Walmart Credit Card is among the various credit cards that allow you to use it for various transactions. Credit cards allow one to borrow money in times of need. There comes a time when you do not have money for your basic needs, and borrowing from a credit card issuer may be the only way you can get money. Credit cards allow you to borrow in a revolving manner. But can you use a Walmart credit card anywhere?
Some card issuers restrict how and where you can use your payment cards. Usually, such cards with restrictions are gift cards whereby you must use them in particular stores. It is not usual to see a debit or credit card issuer restricting how and where you can use your card although some do. We want to see whether Walmart is an exception to spending with your credit card anywhere you feel suitable.
Credit cards come in two types. We have the secured and the unsecured ones. The secured cards require you to deposit a particular amount to act as security. The cards are for people with bad credit scores or those who have no credit history at all. They help to build credit to qualify for unsecured credit cards and loans. Unsecured credit cards require you to have a borrowing history.
What is a Walmart Credit Card?
Walmart Credit Card is an unsecured credit card that requires good credit scores to get it. With a score of 640 or more, you can quickly get your card to use for your daily transaction needs. The requirement of credit scores to get an unsecured credit card is one of the main differences between secured and unsecured credit cards. The card gives you rewards when you carry out various transaction activities.
We have two Walmart credit cards that you can get today. They include;
- Capital One® Walmart Rewards® Card
- Walmart Rewards™ Card.
The company partnered with Capital One in September 2019 to start offering eligible consumers the cards. Let us look at each card.
i) Capital One® Walmart Rewards® Card
You can apply for the card online and start earning cash back on purchases upon approval, all with no annual fee whatsoever. You also get an introductory offer of 5% cash back in Walmart stores for your first 12 months when you use your Capital One® Walmart Rewards® Card with Walmart Pay. Walmart Pay is a quick and secure way to pay with your smartphone at Walmart.
Additionally, you can also earn 2% cash back at restaurants in Walmart stores & fuel stations and on travel. You also have a chance to earn 1% cash back everywhere else Mastercard® is acceptable. You can use the rewards in various ways, which include the following.
- Get a check or apply for a statement credit.
- Use the rewards when checking out at Walmart.com.
- Redeem for Walmart gift cards or other retailers.
- Redeem rewards for hotels, flights, and much more.
Capital One® Walmart Rewards® Card has a Regular variable APR of 17.99% to 26.99%. It has no introductory APR and also no balance transfer fee. Furthermore, you should pay no foreign transaction fees with the card. You require good/excellent credit scores. Therefore, you can not get approved for the credit card with no credit.
ii) Walmart Rewards™ Card
As I have said, the Walmart Rewards™ Card is also issued in collaboration with Capital One bank. You require good/excellent credit scores to get the card. Interestingly, the card has no foreign transaction fees, no balance transfer fees, and has zero annual fees. Again, it has no introductory APR and has a Regular variable APR of 26.99%.
When you get the card, you receive a welcome bonus of 5% back on in-store purchases using Walmart Pay for the first twelve months after getting the card. Afterward, you earn 2% cashback. You will also get other rewards for using the card. You can get 5% cashback at Walmart.com and when using the card on the Walmart app. Furthermore, you get a 2% cash back at Walmart stores and Murphy USA fuel stations.
Can you use a Walmart credit card anywhere?
You can only use the Walmart credit card at Walmart properties such as Walmart.com, the Walmart app, Walmart stores, and Murphy USA gas stations. The reason why you cannot use the card anywhere is that it is a private-label card. Such cards usually are store-specific.
However, you can use the Capital One Walmart Rewards® Card anywhere Mastercard is accepted. Therefore, it is better to get the card than the Walmart branded one as it gives you the flexibility to use it anywhere. You can still use the Capital One Walmart Rewards® Card to buy goods at Walmart properties.
Can I use a Walmart credit card for balance transfers?
Walmart cards may not be the best if you are looking for the best balance transfer credit cards for fair credit since they do not have an introductory APR. That means they may not benefit you if you move your balance to any Walmart cards. The score requirement for any card is also higher, and it can be challenging for most applicants to get any of the cards.
The best balance transfer cards usually offer 0% introductory APR for several months. Some cards can give you a 0% introductory APR for two years. During that time, you get the chance to repay your debt without much struggle. Since you have 0% APR, you will be paying your loan without interest. You need to ensure that you complete your payments within the given time. Again, you are not supposed to borrow funds with your card until you finish paying your debts.
When moving your balance to another card, you usually consider various things. The new card should have a low-interest rate compared to the new card and higher limits that match your credit scores. You can also check other benefits such as zero foreign transaction fees, zero annual fees, rewards, and so on.
Can one get a credit card without a borrowing history?
It is possible to get a credit card without any credit scores. You can get a secured credit card for rebuilding credit if you have no borrowing history or have bad credit scores. Secured credit cards need you to deposit money as security to borrow against it. The more you deposit, the higher your credit limit. That means you can only borrow against your limit. When you include interest rates, then you end up borrowing below the limit.
The security deposit is critical to ensure that your card issuer will use the money to recover the loan if you cannot pay your loan. Since the card is usually essential to building your scores, it is wise to keep low utilization ratios so that your debt does not rise to higher levels.
Once your scores rise to favorable levels, your issuer may graduate you with unsecured credit cards. Your security deposit then becomes available for use in your checking account. Remember that you must open a checking account before applying for any security deposit.
What are the benefits of Walmart credit cards?
There are various benefits you can get with your card. They include the following.
- Security alerts in your phone number and email about potentially suspicious activity on your account
- Mobile app to manage your card online.
- $0 fraud liability when your card is stolen and used illegally. If someone uses your card for purchases, you are not liable for any expenditure.
- The ability to lock your card if you lose it By doing so, you prevent unauthorized use of the card.
Which other cards can I get from Walmart?
You can get gift cards and reloadable debit cards apart from credit cards. The gift cards allow you to reward people you love with cards of various denominations during their important days, such as birthdays, wedding days, and other happy days. The only disadvantage with the gift cards is that one can only use them at Walmart stores and related businesses.
When it comes to reloadable debit cards, there are several cards that you can use for your transactions. You can get the Walmart MoneyCard, the Bluebird Visa debit card, Netspend, American Express Serve cards, Green Dot Visa debit card, and GO2 Visa debit card. You can use these cards for various transactions, not only in Walmart but in other places.
The debit cards have apps that you can download from the Play Store or App Store to manage your money. You can view card balances, send money to other card users online, transfer funds to a bank account, check transactions history, lock and unlock cards, among other activities. Even the credit cards at Walmart have apps for easy management of money.
Bottom line
Walmart Credit cards are among the best cards you can have for your transaction activities as they help you borrow money. The cards have no annual fees, no foreign transaction fees, and reward you when you use them in designated places. You require good to excellent credit scores to get them. Interestingly, you can manage your card online via an app, set alerts, and lock your card when necessary.
