Thrifty Tony

This is Why Every Walmart Shopper Needs a Capital One Rewards Card

Walmart Capital One credit card

If you shop at Walmart and you don’t have the Capital One Walmart Rewards Card, then you’re missing out on a ton of perks including 5% cash back and 100% free cell phone protection.

In this blog post, we will be looking at the numerous benefits of the Capital One Walmart Rewards Card.

1. Unmatched 5% Cash Back

As I mentioned, a huge benefit of the Capital One Walmart Rewards Card is the 5% cash back on grocery pickup, delivery, and at

Since I opened my card in July 2020, I earned over $200 in rewards in less than 8 month’s time.

Walmart rewards cash back example
My credit card statement showing my cash back from using the Walmart rewards card.

You can either use your rewards to cover your purchases which comes directly off of your statement, or you can use your rewards to redeem for cold hard cash and have a physical check sent to your house.

2. Free Cell Phone Protection Insurance

Another huge perk of the Capital One Walmart Rewards Card is the free cell phone protection insurance.

As of January 1, 2021, Walmart added this perk to the rewards card which provides coverage in case your cell phone is stolen or damaged.

UPDATE 2022: Cell phone protection insurance from the Walmart Rewards Card is no longer available.

As long as you pay your wireless cell phone bill with your Capital One Walmart Rewards Card, all phone numbers on your plan are covered by this insurance.

Now while I personally don’t take advantage of this benefit with Walmart, I’m quite familiar with it because the REI Mastercard has an identical benefit, and in the past, I’ve been reimbursed for claims totaling over $700 to damages to phones on my family plan, simply by paying my cell phone bill with that particular credit card.

3. No Annual Fee

The 0% annual fee is another attractive aspect of the Capital One Walmart Rewards Card.

Unlike some credit cards with annual fees upwards of $500 in some cases, you pay nothing for the Walmart Rewards Card.

While there are other fees for late payments, transfers, and of course the interest rate, as long as you don’t carry a balance and pay your card on time, this card is effectively free.

4. More Cash Back on All Purchases

The Capital One Walmart Rewards Card also earns you cash back on non-Walmart purchases.

To be clear here, you get:

  • 5% cash back on grocery pickup, delivery, and at
  • 2% cash back in Walmart stores, at restaurants and on travel
  • 1% cash back on all other purchases where mastercard is accepted

This is paired with an introductory offer where you can actually earn 5% cash back on Walmart in-store purchases as well for the first year after you open the card when you pay with Walmart Pay.

In case you’re not familiar, Walmart Pay is a touchless feature in the Walmart App that allows you to scan a barcode at checkout which automatically charges your linked credit card.

Just like most other credit cards nowadays, there are the standard benefits like:

  • the ability to enroll in autopay
  • automatic credit line increases
  • free credit score tracking through CreditWise

So if you don’t already have it, go ahead and apply for the Capital One Walmart Rewards Card and start taking advantage of that sweet 5% cash back and so much more.

Thrifty Tony

Thrifty Tony

Tony approaches most things in life with a budget-conscious mindset while at the same time maximizing investments which results in an ideal balance between spending and saving. And of course he enjoys free things and bonuses every now and then.