Walmart, the country’s largest retailer, accepts Visa, MasterCard, Discover and American Express credit cards, in addition to its own store credit cards. It has two Walmart-branded credit cards that offer additional benefits to those who shop regularly at Walmart in store and online, as well as those who fuel up at Walmart and Murphy USA gas stations.
In the Nerds’ analysis, unless you spend a lot of money online at Walmart.com, you’re better off looking to a flat-rate cash-back credit card than going with a Walmart credit card.
What Walmart credit cards are available?
Walmart offers two credit cards:
- The Walmart Credit Card. This is a store card, accepted only at Walmart, Walmart.com, Murphy USA gas stations and Sam’s Club.
- The Walmart MasterCard. This card is accepted anywhere that takes MasterCard.
The rewards program is the same on both Walmart credit cards. You get:
- 3% cash back on purchases from Walmart.com. This includes items you order online and then pick up in the store.
- 2% cash back on purchases from Murphy USA and Walmart gas stations.
- 1% cash back on all other purchases, including those from brick-and-mortar Walmart stores.
All cash back is given in the form of a credit on your next statement. So if you earn $5 in rewards one month, you’ll automatically receive a $5 credit on the next month’s statement.
As of March 2017, the cards were also offering a sign-up bonus of sorts: 10% off your first purchase, up to a maximum of $25. If you apply for the card in-store, you have to make your first purchase that day. If you apply online, you have to make a purchase online.
The interest rate on the Walmart Credit Card is rather high. According to Synchrony Bank, the issuer of the card, the APR as of March 2017 was 23.40%. The APR on the Walmart MasterCard was 17.40%, 20.40% or 23.40%, depending on your credit. However, Synchrony says in the cards’ terms and conditions that it expects only “a limited number of applicants” to qualify for the lower rates.
Should you get a Walmart credit card?
The biggest problem with Walmart’s credit cards is that they don’t give you any extra rewards for actually shopping at Walmart stores, which should be the main benefit of a store-branded card. The 3% rewards rate is available only at Walmart.com. Go to the physical store, and you get 1%. If you do a ton of online shopping through Walmart, this card might be worth your while. But if your Walmart experience is mostly in-store, you can get a better rate on many other cards.
Further, if you’re the type of person who likes to “save up” credit card rewards to put toward one big purchase, be aware that you can’t do that with a Walmart credit card. Your rewards are always turned into statement credit the next month.