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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 {{card.name}} has earned a {{ranking}} DollarWise Rating out of 5. This score is based on a weighted average of the two highest scoring factors (excluding acceptance and approval).

The highest scoring categories for the {{card.name}} are {{score_1}} and {{score_2}}.

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 {{card.name}} the most important factors for scoring this card are its {{score_1}} and {{score_2}}.

Rewards

With the {{card.name}}, here's the rates at which you earn rewards for different spending categories per dollar you spend:

Calculating your annual rewards

We estimate that spending {{monthlyspend}} per month with the {{card.name}} would earn {{card.rewards}} 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:

Our study investigating the value found that each dollar spent on the {{card.name}} is worth up to {{card.max_reward}}, depending on how you redeem.

This {{card.rewards}} in rewards value puts the {{card.name}} in the {{decile.annual_rewards}} of credit cards in Canada based on rewards earned.

The average credit card in our database earns {{averages.mean_annual_rewards}} in rewards for the same spend that the {{card.name}} earns {{card.rewards}} 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.

For an annual spend of {{annualspend}}, we estimated annual rewards value at up to {{total_net_rewards}}.

That's equivalent to a {{total_earn_rate}} return on spending.

The {{card.name}} has an annual fee of {{card.annualFee}}. After deducting this, we predicted net annual rewards of {{net_after_fee}}.

This puts it in the {{decile.net_annual_rewards}} of credit cards for net rewards after fees.

In comparison, the average card earns net annual rewards of {{averages.mean_net_annual_rewards}}.

Fees

The {{card.name}} has a {{card.annualFee}} annual fee.

The average card charges {{averages.mean_annual_fee}}. So, the {{card.name}} is in the {{decile.annual_fee}} of cards based on the cost of the annual fee.

Perks

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

The {{card.name}} scored a {{factor_score_perks}} out of 5 for perks, putting it in the {{decile.factor_score_perks}} of cards.

The average card scores {{averages.mean_factor_score_perks}} out of 5 for perks.

Interest Rates

The average (median) credit card has a purchase interest rate of {{averages.median_purchase_interest_rate}} and so the {{card.name}} charges {{purchase_interest_diff}} than the average.

For cash advances it costs {{cash_advance_interest_rate}}% compared to the average of {{averages.mean_cash_advance_interest_rate}}.

Testing the {{card.name}} with a $2,000 starting balance, you can see in the graph how the {{purchase_interest_diff}} in interest rates impacts the interest over a year, compared to the average card.

Insurance coverage

We scored it {{factor_score_insurance}} out of 5 for insurance.

It offers {{insurance_count}} types of insurance, whereas the average card has {{averages.insurance_count}} types of coverage.

Approval and qualifying

We scored it {{factor_score_approval}} out of 5 for approval.

We predict that you will require a credit score of at least {{credit_score_low}} to qualify for the {{card.name}}, while the average card requires {{averages.mean_credit_score_low}} to qualify.

This puts it in the top {{decile.credit_score_low}} of cards by approval difficulty.

The personal income requirements are {{personal_income}}, while the average card requires {{averages.mean_personal_income}}.

This puts it in the {{decile.personal_income}} of cards by the income required to qualify.

The Walmart Rewards World MasterCard is a popular choice for Canadians seeking to maximize their rewards earning potential. In this review, we will assess the card’s earning potential, four key benefits, two drawbacks, and additional pertinent information to aid in your decision-making process.

Earning potential with the card

The Walmart Rewards World MasterCard earns points, known as Walmart Rewards, which are redeemable at Walmart locations and online.

The card offers 3% cash back on Walmart.ca purchases, 1.25% cash back on purchases at Walmart stores, and 1% cash back on all other purchases. However, there are no specific reward rates for categories like dining, travel, or groceries.

Benefits

1. No Annual Fee: One major advantage of the Walmart Rewards World MasterCard is that it has no annual fee, which allows users to earn rewards without any associated annual cost.





2. Balance Protection Plan: Cardholders have the option to enroll in a balance protection plan that covers the monthly minimum payment in case of job loss, disability, or other life events. This benefit provides financial support and peace of mind during difficult times.





3. Extended Warranty and Purchase Protection: This card also offers extended warranty and purchase protection on eligible items, which could save cardholders money and offer reassurance when making significant purchases.





4. Worldwide Acceptance: As part of the MasterCard network, the Walmart Rewards World MasterCard enjoys worldwide acceptance and usage possibilities, allowing cardholders to earn rewards on their everyday spending both at home and abroad.

Drawbacks

1. Limited Reward Redemption Options: One significant drawback of this card is the limited reward redemption options. Walmart Rewards can only be redeemed at Walmart locations or on Walmart.ca, which may not appeal to those who prefer cash back or statement credit redemptions.





2. Lack of Category-Specific Reward Rates: Another drawback to the Walmart Rewards World MasterCard is the lack of category-specific reward rates. Many other credit cards on the Canadian market offer higher rewards rates for categories such as dining, travel, or groceries, providing tailored value to different spending habits.

Additional information

The Walmart Rewards World MasterCard also provides cardholders with access to exclusive experiences, events, and promotions through the MasterCard Priceless Cities program. While this enhancement may be attractive to some users, it may not outweigh the benefits of cards with more diverse reward options and higher rewards rates for specific spending categories.

In summary, the Walmart Rewards World MasterCard is well-suited for individuals who frequently shop at Walmart and highly value the offered in-store rewards. However, potential cardholders seeking more diverse rewards and redemption options or tailored rewards for specific spending categories may be better served by other cards on the Canadian market.

Is the Walmart Rewards World MasterCard not convincing you? Consider the KOHO Easy Mastercard or the Simplii Financial Cash Back Visa. Still not the right credit card? Make sure not to miss the Mogo Visa Platinum Prepaid Card.

FAQ

Key benefits

• MasterCard brand





• Interest rate: 19.89% (purchases)





• Cash advances: 21.49% interest rate





• Annual fee: $0





• Grace period: 21 days





• Minimum credit limit: $500





• Balance protection insurance: optional





• Fraud protection: MasterCard Zero Liability





• Online and mobile account access





• Paperless billing options





• Walmart Rewards program enrollment





• Cash back limits: no maximum





• Reward redemption method: statement credit





• Foreign transaction fee: 2.5%