Walmart Canada offers two credit cards that shoppers can use to earn rewards when they shop at the retailer online (at Walmart.ca) 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 Walmart.ca 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.
- 3% cash back at Walmart.ca
- 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 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.
1. Tangerine Money-Back Mastercard
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. Cash back earned is paid out monthly.
2. SimplyCash Card from American Express
This card offers a flat 1.25% cash back rate on all purchases without limit.
- 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.
|Walmart Rewards World Mastercard||Tangerine Money-Back Mastercard||SimplyCash Card from AMEX|
|Cash back rewards||3% at Walmart.ca; 1.25% in Walmart stores, 1.25% on gas: 1% elsewhere||2% cash back on up to 3 categories of spending; 0.50% on everything else||1.25% cash back on all purchase|
|Insurance coverage||Extended warranty and purchase protection||Extended warranty and purchase protection||Travel accident insurance, purchase protection, and extended warranty|
|Interest rates||Purchases: 19.89%; cash advances: 21.49%||Purchases: 19.95%; cash advances: 19.95%||Purchases: 19.99%; cash advances: 21.99%|
|Learn more||–||Read review||Read review|
You can use your Walmart Reward Dollars to pay for purchases online at Walmart.ca or at any Walmart store in Canada. The minimum redemption is $5.
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.
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.