Walmart Rewards Mastercard Review



Annual Fee


Annual Rewards


Intro Offer


Annual fee


Annual rewards


Intro offer


  • No annual fee
  • Easily earned rewards at Walmart stores
  • Flat rewards rate on other purchases
  • Rewards never expire
  • User-friendly mobile app


  • Limited redemption options
  • Low rewards rate compared to other cash back cards
  • Limited availability (Canada only)
  • Potentially high-interest rate for late payments
  • No travel or multi-tiered rewards

Performance test results

At DollarWise, for each credit card we test 7 different factors including the rewards, value for money, perks, insurance, strengths and weaknesses of the card.

You can see our full testing methodology here to learn why we’re the most trusted source for credit card reviews.

The Walmart Rewards Mastercard has earned a 4.25 DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).




Interest rates




The highest scoring categories for the Walmart Rewards Mastercard are fees and interest.

These factors are weighted 70% to the highest scoring factor and 30% to the second highest score to get an overall review score.

This weighting allows us to judge cards on their merits and the customers they are designed for.

For the Walmart Rewards Mastercard the most important factors for scoring this card are its fees and interest.


With the Walmart Rewards Mastercard, here’s the rates at which you earn rewards for different spending categories per dollar you spend:

Specific Stores1%
All Other Spend1%

Calculating your annual rewards

We estimate that spending $2,000 per month with the Walmart Rewards Mastercard would earn $240 in rewards over the year.

Our performance testing research uses an accurate estimation of the average Canadian households spending patterns to predict the rewards a card will earn.

We found that you’d earn this per category:

Specific Stores$12
All Other Spend$228

Our study investigating the value found that each dollar spent on the Walmart Rewards Mastercard is worth up to $0.01, depending on how you redeem.

This $240 in rewards value puts the Walmart Rewards Mastercard in the bottom 40% of credit cards in Canada based on rewards earned.

The average credit card in our database earns $337 in rewards for the same spend that the Walmart Rewards Mastercard earns $240 in rewards value.

We can compare this card to other options by looking at the earn rate by category.

This earn rate is the percentage return that you would get when you spend on this card, assuming you redeem at the predicted maximum value.

For example, if a card earned 5 points per dollar on gas and each point is worth up to $0.02, then the earn rate is 5 points multiplied by $0.02 each, divided by the dollar you spent.

In this example, that’s a 10% earn rate on gas.

SpendThis CardAverage
Above, we’ve calculated the earn rate for the Walmart Rewards Mastercard for every spend category and compared it to the average for all Canadian credit cards.
Redemption methodAnnual rewards

For an annual spend of $24,000, we estimated annual rewards value at up to $240.

That’s equivalent to a 1.00% return on spending.

The Walmart Rewards Mastercard has an annual fee of $0. After deducting this, we predicted net annual rewards of $240.

This puts it in the bottom 50% of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of $254.


The Walmart Rewards Mastercard has a $0 annual fee.

The average card charges $85. So, the Walmart Rewards Mastercard is in the bottom 50% of cards based on the cost of the annual fee.


We manually review the perks of each credit card to determine how they compare to other cards.

The Walmart Rewards Mastercard scored a 1.0 out of 5 for perks, putting it in the bottom 30% of cards.

The average card scores 1.6 out of 5 for perks.

Interest Rates

Cash Advance22.97%
Balance Transfer22.97%

The average (median) credit card has a purchase interest rate of 19.99% and so the Walmart Rewards Mastercard charges 0.099999999999998% less than the average.

For cash advances it costs 22.97% compared to the average of 19.96%.

Testing the Walmart Rewards Mastercard with a $2,000 starting balance, you can see in the graph how the 0.099999999999998% less in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it 0.0 out of 5 for insurance.

It offers 0 types of insurance, whereas the average card has 5 types of coverage.

Approval and qualifying

Do I qualify?
Estimated Credit Score760 – 900
Personal Income$0
Household Income$0
Annual Fee$0
Extra Card Fee$0
Card typeMasterCard

We scored it 2.5 out of 5 for approval.

We predict that you will require a credit score of at least 760 to qualify for the Walmart Rewards Mastercard, while the average card requires 652 to qualify.

This puts it in the top top 10% of cards by approval difficulty.

