If travel is not on your radar in the foreseeable future, and if you are looking at ways to save on your groceries and daily expenses, then perhaps the two Walmart co-branded Mastercards are for you. And the best part is there is no annual fee.
The first is the Walmart Rewards Mastercard.
and the second is the Walmart Rewards World Mastercard
With both the cards, you can earn Walmart Reward Dollars every time you use your card to make a purchase at Walmart and everywhere else. Then, you can use your rewards like cash towards purchases at the Walmart store and Walmart.ca.
Currently, there is a promo during February 2021, where you could get a $15 statement credit when you’re approved for a Walmart Rewards Mastercard and spend $50 on the same day. You will receive a temporary shopping pass with instant approval. This offer is available from February 1 to February 28, 2021 and may be extended.
Additionally, you could also earn a welcome bonus of up to $25 in Walmart Reward Dollars with your new Walmart Rewards Mastercard. This $25 is broken into two parts.
The first Bonus Walmart Reward Dollars (a $15 redemption value) will be awarded to your Walmart Rewards account within five business days of making two qualifying purchases using your Walmart Rewards Mastercard, one purchase at a Walmart store in Canada or online at Walmart.ca and one purchase at another location anywhere Mastercard is accepted. Both purchases must be made within 30 days of receiving your Walmart Rewards Mastercard.
The second Bonus Walmart Reward Dollars (a $10 redemption value) will be awarded to your Walmart Rewards account within two statement periods after you sign up for electronic statements.
Now lets look at the earn ration on these cards:
The earn rate is higher on the Walmart Rewards World Mastercard but only on online at Walmart.ca and at any gas stations.
When it comes to redeeming, you can redeem Walmart Rewards in increments of $5.
So for example:
Your total purchase amount of groceries comes to $72.35 and You have $63.77 of Walmart Reward Dollars accumulated on your Account. Assuming your Account is in Good Standing, You can redeem your
Walmart Reward Dollars for a total value of $60 of the purchase amount of $72.35, as $60 is the next lowest $5.00 increment below the purchase amount. You will be required to use another form of payment for the remaining $12.35.
This is similar to holding other credit cards with cash-back but some of those have maximum limits on cash back. Besides, that limitation, Walmart Reward Dollars are earned once a Purchase transaction has been posted to the Account and typically available the next business day – so this saves you from having to wait for the statement every month to use your accrued Walmart Reward Dollars.
Written by Dominic Fernandes aka CanadaPointsGuy.
Image courtesy of Walmart.ca