Walmart OnePay CashRewards Card: Up to 5% Back for Loyalists
The Bottom Line
Devoted Walmart shoppers will get the most value from this card. But its rewards on purchases outside Walmart are underwhelming.
Rates, fees and offers
Rates, fees and offers
Annual fee
$0
Rewards rate
1.5%-5%
Bonus offer
Earn $35 cash back when you open a OnePay Card & spend $75+ within 30 days.
Intro APR
N/A
Ongoing APR
APR: 20.99%-31.49%, Variable
Cash Advance APR: Up to 32.99%, Variable
Penalty APR: Up to 31.49%, Variable
Balance transfer fee
Either $10 or 5% of the amount of each cash advance, whichever is greater.
Foreign transaction fee
0%
More details from Synchrony Bank
More details from Synchrony Bank
Detailed Review
Walmart's $0-annual-fee OnePay CashRewards Card is, like most store credit cards, best for brand loyalists who do much of their shopping with the retailer.
Of course, Walmart isn't just any retailer; it's one of the largest companies in the world. There's likely a location not far from you, and it sells just about everything you might need, from groceries to car tires to gas. As such, the OnePay CashRewards Card — issued by Synchrony Bank — could potentially be a top-of-wallet option for many people, especially those who have a Walmart+ membership, which unlocks 5% cash back on purchases with the brand. That's a tough rate to beat.
But for more casual shoppers who don't pay the $98-a-year Walmart+ membership fee, the card's rewards top out at 3% back at Walmart. That's still good, but you can find other cards that can earn that much on Walmart purchases, no membership required.
And Walmart+ membership or not, the OnePay CashRewards Card features no other bonus category. The best you'll do on spending outside of the brand is 1.5% back, a rate that's fairly easy to top these days.
The OnePay CashRewards Card is a Mastercard that can be used essentially anywhere, but Walmart also offers the OnePay Walmart Spend Card, which can be used only with Walmart. When you submit an application, you’ll first be considered for the OnePay CashRewards Card. If you don’t qualify for that card, you'll then be considered for the OnePay Walmart Spend Card, which doesn't offer standard ongoing rewards. Synchrony has a pre-qualification process that lets you see which version (if either) you would qualify for, with no initial hard credit check. Once you formally apply, a hard check will be conducted.
OnePay CashRewards Card: Basics
Card type: Store.
Annual fee: $0.
Rewards:
5% cash back on purchases at Walmart and Walmart.com for Walmart+ members.
3% back on purchases at Walmart and Walmart.com for non-members.
1.5% back on all other purchases.
Cash back is earned as OnePay points, which are worth 1 cent each and can be redeemed for statement credit or as a deposit into a OnePay Cash account. (You don't need a OnePay account to get the card, but you will need the OnePay app to manage it.) Points don't expire.
Walmart has had multiple co-branded credit cards over the years. Before the OnePay CashRewards Card, it offered the Capital One® Walmart Rewards™ Mastercard®, which was discontinued in 2024.
Welcome Bonus: Earn $35 cash back when you open a OnePay Card & spend $75+ within 30 days.
APR: The ongoing APR is 20.99%-31.49%, Variable.
Foreign transaction fee: None.
Compare to Other Cards
Benefits and Perks
Good rewards on Walmart spending
Like most store credit cards, the OnePay CashRewards Card earns its highest rates on brand spending. Holders earn 3x back for all Walmart purchases, and those who spring for a Walmart+ membership get an excellent 5x back for all Walmart purchases. Both of those rates are uncapped, so it’ll be easy to accumulate rewards if you do most of your spending with the retailer, especially given Walmart's wide-ranging merchandise.
Note that Walmart+ costs $98 (or $12.95 if you choose to pay monthly), which can be a barrier for some. But the membership also comes with a host of benefits like free delivery and shipping, fuel savings at member gas stations, access to video streaming platforms like Paramount+, and more. These benefits, coupled with the high rewards the card offers, can easily offset the cost of the membership.
Independent of the credit card, you can also earn points on Walmart purchases with OnePay, separately. If you open a OnePay cash account or have a OnePay wallet, you’ll earn 1 point per $10 spent at Walmart using a OnePay debit card. And if you have OnePay Cash+ status, you’ll earn 3 points per $1 on up to a total of $150 spent per month at Walmart using your OnePay debit card. To get OnePay Cash+ status, you must receive direct deposits of at least $500 or more in the current or previous month into your account, or have an account balance of $5,000 or more at the end of the previous month.