The personal income requirements are $0, while the average card requires $23,896.

This puts it in the top 50% of cards by the income required to qualify.

The BMO Cashback World Elite MasterCard is a popular cash back BMO credit card in Canada offering rewards and various benefits to cardholders. Its earning potential, benefits, and drawbacks are laid out below.

Earning potential

With the BMO Cashback World Elite MasterCard, cardholders earn 1.5% cash back on all their purchases, with no limits or categories. This consistent cash back rate simplifies earning rewards, allowing users to accumulate cash back at the same rate across dining, travel, grocery, and other spending.


  1. Insurance Coverage: This card offers a comprehensive travel insurance package, including travel medical insurance, trip cancellation/interruption insurance, and car rental collision/loss damage waiver. This coverage provides peace of mind for cardholders while travelling.
  2. Complimentary Roadside Assistance: Cardholders enjoy complimentary membership to the Dominion Automobile Association (DAA), which gives BMO Cashback World Elite MasterCard users access to valuable roadside assistance benefits in case of emergencies on the road.
  3. BMO Concierge Service: As a cardholder, you have access to the BMO Concierge Service. This exclusive service allows you to make travel arrangements, restaurant reservations, and more with just a call to their dedicated phone line, offering convenience and luxury.
  4. Airport Lounge Access: This card gives cardholders exclusive access to MasterCard Airport Experiences provided by LoungeKey, which can help make travelling more enjoyable with access to over 1,000 airport lounges worldwide (fees apply per lounge visit).


  1. Annual Fee: The BMO Cashback World Elite MasterCard has an annual fee of CAD$120, which may be a drawback for users who are budget-conscious or who don’t spend enough to offset this with earned cash back rewards.
  2. Required Income: To be eligible for this card, users must have a minimum personal income of CAD$80,000 (or a minimum household income of CAD$150,000). This requirement can be a significant barrier for individuals who do not meet this income threshold.

Additional information

New cardholders can benefit from a welcome offer of 5% cash back on all purchases (up to CAD$2,500 spending) for the first 3 months. The BMO Cashback World Elite MasterCard also comes with additional purchase protection, such as extended warranty and purchase protection.

This extra layer of security increases its value for consumers who are seeking a reliable and well-rounded cash back credit card.

Interested in other credit cards? Canadians that like the BMO Cashback World Elite MasterCard credit card also like the BMO Rewards MasterCard. If you’re looking for other options you should consider the BMO Eclipse Visa Infinite Card, and the BMO Preferred Rate MasterCard.


The BMO Cashback World Elite MasterCard allows you to redeem your accumulated cashback rewards in multiple ways. Here are your redemption options:

  • Statement Credit: You can redeem your cashback as a credit applied directly to your account balance, reducing your credit card balance owed.
  • InvestorLine Account: You can choose to deposit your cashback into your BMO InvestorLine account if you have one, contributing to your investment growth.
  • Bank Account: Another option is to redeem your cashback rewards as a deposit into a BMO chequing or savings account, allowing you to spend or save the money as you please.
  • Mortgage Payments: If you have a BMO mortgage, you can opt to apply your cashback rewards towards your mortgage payments, contributing to paying off your mortgage more quickly.
  • Travel Bookings: For travel enthusiasts, you can use your cashback to book flights, hotels, or other travel-related expenses through the BMO Rewards Travel Centre.
  • Charitable Donations: If you wish to support a good cause, you can donate your cashback to a registered charity of your choice.

Please note that redemptions can be made at any time with no minimum cashback threshold and no expiration date on the earned rewards. This offers greater flexibility and control over your rewards utilization.

The BMO Cashback World Elite MasterCard credit card does charge foreign transaction fees. Specifically, cardholders can expect a foreign transaction fee of 2.5% on all purchases made outside of Canada or in foreign currencies. This fee applies to both online and in-person transactions that involve currency conversion.

The BMO Cashback World Elite MasterCard credit card has a minimum annual income requirement of $80,000 for individuals or a combined household income of at least $150,000.

