The Walmart Credit Card APR is 17.99% or 27.74% (Variable), based on your credit standing. Please note that this card has an even higher interest rate for cash advances, at 27.74% (V).
On the other hand, the Walmart® Store Card comes with a 27.74% (V) APR. This card, though, can only be used at Walmart stores, Walmart.com, Sam's Club, their associated gas stations, and Walmart & Murphy USA fuel stations.
It’s worth noting that, 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.
You can use your Walmart Credit Card for gas at any station. But if you have the Walmart® Store Card, you can only use it to buy gas at Walmart, Murphy USA, Sam’s Club, and Walmart Neighborhood Market stations.
Here’s where you can use your Walmart Credit Card for gas:
Walmart Neighborhood Market: Some stores with stations
Any Stations Accepting Mastercard: Only applies to the Capital One Walmart Rewards® Mastercard®
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. You can also redeem your rewards for cash back, recent purchases in and out of Walmart, travel, and gift cards.
The Walmart Credit Card limit will be based on your credit standing once your application has been approved. However, there's no surefire way of knowing your credit limit beforehand as the issuer does not disclose this information on their website.
The factors that influence your starting Walmart Credit Card credit limit include your credit history, income, and debt. The same applies for the Walmart® Store Card, too. … read full answer
Key Things to 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.
If you're unhappy with your initial Walmart Credit Card (or Walmart® Store Card) credit limit, you can request an increase online or over the phone after you’ve had the card for at least 6 months. However, there’s no guarantee you’ll be approved.
The issuer may also automatically consider you for a higher credit limit after you’ve made your first 6 payments on time.
Ultimately, it is worth noting that the issuer uses soft pulls for credit limit increases. So, requesting a Walmart Credit Card limit increase won't affect your credit score.
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