Capital One Walmart Rewards Mastercard review: For dedicated shoppers

Key Features

• APR is 17.99%, 23.24%, or 26.99%
• Introductory 5% cash back rewards for Walmart Pay orders
• 5% cash back for Walmart.com purchases
• 2% cash back on restaurants and travel
• All other purchases earn 1%
• There is no annual fee 
• Rewards can be redeemed for cash, a Capital One Walmart Rewards Card, or a statement credit. Gift cards and travel are also available for rewards redemption. 

Capital One kicks off the rewards for its Capital One Walmart Rewards Mastercard with an introductory offer. You can earn 5% cash back for the first year that you have the card when you use Walmart Pay. You also earn 5% cash back when you shop on Walmart.com or the Walmart app, regardless of whether you shop in-store, pick up your groceries, or have them delivered. Other purchases receive cash back, too, with 2% cash back on dining and travel, while 1% cash back applies to all other purchases. Rewards can be redeemed in a number of ways, including a check, a statement credit, or travel reward. You may also receive a gift card that you can redeem at Walmart or another retailer.  

Even better, there is no annual fee. The APR ranges from 17.99% to 26.99%, depending on creditworthiness, with good to excellent credit required.

If you are a Walmart customer, this is a card that will reward you handsomely for your purchases. Its APR is high but that is offset by the lack of an annual fee. The reward structure is varied but truly best for the Walmart shopper, as the best rewards are reserved for Walmart purchases.