Advertisement
If you frequently shop at Walmart, you may think that the store-branded credit card is your best bet for reaping rewards—but is it? Read on to determine which card is best for your spending habits and lifestyle.
It should come as no surprise that a company with this kind of reach has a financial services arm. Alongside insurance and money transfers, the brand offers a no-annual-fee Walmart Rewards Mastercard. This card is tailored for the brand’s shoppers, who reap rewards when they use it at Walmart. But is it the best option when it comes to collecting rewards? The answer depends on your spending habits and goals. Read on for more about the Walmart Rewards Mastercard and nine strong alternatives.
Annual fee: $0
Welcome offer: This card does not have a welcome offer at this time.
Card details
| Interest rates | 19.89% on purchases and 22.97% on cash advances |
| Income required | $12,000 |
| Credit score | 660 or higher |
At a glance: By allowing you to earn Walmart Rewards Dollars, redeemable at a 1:1 ratio, the Walmart Rewards Mastercard has one of the most straightforward programs around. Purchases made at Walmart (both in-store and online) earn 1.25% back, while spending everywhere else is rewarded at a perfectly respectable 1% in Walmart Rewards Dollars. These Dollars, which are valued at $1 each, can be redeemed in lieu of cash at Walmart. You only need to rack up 5 Rewards Dollars before you can redeem, which means cashing in your points is fast and easy. The card commands no annual fee, and additional cards for family are free, so collectors can rack up their rewards quickly. The company also offers an attractive welcome bonus of up to 25 Rewards Dollars. The simple earn ratio and redemption process make this feel a bit like a cash back card, but it’s important to understand that Dollars are not dollars. These rewards can only be spent at Walmart stores or at walmart.ca, and therein lies the card’s main weakness. Although Walmart offers a truly broad range of products, some consumers may not like the lack of flexibility.
At a glance: This card’s higher cash-back rates can really add up. For $99 annually, the American Express SimplyCash Preferred card will get you 2% back on all purchases, including at Walmart. This means your annual fee will pay for itself after you spend $5,000—and that’s not even taking into account the four-month introductory rate of 10% back (up to $400). This card’s insurance coverage is valuable for those who travel, with included medical, accident, car rental, baggage and burglary protection. Up to nine free supplementary cardholders means that you and your family can really rake in the cash.
Annual fee: $120
Welcome offer: Earn a bonus 10% cash back on all purchases for your first three months (up to $2,000 in purchases) and a $50 statement credit when you make a purchase in month 13 (total value of up to $250).
Card details
| Interest rates | 21.99% on purchases, 21.99% on cash advances |
| Income required | None specified |
| Credit score | 725 or higher |
At a glance: If you’re looking for a no-annual-fee cash back card, it’s hard to beat this Tangerine product. It allows you to select up to three spending categories where you can earn a very generous 2% back—and groceries is one of them. Purchases at Walmart Supercentres fall into the “groceries” category for Mastercard credit cards, so with that category activated, this product beats out Walmart’s card by 0.75% on every dollar. However, not all Walmart stores are classified as Supercentres, so you may not earn rewards at your local store. All cardholders can choose two categories, but open a Tangerine Savings Account and you’ll earn in a third. All other purchases get 0.5% back, so this card is best for strategic spenders.
Annual fee: $0
Welcome offer: Earn an extra 10% cash back during the first two months (up to $100 in cash back).
Card details
| Interest rates | 20.95% on purchases, 22.95% on cash advances and 22.95% on balance transfers |
| Income required | Personal or household income of $12,000 |
| Credit score | 660 or higher |
At a glance: The MBNA Rewards World Elite gives you equal opportunities to earn points at Walmart as everywhere else—you get 5 points per $1 (up to $50,000, combined with other categories, then the earn rate is 1 point per $1 spent). Globetrotters will like that points go farthest when redeemed for travel, at $1 per 100 points (compared with $1 per 200 points for cash back). Points can go towards flights of any distance on any airline, anytime; or choose to use them to book accommodations or travel packages via the MBNA online rewards catalogue. And because it’s a member of the Mastercard family, you can use it to earn points when you shop at arch-rival Costco (it even made our list of the best Costco credit cards.) Sign up to take advantage of a sweet welcome bonus: You’ll bank 20,000 points by spending $2,000 or more with your card within the first 90 days, and an extra 10,000 points by opting for e-statements in the same time frame. There is a $120 annual fee, but because you can add up to nine more cardholders for free, you can join forces with your partner and family members to rack up points faster. Plus, your points will never expire. In addition to travel and cash back, you can redeem points towards charitable donations, gift cards and merchandise.
