One of the biggest retail giants in Canada is Walmart – with more than 400 stores across the country. For many, it’s a one-stop shop for household shopping.
And it may be of no surprise to you that Walmart issues their own credit cards. After all, you may have been asked to apply the last time you went through a checkout.
Walmart issues 2 credit cards for you to consider – the Walmart Rewards Mastercard and the Walmart Rewards World Mastercard – both of which are no fee and earn you Walmart Rewards Dollars.
So how do Walmart credit cards compare to others? Are they the best cards for shopping at Walmart?
Here are the details on Walmart Mastercards and their competition.
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3 Walmart credit card benefits
Lots of people love Walmart, but is there as much to love about Walmart credit cards?
Here is what both Walmart credit cards offer – the
Earn Walmart Rewards on all your purchases
You will earn Walmart Rewards on all purchases you make with these credit cards.
For the base version, you’ll get:
- 3% back in Walmart Rewards at Walmart
- 1% back in Walmart Rewards on all other purchases
Upgrade to the World version, and here’s what you’ll get instead:
- 3% back in Walmart Rewards at Walmart
- 1% back in Walmart Rewards on all other purchases
But there’s a point to note about both of these cards.
When shopping at Walmart, you only earn rewards on the pre-tax amount. When earning credit card rewards, it’s almost always based on the total transaction amount.
So assuming a 13% tax rate, the real returns for these cards, when shopping at Walmart, are:
- Online at walmart.ca (World only) – 2.54%
- In-store at Walmart (both cards) – 1.1%
If you’re a frequent Walmart shopper, these rewards can be pretty enticing and a nice thing is that your rewards never expire.
WIth these cards, you’re earning Walmart Rewards Dollars, which have the same value as an actual dollar. You can redeem your rewards in $5 increments, both in-store and online.
No annual fee
Regardless of which Walmart credit card you have, they both have no annual fee, so it will never cost you anything to keep these cards in your wallet.
Income requirements
There are varying income requirements for these cards.
- For the Walmart Rewards Mastercard, there are no income requirements to worry about, making it more accessible.
- The World version on the other hand, will require you to have a household income of $100,000 to be approved.
3 Walmart credit card drawbacks
Of course, Walmart credit cards have a few drawbacks you should also be aware of.
Inflexible rewards
The primary issue with Walmart Rewards is that they can only be redeemed for purchases you make at Walmart. This is essentially a store credit card that earns rewards that are only useful in one very specific place.
If you want more flexibility in how you use your rewards, you’d be better off looking for a cash back credit card, or a flexible rewards credit card that gives you a number of different ways to redeem your points.
Middling earn rate for most purchases
1.25% is a reasonable earn rate for a no fee credit card, but…that earn rate only applies to your purchases at Walmart, or online at walmart.ca. Outside of those, you’ll only earn 1% on all of your other purchases with this credit card, which isn’t bad, but isn’t best, particularly when you can only redeem those rewards for…more Walmart stuff.
Subpar welcome bonus
Credit card welcome bonuses are meant to encourage you to throw caution to the wind and try out a new credit card.
The Walmart Rewards Mastercard’s welcome bonus isn’t much to get excited about however, being worth a grand total of $25 in (you guessed it) Walmart Rewards.
How to get the Walmart credit card
If you’re a die-hard Walmart fan and want to get one of these credit cards for yourself, you can do so by applying directly using our secure links (the regular version here and the World version here).
Once you get approved, you’ll be given a temporary shopping pass, so you can start racking up those Walmart Rewards right away.
The best no fee credit cards for Walmart Canada
Now that we know all the details of the Walmart Rewards Mastercard and Walmart Rewards World Mastercard, let’s see how it stacks up to the competition.
Here are our top no fee credit card alternatives.
| Category | Credit card | Average earn rate | Special features | Apply now |
|---|---|---|---|---|
| Best no fee credit card in Canada | Brim Mastercard | 1.3% | Up to 30% cash back from selected retailers | Apply now |
| Best no fee cash back credit card for groceries | BMO CashBack Mastercard | 1.01% | 3% cash back on groceries, including at Walmart Supercentres | Apply now |
| Best no fee cash back American Express | American Express SimplyCash | 1.25% | 1.25% cash back on all purchases | Apply now |
| Best travel credit card with no annual fee | MBNA Rewards Platinum Plus Mastercard | 1.40% | Bonus rewards on restaurants, groceries, and bills | Apply now |
| Best no fee flexible rewards credit card | Tangerine Money-Back Credit Card | 1.14% | Bonus rewards on up to 3 categories of your choice | Apply now |
Let’s take a closer look at what each of these credit cards has to offer.
One thing to keep in mind is that Mastercard recognizes Walmart Supercentres as grocery stores.
Best no fee credit card in Canada
The
While its everyday earn rate is only 1% back for most purchases, there’s more to this card than meets the eye. You see, you can earn up to 30% back at Brim’s partner retailers. If you can take full advantage of those bonus deals, the earn rate on this credit card will skyrocket.
You can also earn up to $200 in bonuses for first purchases with participating retailers, giving you a solid head start on your earnings.
Above and beyond just regular rewards, the Brim Mastercard has a lot to offer, including:
- 4 types of complimentary insurance coverage, including mobile device protection,
- a 0% foreign exchange fee, and
- optional installment payments on purchases of $500 or more.
All in all, this is a solid choice for a no free credit card.
Best no fee cash back credit card for groceries
$20 GeniusCash + Up to 5% cash back + No annual fee.*
Want something a bit simpler that will just save you the most on groceries? The
This no fee cash back credit card earns:
- 3% cash back on groceries (up to $500 spent per month),
- 1% cash back on recurring bill payments (up to $500 spent per month), and
- 0.5% cash back on all other purchases.
