Walmart® Credit Card: Is It A Good Deal?

Walmart® Credit Card: Is It A Good Deal?

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.

Citi is an advertising partner.

The Walmart® MasterCard® and the Walmart® Credit Card are no longer offered by the issuer. Walmart now offers the following credit card through Capital One:

  • Card: Capital One® Walmart Rewards® Card
  • Welcome Bonus: Earn 5% cash back in Walmart stores for the first 12 months after approval when you use your Capital One® Walmart Rewards® Card with Walmart Pay – the quick and touch-free way to pay with your phone at Walmart.
  • Rewards Rate: 5% Cash Back At, including pickup and delivery. 2% Cash Back In Walmart stores, at restaurants and on travel. 1% Cash Back Everywhere else Mastercard® is accepted.
  • Credit Score Needed: Excellent/Good
  • Annual Fee: None
  • APR: 17.99% - 26.99% variable
  • Balance Transfer APR: 17.99% - 26.99% variable

Walmart® offers two credit card options to their customers: a store-only card and a MasterCard. Both give very little in terms of rewards, and have high APRs. If you can qualify for better credit card offers, we recommend looking elsewhere. The Walmart® credit cards don't have any perks that make them unique or especially rewarding for frequent shoppers at Walmart. These cards are, however, fairly easy to qualify for - meaning you do not need to have a good credit history to get approved. Therefore, if you do not have a FICO score above 630, and want to get savings on gas, these cards are worth considering.

Review: Are the Walmart Credit Cards A Good Value?

The Walmart® credit card options are best for people with low credit scores who can’t get better rewards credit cards elsewhere. They provide decent 0% financing options and some savings on gas purchases. The Walmart® MasterCard® will also get you a 1% savings on all purchases, regardless of where they are made. If your FICO score is below 630, there are probably few options that can provide you with discounts that are as good as this, and with no annual fee.

Good For…
Bad For…
Someone who buys gas from WalmartConsumers with a credit score above 630
Individuals with poor credit scores (below 630)Anyone who carries a balance month-to-month
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The best discount offered to Walmart credit card users is the 2.86% rewards rate on gas purchases with the store (based on gas prices as of publication). While this is a highly restricting benefit, it is among the best someone with bad credit can get. If you want better gas savings, see if you are eligible for cards that offer between 3% and 5% back on these purchases, such as the Sallie Mae Rewards Credit Card.

The 0% APR financing options are a nice perk, though we urge users to only use it on purchases that are absolutely necessary. Financing purchases can be a slippery slope that leads to buying things we don't really need - by breaking up the purchase into smaller increments we tend to forget about the total price. Ideally, you should be putting purchases onto your Walmart credit card that you can pay off completely at the end of each billing cycle.

Both Walmart credit cards come with 22.99% APR - which is higher than average, and means greater potential expenses. If you carry a credit card balance month-to-month, you should avoid getting a credit card with interest as high as this.

Bottom Line: If you already buy your gas at Walmart, and don't have the required credit history to get a top-of-the line gas credit card, we recommend the Walmart® MasterCard®. You'll also get 1% back on all other shopping, which at $0 annual fee is a fair deal.

Walmart® MasterCard® and Walmart® Credit Card Benefits

When you use the Walmart® MasterCard® or the Walmart® Credit Card at the pump in Walmart gas stations, you will get a 5¢ discount on every gallon you buy. As of writing this article, the average national price per gallon is $2.66. At this price point, the gas rewards rate when using these cards comes out to 1.9% ($0.05 / $2.66).

The Walmart® Credit Card is a store card that can only be used to shop at Walmart stores. The other variant by MasterCard® can be used and accepted in different stores.

The Walmart® MasterCard® will also reward all your other spending – you get 1% cash back on all purchases you make. Therefore, when shopping for gas we estimate that your effective rewards at today's rates will be 2.86% (thanks to the previously mentioned discount).

You may only redeem the 1% cash back statement credit in $5 increments – that means you must spend $500 before you get any rewards. Furthermore, any rewards you accumulate will expire 1 year after being issued, if they are not used. That means if you aren’t spending a minimum of $500 on the card every year, your rewards on this card will go to waste.

