Walmart Rewards World Mastercard and Walmart Rewards Mastercard review

Both are no fee cards that offer decent rewards, in the form of Walmart Reward Dollars, which you can spend like cash at Walmart stores. The best part is that the math is simple: 1 Walmart Reward Dollar = $1 to spend at Walmart or at online at Walmart.ca (you just have to use them in $5 increments). So essentially, the earn rates can be calculated similarly to a cash back credit card, with the caveat that they can only be used at Walmart.

The entry-level Walmart Rewards Mastercard caps out at 1.25% earned on every dollar spent in store at Walmart or online. The card also offers 1% at gas stations. The Walmart Rewards World Mastercard also offers 1.25% back in store at Walmart, but bumps the incentive up to 3% for online purchases and 1.25% at gas stations. Both cards earn 1% on purchases made anywhere else. Where the cards also differ is with the perks they offer (more on that below).

To help you decide if they’re right for you, we compare the cards and let you know which one is best suited to each type of shopper.

Walmart Rewards World Mastercard

If you have a high household income (upwards of $100,000 annually) and shop at Walmart, this is a card to consider. This premium credit card rewards you on your spending, and especially generously online, where it offers 3% rewards. It also offers a slightly higher earn rate on gas (1.25%) than the basic card. Aside from that, the major difference is the perks. It gets you a free extended warranty plan, that doubles the manufacturer’s warranty on items you bought on your credit card up to one year. It also comes with purchase assurance that will reimburse you if an item you’ve purchased is lost, stolen or damaged in the first 90 days. If you shop a lot at Walmart for things like home appliances and electronics, you could benefit from the cash back you’d earn coupled with these perks.

• Annual fee: $
• Interest rates: % on purchases, % on cash advances (21.97% for residents of Quebec)
• Rewards: earn 3% at Walmart.ca, 1.25% in-store in Canada, 1.25% at gas stations, 1% everywhere else
• Welcome offer: You can
• Income requirement: $100,000 household
• Perks: Access to the extended warranty plan (on items such as laptops and tablets for mechanical and electrical failure, and manufacturer defects) and balance protection plan 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
• Who it’s good for: High-income frequent shoppers at Walmart or at Walmart.ca looking for straightforward, easily redeemable dollars

Walmart Rewards Mastercard

This Walmart Rewards Mastercard is much more accessible than the above card, requiring the (relatively) low income of $12,000. And, like the Walmart Rewards World Mastercard, it has no annual fee. Of course, it features incentives to those who shop frequently at Walmart, too. Earn 1.25% on every dollar spent at Walmart stores and at Walmart.ca, and 1% everywhere else including at gas stations. Otherwise, aside from a much steeper earn rate on Walmart.ca purchases that the above card offers, and a few missing perks, these cards aren’t very different.

• Annual fee: $
• Interest rate: purchases %, cash advances 22.99%
• Rewards: 1.25% at any Walmart store in Canada or online at Walmart.ca, 1% at gas stations, 1% everywhere else
• Welcome offer: Earn a total of $25, including $15 welcome bonus and an additional $10 when you sign up for paperless statements
• Income requirement: $12,000 per card holder
• Who it’s good for: Frequent shoppers at Walmart (even students with a part-time job) looking for straightforward, easily redeemable dollars

Are these really the best cards to use at Walmart? 

With both cards, loyal Walmart shoppers earn a lot on everyday purchases they’d be making anyway. The major perk to these cards is that they offer a simple and easy-to-understand reward system. Unlike other reward programs with miles and points, Walmart Reward 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 Reward Dollars in store and at Walmart.ca. The only significant benefit of going with the premium card is going to be if you shop at Walmart.ca more often than in store, and if you use those purchase insurance perks.

That being said, these cards don’t stack up against other cash back cards that have higher earn rates on essentials like gas and groceries and allow you to redeem the cash back anywhere, to boot. While both Walmart Rewards cards we’ve reviewed are good for frequent Walmart shoppers, there are other credit cards that can help you earn on essentials, at Walmart and beyond. For instance, if you’re willing to pay an annual fee of $99, the American Express SimplyCash Preferred Card provides 2% cash back—more than the 1.25% offered in-store at Walmart.

If you want a no-fee option, 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.) The Rogers World Elite Mastercard offers a solid earn rate of 1.25% everywhere you shop, too. 

The Walmart Rewards Mastercard and World Mastercard are suited to loyal Walmart shoppers, and families in particular, who want a simple rewards system for everyday purchases. For those looking to shop at Walmart online, the Walmart Rewards World Mastercard does offer the highest incentive. 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.

More on credit cards: 

• The best grocery credit cards in Canada
• Canada’s best credit cards for gas
• The best credit cards to use at Costco