The world of online shopping continues to evolve as time goes on. With technology becoming more sophisticated, there are now different methods to pay for your online transactions. Nevertheless, credit card payments continue to be prevalent when it comes to online shopping. This is where having your own store-specific cards comes in handy – such as the Walmart Credit Card.
There are a lot of perks to having a Walmart Credit Card, especially if you’re a frequent patron of the retail giant. But how exactly should you go about your Walmart Credit Card application? What are the benefits to having such a card anyway? If you’re a little overwhelmed, don’t worry. We’re here to help make things a little more digestible for you, whether it be deciding on which Walmart Card to get or if you’re just here to know the basics of the Walmart Credit Card.
What is the Walmart Credit Card?
Officially known as the Capital One Walmart Rewards Card, this credit card offers cash back rewards when you make purchases at Walmart stores. The card also covers other Walmart purchases, whether transactions are made online (on Walmart.com) or through the Walmart app. Additionally, it can be used at Walmart and Murphy USA gas stations as well.
What is the Walmart MasterCard?
Longtime Walmart patrons may remember when Walmart actually offered two different store credit cards. Previously, customers had the option to choose between the basic Walmart Credit Card and a Walmart MasterCard. Whereas the former was limited to Walmart stores, the Walmart MasterCard could be used and accepted in different other stores.
However, today, Walmart has everything all wrapped up in one simple credit card. The current Walmart Credit Card still offers similar benefits that the former Walmart MasterCard had. This is on top of other perks that cardholders can benefit from. Furthermore, Walmart still offers a separate Walmart Rewards Card, which is a card that can be used exclusively for Walmart purchases only.
What is the Walmart Rewards Card?
In comparison to the Walmart Credit Card, the Walmart Rewards Card is for purchases and transactions made at Walmart stores only. Upon approval of a Walmart Rewards Card application, cardholders can enjoy the same 5% cash back perk for the first 12 months. This is when using Walmart Pay for in-store transactions.
What are the Benefits of Having a Walmart Credit Card?
Walmart rewards its cardholders with a plethora of different benefits. These range from earning cash back, to using rewards for purchases and more.
Earn Cash Back
Cardholders of the Capital One Walmart Credit Card can earn cash back for different purchases and at different rates. The breakdown is as follows:
- 5% cash back at Walmart.com. This includes pickup and delivery of Walmart.com orders.
- 2% cash back in Walmart stores and gas stations. Cardholders can also earn 2% cash back when they use their Walmart Credit Card Capital One at restaurants and on travel.
- 1% cash back everywhere else MasterCard is accepted.
As you can see, the current Walmart card still offers the 1% cash back benefit from the previous Walmart MasterCard. With that said, the Walmart Credit Card is not limited to purchases you make at a Walmart store alone. Much like the original Walmart MasterCard, the current credit card that Walmart offers can also be used for other, non-Walmart purchases.
In addition to earning these cash back perks is an introductory offer of 5% cash back in stores with Walmart Pay. This welcome bonus applies to the first 12 months of your Capital One Walmart Rewards Card.
Accumulating Walmart rewards can be beneficial for you in the long run. This is because rewards can be redeemed for other perks and transactions. For starters, shoppers can redeem rewards for cash. They can choose to either receive a check or apply rewards as a statement credit.
Rewards can also be used to cover purchases when checking out at Walmart.com. There’s also the option of redeeming rewards for gift cards from not just Walmart, but other retailers as well.
Rewards can be redeemed for travel purposes, too. You can redeem rewards for flights and hotels – among other things – with your Walmart Credit Card. It’s clear, then, that there’s many cardholders can benefit from with just rewards redemption alone.
Besides the aforementioned benefits, Walmart’s Capital One Credit Card also offers security alerts for its cardholders. In the event Capital One notices any suspicious activity on your account, you will be notified of such activity as a precaution. Notifications are sent to cardholders via text, email, and phone.
Another perk is being able to easily manage your account through the Capital One Mobile App. The integration of the mobile app is convenient, as it allows you to view your balance, check transactions, and pay your bill – anytime, anywhere. And, in case you misplace or lose your card, you can simply lock it through the Capital One Mobile App as well.
On that note, cardholders can also take comfort in knowing they will not be held responsible for any unauthorized transactions in the event their card is lost or stolen. This 0% fraud liability perk can be invaluable for many cardholders, as it saves them from any unwanted charges.
Walmart Credit Card Application: How it Works
Now that you have an idea of what’s in store for you when you apply for a Walmart Credit Card, the next step is to actually go through with your credit card application. Applying for this card can be done in-store or online.
