Walmart Rewards Mastercard Review: Is It Worth It?

If you’re a frequent shopper at Walmart, the Walmart Rewards Mastercard caught your attention. With the potential to earn rewards on every purchase, it promises to help you save money while shopping. But is it worth it, and how does it compare to other cashback or rewards credit cards? In this blog post, we’ll explore everything you need to know about the Walmart Rewards Mastercard and help you decide if it’s right for you.

What Is the Walmart Rewards Mastercard?

The Walmart Rewards Mastercard is a credit card issued by Walmart that allows you to earn rewards on your purchases. Unlike a store card that can only be used at Walmart, the Walmart Rewards Mastercard is a general-use credit card. This means you can use it anywhere Mastercard is accepted, but you’ll earn more rewards when shopping at Walmart.

Key Features of the Walmart Rewards Mastercard

• Annual Fee: $0
• Rewards:
  • 1.25% back on purchases made at Walmart stores and online at Walmart.ca
  • 1% back on all other purchases
• Interest Rate: 19.89% on purchases and 21.49% on cash advances
• Welcome Bonus: Varies depending on current promotions (typically includes bonus rewards on first purchases)
• Additional Benefits: Purchase assurance, extended warranty on eligible items, and optional balance protection.

Now that we’ve covered the basics, let’s explore the rewards, fees, and perks further to help you better understand whether this card aligns with your spending habits.

How Does the Walmart Rewards Program Work?

With the Walmart Rewards Mastercard, you earn points on every purchase. The points you earn can then be used to pay for future purchases at Walmart, either in-store or online. Here’s how the rewards breakdown works:

• 1.25% back at Walmart: Every time you shop at a Walmart store or on Walmart.ca, you’ll earn 1.25% back in Walmart Rewards. For example, $100 at Walmart will earn 125 points (which equals $1.25 in rewards).
• 1% back on all other purchases: Whether you buy groceries, fill up on gas, or pay your phone bill, you’ll earn 1% back on everything else. This makes it a solid choice for day-to-day spending.

Once you’ve accumulated rewards, redeeming them is easy. You can apply your Walmart Rewards points at checkout to reduce your purchase amount. The rewards don’t expire, and there’s no minimum requirement to start using them. Every dollar you spend adds up to future savings!

No Annual Fee

One of the Walmart Rewards MastercarMastercard’s most significant advantages is its fee. This makes it a low-maintenance card for anyone who wants to earn rewards without the added cost of paying a yearly fee. Whether you’re a casual shopper or you regularly buy from Walmart, not having to worry about an annual fee is a huge plus.

Welcome Bonuses and Promotions

Walmart often offers promotional bonuses for new cardholders. These can vary, but a typical offer might include extra rewards on your first few purchases or an incentive like earning 5% back on your first three months of spending at Walmart. When you apply, check for the latest offers to maximize your rewards.

Interest Rates and Fees

While the Walmart Rewards Mastercard has no annual fee, it’s essential to understand the interest rates that come with the card:

• Purchase interest rate: 19.89%
• Cash advance interest rate: 21.49%

These rates are standard for credit cards in Canada, but paying off your balance in full each month is essential to avoid paying interest on your purchases. The card also includes fees for cash advances, late payments, and over-the-limit transactions, so be mindful of your spending and expenses to avoid unnecessary charges.

Additional Benefits of the Walmart Rewards Mastercard

Aside from earning rewards, the Walmart Rewards Mastercard also comes with several additional perks:

• Purchase assurance covers eligible items you buy with your card against theft or damage for up to 90 days from the date of purchase.
• Extended warranty: This feature extends the manufacturer’s warranty on eligible items you buy with your card for up to an additional year, giving you more peace of mind when purchasing electronics or appliances.
• Balance protection (optional): This optional service helps cover your credit card payments in case of job loss, disability, or other life events that prevent you from making payments.

These benefits make the Walmart Rewards Mastercard more than just a rewards card, adding extra value to everyday purchases.

Who Is the Walmart Rewards Mastercard Best For?

The Walmart Rewards Mastercard is an excellent option if you shop at Walmart regularly, in-store or online. The 1.25% back on Walmart purchases may not seem like a lot at first, but it adds up quickly if you frequently buy groceries, household items, and other essentials from Walmart.

Additionally, the 1% cashback on all other purchases makes it an excellent all-around card for those who want to earn rewards on everything they buy without paying an annual fee. It’s not the highest cashback rate you’ll find on the market, but for a no-fee card, it offers solid rewards.

Pros of the Walmart Rewards Mastercard

• No annual fee: You can earn rewards without worrying about a yearly fee.
• 1.25% back at Walmart: It’s a great way to save if you frequently shop at Walmart.
• 1% back on all other purchases: Earn rewards on every purchase, even outside of Walmart.
• Flexible rewards: You can use your rewards to pay for anything at Walmart, and there’s no minimum redemption amount.

Cons of the Walmart Rewards Mastercard

• Limited bonus categories: The higher 1.25% rewards rate is only available at Walmart, so if you shop elsewhere for groceries or household items, other cards offer better rates.
• Standard interest rates: While the rewards program is solid, the interest rates align with most general credit cards, so you’ll want to pay off your balance monthly to avoid interest charges.
• No premium perks: If you’re looking for travel rewards, lounge access, or other premium benefits, this card doesn’t offer those. It’s a primary cashback card focused on Walmart shopping.

How Does It Compare to Other Rewards Cards?

When compared to other credit cards, the Walmart Rewards Mastercard’s most significant advantage is its simplicity and lack of fees. However, other cashback or store-specific credit cards may offer higher reward rates or additional perks. If you shop at various stores, it might be worth considering cards that offer higher rewards in more categories, such as groceries, gas, or travel.

The Walmart Rewards Mastercard is perfect for people who prefer to shop at Walmart and want a no-fee card with straightforward rewards.

Conclusion: Is the Walmart Rewards Mastercard Right for You?

If you shop at Walmart regularly and want to earn rewards on your everyday purchases, the Walmart Rewards Mastercard is a solid choice. The card’s no annual fee, flexible rewards, and added benefits like purchase assurance and extended warranty make it a convenient and valuable option for frequent Walmart shoppers.

However, suppose you don’t shop at Walmart often or want higher rewards on a broader range of purchases. In that case, you might want to explore other cashback or rewards cards that offer more flexibility and higher returns in different categories.

Ultimately, the Walmart Rewards Mastercard is a great way to earn rewards and save money on Walmart purchases without the hassle of annual fees.