Which Walmart Mastercard Rewards credit card is for you? That depends on a few things, but either way you earn for everyday buys including grocery delivery.
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With over 400 locations across Canada, chances are there is a Walmart near you. For many, the big discount retailer represents value and convenience, as a one-stop shop for everyday essentials. Now, Walmart is looking to provide added incentive for frequent shoppers with the launch of its new Walmart Rewards World Mastercard, to create a small credit card roster that also includes Walmart Rewards Mastercard.
Walmart Rewards World Mastercard
Prior to launch, Walmart offered only the entry-level Walmart Rewards Mastercard (reviewed below), capping out at 1.25% earn on every dollar purchased at Walmart.ca and 1% on every dollar spent at gas stations (not including independent retailers at gas stations however, so your morning Tims is not included). The retail giant is upping the ante with the launch of the Walmart Rewards World Mastercard, bumping the incentive to 3% for online purchases at Walmart.ca, and increasing the gas purchases earn rate 25% to 1.25% per dollar spent. Both cards earn 1% on purchases made anywhere else.
The card is meant for higher income Walmart shoppers, though, as the minimum requirement is $100,000 per household. So not all of its consumers will find this card accessible. There’s no annual fee, though. But Walmart is looking to capitalize on rewarding its premium credit card users for loyalty and everyday shopping. Walmart.ca and PenguinPickUp partnered so that the retailer can offer grocery delivery and pickup in major cities across Canada. These benefits, along with its straightforward Reward Dollars currency and World Mastercard-level purchase protection and insurance suite, it’s up there with other premium cards.
Annual fee: $0
Rewards: earn 3% at Walmart.ca; 1.25% in-store in Canada; 1.25% at gas stations (independent merchants exempt); 1% everywhere else
Welcome offer: A total of $25, including $15 upon two purchases (one at Walmart and another anywhere else), plus an additional $10 when you sign up for paperless statements
Minimum annual income required: $100,000 household
Purchase interest rate: 19.89% (preferred rate)
Best features: Travel and accident insurance, car rental insurance, liability insurance for unauthorized purchases, access to the Walmart Protection Plan (on items such as laptops and tablets for mechanical and electrical failure, and manufacturer defects) for an additional fee upon eligible product purchase, as well as lost or theft on the first 90 days, financial and personal information protection, credit alert monitoring, 5% off Western Union standard fees, as well as use of Boingo WiFi hotspots
Who it’s good for: Mid- to-high-income frequent shoppers at Walmart or at Walmart.ca looking for straightforward, easily redeemable dollars
Walmart Rewards Mastercard
The Walmart Rewards Mastercard may be more within reach for some Walmart shoppers than the above credit card. The minimum annual income requirement is low comparatively, at $12,000 per person on the card. And, like the Walmart Rewards World Mastercard, it has no annual fee. Of course, it features incentives to those who shop frequently at Walmart.
Earn 1.25% on every dollar spent at Walmart stores and at Walmart.ca, and 1% everywhere else including at gas stations. The 0.25% accelerator on Walmart spend on a no-annual-fee credit card can be attractive for those who make frequent purchases with the store and aren’t looking to rack up travel rewards, like on other credit cards.
Annual fee: $0
Rewards: 1.25% at any Walmart store in Canada or online at Walmart.ca; 1% at gas stations (not including independent merchants at stations); 1% everywhere else
Welcome offer: $25 total: $15 upon two purchases (one at Walmart, and another anywhere else), plus an additional $10 when you sign up for paperless statements
Minimum annual income required: $12,000 per card holder
Purchase interest rate: 19.89% (preferred rate)
Best features: Offers straightforward rewards, but also basic travel and accident insurance, access to the Walmart Protection Plan (on items such as laptops and tablets for mechanical and electrical failure, and manufacturer defects) for an additional fee upon eligible product purchase, InfoProtector and CreditAlert monitoring.
Who it’s good for: Frequent shoppers at Walmart (even students with a part-time job) looking for straightforward, easily redeemable dollars
The differences between the Walmart Rewards Mastercard cards
As you might guess, you earn most from Walmart purchases on both credit cards. Where the basic Walmart Rewards Mastercard offers 1.25% both in-store and online, the new Walmart Rewards World Mastercard earns 3% on purchases made at Walmart.ca. The World card still gives you 1.25% at Walmart stores in Canada. However, for groceries, World cardholders will earn more from their grocery deliveries and curb-side pickups from Walmart.ca.
But both cards offer a simple and easy to understand reward system. Unlike other reward programs with miles and points, Walmart Rewards Dollars removes complicated point conversions. Walmart Reward Dollars add up as dollars. Once you earn $5 (and in $5 increments thereafter), you can redeem the Walmart Rewards Dollars in store and at Walmart.ca.
Walmart credit card alternatives
While both Walmart Rewards cards we’ve reviewed are good for frequent Walmart shoppers, there are other credit cards with incentives for shopping in brick-and-mortar Walmart stores, as well as other grocery retailers—like Metro, Loblaws, and Sobeys.
The American Express SimplyCash Preferred Card provides 2% cash back—more than the 1.25% offered in-store at Walmart—while Tangerine’s Money-Back Mastercard allows you to choose groceries as a category to receive 2% back. (See our list of the best credit cards to use at Walmart.)
For those looking to grocery shop online at Walmart for grocery delivery or curb-side pickup, the Walmart Rewards World Mastercard does offer the highest incentive.
To sum up our Walmart Rewards credit cards reviews
The Walmart Rewards Mastercard and World Mastercard aren’t built for those looking to rack up miles to book a vacation, but rather a loyal Walmart shopper who wants a simple rewards system for everyday purchases. Both credit cards do that well with an easy-to-understand earn and redeem structure. At no annual fee for both cards, this can be a great option for those who want to simplify their rewards portfolio.