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What's a WalmartCreditCard?
WalmartCreditCard is just as it sounds – it's Walmart's own credit card!
Walmart has a credit card?
Walmart actually has two cards. There's the WalmartCreditCard, which is a store card for use in Walmart, and there's also the WalmartCreditCard MasterCard, which can be used wherever MasterCard is accepted.
The WalmartCreditCard MasterCard at a glance
The Walmart MasterCard credit card is issued by Synchrony Bank and boasts no annual fee and a free monthly FICO score with electronic statements.
You earn 1% cashback on all purchases, which translates to a $5 statement credit back for every $500 you spend, as well as a 5c per gallon gas discount at participating Walmart gas stations.
The APR for the Walmart MasterCard is an above-average 22.9% variable for purchases and quick cash advances. You can bypass the high interest by paying off your balance in full by each due date.
If you're accepted for a Walmart credit card by December 31st, 2014, you'll get $25 statement credit after spending $75. It's nothing to write home about when comparing to the benefits of other cards (for example, the US Airways Premier World MasterCard credit card gives you 50,000 miles with no minimum spend, which is a better option by far), but if you shop at Walmart often, then any credit is, of course, a bonus.
If you make a second $75 purchase within 60 days of account opening, then you earn another $10 statement credit.
Is the WalmartCreditCard a good choice?
If you're a frequent Walmart shopper and you pay off your balance in full every month, then the WalmartCreditCard MasterCard is an OK option, but there are certainly better options out there, with regards to travel benefits especially. Plus the store card credit card is only beneficial to Walmart shoppers.