Walmart Rewards™ World Mastercard® Review

Walmart Rewards World Mastercard Credit Card 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.

Personally, I'm not the biggest fan of this card and would rate it as a very average card. Let's get into the details of why this card is not the best card to go for most people.

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.

Personally, I will 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.

If you want to see which credit card out there would give you the most rewards, then check Finlywealth's reward calculator page to find the best credit card for you!

Reward comparison to other popular free cashback credit cards

So, let's compare this credit card to a few popular credit cards. There are a few that the Walmart Rewards World Mastercard would beat in terms of rewards and a few that the Walmart Rewards World Mastercard card would get beaten.

Walmart Rewards World vs BRIM:

BRIM gives 1% on all purchases; therefore, it would match the 1% reward rate on all Non-Walmart purchases of the Walmart Reward card. But Walmart reward gives 1.25% on Walmart purchases and gas and 3% on online Walmart purchases and therefore would have slightly higher rewards than BRIM. So Walmart Rewards Wins!

Walmart Rewards World vs SimplyCash® Card from American Express:

SimplyCash gives 2% cash on gas and groceries and 1.25% on other purchases. Therefore, the only place where Walmart World would give better rewards than SimplyCash is on online Walmart purchases. Therefore, for a card that could be used for all your purchases, the SimplyCash card would be slightly better than Walmart Rewards World.

Walmart Rewards World vs 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.