Signing up for credit cards through partner links earns us a commission. Terms apply to the offers listed on this page. Here’s our full Advertising Policy.
INSIDER SECRET: You can only have up to two personal Capital One branded cards, like the Capital One® Venture® Rewards Credit Card or the Capital One® Savor® Cash Rewards Credit Card at the same time, but cobranded cards (Walmart cards, etc.) aren’t included in this restriction.
Starting Sept. 24, 2019, applications will be open for two new Walmart credit cards, which will be issued by Capital One. If you are a current Walmart cardholder you will be automatically converted to one of the new cards on Oct. 11, 2019.
Let’s take a look at the benefits of each card.
New Capital One Walmart credit cards
As an intro offer on both of the new cards, you’ll earn 5% back on in-store Walmart purchases made with the Walmart Pay app for the first 12 months. If you are a current Walmart cardholder you will be able to take advantage of this introductory offer through Oct. 14, 2020.
Both cards also have no foreign transaction fees and no annual fees. In addition to that, the Capital One Walmart Rewards credit card will earn:
- 5% back at Walmart.com (including grocery pickup and delivery)
- 2% back for restaurant and travel purchases
- 2% back on Walmart purchases made in-store (outside of the intro offer period)
- 1% back on all other purchases
And the Walmart Rewards card (exclusively for Walmart purchases) will earn:
- 5% back at Walmart.com and through the Walmart app
- 2% back in-store at Walmart and Walmart gas stations
If you do most of your shopping at Walmart, the potential to earn 5% back is a solid deal, on par with the 5% back you’d get at Amazon with an Amazon cobranded card. The biggest drawback is that after the first year, you’ll only earn 2% back on in-store purchases (made through Walmart Pay), so it makes the card a bit less useful. And it isn’t the best credit card for restaurants or a top credit card for travel purchases.
You will be able to redeem rewards for gift cards, statement credits or travel (through the Capital One travel portal), so you aren’t just limited to redeeming your rewards at Walmart.
For the latest tips and tricks on traveling big without spending a fortune, please subscribe to the Million Mile Secrets daily email newsletter.
Featured image by QualityHD/Shutterstock.