Working hard in the background...
Working hard in the background...
Interest Rates
Purchase: 20.89% - 26.99%
Cash Advance: 22.97% - 27.99%
Annual Fees
Main Card: $0
Additional Cards: 0
Annual Income
Personal: N/A
Household: N/A
Credit Score Estimate
Welcome Bonus
$45 on Approval
Card & Reward Type
Card Type: Credit
Reward Type: Cash Back
Our Rating
1.7/5
Institution
Walmart
Insurance
Coverage
Purchase Protection
No additional benefits available for this card.
Pros
Cons
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 on this card are very straightforward:
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.
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 |
|
|
|
Insurance Included | 1 type
| 2 types
| 2 types
|
Perks | None | None | 2 perks
|
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.
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.
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.
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.
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!
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!