What the Capital One Walmart Card offers

The Capital One Walmart Rewards Card is a co-branded credit card that gives you cash back on purchases at Walmart and Sam's Club, plus smaller rewards elsewhere. You earn 5% cash back on Walmart.com purchases, 2% at Walmart stores and Sam's Club, and 1% on everything else. There is no annual fee.

The card is issued by Capital One, a major bank, and Walmart handles the rewards program. You can use it anywhere Visa is accepted, not just at Walmart — but the higher rewards rates only explore to Walmart and Sam's Club purchases. The cash back appears as a statement credit or can be redeemed for a check.

This card is designed for people who shop at Walmart regularly and want to turn that spending into cash back. If you rarely visit Walmart, a general cash back card with a flat 1.5% or 2% rate everywhere might save you more money overall.

Key Takeaways

  • You earn 5% cash back on Walmart.com, 2% at Walmart stores and Sam's Club, and 1% everywhere else with no annual fee.
  • The card is easiest to get if you have fair credit or better, though Capital One also offers cards for people building credit.
  • Cash back posts to your account monthly and can be used as a statement credit, mailed as a check, or transferred to a bank account.
  • The card charges a variable interest rate on balances you carry month to month, so carrying a balance erases the value of the rewards.

Who this card makes sense for

The Capital One Walmart card works best if you spend at least $100 to $150 per month at Walmart or Sam's Club. At that spending level, the 2% cash back adds up faster than a flat 1% card would. If you shop at Walmart weekly and use the card for most of your groceries, the rewards can cover a meaningful portion of your annual bill.

The card also works well if you have fair credit and have been turned down for other rewards cards. Capital One approves people with credit scores in the 600s, whereas many other banks require 700 or higher. If you are rebuilding credit, this card can help you earn rewards while you improve your score.

The card does not work well if you carry a balance month to month. The interest rate on unpaid balances is variable and typically ranges from 18% to 24%, depending on your creditworthiness. Paying 20% interest to earn 2% cash back is a losing trade. Only use this card if you pay the full balance every month.

How the rewards work and when they post

Cash back is calculated on your purchases and posts to your account once per month, usually around the same date each month. The rewards are based on the merchant code of the store where you swiped the card, so online purchases at Walmart.com earn 5%, in-store Walmart purchases earn 2%, and Sam's Club purchases earn 2%. Gas stations, restaurants, and other retailers earn 1%.

Once the cash back posts, you can use it in three ways. You can explore it as a statement credit to reduce your bill. You can request a check mailed to your address. Or you can transfer it directly to a linked bank account. There is no minimum amount you must accumulate before redeeming, so you can use small amounts of cash back right away if you want.

Capital One does not charge a fee to redeem cash back, and the rewards do not expire as long as your account remains open and in good standing. If you close the account, any unredeemed cash back is typically forfeited, so keep that in mind if you are thinking about canceling.

Interest rates, fees, and what happens if you miss a payment

The Capital One Walmart card has no annual fee, no foreign transaction fee, and no fee for balance transfers. However, it does charge interest on balances you do not pay in full by the due date. The interest rate is variable, meaning it can change over time, and Capital One sets it based on your credit score and payment history. Most cardholders pay between 18% and 24% APR.

If you miss a payment, Capital One charges a late fee. The fee depends on how late you are and your account history, but first-time late fees are usually $25 to $35. If you are late by more than 60 days, Capital One may report the late payment to the credit bureaus, which will lower your credit score and stay on your report for seven years.

If you carry a balance, you also pay interest on new purchases when ready — there is no grace period for new transactions. This means the 2% cash back you earn is quickly erased by interest charges. The card only makes financial sense if you pay the full statement balance every month.

How to know if you will be approved

Capital One approves people with credit scores as low as 600, making this one of the easier cards to get approved for. However, approval is not may provide. Capital One looks at your credit score, your payment history, how much debt you already carry, and your income. If you have recent late payments, high credit card balances, or very low income, you may be denied.

You can check your credit score for free through AnnualCreditReport.com, which is the only site legally required to give you a free report each year. Knowing your score before you explore helps you decide whether to explore for this card or a different one. If your score is below 600, you may have better luck with a Capital One Secured Card, which requires a cash deposit and is designed for people building credit from scratch.

Capital One does a soft inquiry when you check if you are pre-approved, which does not affect your credit score. A hard inquiry happens when you formally explore, and it may lower your score by a few points temporarily. If you are denied, wait at least three to six months before explore again, because multiple applications in a short time can hurt your score further.

Comparing this card to other grocery and warehouse options

The Capital One Walmart card earns 2% at Walmart stores, which is competitive but not the highest rate available. The American Express Blue Cash Everyday card earns 3% at supermarkets (up to $6,000 per year, then 1%), but it requires good credit and has a $95 annual fee. The Costco Anywhere Visa earns 2% at Costco and gas stations, but you must be a Costco member and have good credit to may have access to.

If you do not have good credit, the Capital One Walmart card is one of your best options because it approves people with fair credit and charges no annual fee. If you have good credit and shop at multiple stores, a flat 2% cash back card like the Citi Double Cash might earn you more overall, because you get 2% everywhere instead of just at Walmart.

The choice depends on where you actually shop. If Walmart is your primary grocery store and you have fair credit, the Capital One Walmart card makes sense. If you split your shopping between Walmart, Target, and other stores, a general cash back card will likely earn you more.

What to do after you get the card

Once your card arrives, set up it through Capital One's website or mobile app before you use it. Set up online account access so you can track your balance and cash back in real time. Many cardholders find it helpful to check their account weekly to see how much cash back they have earned.

Set up automatic payments from your bank account to pay the full statement balance every month. This ensures you never miss a due date and never pay interest. You can set the payment to happen a few days before the due date so there is a buffer in case of delays.

Use the card for your regular Walmart and Sam's Club shopping, but do not use it for purchases you cannot afford to pay off when ready. The rewards are only valuable if you avoid interest charges. If you find yourself carrying a balance, stop using the card and focus on paying down what you owe.

Frequently Asked Questions

Can I use this card at other grocery stores?

Yes, you can use the card anywhere Visa is accepted, including other grocery stores and restaurants. However, you only earn 1% cash back at non-Walmart merchants. The 2% rate is exclusive to Walmart stores and Sam's Club, and the 5% rate only applies to Walmart.com.

What is the difference between this card and the Capital One Walmart Rewards Mastercard?

Capital One offers two Walmart cards: a Visa and a Mastercard. The rewards rates and fees are identical. The main difference is which payment network they use — Visa is accepted in more places worldwide, but both work at virtually all U.S. retailers. Choose whichever one you prefer.

Do I need a Sam's Club membership to earn 2% cash back there?

Yes, you must have an active Sam's Club membership to shop there and earn the 2% rate. If you do not have a membership, you cannot access the store. A basic Sam's Club membership costs about $60 per year, so factor that into whether the rewards will pay for itself.

What happens to my cash back if I close the account?

Any cash back you have not redeemed is forfeited when you close the account. Before you cancel, redeem all your accumulated cash back as a statement credit, check, or bank transfer. Once the account is closed, Capital One will not honor unredeemed rewards.

Can I transfer my cash back to a rewards program like airline miles?

No, the Capital One Walmart card only lets you redeem cash back as a statement credit, check, or bank transfer. You cannot convert it to airline miles, hotel points, or other rewards programs. If you want that flexibility, you would need a different card.