Walmart launches new Capital One rewards card

Capital One and Walmart partnered up to release two new credit cards, one of which is exclusively for purchases at Walmart stores only, while the other on Walmart and elsewhere the card is accepted.

One card is the Capital One Walmart Rewards Mastercard which works on Walmart and on other places where the card is accepted, while the other being the Walmart Rewards Card that is exclusively for Walmart stores only.

Both the cards come with their own rewards and benefits including:

  • 5% back on purchases from Walmart website and app
  • 2% back on purchases in Walmart stores
  • 2% back on restaurants and travel
  • 1% percent back everywhere else

The Capital One Walmart Rewards Mastercard has a variable APR of 17.99% to 26.99% while the Walmart Rewards Mastercard has a variable APR of 26.99% with no hidden or annual fee.

Consumers can apply for the cards from Walmart.com, CapitalOne.com or Walmart’s app and once their identity is verified, you get instant access to your new Mastercard. If anyone has a Walmart Pay Account, then you can instantly integrate the card with your account.

Starting from October 11, the current Walmart cardholders will have their cards automatically converted into the new Capital One Walmart Rewards Mastercard or Walmart Rewards Mastercard and can enjoy the perks of these new cards. They will receive a new card at some point in the near future with the same number, but updated security code and expiration date.