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Walmart Rewards Mastercard Review

Walmart Rewards Mastercard review

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3.0

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1.25% back in Walmart Rewards on all purchases made in-store or online at Walmart

1% back in Walmart Rewards at any gas station

1% everywhere else

20.89% - 26.99% Variable APR 20.89 for Quebec residents

22.97% - 27.99% Cash Advance APR 21.97% for Quebec residents

$0 Annual Fee no annual fee

2.50% Foreign Transaction Fee

Good Recommended Credit Score

$12,000 Required Annual Personal Income

3.0

Walmart Rewards Mastercard review

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Quick overview of the Walmart Rewards Mastercard

The Walmart Rewards Mastercard has a few main perks, including nearly $50 upon sign-up. You’re also given the chance to finance expensive purchases made in-store or online to accommodate your monthly budget. And, as you spend, you earn Walmart Rewards Dollars with every purchase you make, whether at a Canadian Walmart location or anywhere else 一 with no limit on earnings. 

It’s worth noting that the rewards you earn can only be redeemed on Walmart merchandise rather than having cash added to your account. It may also take a while to gain substantial Walmart Rewards Dollars, as the earning rate is relatively low. With no extended insurance benefits, the Mastercard also lacks perks that other credit cards offer, like travel or emergency medical insurance.

Who’s the Walmart Rewards Mastercard for?

The Walmart Rewards Mastercard is designed for the avid Walmart shopper. Those who shop in all of Walmart’s departments will benefit most from using this card, as there will be ample opportunities to earn 1.25% back. Otherwise, other cards can offer a more beneficial rewards system.

Pros and cons

Pros

Pros

  • No annual fee

  • Earn 1.25% in Walmart Rewards Dollars on all Walmart purchases

  • Welcome bonus

  • Option to pay in installments for Walmart purchases of $199.99 or more

Cons

Cons

  • Reward dollars must be redeemed at Walmart or Walmart.ca

  • Accident, extended warranty and travel insurance costs extra

  • Low earning rewards system

Walmart Rewards Mastercard welcome offer

Get a $20 Reward Dollars when you’re approved and spend $50+ using the temporary shopping pass∆ provided.† Earn $15 in Reward Dollars after one purchase at Walmart and one anywhere else.†† Get $10 in Reward Dollars by going paperless.†††

How to earn rewards on the Walmart Rewards Mastercard

With the Walmart Rewards Mastercard, you earn 1.25% back in Reward Dollars when you make any purchase at Walmart, in-store or online. Every other purchase, including all gas station transactions, earns you 1.00% back. 

The fastest way to earn points would be to maximize the three welcome bonus categories when you sign up, instantly earning you plenty of Walmart Reward Dollars. After that point, you’ll need to shop at Walmart consistently to collect enough points to make the card worthwhile.

How to redeem rewards with the Walmart Rewards Mastercard

Redeeming rewards is straightforward with the Walmart Rewards Mastercard since each Reward Dollar equals $1. When redeeming in-store, tell the cashier you'd like to use points. If you're checking out online, ensure you're signed into your Walmart Rewards Mastercard account and have the card set up as a payment method. 

When it comes to redeeming your rewards, there are a few guidelines to follow. If you're using dollars, you must redeem a minimum of $5 at checkout. Any amount above that must be in multiples of five. For instance, you can redeem $10, $15, $20 and so on. This means you may always have a balance to pay on your purchase, so it's good to keep this in mind when planning your shopping.

The dollars you collect can be spent on almost anything Walmart sells online (including third-party Marketplace items) and in-store. The only redemption restrictions are cash, tobacco, lottery tickets, alcohol and prescription medication.

Walmart Rewards Mastercard key benefits

  • There's no annual fee
  • Earn up to $45 in Walmart Reward Dollars as a welcome bonus
  • Earn 1.25% back in Walmart Rewards on all purchases made in-store or online at Walmart.

Walmart Rewards Mastercard insurance coverage

  • Purchase Assurance Protection: Protects eligible purchases against theft, loss or damage for 90 days after the transaction date.

Extra benefits

  • Finance Walmart purchases of $199.99 or more in six monthly installments (with a 4% set-up fee on first installment) 
  • Interest-free grace period of 21 days
  • Zero Liability Protection on unauthorized purchases
  • Access 24/7 Mastercard Global Services when you need them

Walmart Rewards Mastercard eligibility criteria

  • Must be a Canadian resident and the age of majority in your province 

What people have to say about this card

One user on Reddit had issues receiving and activating the card. They also experienced a repetitive loop of dropped calls when on the phone with customer service. Another user automatically opted in for additional insurance, which unexpectedly cost them.

