Capital One and Walmart Launch Credit Card Program
September 18, 2019
Capital One and Walmart are officially launching a digital-first suite of credit cards that will deliver rich rewards to customers who shop both inside and outside of Walmart.
Capital One and Walmart share a customer-centric mindset and a commitment to digital transformation that have allowed our companies to seamlessly come together to build a digital-first credit card program that will bring tremendous value to customers’ lives.
“We are very excited to be partnering with the world’s largest retailer in an effort to further our mission and help millions of customers save even more at Walmart and everywhere else they shop,” said Daniel Mouadeb, senior vice president, head of Walmart partnership at Capital One. “Capital One and Walmart have combined our expertise to deliver a product that is in line with our shared passion of making customers’ lives easier and more rewarding.”
By working with Walmart, Capital One is able to offer a credit card rewards program that offers rich rewards, both in and out of store, and leading digital features.
Suite of Product Offerings
Capital One and Walmart are launching two new products on September 24. The Capital One Walmart Rewards Mastercard is a digital-first card that rewards cardholders for shopping at Walmart and everywhere else their card is accepted. Capital One Walmart Rewards Mastercard cardholders will be able to redeem rewards for travel, gift cards, during online checkout at Walmart.com, for recent purchases, and statement credits.
“The Capital One Walmart Rewards Card is an easy, no-effort partner in your wallet that rewards you for buying the things you need to keep your family’s busy life going,” said Pepper Evans, vice president, product strategy and marketing, Capital One. “Whether it’s online, through the app, or in store, Walmart is already a go-to destination for the things consumers need for their families to thrive, and now cardholders can earn even more rewards on purchases at Walmart and everywhere else they use their card.”
With the new Capital One Walmart Rewards Mastercard, cardholders will earn unlimited:
- 5% back on purchases at Walmart.com, inclusive of Walmart Grocery Pickup and Delivery.
- 5% back on in-store purchases when using Walmart Pay for the first 12 months after approval as a special introductory offer.
- 2% back on Walmart purchases in stores outside of the introductory offer.
- 2% back on restaurants and travel.
- 1% percent back everywhere else.
- No annual fee and no foreign transaction fees.
- The ability to redeem rewards at any time for travel, gift cards, during online checkout at Walmart.com, for recent purchases, and statement credits.
In addition to the Capital One Walmart Rewards Mastercard, Walmart and Capital One are offering the Walmart Rewards Card. These cardholders will earn the same 5% back on purchases made on Walmart.com and the Walmart app; the 5% introductory offer for using Walmart Pay for in-store purchases for the first 12 months after approval and an unlimited 2% back on Walmart purchases in stores after expiration of the introductory offer; and 2% back at Walmart Fuel Stations.
Digital-First Credit Card Program
Capital One and Walmart approached this credit card program with a digital-first mindset to give customers the tools they need to manage their card from the palms of their hands. The program brings a variety of innovative features that reimagine how customers interact with their credit card.
While customers can apply for the card on Walmart.com, the Walmart app, or CapitalOne.com, Walmart and Capital One have also created a mobile application experience. Applicants can text to apply from anywhere and then complete their application on their personal mobile devices. Once applicants are approved and their identity is verified, they will receive immediate access to their card. If new cardholders sign up for Walmart Pay or already have an account, they can easily load their card into the Walmart app for use in-store and on Walmart.com - there is no need to wait for the card to arrive in the mail.
“We are excited to offer a truly digital experience for customers where, for example, Walmart shoppers can apply for the card in-store via the Text to Apply feature, and if approved and eligible, use their new card digitally at checkout moments later,” said Ritin Dhawan, vice president, customer experience and partner operations at Capital One.
Cardholders can also take advantage of many digital tools from Capital One, including intelligent, real-time purchase notifications, security alerts, 0% fraud liability if the card is lost or stolen, and the ability to lock and unlock their card directly through the Capital One mobile app.
These card offerings are just the beginning of our relationship with Walmart. Our companies are committed to building an enduring and successful program in the coming years. We look forward to launching this suite of product offerings and plan to continue evolving the card program going forward in ways that further add value to our customers’ lives.