Redemption flexibility
Compared with general-purpose rewards credit cards, co-branded store cards typically come with restrictive redemption options. But the OnePay CashRewards Card offers cash back, as opposed to "store credit" or "reward dollars" or "certificates." (Technically speaking, the card earns "points," but those points are worth an industry-standard penny each when redeemed for cash back, so it's considered a cash-back card.)
You can receive that cash back as a statement credit or as a deposit into a OnePay Cash account, meaning you can ultimately use your earnings toward whatever you like, instead of just toward more Walmart merchandise.
Also unlike a lot of other store cards, your points (and thus your cash back) won't expire. However, you must have a minimum of 25 OnePay points to redeem.
Good travel companion
The OnePay CashRewards Card doesn’t charge a foreign transaction fee, so it's a good card to take with you on your travels. The card operates on the Mastercard network, which means it also comes with a host of built-in benefits like access to Mastercard’s global emergency services and a host of additional travel-related perks.
Drawbacks and Considerations
The card's 5x rate is conditional
As noted above, you need a Walmart+ membership to earn the OnePay CashRewards Card’s most lucrative 5x rate. That membership comes with useful perks that can make up for its yearly fee, but still, paying nearly $100 annually might not be feasible or worth it for you.
If you’re a more casual Walmart shopper and don't want to pay a yearly membership fee, consider instead a rotating bonus category card, like the $0-annual-fee Chase Freedom Flex® or the $0-annual-feeDiscover it® Cash Back, which have featured Walmart as a 5% bonus category in the past. The Discover it® Cash Back, for instance, earns 5% cash back on up to $1,500 in combined spending per quarter in rotating bonus categories (that you must activate), and then 1% cash back on all other purchases. Previous bonus categories have included things like grocery stores, wholesale clubs, gas stations and Walmart.com. The card's annual fee is $0.
You might also consider a card that offers high rewards for online purchases, including those made on Walmart.com.
The 'everything else' rate is beatable
Outside of Walmart purchases, the card offers 1.5% cash back. That rate isn't substandard, especially if you’ve got the majority of your everyday spending covered by shopping at Walmart. However, there are cards that can get you a flat 2% back or more on all your purchases. And if the retailer isn’t your go-to, you'll get better value from a general no-annual-fee rewards credit card that offers higher rewards in categories that better match your spending habits.
It lacks retailer-specific benefits
If you have a Walmart+ membership, you get benefits like free shipping and same-day delivery on eligible offers. However, the OnePay CashRewards Card itself doesn’t offer added retail-related benefits like free shipping, discounts on merchandise or an interest-free period like some comparable retail cards do. For example, the Target Circle™ Credit Card gets you free standard shipping on eligible online orders, early access to exclusive offers and certain promotions for holders.
How To Decide If It's Right For You
Die-hard Walmart shoppers will find the OnePay CashRewards Card valuable. And if you already have a Walmart+ membership or it makes sense for you to spring for one, the card will reward you generously with its 5x rate.
For non-loyalists? Less so. You’d be better off with a card that earns rewards in categories that match your spending habits.
This card earns 5% cash back in rotating categories that you activate (on up to $1,500 per quarter in spending), and 1% on all other spending. It also comes with a unique welcome bonus: INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
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Methodology
NerdWallet reviews credit cards with an eye toward both the quantitative and qualitative features of a card. Quantitative features are those that boil down to dollars and cents, such as fees, interest rates, rewards (including earning rates and redemption values) and the cash value of benefits and perks. Qualitative factors are those that affect how easy or difficult it is for a typical cardholder to get good value from the card. They include such things as the ease of application, simplicity of the rewards structure, the likelihood of using certain features, and whether a card is well-suited to everyday use or is best reserved for specific purchases. Our star ratings serve as a general gauge of how each card compares with others in its class, but star ratings are intended to be just one consideration when a consumer is choosing a credit card. Learn how NerdWallet rates credit cards.
About the author
Funto Omojola
Lead Writer & Content Strategist
