Walmart's latest credit card offer targets holiday shoppers — is it worth it?
This holiday shopping season will be different than any other.
With social distancing protocols in place due to the pandemic, expect fewer in-store crowds and more frequent sales throughout the season. That, along with online shopping, should replace the typical in-person shopping event that is Black Friday.
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Walmart is one of those retailers ditching their regular Black Friday model. Instead, Walmart will have three separate savings events spread across the month of November. To coincide with the holiday season, Walmart is launching a new, limited-time sign-up bonus on the Capital One® Walmart Rewards® Card.
New cardholders will get a $50 bonus after spending $300 in the first three months after approval. This offer is valid for applicants at Walmart stores beginning Nov. 1, 2020, through Dec. 26, 2020, and for those who apply online from Nov. 17, 2020, through Dec. 1, 2020.
Related: Best cards for holiday shopping
The information for the Capital One Walmart card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
The offer can be combined with the existing promotion for 5% cash back at Walmart stores during the first 12 months after approval when using Walmart Pay.
Other perks on the cash-back earning Walmart card include:
- 5% cash back at Walmart.com (including contact-free Pickup and Delivery)
- 2% cash back on Walmart in-store purchases
- 2% cash back on restaurants and travel, including food delivery
- 1% back everywhere else Mastercard is accepted
Related: Best no-annual-fee credit cards
Earlier this year, Walmart also introduced its Amazon Prime competitor, Walmart+.
Walmart+ subscribers can take advantage of their benefits as a Walmart Rewards cardholder. That includes a 5% "Scan and Go" in-store discount (for 12 months after approval) and 2% cash back on fuel purchases at Walmart and Murphy USA Fuel Stations on top of the five-cent fuel discount you'll receive through a Walmart+ membership.
Related: A guide to online grocery delivery services
Bottom line
With 5% back on Walmart items online and 2% back on dining and travel, the Walmart credit card has a solid return across a number of common spending categories. But similar to other store credit cards from Amazon and Target, it only makes sense to apply if you're loyal to the brand.
If Walmart is one of your go-to shopping destinations, now is certainly one of the best times to apply for the card. If you're only an occasional Walmart shopper, consider other card alternatives with no annual fee.
Related: Your guide to maximizing shopping portals for your online purchases
TPG featured card
at Capital One's secure site
Terms & restrictions apply. See rates & fees.
| 5X miles | Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel |
| 2X miles | Earn unlimited 2X miles on every purchase, every day |
Pros
- Stellar welcome offer of 75,000 miles after spending $4,000 on purchases in the first three months from account opening. Plus, a $250 Capital One Travel credit to use in your first cardholder year upon account opening.
- You'll earn 2 miles per dollar on every purchase, which means you won't have to worry about memorizing bonus categories
- Rewards are versatile and can be redeemed for a statement credit or transferred to Capital One’s transfer partners
Cons
- Highest bonus-earning categories only on travel booked via Capital One Travel
- LIMITED-TIME OFFER: Enjoy $250 to use on Capital One Travel in your first cardholder year, plus earn 75,000 bonus miles once you spend $4,000 on purchases within the first 3 months from account opening - that’s equal to $1,000 in travel
- Earn unlimited 2X miles on every purchase, every day
- Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel
- Miles won't expire for the life of the account and there's no limit to how many you can earn
- Receive up to a $120 credit for Global Entry or TSA PreCheck®
- Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
- Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
- Transfer your miles to your choice of 15+ travel loyalty programs
- Top rated mobile app