Key benefits

  • Earn 5% cashback during your first three months, up to $100 in total rewards
  • 1.5% cashback rate with no caps on everyday purchases
  • Enjoy 4 complimentary Mastercard Airport Experience visits yearly
  • Access to a 24/7 concierge service for personalized assistance
  • Protection with extended warranty and purchase protection benefits
  • AVIS and Budget car rental discounts up to 25%
  • Out-of-Province/Country emergency medical coverage for trips up to 8 days
  • Delayed or lost baggage, personal effects, and trip cancellation/interruption insurance options
  • Worldwide common carrier accident protection and travel emergency medical insurance
  • Roadside support available through a complimentary membership in BMO Roadside Assistance
  • 1.99% APR on balance transfers for 9 months (3% transfer fee), then 22.99% APR applies
  • 19.99% annual interest rate on purchases
  • Expedited security line access at select Canadian airports with Mastercard®*Valet™ airport service

The Walmart Rewards Mastercard is a practical option for Canadians who frequently shop at Walmart and are seeking a store-branded credit card. This review will delve into the card’s earning potential, key benefits, drawbacks, and other relevant information.

Earning potential with the card

The Walmart Rewards Mastercard earns Walmart Reward Dollars. Cardholders can earn 1.25% back on every dollar spent at Walmart and 1% back on every dollar spent everywhere else that accepts Mastercard. The card does not offer specific reward rates for other categories of spending, such as dining or travel.


  1. No Annual Fee: One major advantage of the Walmart Rewards Mastercard is the absence of an annual fee, making it an affordable option for budget-conscious shoppers.
  2. Easy Rewards Redemption: Redeeming Walmart Reward Dollars is a simple process. Cardholders can redeem directly at the register in increments of $5 (starting at $5), making it quick and easy to utilize earned rewards.
  3. Worldwide Acceptance: As a Mastercard, the Walmart Rewards Mastercard is accepted at millions of locations worldwide, offering cardholders access to a vast network of merchants.
  4. Added Security Features: The card comes equipped with multiple layers of security, including zero liability protection and chip & PIN technology, providing greater security and peace of mind.


  1. Limited Earning Potential Outside Walmart: The main drawback of this card is its limited earning potential for purchases made outside of Walmart. Cardholders only earn 1% back on non-Walmart purchases, whereas other cards may offer higher reward rates for certain categories (such as dining or travel).
  2. Minimal Travel Benefits or Insurance: Another drawback of the Walmart Rewards Mastercard is its lack of travel benefits and insurance. Many other credit cards offer perks like travel insurance and rental car insurance, which can be valuable for frequent travelers.

Additional information

In conclusion, the Walmart Rewards Mastercard is best suited for individuals who frequently shop at Walmart and prioritize cost-saving features like no annual fees and easy rewards redemption. However, those who want more comprehensive rewards or travel benefits should consider other options.

Not the right fit? You could consider the KOHO Essential Mastercard. Or, if you’re looking for other options check out the Canadian Tire Cash Advantage Mastercard, and the Brim World MasterCard.


The Walmart Rewards Mastercard allows you to redeem your points for statement credits on your account. These statement credits can be used as a direct discount off of any purchases made using your Walmart Rewards Mastercard.

With a redemption rate of 1 Walmart Reward Dollar being equivalent to 1 Canadian dollar, you have the flexibility to use the statement credits for purchases you choose at Walmart stores, online at, as well as on purchases made at other retailers where Mastercard is accepted.

The Walmart Rewards Mastercard does charge a foreign transaction fee for purchases made outside of Canada or in a foreign currency. The foreign transaction fee is 2.5% on top of the conversion rate of the purchase amount.

This means that if you use the Walmart Rewards Mastercard while traveling abroad or for online shopping in foreign currencies, you will incur an additional 2.5% fee on all transactions in addition to the exchange rate applied.

The Walmart Rewards Mastercard does not have a minimum income requirement for applicants. This means that even without a high income, you may still be eligible for this credit card.

Key benefits

  • Earn 1.25% for every dollar spent at Walmart
  • Earn 1% on all other purchases
  • Easy online account management
  • Fraud protection with Zero Liability Protection
  • Purchase Assurance & Extended Warranty coverage
  • Tap and Go payments with Contactless technology
  • International acceptance by Mastercard network
  • Instant decision when applying online
  • Balance protection available with optional coverage
  • Mobile app available for iOS & Android devices
  • No cap or earning limits on rewards
  • Redeem rewards for Walmart gift cards or statement credits

About The Author