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Walmart's latest credit card offer targets holiday shoppers — is it worth it?

Oct. 27, 2020
3 min read
Walmart's latest credit card offer targets holiday shoppers — is it worth it?
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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.

(Photo by John Gribben/The Points Guy)

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:

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  • 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

Featured image by Sandeep.Mishra / Shutterstock

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How we chose these cards

Our points-obsessed staff uses a plethora of credit cards on a daily basis. If anyone on our team wouldn’t recommend it to a friend or a family member, we wouldn’t recommend it on The Points Guy either. Our opinions are our own, and have not been reviewed, approved, or endorsed by our advertising partners.
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TPG featured card

Best for no-frills cash-back rewards
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3 / 5
Go to review

Rewards

2% cash-back
2%Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

Intro offer

no offer

Annual Fee

$0

Recommended Credit

670-850
Excellent, Good
Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

Why We Chose It

For some, all they really need is a good cash-back card with no annual fee so that they don't have to stress about whether or not they're maximizing every single purchase. Instead, just earn 1% cash back at the register and 1% cash back when you pay off your bill. You can redeem you rewards by requesting a check, a statement credit or direct deposit into your Citi checking or savings account.

Pros

  • Earning 2% back on every purchase is an industry-leading return on everyday spending for a no-annual-fee credit card.
  • Now that you have the ability to convert rewards to ThankYou points with an eligible card, your redemption options are even more flexible.
  • It’s great for those looking to consolidate debt, since it offers new cardmembers 18 months of 0% intro APR on balance transfers made. After that, the variable APR of 17.74% - 27.74% applies.

Cons

  • Those looking to make a balance transfer will have to pay 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.74% - 27.74%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
Best for no-frills cash-back rewards
TPG Editor‘s Rating
Card Rating is based on the opinion of TPG‘s editors and is not influenced by the card issuer.
3 / 5
Go to review

Rewards Rate

2%Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • Intro Offer

    no offer
  • Annual Fee

    $0
  • Recommended Credit
    Credit ranges are a variation of FICO© Score 8, one of many types of credit scores lenders may use when considering your credit card application.

    670-850
    Excellent, Good

Why We Chose It

For some, all they really need is a good cash-back card with no annual fee so that they don't have to stress about whether or not they're maximizing every single purchase. Instead, just earn 1% cash back at the register and 1% cash back when you pay off your bill. You can redeem you rewards by requesting a check, a statement credit or direct deposit into your Citi checking or savings account.

Pros

  • Earning 2% back on every purchase is an industry-leading return on everyday spending for a no-annual-fee credit card.
  • Now that you have the ability to convert rewards to ThankYou points with an eligible card, your redemption options are even more flexible.
  • It’s great for those looking to consolidate debt, since it offers new cardmembers 18 months of 0% intro APR on balance transfers made. After that, the variable APR of 17.74% - 27.74% applies.

Cons

  • Those looking to make a balance transfer will have to pay 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).
  • Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
  • To earn cash back, pay at least the minimum due on time.
  • Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 17.74% - 27.74%, based on your creditworthiness.
  • Balance Transfers do not earn cash back. Intro APR does not apply to purchases.
  • If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.
  • There is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. After that, your fee will be 5% of each transfer (minimum $5).