Yes, Walmart offers two credit cards through Capital One

Walmart has two branded credit cards, both issued by Capital One. The Walmart Rewards Card is a standard Mastercard you can use anywhere. The Walmart Credit Card (sometimes called the store card) works only at Walmart and Sam's Club locations. Both cards earn cash back on purchases, but the rewards rates and annual fees differ between them.

Neither card requires an annual fee. Both are designed for people who shop at Walmart regularly and want to earn rewards on those purchases. The cards report to the three major credit bureaus, so using them responsibly can help build your credit history.

Key Takeaways

  • The Walmart Rewards Card is a Mastercard that works everywhere and earns 3% cash back at Walmart and Sam's Club, 1% at gas stations and on travel, and 1% on all other purchases.
  • The Walmart Credit Card (store card) only works at Walmart and Sam's Club but earns 5% cash back on Walmart.com purchases and 2% at Walmart and Sam's Club stores.
  • Both cards have no annual fee and report to credit bureaus, but approval depends on your credit history and current debt.
  • Cash back rewards are deposited as statement credits and do not expire as long as your account remains open.
  • You can apply for either card online through Walmart's website or in-store, and you will receive a decision within minutes for most applications.

The Walmart Rewards Card versus the Walmart Credit Card

The Walmart Rewards Card (Mastercard) earns 3% cash back at Walmart and Sam's Club, 1% at gas stations and on travel purchases, and 1% on everything else. You can use it at any merchant that accepts Mastercard. There is no annual fee. Cash back appears as a statement credit each month.

The Walmart Credit Card (store card) earns 5% cash back on Walmart.com purchases, 2% at Walmart and Sam's Club stores, and 1% everywhere else. Because it is a store card, it only works at Walmart, Sam's Club, and Walmart.com. It also has no annual fee. Cash back is credited to your account monthly.

The store card typically has lower approval requirements than the Mastercard version. If you have limited credit history or a lower credit score, you may be approved for the store card when you would not be approved for the Mastercard. However, the Mastercard is more flexible because you can use it outside Walmart.

How to apply and what happens after approval

You can apply for either card online at Walmart.com or in-store at a Walmart location. The online application takes about five minutes and asks for your name, address, Social Security number, income, and employment information. Capital One will make a decision within minutes in most cases.

If you are approved, you can use the card immediately in many cases. For online applications, you may receive a temporary card number to use right away, with a physical card arriving in the mail within 7 to 10 business days. In-store applications may issue a card on the spot or mail it to you.

If your application is denied, Capital One will send you a letter explaining the reason. Common reasons include insufficient credit history, too many recent credit inquiries, or existing debt that is too high relative to your income. You can reapply after addressing these issues, typically after waiting 30 to 90 days.

Interest rates, fees, and how balances work

Both Walmart cards charge interest on balances you do not pay in full by the due date. The interest rate (APR) varies by applicant and depends on your credit score and history. Capital One will tell you the APR before you complete your application. Rates typically range from 16% to 24%, but your actual rate depends on your creditworthiness.

Neither card charges an annual fee, a late fee, or a foreign transaction fee. However, if you miss a payment, Capital One may report it to the credit bureaus after 30 days. Missed payments damage your credit score and can lead to account suspension.

If you carry a balance, interest accrues daily on the unpaid amount. For example, if your APR is 20% and you have a $500 balance, you owe roughly $8.33 in interest per month (before any payments reduce the balance). Paying more than the minimum payment reduces the balance faster and saves you interest.

Cash back rewards and how they are credited

Cash back is earned on every purchase and credited to your account as a statement credit each month. The credit appears on your next billing statement and reduces the amount you owe. You do not receive cash directly; the reward is applied against your balance.

Rewards do not expire as long as your account remains open and in good standing. If you close the account, any uncredited rewards may be forfeited depending on the terms at the time of closure. Rewards are not earned on balance transfers, cash advances, or fees.

For the Walmart Rewards Card, if you spend $1,000 at Walmart in a month, you earn $30 in cash back (3%). For the store card, the same $1,000 in-store purchase earns $20 (2%). The difference is small on individual purchases but adds up over time if you shop at Walmart regularly.

What happens if you close your account

You can close either card by calling the number on the back of your card or logging into your online account. Closing the account stops you from making new purchases, but you still owe any existing balance. You must continue making payments until the balance is paid off.

Closing a credit card can affect your credit score in two ways. First, it reduces your total available credit, which can raise your credit utilization ratio (the amount you owe divided by your total credit limit). Second, it removes an active account from your credit history, which can lower the average age of your accounts. The impact is usually small if you have other open accounts.

If you want to keep the card open but stop using it, you can do that without closing it. Keeping the account open preserves your credit history and available credit, which is generally better for your credit score than closing it.

How to manage your account and avoid common problems

You can manage your Walmart card account online through Capital One's website or mobile app. You can view your balance, make payments, set up autopay, and download statements. Setting up automatic payments for at least the minimum amount due helps you avoid missed payments and late fees.

A common mistake is using the card for large purchases you cannot pay off quickly. If you charge $2,000 and pay only the minimum (usually 1% to 3% of the balance), you will pay interest for years. For example, a $2,000 balance at 20% APR with a 2% minimum payment takes about 5 years to pay off and costs roughly $1,200 in interest.

Another issue is applying for multiple cards in a short time. Each application triggers a hard inquiry on your credit report, which can lower your score by a few points. Multiple inquiries in a short period signal to lenders that you may be taking on too much debt, which can hurt your approval odds on future applications.

Frequently Asked Questions

Can I use the Walmart store card at other stores?

No. The Walmart Credit Card (store card) only works at Walmart, Sam's Club, and Walmart.com. If you need a card that works everywhere, the Walmart Rewards Card (Mastercard) is the option. The Mastercard can be used at any merchant that accepts Mastercard.

What is the difference between the two cards' rewards?

The store card earns 5% on Walmart.com and 2% in stores, while the Mastercard earns 3% at Walmart and Sam's Club. If you shop mostly online, the store card pays more. If you shop in-store and want rewards elsewhere, the Mastercard is better. The Mastercard also earns 1% on gas and travel, which the store card does not.

How long does it take to receive the physical card?

Physical cards typically arrive within 7 to 10 business days after approval. For online applications, you may receive a temporary card number immediately to use for purchases. In-store applications sometimes issue a card on the spot, but this varies by location.

What happens if I miss a payment?

If you miss a payment, Capital One will charge a late fee (the amount varies) and may report the missed payment to credit bureaus after 30 days. A missed payment damages your credit score and can lead to a higher interest rate on future credit products. Contact Capital One immediately if you cannot make a payment to discuss options.

Do I need a Walmart account to apply for the card?

No. You do not need a Walmart account to apply for either card. You only need a valid Social Security number, proof of income, and a current address. You can apply online or in-store without a pre-existing Walmart account.