The Walmart Credit Card is a privilege granted to frequent customers of this chain of stores, allowing them to purchase items and choose to pay in installments.
In the following article, we want to show you the tutorial for applying for the Walmart credit card and its most significant features. Below are the titles to be explained.
- About Walmart
- Do you know the Walmart Credit Card?
- Differences between a Walmart credit card and a conventional one
- What are the requirements to apply for the Walmart Credit Card?
- Interest rate applied to the Walmart Credit Card
- How to apply for the Walmart Credit Card in the USA?
- How does the Walmart web application work?
- Benefits of applying for the Walmart Credit Card
- Walmart and Capital One information
About Walmart
Walmart is an organization dedicated to the commerce of a myriad of items, which has managed to win over not only the American public but also many others in Latin America.
The diversity of its catalog alongside the potential of its team has made Walmart one of the most profitable companies in the United States today.
Financial Products Offered by Walmart
Similar to other store networks of this kind, Walmart has devised a credit card with two versions, to make it easier to purchase products, as a privilege for those who frequently visit these establishments.
The basic version allows you to make purchases within the Walmart store network in the United States. The Rewards version, backed by MasterCard, expands your options.
Do you know the Walmart Credit Card?
The Walmart Credit Card is a tool with two versions, issued under the agreement between this retail chain and Capital One, one of the most important financial entities in the United States.
It is a financial product aimed at those who do not have enough liquidity to purchase certain items sold in these establishments and who decide to rely on the credits it offers.
With this card, you can not only obtain a fund payable in installments but also hundreds of benefits linked to your Walmart consumption.
Features that characterize the Walmart Credit Card
The Walmart credit card is a tool that stands out not only for being easy to obtain, as it does not require meeting many requirements, but also for having significant elements that distinguish it.
- No annual fee is charged;
- You can apply for the Walmart Rewards consumption refund program;
- You can redeem the rewards you receive for products, gift cards, or travel;
- You can apply for it online;
- It has a mobile app for managing your account from your electronic device.
However, one of the most significant features is that it is an excellent option to start in the world of credit, as it offers a preferential interest rate.
Differences between a Walmart credit card and a conventional one
Although the Walmart Credit Card is a financial instrument that serves the same function as other cards, it's essential to highlight the elements that set it apart from other options.
- You can benefit from exclusive promotions at Walmart;
- The benefits not only apply at Walmart in the United States but also in the network of establishments worldwide;
- It's a tool that doesn't hold you responsible for fraud, so in case of loss or cloning, you won't have to assume that debt.
You can receive cashback of up to 5% not only for purchases made at Walmart but also at gas stations, restaurants, or other establishments identified as partners in this network.
How does the Walmart Credit Card work in the United States?
The operation of this card is similar to a conventional one, as one of its versions is backed by MasterCard, allowing you to make purchases or expenses at any establishment.
However, the idea behind launching a Walmart credit card into the market is to encourage the public to enhance its use through the benefits it provides for each purchase made within the store.
Moreover, the company also offers you the opportunity to apply for the closed-loop credit card, which you can only use within the Walmart stores located in the United States.
What are the requirements to apply for the Walmart Credit Card?
Any version of this card you choose must meet certain requirements stipulated by the store chain and Capital One as the financial entity. Some of the most significant ones include the following:
- Having a valid identification document verifying your legal stay in the United States;
- Having a legally registered address within the country;
- Having a legal and verifiable source of income.
Additionally, it is important that your credit history has remained positive in managing similar financing products or at least that you have not defaulted.
Requirements to apply for the Walmart Credit Card in the USA
The requirements that this retail network demands in order to assess your profile as an applicant are simply meant to provide backup for the information you provide in the application process. Therefore, you must provide the following:
- Legal identification where the bank can view your Social Security Number;
- Proof of income or employment certification;
- Proof of address document in your name.
It is important to note that the financial institution, together with Walmart, is responsible for analyzing your profile and determining your eligibility to receive this card;
Interest Rate Applied to Walmart Credit Card
For purchases made with this credit card, Capital One applies a variable APR ranging from 17.99% to 27.74%, depending on the risk you pose as a customer.
For cash advances, the institution applies a fixed interest rate of 27.74% to the total amount of monthly cash withdrawals you perform with the card.
Additional Fees Applied for the Use of Walmart Credit Card
It is important to note that this credit card does not require an annual fee to maintain the credit line. However, you should take into account the application of certain fees within the Total Annual Cost.
