How Do I Use Walmart Rewards In 2023? (Your Full Guide)
Using Walmart Rewards in 2023 is easy – simply use your Capital One Walmart credit card for purchases and then redeem your earned points for statement credits, cash back, gift cards and more. This comprehensive guide will explain everything you need to know to maximize the value from your Walmart credit card rewards.
Overview of Walmart Rewards Credit Cards
Walmart offers two different credit card rewards programs in partnership with Capital One:
Capital One Walmart Rewards Card – Only can be used at Walmart and gets 5% back for Walmart.com purchases.
Capital One Walmart Rewards Mastercard – Can be used anywhere and gets 5% back for Walmart.com purchases plus 2% back on dining and travel.
Both cards earn accelerated rewards points on Walmart purchases and come with additional cardholder perks. Their popularity continues to grow – as of Q3 2022, the portfolios contained over $13 billion in credit card loans, up 15% year-over-year.
Let‘s look at how you can earn and use Walmart rewards through these cards in 2023.
How Do You Earn Rewards with the Walmart Credit Cards?
It‘s easy to rack up rewards points as you shop with the Walmart credit cards:
- 5% back – Get 5 points per $1 spent at Walmart.com
- 2% back – Get 2 points per $1 spent at Walmart stores, Murphy USA and Walmart gas stations (Rewards Card); 2% back on dining and travel (Rewards Mastercard)
- 1% back – Get 1 point per $1 spent on all other purchases
For example, if you spend $250 on Walmart.com groceries in a month, you would earn 1,250 points, worth $12.50 in Walmart Rewards.
Below is a side-by-side comparison of what categories earn boosted rewards with each card:
| Walmart Rewards Card | Walmart Rewards Mastercard | |
|---|---|---|
| 5% Back | Walmart.com | Walmart.com |
| 2% Back | Walmart stores Murphy USA gas Walmart gas stations | Walmart stores Dining Travel |
| 1% Back | All other purchases | All other purchases |
To maximize rewards, focus your spending on the 5% and 2% categories with each card.
What Are Walmart Rewards Points Worth?
The rewards points you earn are each worth 1 cent, so:
- 100 points = $1
- 500 points = $5
- 1,000 points – $10
You can easily calculate your rewards value by dividing the points by 100.
For example, if you have 8,500 points that equals $85 in Walmart Rewards cash value.
How You Can Redeem Walmart Rewards Points
When you‘re ready to use your accumulated rewards points, Walmart gives you many redemption options:
Apply Points to Your Statement
Use your points as a statement credit to lower your monthly bill by 1 cent per point. Convenient and instant.
Receive Direct Deposit Cash Back
Convert points to cash and have the amount deposited into your bank account. Minimum $20 redemption.
Get a Check in the Mail
Request a physical check from Capital One for your rewards balance. Minimum redemption $20.
Buy Walmart Gift Cards
Use points for Walmart gift cards to extend your savings. Cards available from $10 up.
Pay with Rewards at Walmart.com
Seamlessly apply rewards to lower the cost of Walmart.com purchases at checkout.
Donate Rewards to Charity
Convert your Walmart Rewards points into cash donations to worthy causes.
Do Walmart Rewards Ever Expire?
No, as long as your account stays open and in good standing, your earned Walmart Rewards points will never expire. You can let your balance continue to grow for as long as you want.
In Q3 2022, the total outstanding rewards liabilities for the Capital One Walmart cards was $613 million – that reflects a massive amount of unused rewards waiting to be tapped by cardholders!
Get the Most from Your Walmart Credit Card
Here are some expert tips to maximize your card benefits:
Focus spending on the 5% and 2% bonus categories to turbocharge rewards earnings.
Pay your bill in full each month to avoid interest charges.
Add authorized users like family to earn rewards faster.
Set up autopay for convenience and on-time payments.
Enable paperless statements and account alerts to monitor activity.
Leverage perks like return protection, extended warranty and no foreign transaction fees.
Redeem strategically to use points before they expire and avoid account closure.
Track bonuses to take advantage of special limited-time offers.
Get Rewards Wherever You Shop with Walmart Mastercard
The Capital One Walmart Rewards Mastercard has the unique advantage of earning 2% back on dining and travel among its rewards categories.
This makes it a versatile card that can rack up points on purchases both at Walmart and restaurants or on vacation. For example, you could earn:
- 5% back on $200 in Walmart.com groceries = 1,000 points
- 2% back on $75 restaurant dinner = 150 points
- 2% back on $300 airline tickets = 600 points
That‘s a total of 1,750 points (worth $17.50) from purchases made in a typical month.
The Mastercard version is ideal if you want flexible rewards beyond just Walmart shopping.
Redeeming Walmart Rewards in 2023
Hopefully this guide has helped explain how to maximize and use your Walmart credit card rewards points in 2023. Here‘s a quick recap:
- Earn 5% and 2% back on Walmart purchases with your card
- Points are worth 1ยข each and never expire
- Redeem rewards for statement credits, direct deposit, gift cards and more
- Focus on bonus categories and perks to get the most value
Check your rewards balance and start planning your redemption strategy today!
