Walmart Rewards World Mastercard Review

If you regularly shop at Walmart, you’ll want to read my Walmart Rewards World Mastercard Review. It’s Walmart’s co-branded credit card, and it has a decent earn rate, especially if you shop regularly online at Walmart.ca.

Admittedly, the card doesn’t have many extra benefits, but this is a no annual fee card, so it’s not fair to compare it to premium credit cards. It’s best to look at it for what it is. It’s a credit card designed for people who want to use their rewards to get discounts at Walmart. Read my Walmart Rewards World Mastercard Review for more details

Walmart Rewards World Mastercard

If you’ve ever shopped at Walmart, the odds are you’ve been prompted to sign up for the Walmart Rewards World Mastercard when checking out. While most people will ignore these offers, the card is actually pretty decent.

Until Feb. 28, 2023, the sign up offer is worth up to $45 in Walmart Rewards dollars. You’ll get a $20 statement credit when you spend $50 or more on the same day of approval. Since you’re issued a temporary shopping pass when approved, that’s what you would use to make your purchase.

You’ll also get $15 in Walmart Rewards dollars after any purchase at Walmart and one anywhere else. Another $10 in Rewards is given when you sign up for paperless statements. While a $45 welcome offer may not seem very generous, it’s higher than a lot of other cards that have no annual fee.

As for the earn rate, it’s respectable but obviously favours Walmart. You’ll get 3% back in Walmart Rewards Dollars at Walmart.ca, 1.25% at Walmart stores and gas stations, and 1% back everywhere else. 

I personally have been using Walmart.ca more often because I’m getting tired of the other giant online retailer. The 3% I get back in Walmart Rewards dollars is more than I would get back from any of the best cash back credit cards in Canada. 

This card also doubles the manufacturer’s warranty, up to an additional year, on any items purchased with this card. In addition, your purchases are protected from loss, theft, and damage for 90 days. Boingo Wi-Fi for Mastercard is also a standard benefit for cardholders.

Since the Walmart Rewards World Mastercard has no annual fee, getting the card is a no-brainer if you regularly shop at Walmart. That said, since this is a World Mastercard, there is a personal income requirement of $80,000 or a household income of $150,000 to qualify for this card.

How Walmart Reward Dollars work

Now it’s time to go over how Walmart Reward Dollars work in this Walmart Rewards World Mastercard review. Walmart Reward Dollars are like cash back. Once you’ve accumulated at least $5, you can redeem your Reward Dollars in Walmart stores in Canada and online at Walmart.ca

When shopping online at Walmart.ca, you’ll be prompted to “Redeem Walmart Reward Dollars” at checkout. If you choose to do so, you’ll be able to get a discount on your purchases. As mentioned, the minimum redemption is $5, and it goes in $5 increments. So you can redeem $5, $10, $15, etc.

Your Walmart Rewards Dollars can be applied to anything sold on Walmart.ca. This includes Marketplace items and groceries. This is highly appealing to many people since your rewards can be redeemed for so many different things.

For those shopping in Walmart stores, you would just tell the cashier that you want to redeem some of your Walmart Rewards Dollars.

You can check your rewards balance, along with your transaction history,  any time at walmartrewardsmc.ca.

How the Walmart Rewards World Mastercard compares

It’s best to compare the Walmart Rewards World Mastercard to other store credit cards and no annual fee cash back credit cards.

The most comparable card is the Amazon.ca Rewards Mastercard. That card earns you 2.5% back at Amazon.ca, Whole Foods Market in Canada and foreign currency transactions. All other purchases earn you 1%. While there’s no denying that’s a respectable rate of return, there’s a catch. You only get this increased earn rate if you’re an Amazon Prime member. If you’re not a Prime member, you only earn 1.5% back per dollar spent at Amazon.ca, Whole Foods Market, and physical amazon stores (no forex earn).

Another credit card to consider is the Tangerine World Mastercard. This no annual fee card allows you to choose up to three categories where you’ll earn 2% cash back. All other purchases earn you 0.5% cash back. The obvious appeal here is that you get to choose the merchant categories that give you an increased earn rate. However, all other purchases earn you a lower earn rate compared to the Walmart card.

Final thoughts

My Walmart Rewards World Mastercard is positive. Even though it doesn’t come with many additional benefits, it gives a good earn rate at Walmart stores and online at Walmart.ca. If you’re worried about the minimum income requirement, there is a lower-tier card available in the Walmart Rewards Mastercard.