Can I use my Walmart credit card anywhere? Heres the 3 things you should to know when using your walmart credit card.
3 Things You Should to Know When Using a Walmart Credit Card. Walmart, as the largest retail company in the world and ranked first among other American retail chains since 2002. Known as “Everyday Low Prices”, people like the comfort and affordability Walmart brings to the table (dinner). With everything from the clothing and furniture department to the pharmacy and full service delis, Walmart is a department store for many families.
So of course, it makes sense to get a credit card from a shop you visit often – every week, almost one third of the US population will go to the Walmart store! But what about when you want to go to Target, or literally somewhere else? We have done research on Walmart credit cards and where they can be used to make purchases, the rewards that you can (and cannot) get, along with some comparable (and superior) credit card options.
1. Depends on which Walmart Credit Card you carry
There are two Walmart credit cards that you can apply – the Walmart Credit Card and Walmart MasterCard. Walmart Credit Cards can only be used at Walmart, Walmart.com, Sam’s Club and related gas stations. The Walmart MasterCard, however, can be used wherever MasterCard is accepted.
Becoming a MasterCard is one of the largest and most popular global networks, you can be sure your card will be accepted the most anywhere, at least in the US.
If you buy your gas from a Walmart or Murphy USA gas station, using your Walmart branded card to complete the purchase will generate 2% cash back (Murphy Express station is excluded), which is a fair deal compared to other gas stations. card available. If you use a card to make purchases from Walmart and the Sam Club stores, you might shorten the best earning potential, as we will explain later.
2. Both of them carry high APRs, so you may have better options
Even though it is known for its low price, Walmart is not always known for its low interest rates. Walmart credit cards carry a variable of 23.65% APR, while Walmart MasterCard starts at 17.65% APRs up to 23.65%, at the time of this article, based on credit worthiness “and other factors” per terms and conditions. The card, however, is not known to approve those with bad credit in the first place.
If you do most of your purchases online at Walmart.com, both cards can provide a large cash-back value of 3% for all eligible transactions. If you make most of your purchases at the store, the cash back value is not very attractive, with only 1% per purchase fulfilling the requirements. This is less ideal when cards like Chase Freedom and Discover itÃ‚Â® Cash Back offer 5% returns in a rotating quarterly category.
Your Walmart prize can only be exchanged as a statement credit and is applied automatically every billing period (unless your balance is past due, in this case you will not see the prize applied until your payment is up to date.) If you carry a balance, this means a reward what you get only helps reduce the interest you pay, so you don’t get any income at all, or at least won’t like it.
Not only can the following cards be used anywhere Visa and Mastercard are accepted, most offer lower APR and better cash back prizes that can be redeemed for checks, travel gifts, gift cards, merchandise or credit statements if that is what you like – and there are options for all types of credit – no denial of bad credit to worry about!
3. Specific Financing and Purchases from New Accounts = No Rewards
When the holidays are rolling, or whenever you want to make a big purchase, it’s good to have the option to “buy now and pay later” with Walmart special financing. Special financing allows you not to pay interest on your purchases, as long as you pay with your Walmart Credit Card or Walmart MasterCard and pay the balance within six to twelve months, depending on the original purchase price.
One drawback, is that this purchase is not eligible for a prize. Purchases are also made when opening a new credit card account, because you will receive a discount in the store instead.
If interest-free financing appeals to you, you will be better off with a 0% intro APR credit card, allowing you to buy anything – not just Walmart products that qualify – and not pay interest up to 15 months or longer! Walmart credit cards have special features, especially when buying online, but each wallet must have a more flexible option that allows cardholders to get prizes everywhere.