Walmart provides two types of credit cards including Walmart Credit Card and Walmart Master Card. Walmart Credit Card is a store card that can only be used at certain stores including Walmart, Walmart.com, Murphy USA and Sam’s Club. On the other hand, Walmart MasterCard is a card that can be used to earn cash back rewards anywhere where MasterCard is accepted.
Both cards feature the 3-2-1 save rewards program which allows you to enjoy some savings on your purchases every day. If you shop online at Walmart.com, you can save 3%. If you purchase your groceries online, you have to go to the local store to pickup afterwards. You earn 2% cash back when purchasing gas at the Walmart gas stations or Murphy USA. The standard 1% cash back applies when you spend it on purchases at other stores.
To qualify for the 3-2-1 save rewards program, your credit account must be in good standing. The cash back is disimbursed to the customers in the form of a statement credit in the following month. For example, if you earn $10 rewards this month, they will send you a $10 statement credit in the following month. If you want to receive the statement credit, you must settle your balance in full every month and not wait until it is past the due date to make the repayment. The rewards do not expire.
Both cards are also offering a signup bonus program. In the signup bonus program, you can receive a $25 cash back when you spend $25 on the first purchase. If the card is applied at the Walmart store, make sure the first purchase is made in the physical store on that day. If the card is applied online, the first purchase must be made online in order to enjoy the perk.
The cards are issued by Synchrony Bank. They have a rather high interest charges starting from 18.40% – 23.40% based on your creditworthiness. Walmart credit cards are designed for people with poor credit score below 630. It did state in the statement credit that it does not anticipate to accept a lot of applicants at low interest rate. Both cards have no annual fee and are covered with a $0 fraud liability.
You can add additional users to the card for free of charge. If you login into your account, you will be able to check the free FICO credit score. Walmart MasterCard is different from Walmart Credit Card in that it offers special financing options of 6 months, 1 year, 18 months and 2 year. Walmart credit card is ideal for people who do a lot of online shopping at the Walmart.com. The disadvantage is that it does not offer any special reward when you shop at the physical Walmart store.