Still, while the maximum APR of both Walmart cards is a bit higher than the average APR for a retail card, the low-end percentage of the Capital One Walmart Rewards® Mastercard® is comparably very good.
There are three kinds of Walmart credit card promotions right now, all of which apply to both the Walmart Store Card and the Walmart Mastercard. First, there’s a $25 statement credit for spending $25+ at Walmart the day you open your account. There are also two types of promotional financing. The first “deal” is deferred interest, where you pay zero interest on a purchase so long as you pay in full within the given time frame. But if you don’t completely pay off the balance by the end of the promotional period, you’ll be on the hook for all the interest you would have been charged had there been no 0% teaser rate. … read full answer
The other type of Walmart promotional financing is a true 0% introductory APR. If you don’t pay your purchase off by the end of this intro period, you just get charged the normal APR on any remaining balance.
Walmart credit card financing promotions aren’t always available. No items are currently eligible for deferred interest financing, for example. And true 0% intro offers are only available at some stores, so you’ll need to ask a sales employee. Those aren’t the only important details you should know, either.
Here are the Walmart credit card promotions:
If you spend $25 at Walmart the day you open your account, you’ll get a $25 statement credit in 1-2 billing cycles.
Deferred interest financing is available for 6, 12, 18 or 24 months, depending on how much you spend.
You can get a true 0% intro APR for 12 months on purchases of $299+, or 6 months if you spend at least $150.
True 0% intro APRs are only available for items purchased in-store. When Walmart offers deferred interest on an item, you can get it either in-store or online.
You won’t earn rewards on any charges that use special financing.
The two Walmart credit card promotions for financing may seem similar. But the deferred version is dangerous, so you should avoid that unless you’re absolutely sure you can pay it off. You’re better off getting your financing elsewhere, though. Citi Simplicity is a good card to consider.
Murphy USA: 1,500+ locations in the South and Midwest
Sam's Club: 500+ stations
Walmart Neighborhood Market: Some stores with stations
Any Stations Accepting Mastercard: Only applies to the Capital One Walmart Rewards® Mastercard®
You can also use your Walmart® Store Card at Walmart.com, but you won't be able to buy gasoline there.
If you do buy gas using your Walmart Credit Card, you'll get some great rewards. If you fill up at Walmart or Murphy USA, you'll get 2% of everything you spend back as a statement credit. While gas purchases for the Walmart® Store Card are limited to these locations, you can use your Capital One Walmart Rewards® Mastercard® for gas anywhere else, and you'll still get 1% back as a statement credit. You'll get these statement credits each month for the purchases you made during the month.
Your Walmart Credit Card limit will be based on the specifics of your credit, once your application has been approved. That's true for both the Walmart® Store Card (Walmart purchases only) and the Walmart Credit Card (can be used anywhere that accepts Mastercard). Which card and what credit limit you get will be based on your credit history, income, and debt load, among other factors.… read full answer
Even though neither Walmart, nor Capital One disclose any limits for their credit cards, there are a few pieces of information that can help you estimate the neighborhood in which your limit is likely to fall.
Here's what you should know about Walmart Credit Card limits:
You'll learn your credit limit when you're notified about account approval, either on the application website or by email.
The credit score requirement for Walmart Credit Card is 640, at a minimum. That means applicants need fair credit or better to be approved. The higher your score is, the higher you can expect your credit limit to be.
Walmart® Store Card also requires a credit score of 640, at a minimum. That means applicants need fair credit or better to be approved.
If you're unhappy with your initial Walmart Credit Card (or Walmart® Store Card) credit limit, you can request an increase online. Capital One uses soft pulls for these credit inquiries, so requesting an increase won't affect your credit score.
The higher your credit score is, the more likely you are to be granted a high Walmart Credit Card credit limit. You can improve your credit score by paying bills on time, keeping your credit utilization below 30%, and paying down debt. If you don't know what your score is, you can check it for free right here on WalletHub. You can also sign up for free credit reports to monitor your credit and improve your score.
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