- For cash withdrawals, amounting to 3% of the total or $10;
- For balance transfers, you will have to pay 3% of the total transferred.
In the event of late payments or non-payment, you will be subject to the application of a special interest rate and any associated administrative expenses.
How to apply for the Walmart Credit Card in the USA?
Applying for this card is simple. You can do it in person, through the website, from the Walmart app, or at any of the stores in this retail network. To apply online, you just need to follow the following steps.
- Go to the Walmart website and find the pre-approval button to ensure you qualify as an applicant;
- Then, enter the requested information in the calculator tool, including your FICO Score;
- If your pre-approval is positive, register on the website and log in with your personal data;
- Next, fill out the form indicating your income and other financial details;
- Finally, submit the form and wait for the bank's response.
It’s important to note that applying for this card online requires uploading your digitized documents to support the information in the form.
Things to consider before applying for the Walmart Credit Card
Before applying for this credit card, it is important to ensure that you meet the requirements set by both companies to minimize the risk of receiving a negative response.
You should have clarity regarding your debt capacity, as despite being a card that offers a preferential interest rate, failing to make payments could harm your credit history.
It is also important to carefully analyze the interest rate and fees applied so you can have a clear understanding of your ability to make the agreed payments.
How does the Walmart web application work?
The Walmart App is another digital tool through which you can apply for a credit card from this retail chain and make your purchases online, avoiding the need to go to any physical store.
One of the advantages of applying for your card through this channel is that you can access exclusive discounts and receive instant approval for the card.
To do so, you need to download the app on any mobile device and register with your personal information for the system to evaluate your profile and determine your eligibility for this tool.
How to apply for a credit card through the Walmart App?
After downloading it on your mobile device, you must register on the platform and log in with the credentials you have set up as a user and the assigned password. Then, you must follow the steps detailed below.
- Go to the main dashboard and locate the 'Banking' or 'Walmart Credit Cards' option;
- Enter your personal information and complete a brief questionnaire requested by the app;
- Click on 'Submit' and wait for the entity's response.
If the bank requires the submission of any document or additional information, you will be notified through the app or alternatively, by your personal email.
Benefits of Applying for the Walmart Credit Card
Although we have already mentioned the factors that make this card one of the most sought after in the retail market, it is important to list and detail some of its benefits.
- You can opt for the MasterCard-backed version and use it as a conventional card;
- There are various ways to apply for your card;
- You don't have to provide a large number of requirements;
- You can benefit from Walmart's exclusive offers and discounts;
- You can enroll in the rewards program for purchases;
- Each reward you receive can be redeemed for products, travel, or even as credit on your card;
- You can make cash advances and transfers with this credit card;
- No annual fee is applied.
However, the most significant feature of this credit card is that you can apply for it online, either through the website or the app, and receive instant approval from the bank.
Disadvantages of Applying for the Walmart Credit Card
Although this credit card offers a myriad of advantages, it is important to highlight an aspect that could position it at a disadvantage compared to other similar cards.
The disadvantage is linked to the version of the credit card that operates as a closed-loop system, as it limits those who wish to make purchases at other establishments.
However, you have the opportunity to apply for the Rewards version, which not only expands the cardholder's benefits in terms of spending but also allows you to use it in other stores.
Walmart and Capital One Information
If you wish to apply through the bank or need more information about this card, you can visit the Capital One headquarters located at 680 Capital One Drive, McLean, United States.
You can also find the nearest branch to your home or workplace on the bank's website under the 'Locations' section on the homepage.
Another option is to apply at any Walmart store across hundreds of cities in the country. To locate the one nearest to you, you can visit the website and click on 'Directory Store'.
Phones and Website
You can also contact the bank online for any inquiries about this or other cards by emailing webinfo@capitalone.com.
Another option is to request assistance by calling 1-800-227-4825 for Capital One or 1-800-WALMART to speak directly with the staff at this network of stores.
For detailed information on this credit card's features, visit Capital One's website and navigate to the departmental credit cards option in the menu.
Conclusion
The Walmart Credit Card is a payment instrument that you can benefit from, not only because you can pay in installments but also because you can participate in discounts, promotions, and exclusive programs.
Disclaimer: Approval for the Walmart Credit Card involves certain risks; therefore, we recommend that you review the terms and conditions issued by this company and Capital One.
