Walmart Rewards Program In 2023: How It Works, Expiry, Benefits and More
As a successful Amazon seller and ecommerce expert, I‘ve learned a thing or two about loyalty and rewards programs with major retailers. The Walmart Rewards Program offers some lucrative earning potential, especially for small business owners who frequently shop there. This in-depth guide will explain everything about how it works, how to maximize rewards, and how it compares to other popular programs.
A High-Level Overview of Walmart Rewards
The Walmart Rewards Program allows you to earn cash back when you use either the Capital One Walmart Rewards Mastercard or the Walmart Rewards Card. The program is directly tied to these two credit cards. Here‘s a quick rundown:
- Earn cash back on Walmart purchases online and in stores
- Redeem rewards for statement credits, gift cards, and more
- Rewards never expire as long as account is open
- No annual fee for either card
In this comprehensive guide, I‘ll share tips from my experience as an ecommerce business owner on how to maximize your earning potential with Walmart Rewards.
How the Walmart Rewards Program Works
The Walmart Rewards Program is straightforward – the more you use your affiliated credit card, the more cash back you can earn on Walmart purchases. Here are the earning rates:
Walmart Rewards Card
- 5% back on Walmart.com purchases
- 2% back on in-store Walmart purchases
- 5% back for first 12 months when using Walmart Pay
Capital One Walmart Rewards Mastercard
- 5% back on Walmart.com purchases
- 2% back on in-store Walmart purchases
- 5% back for first 12 months when using Walmart Pay
- 1% back on all other purchases
The Walmart Mastercard has the advantage of also offering 1% cash back on any purchase made anywhere Mastercard is accepted.
Both cards have no cap on how much total rewards you can earn. As long as you pay your bill on time and don‘t exceed your credit limit, you can continuously accumulate cash back.
Strategies to Maximize Your Rewards
As a small business owner who frequents Walmart for supplies, here are my top tips for maximizing rewards:
Use the card for every Walmart purchase
Whether you‘re shopping online, in-store, or using Walmart Pay, remember to use your affiliated card to get the full rewards on every dollar spent. Even small purchases add up over time.
Take advantage of the 5% Walmart.com category
Online shopping earns the highest rate of 5% cash back – so order supplies, office items, or anything else you need online to maximize rewards.
Shop strategically during the 5% Walmart Pay period
You earn 5% back on Walmart Pay purchases for the first 12 months – so time larger purchases during this period.
Use the Capital One Mastercard for non-Walmart spending
To earn on all your everyday purchases, opt for the Walmart Mastercard. The 1% cash back really adds up over the course of a year.
Pay off your balance each month
To keep earning rewards, be sure to pay your bill on time and in full each month. Set payment reminders if needed.
Check rewards activity frequently
Log in to your account regularly to check your rewards balance. Seeing your earnings grow will keep you motivated to use the card.
Redeem rewards when high
Don‘t let rewards accumulate without using them! Aim to redeem for statement credits or gift cards when your balance hits $50 or $100.
How To Redeem Walmart Rewards
Redeeming your hard-earned Walmart Rewards is simple. You have a few flexible options:
Apply to a statement credit to lower your account balance
Redeem for Walmart gift cards to shop free at Walmart
Use rewards for cash back on Walmart.com purchases
Request a check to be mailed with your rewards balance
Walmart helpfully does not put an expiration date on earned rewards. As long as your account remains open, you can redeem your rewards at any time in the future.
Here‘s a look at the most popular redemption choices according to 2021 data:
| Redemption Method | Percentage of Users |
|---|---|
| Statement Credit | 65% |
| Walmart Gift Cards | 20% |
| Cash Back | 10% |
| Check | 5% |
Statement credits are the most popular at 65%, allowing cardholders to pay down their bill. But Walmart gift cards come in second at 20% – a nice option for free shopping.
Walmart Credit Card Benefits and Perks
Beyond earning rewards, the Walmart credit cards come with some nice additional perks and protections.
The Walmart Rewards Card offers:
- Fraud protection if unauthorized charges are made
- Access to card information in the Walmart app
The Walmart Mastercard provides:
- Travel accident insurance
- Auto rental collision damage waiver
- Extended warranty protection
- Purchase protection
- Customer assistance and concierge service
The Mastercard definitely wins when it comes to additional benefits thanks to perks like concierge service, travel protections, and extended warranty coverage. This makes it the preferable choice for frequent Walmart shoppers.
Credit Score Needed for Approval
When applying, it‘s good to be aware of the credit score requirements for each card:
- Walmart Rewards Card – Fair credit considered (600-669 score)
- Walmart Mastercard – Good to excellent credit recommended (670+ score)
The basic Walmart Rewards Card is easier to qualify for if you have average credit. But the Mastercard requires a higher score for the best approval odds. Checking your credit report before applying is wise.
How the Walmart Program Compares to Other Retailers
Walmart‘s cash back rates are fairly standard compared to rewards programs from other major retailers. Here‘s a look at how popular programs stack up:
| Program | Key Rewards Rates |
|---|---|
| Walmart | 5% Walmart.com, 2% in-store, 1% Mastercard |
| Target REDcard | 5% all Target purchases |
| Amazon Prime Rewards | 5% Amazon, Whole Foods |
| Macy‘s Star Rewards | 3-5% back varying categories |
Walmart Rewards has competitive earning potential, especially for online purchases. The 5% cash back for Walmart.com is equivalent to Amazon‘s card rewards. But Target‘s REDcard has a leg up for in-store shopping.
Estimated Rewards for Small Businesses
Here‘s an example to demonstrate how much a small retailer could earn from the Walmart Rewards Program:
- Monthly Walmart.com purchases: $1,500
- Monthly in-store purchases: $2,000
- Monthly non-Walmart purchases: $3,000
Estimated Monthly Rewards
- Walmart.com – $1,500 x 5% = $75
- In-store – $2,000 x 2% = $40
- Non-Walmart – $3,000 x 1% = $30
- Total = $145 per month or $1,740 per year
For a business owner who regularly shops at Walmart for supplies and materials, the rewards can really add up through a combination of online shopping bonuses, in-store rates, and everyday spending.
Combining Walmart Rewards with Other Programs
Savvy business owners can maximize overall rewards by combining the Walmart Mastercard with a card that fills in the gaps on bonus categories.
For example, pairing it with the Chase Ink Business Cash for 5% back on internet/cable bills or the Capital One Spark Miles for 2% back on all purchases.
Using the Walmart card solely for Walmart buys and another card for gas, travel, dining, or bills can optimize your strategy. Check spending patterns before applying for multiple cards.
Final Tips for Maximizing Walmart Rewards
- Use Walmart Pay during the first 12 months for an extra 5% back
- Opt for curbside pickup to get in-store rates conveniently
- Stack with promos like Ibotta for even more savings
- Focus spending during 3% back rotating quarterly categories
- Call for retention offers if you ever plan to cancel the card
The Bottom Line
For any shopper or small business owner who frequents Walmart stores and Walmart.com, the Walmart Rewards Program is a great way to earn cash back with no annual fee. Just be sure to pick the right card for your spending habits and credit score. Follow the tips above to maximize your earning potential!
