Are you a frequent shopper at Walmart (online or in-store) and want to earn rewards for future purchases? The Walmart Rewards Mastercard is a basic, no-annual-fee, cashback credit card offering up to 1.25% in rewards on purchases at Walmart, and 1% on purchases everywhere else.
The Walmart Rewards Mastercard is a good option for frequent shoppers, particularly if you want to spread out payments on big items without paying much interest. You can buy on credit, and pay the money back later with only a little interest.
In this Walmart Rewards Mastercard Review, we will explore this credit card’s features, benefits, and downsides and how it compares with other cards in Canada. We will also look at other product offerings in Walmart’s financing program.
Read on to learn more.
Our Take on Walmart Rewards Mastercard
The Walmart Rewards Mastercard is ideal for regular Walmart shoppers who want to finance big-ticket items with low-interest charges. It offers a range of benefits and rewards that can help you save money while shopping, making it a smart choice for maximizing your spending. Apply for the Walmart Rewards Mastercard today to enjoy a convenient and cost-effective shopping experience.
Walmart Reward Mastercard Review
How Does the Walmart Rewards Mastercard Work?
The Walmart Rewards Mastercard is a no-fee credit card in Canada that rewards you every time you shop at Walmart stores in Canada or online at Walmart.ca. The credit card pays Walmart Reward Dollars on every purchase, which you can redeem like cash for purchases at Walmart stores or Walmart.ca.
Whenever you shop at Walmart stores with your Walmart Rewards Mastercard, the credit card reader indicates how many Walmart Reward Dollars you earn and can redeem.
With your Walmart Rewards Mastercard, you can earn 5% cash back when you purchase online at Walmart.ca, 2% cash back when you purchase at Walmart stores and 1% cash back in Walmart Reward Dollars on all purchases elsewhere.
If you always shop for groceries at Walmart, this reward system will help you save a few bucks as 1 Walmart Reward Dollar equals $1 to spend at Walmart. So, if you spend $3,000 on a flat-screen TV at Walmart, you will earn almost $150 points.
However, you will have to redeem your rewards starting at a minimum of $5, and the earn rate at Walmart only applies to the money you spend pre-tax. When shopping online at Walmart.ca, select your Walmart Rewards Mastercard as your payment method and earn rewards for all your purchases.
You can earn up to $45 in bonuses when approved for the Walmart Rewards Mastercard. Also, you get a $20 bill credit if you spend up to $50 on the day your card is approved, $15 in Walmart Reward Dollars on your first purchase, and $10 in Walmart Reward Dollars for signing up for paperless billing.
When you make purchases with your Walmart Rewards Mastercard, the amount is deducted from your available credit and divided into six equal payments charged to your card monthly. However, you will be charged a 2.5% fee for setup.
Benefits of the Walmart Rewards Mastercard
1. No Annual Fee: With Walmart Rewards Mastercard, you do not pay any fee for having the card in your wallet. The card does not have an annual fee.
2. Cash Back Rewards: Walmart Rewards Mastercard offers 5% cash back when you purchase online at Walmart.ca and 2% cash back when you purchase at Walmart stores, restaurants, fuel stations and on travels. Whenever you use your card to make purchases outside of Walmart, you will receive a cashback of 1%.
3. Good Welcome Bonus: Walmart Rewards Mastercard offers you a welcome bonus of 5% cash back on all purchases at Walmart stores for the first 12 months when you use your Capital One Walmart Rewards Card with Walmart Pay.
4. Secured Service: You can feel safe as Walmart Rewards Mastercard has anti-fraud Zero Liability Protection.
5. Priceless City Promotions: The Walmart Rewards Mastercard offers unique experiences as you get hot-ticket discounts with special access.
6. Online account: Walmart Rewards Mastercard allows you to manage all your payments and balances in an easy-to-use online portal from the convenience of your home.
7. Complimentary concierge service: There is an excellent 24/7 concierge service that you can call to book dinner reservations, tickets for in-demand shows, and other entertainment on your itinerary.
Downsides of the Walmart Rewards Mastercard
1. Redeeming Rewards: You cannot use your rewards to pay off your statement balance. You can only redeem your Walmart Reward Dollars by purchasing at Walmart.
2. Low return: Many other store credit cards offer higher returns, cashbacks, and points than Walmart Rewards Mastercard.
3. Regional exclusion: Walmart Rewards Mastercard isn’t available everywhere in Canada. It isn’t offered to Quebec residents.
4. Pay more for extras: Walmart Rewards Mastercard doesn’t offer any free insurance coverage or benefits.
You will have to pay more if you need balance protection or purchase/extended warranty protection. $0.95 per $100 for balance protection and $3.99/month for purchase/extended warranty protection.
How to Apply for Walmart Rewards Mastercard
To apply for the Walmart Rewards Mastercard, you must meet the eligibility requirements and have all the necessary documents and information ready.
Eligibility requirements
- You must be at least 18 years old
- You must be a Canadian citizen or permanent resident
- You must have an annual gross household income of $100,000
- You must not be living in Quebec
Required documents and information
- Your full name, contact information, and residential status
- Your email address and phone number
- Your Social Insurance Number and Date of Birth
To apply:
- Go to the application portal of the Walmart Rewards Mastercard application
- Read the Disclosure Statement on the page and click “Accept & Continue.”
