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Walmart Rewards World Mastercard Review (2023)

Walmart Canada offers two credit cards that shoppers can use to earn rewards when they shop at the retailer online (at or in the store.

The Walmart Rewards Mastercard and Walmart Rewards World Mastercard are both no-annual-fee cards, and you receive a welcome bonus of up to $25 when you sign up.

The Walmart Rewards World Mastercard review covers its benefits, downsides, and alternative cards for shopping at Walmart.

Walmart Rewards World Mastercard – At a Glance

  • Annual fee: $0
  • Earn 3% cash back at and 1.25% in-store
  • Earn 1.25% at gas stations and 1% everywhere else
  • 19.89% purchase interest rate
  • 21.49% cash advance interest rate

Walmart Rewards World Mastercard Benefits

1. No Annual Fees: This card has no annual fees, and you can also get free supplementary cards for family members.

2. Cash Back Rewards: The Walmart Rewards World Mastercard offers “real” cash back in the form of Walmart Reward Dollars when you shop at Walmart and elsewhere.

You earn:

  • 3% cash back at
  • 1.25% cash back at physical Walmart stores
  • 1.25% cash back at gas stations
  • 1% everywhere else

Walmart Reward Dollars are equivalent to cash on a 1:1 basis, and you can redeem your earnings for future purchases made online or in the store.

3. Insurance Coverage: Cardholders enjoy purchase assurance with protection against theft, loss, or damage to eligible purchases in the first 90 days when you pay using your card. It also offers extended warranty coverage for up to one extra year.

4. Sign-up Bonus: This card offers a welcome bonus of up to $25 as follows:

  • $15 when you make two qualifying purchases within the first 30 days (one purchase at Walmart and the other elsewhere).
  • $10 when you sign up for electronic documents.

Walmart Rewards World Mastercard Downsides

To qualify for the Walmart Rewards World Mastercard, you need a household of at least $100,000.

Also, your cash back earnings can only be redeemed at Walmart. You can’t redeem it for purchases elsewhere or use it to clear your statement balance.

Walmart Rewards World Mastercard Alternatives

There are other no-fee credit cards that offer a higher cash back rate on grocery and other purchases regardless of where you spend.

Examples include the Tangerine Money-Back Credit Card and SimplyCash Card from American Express.

1. Tangerine Money-Back Mastercard

Tangerine Money-Back Credit Card

Rewards: Earn up to 2% unlimited cash back in up to 3 spending categories and 0.50% on all other purchases.

Welcome offer: Get an extra 10% cash back on up to $1,000 in spending in the first 2 months ($100 value); 1.95% balance transfer rate for 6 months.

Interest rates: 19.95% for purchases, balance transfers, and cash advances.

Annual fee: $0

The Tangerine Money-Back Credit Card offers up to 2% unlimited cash back on purchases you make in up to three categories (including groceries, gas, and recurring bill payments).

  • Annual fee: $0
  • Cash back offered: up to 2%
  • Minimum income required: $12,000
  • 19.95% interest rate (purchases and cash advances)

It also offers purchase protection and extended warranty coverage. Cash back earned is paid out monthly.

2. SimplyCash Card from American Express

SimplyCash Card from American Express

Rewards and benefits: Earn up to 2% cash back on gas and groceries; 1.25% cash back on all other purchases; travel accident insurance.

Welcome offer: Earn a $10 statement credit each month you spend $300 in purchases on your Card in the first 10 months (up to $100 value).

Interest rates: 20.99% on purchases and 21.99% on cash advances.

Annual fee: $0

This card offers a flat 1.25% cash back rate on most purchases without limit and up to 2% cash back on groceries ($300 annual cash back cap at this earn rate).

  • Annual fee: $0
  • Cash back offered: 1.25% on all purchases
  • Minimum income required: N/A
  • 19.99% on purchases; 21.99% on cash advances

Cardholders also get access to travel accident insurance, purchase protection, and extended warranty coverage.

 Walmart Rewards World MastercardTangerine Money-Back MastercardSimplyCash Card from AMEX
Annual fee$0$0$0
Cash back rewards3% at; 1.25% in Walmart stores, 1.25% on gas: 1% elsewhere2% cash back on up to 3 categories of spending; 0.50% on everything elseUp to 2% cash back on groceries; 1.25% cash back on all other purchase
Insurance coverageExtended warranty and purchase protectionExtended warranty and purchase protectionTravel accident insurance, purchase protection, and extended warranty
Interest ratesPurchases: 19.89%; cash advances: 21.49%Purchases: 19.95%; cash advances: 19.95%Purchases: 19.99%; cash advances: 21.99%
Learn moreRead reviewRead review

Walmart Rewards World Mastercard FAQs

How do I redeem Walmart Mastercard rewards?

You can use your Walmart Reward Dollars to pay for purchases online at or any Walmart store in Canada. The minimum redemption is $5.

Does the Walmart Rewards World Mastercard build credit?

This card works like a traditional credit card, and your credit use is reported to the credit bureaus. If you make payments on time and follow these credit-building strategies, this card could help to improve your credit score.

Are Walmart Rewards Mastercards worth it?

Those who regularly shop at Walmart can earn up to 3% cash back at the retailer, which is not bad. Also, frequent shoppers will find it easier to redeem their rewards. If you prefer to have a lot more flexibility in how and where you can spend your cash back rewards, these alternative cards are better, in my opinion.

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Gravatar for Enoch Omololu, MSc (Econ)
Enoch Omololu, MSc (Econ)

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch is passionate about helping others win with their finances and has been writing about money matters for over a decade. He has been featured or quoted in Forbes, The Globe and Mail, Winnipeg Free Press, Wealthsimple, CBC News, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, and many other personal finance publications. You can learn more about him on the About Page.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

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