With these 3 card offers, now is a great time to shop at Walmart

Oct 12, 2021

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If you’re a frequent Walmart shopper (and even if you aren’t), you should know that credit card issuers and shopping portal affiliates have seemingly conspired to make Walmart one of the most intriguing merchants of late 2021. If you’re smart, you can currently receive up to a 24% return (based on TPG valuations) for your Walmart spending. Just in time for the holiday season.

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Let’s take a look at the best rewards credit cards for Walmart spending, and learn how to combine those cards with a powerful online tool to potentially double your earnings.

The best credit cards for Walmart shopping

These three rewards cards are currently the best options for Walmart purchases thanks to earning bonuses or statement credits.

The information for the Discover it has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

In This Post

Card details of the best credit cards for Walmart shopping

The Platinum Card® from American Express

(Photo by Isabelle Raphael for The Points Guy)

Rewards at Walmart: The Platinum Card® from American Express now offers up to $155 in statement credits annually toward the monthly cost of Walmart+, a membership that provides free grocery delivery (on orders of $35 or more), free shipping, discounts on gas and more. (Plus Ups are excluded).The membership costs $12.95 per month, plus any local sales tax, so the Amex Platinum statement credits essentially mean cardmembers can enjoy complimentary membership. Enrollment required.

There’s also a targeted Amex Offer circulating for Amex Platinum cards (and possibly others) that provides bonus Membership Rewards for Walmart shopping. Through Nov. 25, 2021, you can earn 5 extra points per dollar when you use your card through Walmart.com. That’s a total of 6 points per dollar — an effective 12% return on your purchase, per TPG valuations.

(Screenshot courtesy of American Express)

Annual fee: $695 (see rates and fees)

Current welcome bonus: 100,000 bonus points after you spend $6,000 on purchases within the first six months of card membership. Because we value Membership Rewards at 2 cents each, we estimate this welcome offer to be worth $2,000 in travel.

Standout perks: This card is loaded with other annual statement credits, too. For example, cardmembers can expect:

  • Up to $200 in annual hotel credit on prepaid Amex Fine Hotels and Resorts or The Hotel Collection bookings with Amex Travel when you pay with your Amex Platinum.
  • Up to $200 in annual statement credits for incidental fees charged by one airline you select.
  • Up to $200 in Uber Cash for U.S. services per calendar year, split into monthly $15 credits for U.S. rides (with a $20 bonus in December).

APPLY HERE: The Platinum Card® from American Express

Related: Your ultimate guide to saving money with Amex Offers

Chase Freedom Flex

(Photo by John Gribben for The Points Guy)

Rewards at Walmart: The Chase Freedom Flex offers rotating 5% bonus categories each calendar quarter (up to $1,500 in purchases). From Oct. 1 to Dec. 31, 2021, you’ll earn 5% back (5x Ultimate Rewards points) with PayPal and Walmart on up to $1,500 in spending (activation required). That means you can earn up to $75 back by maxing out this current bonus.

Annual fee: $0

Current welcome bonus: $200 cash back (20,000 Ultimate Rewards points) after spending $500 on purchases within the first three months from account opening. 

Standout perks: This no-annual-fee card offers cell phone protection when you use it to pay your monthly bill. You’ll receive $800 in coverage per claim for theft or damage (maximum two claims and up to $1,000 total in a 12-month period). You may have to pay a $50 deductible, which is significantly lower than some other cards that offer phone protection.

Also, when you register before Dec. 31, 2021, you’ll get three months of complimentary DashPass from DoorDash. That means free delivery on eligible orders, as well as reduced service fees. After three months, you can purchase nine months of DashPass for 50% off.

Read our review of the Chase Freedom Flex to learn more about the card.

APPLY HERE: Chase Freedom Flex

Discover it Cash Back

Rewards at Walmart: Similar to the Chase Freedom Flex, the Discover it Cash Back debuts new 5% rotating bonus categories each quarter. Through Dec. 31, 2021, you’ll earn 5% cash back with Amazon.com, Walmart.com and Target.com on up to $1,500 in spending (activation required). That means you can earn up to $75 back with this bonus category.

Just note that Discover stipulates you must spend through Walmart.com, specifically, while the Chase Freedom Flex is more generally Walmart, so you can use it at stores as well.

Annual fee: $0

Current welcome bonus: Discover will match all cash back you earn during your first 12 billing periods (or 365 days, whichever is longer). In other words, if you open this card, you’ll get an effective 10% back at Walmart.com, through Dec. 31, 2021 — and 10% back on any other rotating bonus categories that might pop up next year. They’re often quite easy to maximize.

Standout perks: Not much to write about here with the Discover it. The card does waive foreign transaction fees, which is a solid benefit for a no annual fee card. That means it’s a good one to take when traveling abroad.

You can also freeze your account instantaneously with a simple on/off switch to prevent new purchases.

Read our review of the Discover it Cash Back to learn more about the card.

Stack credit card rewards with Shopping portals

Shopping portals are one of the most effective tools for saving money on purchases you planned to make anyway. When you begin shopping through an online portal, you will see the offers available for specific merchants, and then when you click on one, you will be redirected to the merchant’s actual website. The portal will track your spending and reward you when it identifies that you’ve made a purchase.

Shopping portals are handy because they give you the opportunity to earn rewards from more than one source. You’ll earn bonus points or cash back from the portal, but you’ll also earn any rewards your credit card racks up.

For example, Rakuten is currently offering 6% cash back, or 6 Amex Membership Rewards points, per dollar with Walmart (this offer could increase or decrease without warning). So if you were eligible for the Amex Offer above with 5 bonus points per dollar (for a total of 6 per dollar), you could first register for that.

Then you’d head over to Rakuten, click through to Walmart from there, and you’d end up earning a whopping 12 points per dollar on your purchase (at least on the up to $500 that the Amex Offer is good for). Based on TPG valuations, that’s worth an estimated 24% return on your spending.

You can use a shopping portal aggregator like Cashback Monitor to find high returns as well.

Bottom line

If at all possible, Walmart is a store worth directing your purchases through right now if you have one of the following cards:

These cards offer at least 5% back with purchases at Walmart (some restricted to online purchases) — and you can earn even more by stacking these returns with an online shopping portal. Rakuten currently offers 6% back (or 6x Membership Rewards) with Walmart.com. That’s too good to last, so jump on it while it’s available.

For rates and fees of the Amex Platinum, click here.

Featured photo by Scott Olson/Getty Images.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.