You will be required to submit some information about yourself beforehand. Such information includes the following:
- Your full name
- Age (cardholders must be 18 years old or older)
- Current address (should be US mailing address)
- Email address
- Phone number
- Social Security number
- Annual income
- Credit score
Take note that having a good credit score will improve your chances of getting your application approved. Ideally, it’s best to ensure that your credit score hovers around the 500 mark before handing in your credit card application.
Application via Walmart Stores
Applying for a Walmart card in-store is easy. Simply approach any store register or jewelry kiosk with your application. Do note that a valid photo ID and current credit card, if any, will be required.
Customers who apply via store register or kiosk will receive a Temporary Shopping Pass upon approval. The pass can be used at the store you applied and is valid for 24 hours only.
Online application for your Walmart card is just as simple. All you have to do is visit the Walmart.com Credit Card page. From here, you can proceed to your Walmart Credit Card login. Don’t have an account yet for your Capital One Walmart Credit Card login credentials? You can easily create an account on the same login page.
What Happens if Your Credit Card Application is Denied?
It’s worth noting that just like with some of the other best credit cards, there is a chance your Walmart Credit Card application may be denied. Should this be the case, you may approach Customer Service and apply for a reconsideration. Give it the best shot to lay out your reasons for approval.
To reiterate, having good credit scores will help your application immensely. Having a good credit history will be beneficial as well. Once approved, you will receive your new card within 10 days. Follow up Walmart Credit Card customer service if you have not yet received the card after 10 days.
How to Pay Your Walmart Credit Card
Walmart offers several ways to settle your Walmart Credit Card payment. One option is to make payments in any Walmart location via the customer service desk. Alternatively, you can pay your balance through online banking with Walmart’s online portal.
Another way to pay off Walmart credit is by mailing your bill. You can mail payments to the address found on the front of your statement that holds the payment coupon or account information. Additionally, you can call the phone number listed on your statement and provide the necessary payment information there.
Credit Score on Walmart Credit Cards
As mentioned, one factor to be considered when applying for a Walmart Credit Card is your credit score. This defines the level of creditworthiness you have as a cardholder based on your credit history. Your credit score can affect the lender’s decision to offer credit. Therefore, you must maintain a good credit score to make more credit card transactions.
Walmart considers applicants with good to excellent credit scores. Furthermore, having an idea of what your credit score is beforehand can help you better determine your chances of securing a Walmart Credit Card.
It thus goes without saying that shoppers with higher credit scores have a higher chance of getting their card application approved. In contrast, a store-only card – like the Walmart Rewards Card – can be good for applicants with a poor credit score.
Factors That May Affect Your Credit Score
Unstable income is one of the factors that can greatly impact your credit score. This is because it is an indication of a high possibility of your inability to pay for the amount spent. Other factors include delinquent accounts and bankruptcy issues. That said, it’s important to maintain a healthy credit history, regardless if you’re applying for a Walmart card or not.
How to Cancel Your Walmart Credit Card
There may come a time when your Walmart Credit Card will no longer be a good fit for you and your lifestyle. When that time comes, you’re going to want to cancel your Walmart card eventually.
So how does one go about cancelling their Walmart card? One easy method is by calling the customer service number found on your statement. From here, the available customer service agent will assist you in the cancellation process.
As an alternative to this, you can also close your Walmart card by mailing a letter to Capital One. The required mailing address will be found on your statement as well. We recommend sending the letter via certified mail for better delivery assurance.
You need not include the reason for your cancellation in the aforementioned letter. However, you will be required to supply necessary information, such as your name, billing address, account number, and a statement requesting to close the account. If the letter of request is a follow-up to the phone call cancellation, then be sure to also indicate the time and date of the call in your letter.
What Happens When You Cancel Your Walmart Credit Card?
The cancellation of your card means forfeiting the Walmart rewards that come with it. Additionally, as is the case with other credit cards – like the Home Depot Credit Card, for example – you will still be liable for any outstanding credit card balance even after cancellation. The variable annual percentage rate on your card will still apply on any remaining balances until you settle your account in full.
Why the Walmart Credit Card is Worth It
Whether or not you’re a frequent patron of Walmart, there’s no denying how beneficial having a Walmart card can be. The benefits that come with it are commendable. Though it may seem like having a Walmart card is only beneficial when you shop at Walmart, the perks that the card offers are still noteworthy. Overall, having a Walmart Credit Card is a win-win situation – so long as you have a good enough credit score and credit history to back it up.