You’ll also start with a welcome bonus earn rate of 5% cash back for the first 3 months, up to $2,500 in spend.
A few other features of this credit card include:
- up to 25% savings on rental cars with either National or Alamo,
- basic purchase protection and extended warranty coverage, and
- the ability to redeem your cash back on demand.
While the base earn rate on this credit card is a low 0.5%, if you paired this with any of these other alternative cards and just used this one for grocery purchases, you’d boost your rewards even more.
If you’re looking for more from a cash back credit card, BMO also offers the
You’ll earn 5% cash back on groceries, up to $500 spent per month. It’s one of the best rates for a cash back credit card in Canada.
GC: $150
Best no fee cash back American Express
The
No need to worry about caps or categories, just the simplicity of knowing that you’ll have a solid rate of return on all your spending.
But that’s not all you’ll get with this cash back Amex. You’ll also enjoy:
- access to American Express Invites and Front of the Line, and
- 3 types of complimentary insurance, including $100,000 travel accident coverage.
And while you’ll still need to have a good credit score to get this card, there are no income requirements at all, putting it within reach of most Canadians.
Best travel credit card with no annual fee
Prefer to earn valuable travel rewards that you’ll be able to cash in for some future whirlwind trip or sunny vacation? The
Your rewards bank will start with a boost of up to 10,000 MBNA Rewards after spending $500 in the first 90 days and signing up for paperless e-statements.
As for rewards, you’ll earn:
- 2 points for every $1 spent on restaurants, groceries, and select recurring bills (up to $10,000 spent annually per category)
- 1 point per $1 spent on all other purchases
Wondering what MBNA Rewards are good for? Well, to get the most value from them, you’ll redeem them for travel, but you can also use them to get gift cards, merchandise, or even cash back.
In addition, you’ll get 3 types of complimentary insurance coverage, including all 3 types of rental car insurance, which can save you an enormous amount of money if you rent cars with any frequency.
Best no fee flexible rewards credit card
×1 Award winner GC: $120
1x Award winner
Finally we have the
The categories you can choose from include:
- grocery,
- furniture,
- restaurants,
- hotel-motel,
- gas,
- recurring bill payments,
- drug store,
- home improvement,
- entertainment, and
- public transportation and parking.
The credit card only gives you 2 bonus categories, but if you have a Tangerine Bank account, you get to choose a 3rd category, making it an excellent choice to use in combination with other credit cards to maximize your rewards.
For example, if you use this credit card in conjunction with the BMO CashBack Mastercard and the Amex SimplyCash Card, you’ll earn 3% on groceries with the BMO credit card, 2% in 3 categories with the Tangerine credit card, and 1.25% on everything else with the Amex credit card.
And you’ll be able to do that all for no annual fee.
Best Walmart credit cards compared
Let’s take a look at how these credit cards measure up based on a few different factors.
Average rate of return
To calculate the average rate of return for a credit card, we use a typical monthly spend of $2,000 across a number of everyday spending categories.
If your spending patterns differ from the number we use, your mileage may vary. If you would like to see exactly how much you might earn with each of these credit cards, you can punch in your own numbers on each credit card page, as linked above.
That said, here’s how these cards measure up, given our typical spend. Keep in mind, our Walmart numbers factor in that earning rewards at Walmart is only on the pre-tax amount.
Both Walmart cards do quite well, as they average at least 1% back on all purchases, but do fall a pinch short compared to the others.
Insurance value
Here’s where Walmart credit cards are at a significant disadvantage, as one includes no insurance at all, and the other just has extended warranty and purchase protection.
Since it’s a travel credit card, the MBNA Rewards Platinum Plus, with its collection of 3 types of insurance coverage, is in the lead.
Perks value
No fee credit cards are generally lacking in terms of included perks. The more valuable perks are generally reserved for premium travel credit cards with high annual fees, as you might expect.
Even still, the Brim Mastercard has a lot of value here.
The Walmart credit card falls far behind when it comes to perks, while the other 4 no fee credit cards provide similar benefits to cardholders.
Bottom line
You can save loads of money by shopping at Walmart, but the Walmart Rewards Mastercard might not be the best choice for your Walmart (and other) purchases.
What’s your opinion of the Walmart credit card? Do you have one? Do you love it?
Or do you have another credit card you’d recommend for shopping at Walmart?
Let us know in the comments!
FAQ
What’s the best credit card for Walmart Canada?
The best credit card for shopping at Walmart Canada depends entirely on you. If you’re a hardcore Walmart fan who spends most of their money at Walmart, the Walmart credit card might be right for you. But if you’re a savvy shopper who maximizes your savings by shopping the sales in a number of different stores, there may be a better rewards credit card for you.
Does Walmart have a store card in Canada?
Walmart offers 2 credit cards for Canadians, one of which is the Walmart Rewards Mastercard. Is it the best credit card for you? We dug into the details and looked at how it measures up to a number of other no fee credit cards that can help save you even more.
Do you get instant approval for a Walmart credit card in Canada?
Walmart Canada Bank offers instant approval for their credit card applications. If you apply and are approved, you’ll even receive a temporary shopping pass so you don’t have to wait for your physical Walmart Rewards Mastercard to arrive in the mail before starting to rack up those Walmart Rewards.
Is it hard to get a Walmart credit card in Canada?
You’ll need a good credit score in order to be approved for a Walmart credit card, but the base version has no income requirements. This puts the Walmart Rewards Mastercard well within reach of most Canadians. That said, there are other no fee credit cards with similar eligibility requirements that earn better rewards and have more perks and benefits.
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