Annual fee: $120
Welcome offer: earn 20,000 bonus points (approximately $165 in cash back value) after you make $2,000 or more in eligible purchases within the first 90 days. (Not available for residents of Quebec.)
Card details
| Interest rates | 19.99% on purchases, cash advances 24.99% on cash advances, 22.99% on balance transfers |
| Income required | $80,000 per year |
| Credit score | 660 or higher |
| Point value | 1 MBNA Rewards point = $0.01 when redeemed for travel. |
At a glance: This card gets the nod for its strong offer of 2 TD points per $1 on everyday purchases—including at Walmart. What does that mean in terms of getting you to your next destination faster? You get 8 TD Points per $1 on travel booked through Expedia For TD; 6 TD Points per $1 for groceries and restaurants; 4 TD Points per $1 spent on recurring bill payments; and 2 TD Points for everything else.
Annual fee: $139 (waived first year)
Welcome offer: Earn up to $1,000 in value, including up to 135,000 TD Rewards points and no annual fee for the first year. Conditions apply. Account must be approved by January 6, 2025.
Card details
| Interest rates | 20.99% on purchases, 22.99% on cash advances, 22.99% on balance transfers |
| Income required | Personal income of $60,000 or household income of $100,000 |
| Credit score | 680 or higher (recommended) |
| Anniversary bonus | Earn an annual birthday bonus of 10% of your previous year’s points (up to 10,000 points). |
| Point value | 1 TD Rewards point = $0.005 when redeemed for travel via Expedia For TD or $0.004 when redeemed through other providers and websites. |
At a glance: Cardholders earn points at a rate of 2 points per $1 spent on gas, restaurant and grocery purchases (up to $5,000 per year per category), including at Walmart Supercentres. Other purchases made at Walmart Supercentres is also at a 2 points per $1 earn rate, and 1 point per $1 spent everywhere else—and with each point worth up to $0.01 when redeemed for travel rewards, you’re seeing a return of up to 2% on spends at Walmart. The welcome bonus of up to 10,000 points gets you off to a great start. When it comes to redemption, flexibility is the name of the game: MBNA Rewards points can be redeemed for cash back, travel merchandise and gift cards. They can even be used towards charitable donations. Unlike other no-annual-fee cards, this product includes an almost unheard-of suite of insurance products. In addition to the usual extended warranty and purchase protection, card holders for the MBNA Rewards Platinum Plus have up to $1-million in travel accident coverage, $2,000 in trip interruption insurance, $200,00 in rental car accident coverage and rental car theft and damage coverage.
Annual fee: $0
Welcome offer: earn 10,000 bonus points ($50 in cash back value). Plus, get 4 points per $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days. (Not available for residents of Quebec.)
Card details
| Interest rates | 19.99% on purchases, 24.99% on cash advances, 22.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
| Point value | 1 MBNA Rewards point = $0.01 when redeemed for travel. |
At a glance: If you’re carrying a balance for any reason, the very first thing to do is take a look at your options before you’re charged interest at a high rate. You may decide to open up a line of credit or consolidate your debt, but if you decide to transfer your debt to a low-interest card, MBNA is a great option. The MBNA True Line Mastercard offers an interest rate of just 12.99% on purchases; compare this to the 19.89% charged by Walmart. And, to save you even more, this product has a 0% promotional rate for the first 12 months on balance transfers, to help you reduce your debt even more quickly.
Annual fee: $0
Balance transfer offer: Receive a 0% interest rate for 12 months on balance transfers completed within 90 days. (Offer not available for residents of Quebec.)
Card details
| Interest rates | 12.99% on purchases, 24.99% on cash advances, 17.99% on balance transfers |
| Income required | None specified |
| Credit score | 660 or higher |
If earning rewards for grocery purchases is important to you, keep in mind that Walmart Supercentres may not be considered grocery stores for points-collection purposes by certain credit card providers—so it’s important to read the fine print. Only Mastercard counts Walmart Supercentre purchases as “groceries.”
Share this article Share on Facebook Share on Twitter Share on Linkedin Share on Reddit Share on Email
Sponsored By
Simplii Financial
Sponsored By
EQ Bank
Would swapping a house for cash from a corporation save on taxes? And is this tactic worth it in...
Here’s what to keep an eye on as we head into the new year, from the housing market and...
Bank of Canada makes a big cut, U.S. inflation is up, Oracle ends a great year on a low...
Partner content from
Zensurance
Credit cards with car rental insurance provide coverage if your rental car is damaged or stolen. These are the...
Created By
Ratehub.ca
Thanks for the info. I am trying to buy a camera that you only sell online for 2000.00. I Have the money 10 times over but can’t buy it because I have no credit card. I will shop elsewhere. Take care. I wish we still had Sears instead.