Other users who prioritize redeeming money at Walmart enjoy it, even though the rewards aren't the best. They point out that typically, a store credit card would offer a higher reward rate for shopping at the business, which is a downside of this card. Applying can also temporarily affect your credit score.

How the Walmart Rewards Mastercard compares

BMO CashBack® Mastercard®* for students

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4.2

5% cash back

Welcome offer

Good

Suggested credit score

Get 5% cash back in your first 3 months.*

Apply now

Pros

  • No annual fee: this makes it cost-effective for students looking to build credit without incurring additional expenses.

  • Earn cash back on everyday purchases, including up to 5% cash back on every purchase in your first three months.

  • Credit building: If you’re responsible, you can build a positive credit history, which helps you get better credit cards and more

Cons

  • Higher interest rates: If you can’t pay off your balance in full, opt for a low interest credit card

  • Limited additional benefits: While there are some benefits, it’s not the full suite of perks, but then again, there’s no annual fee.

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$0

Required Annual Household Income

$0

Pros

  • No annual fee: this makes it cost-effective for students looking to build credit without incurring additional expenses.

  • Earn cash back on everyday purchases, including up to 5% cash back on every purchase in your first three months.

  • Credit building: If you’re responsible, you can build a positive credit history, which helps you get better credit cards and more

Cons

  • Higher interest rates: If you can’t pay off your balance in full, opt for a low interest credit card

  • Limited additional benefits: While there are some benefits, it’s not the full suite of perks, but then again, there’s no annual fee.

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$0

Required Annual Household Income

$0

Earn 3% cash back on groceries

3%

Earn 1% cash back on recurring bill payments like your mobile phone, streaming and subscription services

1%

Earn 0.5% cash back on all other purchases

0.5%

Purchase APR

20.99%

Cash Advance APR

22.99%

Annual Fee

$0

Walmart Rewards Mastercard vs. BMO CashBack Mastercard

The BMO CashBack Mastercard offers up to 3% back on purchases, a higher earn rate than the Walmart Rewards Mastercard. It also offers a lucrative welcome bonus which can reach a maximum of $125 一 more than Walmart's $45 maximum bonus: Get 5% cash back in your first 3 months.* There's more flexibility with where you can redeem your cashback, too.

The BMO CashBack Mastercard will suit those who need more flexibility with their rewards and who spend the most on groceries, as it's the highest-earning category. Conversely, those who shop at Walmart for almost everything may enjoy the convenience of a one-stop-shop rewards system.

SimplyCash® Card from American Express

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3.5

up to $100

Welcome offer

Good

Suggested credit score

Earn up to $100 in Statement Credits in your first 10 months as a new cardmember

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Pros

  • No annual fee for primary or additional cardholders

  • Big welcome bonus

  • Solid regular cash back rate on all eligible purchases - up to 2% cash back on all eligible purchases

  • No limit to the amount of cash back you can earn at the base rate

Cons

  • Cash back is only applied as a statement credit once a year

  • Amex cards aren’t accepted by every merchant

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$0

Pros

  • No annual fee for primary or additional cardholders

  • Big welcome bonus

  • Solid regular cash back rate on all eligible purchases - up to 2% cash back on all eligible purchases

  • No limit to the amount of cash back you can earn at the base rate

Cons

  • Cash back is only applied as a statement credit once a year

  • Amex cards aren’t accepted by every merchant

Eligibility

Recommended Credit Score

Good

Required Annual Personal Income

$0

Earn 2% cash back on eligible gas purchases in Canada, 2% cash back on eligible grocery purchases in Canada (up to $300 cash back annually)

2%

Earn 1.25% cash back on all other eligible purchases—the only stuff that won’t get cash back are non-purchases, like cash advances, balance transfers, etc.

1.25%

Purchase APR

21.99%

Cash Advance APR

21.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Walmart Rewards Mastercard vs. American Express Simply Cash

There’s more value in the American Express Simply Cash welcome offer, with up to $100 in statement credits. The earn rate on gas and groceries is also higher at 2.00% compared to Walmart’s 1.00%. Travel accident insurance is included, too, but this isn’t the case with the Walmart card.

However, cashback can only be accessed once a year with the Amex card as a statement credit, which is less appealing than Walmart’s option to redeem on every transaction. The better choice is where you spend most and which redemption structure you prefer.