- Complete the application form with all the necessary information
- Review and submit your application.
Is the Walmart Rewards Credit Card Worth It?
Yes and No. The Walmart Rewards Mastercard is a great option for frequent Walmart shoppers. You can save more by earning Walmart Reward Dollars with every dollar you spend at Walmart.
The card also offers a simple and easy-to-understand reward system, taking away complicated point conversions since One Reward Dollar equals one Canadian dollar.
However, for non-frequent shoppers, the Walmart Rewards Mastercard is NOT a great choice for a credit card. It is basic, boring, and not competitive. It is merely a basic cashback credit card offering no real perks.
If you are looking for a credit card with lots of cashback, insurance, and other wonderful perks, Walmart Rewards World Mastercard is the perfect fit.
You can upgrade to the Walmart Rewards World Mastercard and get excellent cashback on your in-store and online purchases at Walmart.ca.
Walmart Rewards Mastercard vs Walmart Rewards World Mastercard
If your household income exceeds $100,000, consider applying for the Walmart Rewards World Mastercard. This premium card rewards better than Walmart Rewards Mastercard. It offers 3% cash back for online shopping and 1.25% for gas purchases.
The World Mastercard gets you better perks. A free extended warranty plan doubles the manufacturer’s warranty, and purchase assurance reimburses a stolen, lost, or damaged item.
It is an excellent card for high-income frequent shoppers at Walmart (in-store or online) looking for straightforward and easily redeemable dollars.
There are no downsides to upgrading to the World Mastercard. You will gain more rewards when you shop online and on gas, and a little insurance plus access to World Mastercard benefits.
Features Walmart Rewards Mastercard Walmart Rewards World Mastercard Annual Fee $0 $0 Annual Interest Rate 19.89% 19.89% APR for Cash Advance 22.49% 22.49% Online Rewards at walmart.ca 1.25% 3% Rewards at Walmart stores 1.25% 1.25% Rewards at any gas station 1% 1.25% Rewards everywhere else 1% 1% Income requirement None $60,000 for personal or $100,000 for household Insurance None Extended warranty and purchase assurance
Walmart Rewards Mastercard Alternatives
Name Walmart Rewards Mastercard RBC Cash back Mastercard Tangerine World Mastercard BMO Cashback Mastercard American Express Cobalt Card Rewards Up to 1.25% cash back Up to 2% cash back Purchase interest rate 19.95% Annual fee $0 $0 $0 $155.88 Welcome offer None
1. Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card offers 2% unlimited cash back when you spend on any three categories: restaurants, groceries, gas, drugstore, entertainment, and lots more.
It is easy to qualify for a Tangerine Money-Back Credit Card as it only requires a minimum personal income of $12,000/year.
When you open a Tangerine Savings Account for depositing cash back rewards, you earn 2% cashback. The credit card also offers extended warranty coverage and free purchase protection.
2. Neo Credit Card
The Neo credit card is an everyday card which you can use to earn cashback and exclusive offers from places you love to shop. Neo has thousands of participating partners around Canada and offers you cashback rewards when you shop with them using your Neo credit card.
Like the Walmart Rewards Mastercard, the Neo credit card has no annual fee and offers a $25 welcome bonus when you apply for the credit card.
The card offers 4% cashback when you shop with Neo partners and 1% cashback for all other purchases elsewhere.
RECOMMENDED READINGS
- The Best Credit Cards For Bad Credit in Canada (2024)
- 7 Best Travel Credit Cards in Canada
- The 10 Best No-Fee Credit Cards in Canada for 2024
- The 6 Best-Secured Credit Cards in Canada for 2024
Final Thoughts on Walmart Rewards Mastercard Review
The Walmart Rewards Mastercard is a credit card particularly suited to those who frequently shop at Walmart.
Despite receiving poor customer reviews with a rating of only 1.3/5 from InsurEye, this card offers several rewards and benefits that frequent Walmart customers could benefit from.
However, it has limited redemption options, low returns, regional exclusion, and extra fees. If you’re eligible, applying for the card is simple and easy.
This Walmart Rewards Mastercard review is positive. So, go ahead and explore the features and benefits of the Walmart Rewards Mastercard and see how it can help you save money while you shop.
FAQs on Walmart Rewards Mastercard Review
How do I check my points balance?
Go to the Walmart Mastercard Canada login, log in to your account, and navigate to the rewards page, and you will see your points balance on this page.
Where can I use my Walmart Rewards Mastercard?
Your Walmart Rewards Mastercard can be used wherever Mastercard is accepted.
What can Walmart Rewards Dollars be used for?
You can use your Walmart Rewards Dollars for almost any purchase made in-store at any Walmart location or online at Walmart.ca. Each Walmart Rewards Dollar equals a regular dollar and must be redeemed in $5 increments.
Does Walmart offer a welcome bonus offer on the Walmart Rewards Mastercard?
Yes. You can get a welcome bonus of $15 from Walmart Rewards Mastercard, with an additional $10 for choosing paperless statements.