In-Store Financing

One of the other benefits available to Walmart credit card users are 6/12/18/24 month financing options. To qualify for this financing, you must download and print an online coupon, and pay for the purchase using your Walmart credit card.

Required Purchase Amount
6 Months$150 - $298.99
12 Months$299 - $428.99
18 Months$429 - $598.99
24 Months$599 +
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When you take advantage of this financing option, you will pay 0% APR on the purchase for the duration of the financing period. If you do not pay the purchase in full at the end of the financing period, you will have to pay either 16.9%, 19.9%, or 22.9% APR (depending on your credit worthiness).

How Does the Walmart® MasterCard® Compare to Other Credit Cards?

Unless you are an individual with poor credit, most other credit card options can provide you with far better savings than Walmart credit cards.

Some of the best gas credit cards provide rewards rates of 3%+ (compared to the current 2.86% estimate with the Walmart credit cards). As noted above, the FICO score requirement on the Walmart cards is low. Therefore, if your credit score is 630 or below, and you want to get some extra savings on gas, these cards might be a good option.

In all other spending categories, the 1% cash back you get with the Walmart® MasterCard® is subpar, when compared to the rates you can get with most decent cash back rewards credit cards. For example, the Citi® Double Cash Card – 18 month BT offer lets its users Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. That is a savings twice as good as what you'd get with the Walmart® MasterCard®.

Walmart® MasterCard® vs Sam's Club Mastercard

The Sam's Club Mastercard is, in all ways, a much better credit card than the Walmart® MasterCard®. As long as your budget contains any amount of gas, dining, or travel spending. The Sam’s Club credit card awards users 5% cash back on gas (on the first $6,000 per year, then 1%), 3% back on dining and travel, 1% back on other purchases Compare that to the Walmart® MasterCard®, which only does 2.86% back on gas (limiting you to purchases in Walmart gas stations), and just 1% back on everything else.

The Sam's Club Mastercard will pay out a maximum of $5,000 in cash back annually. To reach that threshold you would have to spend at least $100,000 on your card. If your annual budget comes nowhere close to that, you can be rest assured you won’t reach the rewards cap.

This graph charts the minimum and maximum rewards you can earn on two competing credit cards

Walmart® Credit Card vs Walmart® MasterCard®

If you’re set on getting a credit card from Walmart, the Walmart® MasterCard® will usually be a far better choice than the plain Walmart® Credit Card. The reason is flexibility – you can use the MasterCard® in places other than Walmart®, while the other version of the card can only be used with the superstore.

The regular Walmart® Credit Card does not come with the 1% cash back savings, which is another important consideration to make. Outside of the gas discount, the regular card offers nothing outside of credit and financing options. If your credit score is good enough, we urge users to sign up for the Walmart® MasterCard® - especially considering the two are identical in all other regards (APR, annual fees, etc.)

At a Glance

Walmart® Credit Card
Walmart® MasterCard®
Annual Fee$0$0
Can Be UsedOnly when shopping at WalmartAnywhere MasterCard® is accepted
RewardsNone1% cash back on all purchases
Discounts$0.05 discount per gallon of gas purchased with Walmart$0.05 discount per gallon of gas purchased with Walmart
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Joe Resendiz

Joe Resendiz is a former investment banking analyst for Goldman Sachs, where he covered public sector and infrastructure financing. During his time on Wall Street, Joe worked closely with the debt capital markets team, which allowed him to gain unique insights into the credit market. Joe is currently a research analyst who covers credit cards and the payments industry. He earned a bachelor’s degree from the University of Texas at Austin, where he majored in finance.

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How We Calculate Rewards: ValuePenguin calculates the value of rewards by estimating the dollar value of any points, miles or bonuses earned using the card less any associated annual fees. These estimates here are ValuePenguin's alone, not those of the card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.

Example of how we calculate the rewards rates: When redeemed for travel through Ultimate Rewards, Chase Sapphire Preferred points are worth $0.0125 each. The card awards 2 points on travel and dining and 1 point on everything else. Therefore, we say the card has a 2.5% rewards rate on dining and travel (2 x $0.0125) and a 1.25% rewards rate on everything else (1 x $0.0125).