Walmart credit card overview
Walmart Financial offers one credit card, the Walmart Rewards MasterCard, which lets you earn Walmart Rewards every time you use your card to make a purchase. When you use your card at Walmart stores, you earn 1.25% of your purchases; you can also earn 1% everywhere else you shop. Walmart Rewards are earned in dollar equivalents, not a point system, making it easier to know how much you have to redeem for purchases instantly at the cash register of any Walmart store. For example, if you spend $300 a month at Walmart and $800 a month everywhere else you shop, you would earn approximately $11.75 per month, or $141 per year in Walmart Rewards. These rewards can be redeemed in $5 increments and do not have an expiration date. The Walmart Rewards MasterCard also offers special introductory bonuses, such as $15 in Walmart Rewards for getting the card and $10 for choosing paperless monthly statements.
Other Walmart Financial services
Besides the Walmart Rewards MasterCard, Walmart Financial offers balance protection plans, extended warranty plans, product protection plans, gift cards, and provides money transfers in their stores through a partnership with Western Union.
Walmart Financial’s Balance Protection Plan for the Walmart Rewards MasterCard can cover your payments, should you become unemployed (through no fault of your own), disabled or you are hospitalized. Your entire balance would be paid off in case of critical illness (stroke, heart attack, cancer) or if you or your spouse passes away. Coverage is approximately $0.85 per $100 of your monthly statement balance (plus taxes), if you carry a balance of $25 or more.
For purchases made with your Walmart Rewards MasterCard, you have the option of getting an Extended Warranty Plan that protects all eligible Walmart Rewards MasterCard purchases for up to two additional years past the manufacturer’s warranty. This plan costs $3.99 per month (plus applicable taxes), in any month you carry a balance of $25 or more.
Walmart Financial also provides an optional Product Protection Plan for all purchases made in store or online that can replace a failed or damaged product for one to two years. The Product Protection Plan is available for general merchandise, including desktop computers, laptop computers, pre-paid
mobile phones and more.
More on Walmart Financial
Walmart Financial is a division of Walmart Canada Corp., owned by Walmart Stores, Inc., which was established in 1994. Walmart has over 9,000 discount retail stores in 28 countries, employs 2.2 million associates worldwide and serves more than 245 million customers each week. It is Canada’s largest retailers, next to Costco, Shoppers Drug Mart, Canadian Tire and Home Depot.
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