Capital One® Walmart Rewards® 2021 card review – Forbes Advisor

The Capital One Walmart credit card earns at the following rates:

  • 5% Cash Back on Walmart.com and the Walmart app, grocery pickup and delivery. (This does not include Sam’s Club or Sam’s Club gas stations, which earn 1%)
  • 2% Cash Back at Walmart stores, Walmart and Murphy USA gas stations, restaurants, travel, and gift cards purchased in-store, online, through the app or with Walmart Pay
  • 1% cash back on all other expenses

If you already go straight to your Walmart app when you need to shop, you’ll be rewarded with a generous 5% cash back on your purchases. This includes the pickup and delivery of groceries, which makes the Walmart Rewards card somewhat unique. Most stores that offer groceries as a bonus category will exclude big box stores such as Walmart in their fine print. That said, if you prefer to shop in person, your rewards will be significantly less lucrative after the first year. If you connect your card to Walmart Pay and pay for your in-store purchases that way, you’ll earn 5% cash back for the first 12 months, then 2% thereafter.

Earning 2% cash back on meals, travel and co-branded gas stations could be achieved with a direct cash back card and 1% cash back on other purchases is not competitive with the best cash back credit cards.

Redeeming rewards

Credit on statement is the easiest way to apply Walmart Rewards card rewards. You can also use the rewards to redeem them when paying online at Walmart.com, to pay with points at checkout through Walmart Pay, as an eraser for Walmart purchases, to book travel through the Capital One portal, or for gift cards. Since the value is the same regardless of the method, redeeming for a statement credit is the way to go as it can be applied to any purchase made on the card.

Reward potential

To determine the rewards potential of credit cards, Forbes Advisor uses data from various government agencies to determine both basic income and spending averages across various categories. The 70th percentile of salaried households earn $ 100,172 per year, and we base spending on that number.

Walmart Credit Card offers 5% cash back for the first 12 months on all Walmart Pay purchases. For this review, we’re assuming all Walmart purchases will receive 5% Cash Back, even after the first year, as items ordered through the app are readily available for in-store pickup. Additionally, Forbes Advisor assumes that all gas purchases are made at a station owned by Walmart (which includes Murphy USA).

We estimate that our household sample spends $ 5,687 on groceries, earning $ 284.35 in cash back per year. Earning 2% cash back on $ 4,406 in restaurant purchases equals $ 88.12, while $ 3,185 on trips earns $ 63.70. Spending $ 2,687 on gas earns $ 53.74 at 2% off, and the remaining $ 10,445 in spending would add an additional $ 104.45, bringing the annual cash back total to $ 594.36.

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