Walmart Rewards™ Mastercard® Review

Dec 17, 2024 4:03 PM UTC

The Bottom Line

The Walmart Rewards Mastercard is ideal for frequent Walmart shoppers who want to spread out payments on larger purchases without paying much interest. It offers 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores and the ability to pay in installments. Additionally, you can earn up to $45 in Walmart Reward Dollars when you sign up. However, the rewards can only be redeemed at Walmart, and the card lacks additional benefits or insurance coverage beyond purchase assurance and extended warranty.

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Walmart Rewards™ Mastercard®

Walmart Rewards™ Mastercard®

1.7

Finly Rating

APPLY NOW

on Walmart's website

Welcome Bonus

$45 on Approval

Rewards Rate

1% - 1.25%

Cash Back

Annual Fee

Interest Rates

20.89% - 26.99% / 22.97% - 27.99%

RECOMMENDED CREDIT SCORE

300

Poor

560

Fair

660

Good

725

Very Good

760

Excellent

Get your free credit score

Card Details

Rewards

1.25% cashback on Walmart store and Walmart.ca purchases
1% cashback on all credit card purchases.

Insurance

Coverage

Purchase Protection
90 days

Eligibility

Credit Score
Good
Annual Income
N/A

Card Details

Interest Rates

Purchase APR

20.89% - 26.99%

Cash Advance APR

22.97% - 27.99%

Fees

Annual Fee

Additional Cards

Eligibility

Minimum Individual Income

N/A

Minimum Household Income

N/A

Credit Score Estimate

Good

Type

Card Type

Credit

Reward Type

Cash Back

Pros & Cons

Pros

Installment Payments: Allows you to pay for Walmart purchases in installments over six months.
Walmart Rewards: Earn 1.25 Walmart Reward Dollars for every dollar spent at Walmart stores.
Sign-Up Bonus: Get up to $45 in Walmart Reward Dollars when you sign up.

Cons

Limited Redemption: Rewards can only be redeemed at Walmart and Walmart.ca.
Lower Rewards: Offers lower rewards compared to other store and cashback credit cards.
Minimal Benefits: No additional benefits or insurance coverage aside from purchase assurance and extended warranty.

Our Detailed Review

Walmart Rewards MasterCard is one of the better-known credit cards in Canada, especially for people who buy at Walmart. Pretty much every time you check out at Walmart, you are advertised to get this card!

We at FinlyWealth are not the biggest fan of this card and would rate it as a very average card. Let's get into the details of why we think that.

The Rewards

How You Earn Rewards

The rewards on this card are very straightforward:

1.25% on Walmart (in-store) and
http://walmart.ca/
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Walmart.ca (online) purchases.
1% on everything else.

You will earn these rewards in Walmart dollars, so you can't redeem them for any purchases, and you can only redeem them for a future Walmart purchase. Psychologically, many people get very happy when they see a good discount applied to their groceries from time to time, so if you are in this group, you can go for this card.

While there are many cards out there that have worse rewards than the Walmart card, there are also many free cards that can beat the reward rate of Walmart Rewards by a huge margin.

Reward comparison to other popular no annual fee credit cards

	Walmart Rewards™ Mastercard®	Simplii Financial™ Cash Back Visa* Card	American Express® Green Card
Welcome Bonus	$45 on Approval	8% cash back† up to $1,000 in spending	Up to 10,000 points ($210 value)
Earn Rates	1.25% cashback on Walmart store and Walmart.ca purchases 1% cashback on all credit card purchases.	4% cash back on eligible restaurant, bar, and coffee shop purchases up to $5,000 spent per year† 1.5% cash back on gas, groceries, drugstore, and pre-authorized payments up to $15,000 spent per year† 0.5% cashback on all other purchases†	1x point per $1 spent on all purchases
Insurance Included	1 type Purchase Protection 90 days	2 types Purchase Protection Up to 90 days Extended Warranty Up to 1 year	2 types Purchase Protection 90 days Extended Warranty Up to a year
Perks	None	None	2 perks Amex Experiences™ With Amex Experiences™ and Front Of The Line® Amex Presale Tickets, American Express Cardmembers get access to amazing events in Canada Extra points 2 points on Amex Travel Online purchases
Annual Fee	$0	$0	$0
Income Requirements	N/A	$15,000 personal or $15,000 household	N/A
Apply Now	APPLY NOW	APPLY NOW	APPLY NOW

Compared to both these cards, the Walmart card earns much fewer rewards and offers fewer benefits; therefore, most people should opt for those instead of the Walmart card.

Welcome Bonus

The welcome bonus for this card is very straight forward. Upon approval you earn $45 in reward which could be used for your Walmart purchases.

1 Benefit of Walmart Rewards

1. Easy approval and No Annual Fee

The Walmart Reward does not have any requirements on Income and also approves most people with a credit score closer to the lower side of the credit score range, so getting this card is easy. In addition, not having to pay an annual fee is always nice.

2 Downsides of Walmart Rewards

1. Average rewards

As mentioned, most of the time, the Walmart Rewards card isn't the best credit card to use, even for Walmart purchases! Therefore, looking for some other cards if you are planning to maximize your rewards would be a great idea.

2. Very Weak insurance and benefits

This card only comes with purchase protection and not even an extended warranty, which is a benefit that almost all free and paid credit cards in Canada have.

There are options to buy travel insurance and other benefits for a monthly fee, but that is not ideal. You can opt-in for another card that already has those benefits and get access to those benefits for free!

Final Verdict

The Walmart reward card is a very average card in terms of rewards and a poor card for benefits, so it's recommended to look around for other cards because you will most likely be able to find one that's better for you!