Rogers Red World Elite® Mastercard®

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4.2

Excellent

Suggested credit score

to receive the latest news, tips and offers by email

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Pros

  • Lucrative cash back rates on USD and CAD purchases, especially for Rogers, Fido or Shaw customers

  • No annual fee with valuable insurance benefits

  • Competitive against foreign transaction fee cards

  • Convenient cash back redemption options

  • Redemption bonus of 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases

  • Travel insurance perks and airport lounge access

Cons

  • High income requirement: $80,000 personal or $150,000 household

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Pros

  • Lucrative cash back rates on USD and CAD purchases, especially for Rogers, Fido or Shaw customers

  • No annual fee with valuable insurance benefits

  • Competitive against foreign transaction fee cards

  • Convenient cash back redemption options

  • Redemption bonus of 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases

  • Travel insurance perks and airport lounge access

Cons

  • High income requirement: $80,000 personal or $150,000 household

  • Foreign transaction fee applies

  • Limited redemption options for statement credits

Eligibility

Recommended Credit Score

Excellent

Required Annual Personal Income

$80,000

Required Annual Household Income

$150,000

Earn 3% unlimited cash back on purchases made in US dollars

3%

Earn 2% unlimited cash back on all eligible non-US dollar purchases if you have 1 qualifying service with Rogers, Fido or Shaw

2%

Earn 1.5% unlimited cash back on everything else

1.5%

Get 1.5x more cash back every time you redeem for Rogers, Fido or Shaw purchases

1.5x Cash Back

Purchase APR

20.99%

Balance Transfer Rate

22.99%

Cash Advance APR

22.99%

Annual Fee

$0

Foreign Transaction Fee

2.50%

Walmart Rewards Mastercard vs. Rogers Red World Elite® Mastercard®

The Rogers Red World Elite® Mastercard® favours those who frequently purchase in US dollars, with a 3.00% cash-back rate. Its earn rate for everything else is 1.50% (or 2.00% for Rogers customers), which is still higher than Walmart’s. Rogers also offers extended warranties, rental cars, emergency medical insurance, trip interruption and cancellation insurance, a massive plus for a card with no annual fee.

At the same time, Walmart’s welcome bonus is higher than the Rogers smaller offer. The Walmart Rewards Mastercard also doesn’t have the exact income requirements, so it’s easier to qualify. Overall, the Rogers card offers more benefits if you travel to the US often. If you rarely travel to the US, you won’t experience the full benefits of the Rogers card, but you’ll still get a slightly higher earn rate and some added insurance.

Features Walmart Rewards Mastercard Rogers Red World Elite® Mastercard®
Annual fee
$0.00 $0.00
Welcome offer Earn up to $45 in Walmart Reward Dollars N/A
Insurance coverage Purchase protection Extended warranty, purchase protection, rental car collision, emergency medical, trip interruption, trip cancellation
Benefits 1.25% back in Walmart Rewards on all purchases made in-store or online at Walmart, 1% back everywhere else 3% back on all eligible purchases made in U.S. dollars., 2% back on all eligible non-U.S. dollar purchases (with 1 eligible Rogers service)
Review link You’re reading it Rogers Red World Elite® Mastercard®
More information Apply now Apply now

Is the Walmart Rewards Mastercard worth it?

The Walmart Rewards Mastercard may be worth it for a select few who shop at Walmart more than the average consumer. There are other no-fee credit cards with higher earn rates and more benefits that you can redeem at various locations besides Walmart. But if you like the simplicity of redeeming your rewards at one retailer, then it may be a worthwhile card to consider.

FAQs

  • How do I check my Walmart Rewards Mastercard balance?

    +

    You can check your Walmart Rewards Mastercard balance every time you use it in-store at the checkout. You can also check it online when you log in to your Walmart Reward Mastercard account and get your paper or electronic statement.

  • Is there a Walmart Mastercard app?

    +

    There is no Walmart Mastercard app, but there is a Walmart app that you can link your card to for convenience when shopping online.

Michelle Bates Freelance Writer

Michelle Bates has seven years of writing experience and has been writing and editing personal finance content since 2021, specializing in credit cards, home and auto insurance and mortgages. She is the former associate editor at WealthRocket and spent close to two years as an editor and writer for rate comparison website RATESDOTCA, where she wrote data-driven reports and edited freelancers’ articles. Her work has been covered by notable Canadian news sources like the Financial Post, The Globe and Mail, CTV News and Narcity.

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