Wal-Mart offers two basic credit cards — a Walmart store credit card and a Walmart MasterCard. See below for a summary of each and a review / opinion on which is better:
- The Walmart Credit Card is a card that offers you credit in order to make purchases at Walmart stores only. (You can use it at the Walmart-owned Sam’s Club, too.) In addition, it allows you to save 5 cents per gallon on gas purchases at Walmart gas stations, and it also allows you to access your FICO credit score for free each month if you choose to get your card statement electronically. There is no annual fee for this card. Interest rate is a hefty 22.9%.
- The Walmart MasterCard offers everything the store-only Walmart credit card offers, plus it allows you to make purchases anywhere MasterCard credit cards are accepted AND it offers you 1% cash back on your purchases. Specifically, you get a $5 statement credit every time you’ve spent $500 with the card. It has no annual fee but the same high 22.9% APR as the store card above.
Looking at the two Walmart credit cards, it seems obvious that the Walmart MasterCard offers a better value. So why would you ever choose the Walmart Credit Card?
Well, in most cases, you wouldn’t. But the catch here is that when you apply for a Walmart credit card, you really aren’t choosing which card you want — instead they are choosing which card to give you based on your credit history. If you meet their credit standards, you will get the Walmart MasterCard. If not, they will offer you the store-only Walmart card.
Both Walmart credit cards are issued by Synchrony Bank (formerly known as GE Capital Retail Bank).
Go here to apply for the Walmart credit card via an online application.