It offers unlimited rewards, beginning with the fact that you will earn two points for every dollar spent on Walmart-related purchases and dining and travel expenses. It awards far more points for purchases made at the massive store than those made elsewhere, which only receive an underwhelming one point for each dollar spent. There is no sign-up bonus in the form of cash or points, in contrast to certain other retail credit cards. However, if you use the card with the Walmart Pay app during the first year.
Pros
High Walmart Rewards:
When you use the card in conjunction with Walmart Pay, the mobile payments program offered by the company, you will earn five points for each dollar spent back at Walmart shops within the first year after opening the card. You receive the same rewards rate on Walmart.com and the Walmart app without any time restriction, including earning points for grocery pickup and delivery. In every circumstance, one point is equal to one cent.
Highest Rewards:
The fact that there are no spending limits on the card's effective 5% rewards rate is a positive aspect of the card. Other cards often limit the most money that may be earned and frequently charge an annual fee. For instance, the Blue Cash Preferred Card from American Express gives a cashback rate of 6% at supermarkets in the United States. However, this rate is limited to $6,000 spent annually, which is arguably a sufficient amount for most individuals, and the card has an annual fee of $95.
Cons
The High Walmart Store Rewards
After the first year, the formerly generous rewards rate of five points per dollar on purchases made at Walmart stores will plummet to only two points, equivalent to an effective 2% back. Contrast that with the Target RedCard, which gives its holders a discount of 5% off the majority of in-store and online transactions made with the company. People with average or below-average credit scores often qualify for store credit cards. Because it is a general-purpose credit card that may be used everywhere that accepts Mastercard.
This Card is Best For
Although it is widely recognized, the Capital One Walmart Rewards program is intended for customers who make repeated purchases at Walmart, regardless of whether those purchases are made in-store or online. It awards far more points for purchases made at the massive store than those made elsewhere, which only receive an underwhelming one point for each dollar spent.
Rewards Earning Details
The card does not come with a conventional perk, such as a cashback incentive or a reduction in the price of the first thing you buy with it. This time begins after you sign up for the card.
Rewards Redemption Details
You will earn 5 points for every dollar spent on purchases made through Walmart.com and the Walmart app and grocery pickup and delivery. Other cards often limit the most money that may be earned and frequently charge an annual fee. On top of that, you get one point for every dollar spent on everything else you buy.
Rewards Redemption Details
You cannot get rewards on this card in the form of cash that can be deposited into a bank account. Capital One, on the other hand, allows you to redeem your points as continuing bill credits, gift cards, or straight for the purchase of travel. You may also be eligible to obtain a credit on your account for a particular purchase, provided that you make the appropriate request within the first ninety days after the transaction was posted. In every circumstance, one point is equivalent to one cent when exchanged for cash.
How to Maximize Your Rewards
You should use this card every time you make a purchase at Walmart if you want to get the most out of it. When you do, you should also consider making purchases using an app or online to increase the amount of money you earn. If you want to get the most out of the initial offer, which involves utilizing Walmart Pay to earn rewards at a rate of 5 points per dollar, be sure to download the payment app as soon as you have the card to have it on your smartphone.
Standard Benefits
- Travel accident insurance
- Protection against extended warranty obligations
- Complimentary use of the concierge desk
- Travel help services
- No costs for transactions with foreign countries
Cardholder Experience
According to the results of the 2020 Credit Card Customer Satisfaction Study conducted by J.D. Power, Capital One was ranked fifth, after American Express, Discover, Bank of America, and Chase.
