Walmart Rewards™ World Mastercard® Review

Walmart Rewards World 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 alongside the Walmart Rewards Mastercard!

This card is a slightly better version of the Walmart Rewards Mastercard because it has a $100K household income requirement and slightly better reward rates. But in general, we don't think this card is one that people should go for, and there are many better alternatives around.

The Rewards

How You Earn Rewards

The rewards on this card are very straightforward:

• 3% cashback on Walmart.ca
• 1.25% on Walmart (in-store) and gas 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, I have seen many people get very happy when they see a good discount applied to their groceries occasionally, so if you are in this group, you can go for this card.

We recommend you get this card only and only if I have huge spending on the Walmart.ca website because the 3% reward rate is pretty decent. But the 1.25% reward on in-store and gas purchases can easily be beaten by many other cards. There are few people who mainly buy groceries from Walmart.ca, and that's why I don't recommend this to most of the population.

Reward comparison to other popular free cashback credit cards

Let's compare this credit card to a few popular no annual fee credit cards.

SimplyCash® Card from American Express:

This card provides a higher base cashback rate, is easier to qualify for and has more important categories in it's rewards category, so it will provide more rewards compared to the Walmart World Elite card.

Rogers Mastercard:

When you have a qualifying Rogers, Shaw, or Fido service, the Rogers Mastercard earns 2% on all purchases. Again, while the purchases on online purchases from Walmart will earn 3%, the Rogers card will almost give double the reward rate of Walmart Rewards World on all other purchases. In addition the Rogers Mastercard does not have any household income requirement, making it an easier card to get approved for. Therefore, for a card to make all your purchases with, the Rogers Mastercard wins by a landslide.

Welcome Bonus

The welcome bonus for this card is very straightforward. Upon approval, you earn a $20 statement credit and $15 after one purchase at Walmart and another place.

You will also be able to get $10 in rewards if you switch to paperless statements, making the total sign-up bonus you can get from these three sources $45.

1 benefits of Walmart Rewards World

1. No Annual Fee

This card comes with No annual fee, which is always a nice thing for a credit card not to have to pay a fee.

3 downsides of Walmart Rewards

1. Average rewards

It's important to note that often, the Walmart Rewards card may not be the optimal choice for credit card use, including for purchases at Walmart in-store. Consequently, exploring alternative cards could be wise if your goal is to maximize your reward benefits.

2. Very Weak insurance and benefits

The card offers only purchase protection, lacking even an extended warranty - a feature commonly found in both no-cost and premium credit cards in Canada.

While there's an option to purchase additional coverage, like travel insurance for a monthly fee, this isn't the most practical solution. Instead, choosing a different card that includes these benefits as standard, providing them at no extra cost, might be more advantageous.

3. High Income requirements

This card has a high-income requirement. While there are many other credit cards in Canada that require a high income, most of them come with great rewards and benefit lists. Walmart World offers almost nothing to be excited about for a card with a $100K income requirement.

Final Verdict

If you want to use this card for all your purchases, I advise you to reconsider and find another card because there are many other cards that will beat Walmart Rewards in terms of rewards and benefits.

The only case I would recommend getting this card is if you do a lot of shopping on Walmart.ca. You can get this card just to make your online purchases from Walmart or use another card for the rest of your purchases.