Walmart Rewards World Mastercard Review

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.

You earn:

  • 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 MastercardTangerine Money-Back MastercardSimplyCash Card from AMEX
Annual fee$0$0$0
Cash back rewards3% at Walmart.ca; 1.25% in Walmart stores, 1.25% on gas: 1% elsewhere2% cash back on up to 3 categories of spending; 0.50% on everything else1.25% cash back on all 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

FAQs

How do I redeem Walmart Mastercard rewards?

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.

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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Author

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Enoch Omololu

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 has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. His writing has been featured or quoted in the Toronto Star, The Globe and Mail, MSN Money, Financial Post, Winnipeg Free Press, CPA Canada, Credit Canada, Wealthsimple, and many other personal finance publications.

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

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