a few days before your due date to ensure it posts on time.
Closing a Walmart credit card account
You can close either Walmart card by calling the customer service number on the back of your card or by requesting closure online through your account. Before you close the account, pay off any remaining balance. If you close the account with an outstanding balance, you will still owe the debt and interest will continue to accrue until it is paid in full.
Closing a credit card account can affect your credit score in two ways. First, it reduces your total available credit, which can increase your credit utilization ratio (the percentage of your total credit limit you are using). Second, it removes an account from your credit history, which can lower the average age of your accounts. These effects are usually temporary, but they may cause a small dip in your score in the short term.
If you have a promotional financing balance on the Walmart Credit Card when you close the account, the promotional period ends immediately. Any remaining balance will be charged interest at the regular APR, and retroactive interest will apply if you do not pay it off within the original promotional window.
Frequently Asked Questions
Can I use the Walmart Credit Card at other stores?
No. The Walmart Credit Card works only at Walmart stores, Walmart.com, and Sam's Club. If you need a card that works at other retailers, the Walmart Rewards Card (Mastercard) works anywhere Mastercard is accepted.
What happens if I do not pay off a promotional financing balance by the deadline?
Interest accrues retroactively from the original purchase date at your card's regular APR. This means you will owe interest on the entire promotional balance for the entire promotional period, even though no interest was charged during that time. The interest is added to your balance and you owe it immediately.
Can I hold both the Walmart Credit Card and the Walmart Rewards Card at the same time?
Yes. They are separate accounts issued by the same company but managed independently. Each has its own balance, due date, and interest rate. You can use both cards and manage them through separate online accounts.
Do these cards have a grace period?
Yes, but only if you pay your full statement balance by the due date. If you carry a balance from month to month, the grace period does not apply and interest accrues on new purchases immediately.
What is the difference between the cash back I earn and a statement credit?
Cash back is a reward you earn on purchases. On the Walmart Credit Card, it appears as a credit on your statement that reduces what you owe. On the Walmart Rewards Card, it can be applied as a statement credit or requested as a check or direct deposit. Either way, it is money back to you, not a discount applied at the point of sale.