With a background in personal finance, she especially loves advocating for women’s financial empowerment. Having visited over 50 countries, she is also passionate about travel, and encouraging and inspiring others to explore the world. Capital One is discontinuing the Walmart credit cards by shutting down new applications and transitioning existing cardholders to the Capital One Quicksilver Cash Rewards Credit Card. There is no word on when exactly this will happen, but new Quicksilver credit cards will be sent out as a replacement on a rolling basis. Additional information will be provided in the coming months to Walmart credit card holders.
Credit Card Reward Programs
Ariana Arghandewal is a travel rewards expert and founder of Pointchaser.com, an award-winning blog. She has over a decade of experience writing about personal finance and travel rewards. She is passionate about helping people leverage credit cards to achieve their travel goals. Her work has appeared in numerous publications, including Bankrate, Business Insider, CNN Underscored, Forbes Advisor and Lonely Planet. Walmart has ended a partnership with Capital One that made the banking company the exclusive issuer of Walmart’s consumer credit cards.
Suite of Product Offerings
The ending of Capital One’s partnership with Walmart was announced in May, but this is the first we’ve heard regarding the fate of these two cards. Before teaming with Capital One, Walmart partnered with Synchrony Financial for 20 years to issue its co-branded credit cards. The retailer sued Synchrony in 2018 in part over the issuer’s underwriting processes. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. Our partners cannot pay us to guarantee favorable reviews of their products or services.
Products
You effectively earn up to 2% cash back on all spending through responsible credit usage. Existing cardholders of both cards will be transitioned to the Capital One Quicksilver Cash Rewards Credit Card — even if they already have that card. According to Capital One’s website, eligible cardholders will receive their new card on a rolling basis starting in September and continuing throughout early 2025. Walmart cardholders will be able to continue using their Walmart credit cards until further notice. Meanwhile, both of Capital One’s Walmart card offerings — the Capital One Walmart Rewards Mastercard, as well as the “closed-loop” Walmart Rewards Card that was usable only with the retailer — have been discontinued.
Walmart initiated the split from Capital One, citing dissatisfaction with Capital One’s customer service. If you decide you want a change, you can read more about all of our favorite Capital One offerings here. If you’ve got either of these Walmart cards, you can check out what you’re getting with your forthcoming Quicksilver card here.
Award vs. cash calculator
Bank Shopper Cash Rewards Visa, you’ll earn 6% cash back (on up to $1,500 in spending per quarter) on a retailer of your choice from a list that includes Walmart. You’ll also earn 3% back (on up to $1,500 in spending per quarter) on a second choice category that includes wholesale clubs, gas stations, bills and utilities. All other purchases earn 1.5% cash back.If you like the idea of flat-rate rewards but a higher earning rate than the Quicksilver card, the Citi Double Cash® Card is an excellent alternative. It earns 1% cash back on all purchases when you buy and another 1% back when you pay it off.
Capital One has shut down applications for the Capital One® Walmart Rewards™ Mastercard®, as well as for the “closed-loop” Walmart Rewards Card that was usable only with the retailer. Existing cardholders will be transitioned to the Capital One Quicksilver Cash Rewards Credit Card, even if they already have that card. We believe everyone should be able to make financial decisions with confidence.
Applicants can text to apply from anywhere and then complete their application on their personal mobile devices. Once applicants are approved and their identity is verified, they will receive immediate access to their card. If new cardholders sign up for Walmart Pay or already have an account, they can easily load their card into the Walmart app for use in-store and on Walmart.com – there is no need to wait for the card to arrive in the mail. Capital One and Walmart approached this credit card program with a digital-first mindset to give customers the tools they need to manage their card from the palms of their hands. The program brings a variety of innovative features that reimagine how customers interact with their credit card. Capital One and Walmart are officially launching a digital-first suite of credit cards that will deliver rich rewards to customers who shop both inside and outside of Walmart.
Claire is a senior editor at Newsweek focused on credit cards, loans and banking. Her top priority is providing unbiased, in-depth personal finance content to ensure readers are well-equipped with knowledge when making financial decisions. While Capital One and Walmart have ended their card partnership, nothing changes today for cardholders – cardholders can continue to earn and redeem rewards, and previously accrued rewards will retain their value. Until informed otherwise, cardholders can also continue to use their Capital One Walmart Rewards® Card wherever Mastercard is accepted and the Walmart Rewards® Card for purchases at Walmart. The Capital One Walmart Rewards Mastercard is a digital-first card that rewards cardholders for shopping at Walmart and everywhere else their card is accepted. Capital One Walmart Rewards Mastercard cardholders will be able to redeem rewards for travel, gift cards, during online checkout at Walmart.com, for recent purchases, and statement credits.
Capital One is sending out new Quicksilver credit cards to replace Walmart credit cards. Since your Walmart credit card is merely transitioning to a Quicksilver Mastercard, your account age won’t change. This is good news because length of credit history makes up about 15% of your FICO Score. Your credit won’t be negatively impacted like it would be if this credit card was closed and a new one opened in its place. When you activate your new Quicksilver card, be sure to update any automatic bill payments connected to your old account. The last thing you want is to accrue late penalties on bill payments after your Walmart credit card deactivates.
Capital One has confirmed that Walmart credit cardholders will keep the full value of their rewards after switching to the Quicksilver card. This isn’t surprising since the Walmart credit cards earned cash back rewards. Those cash back rewards will simply transfer to your new Quicksilver credit card account. Meghan Hunter, a seasoned credit cards writer and editor, shares insights on credit card rewards programs and miles and points.
Frequent Walmart shoppers should check out our list of the best credit cards for Walmart to determine if there’s another card that’s a better fit. Impact on your credit may vary, as credit scores are independently determined by credit bureaus based on a number of factors including the financial decisions you make with other financial services organizations. In addition to the Capital One Walmart Rewards Mastercard, Walmart and Capital One are offering the Walmart Rewards Card. The moves come in light of a rocky history between the two co-brand partners, which started when Walmart sued Capital One in 2023 over issues of slow card replacement and payment processing issues.
The issuer says customers will retain any rewards they’ve earned with the Walmart card. Applications for the Savor have been closed, but current cardholders will keep their cards for now. Meanwhile, the Walmart card has been discontinued altogether and existing cardholders are being transitioned to the Capital One Quicksilver Cash Rewards Credit Card. Your Capital One Walmart card will convert to a Quicksilver card even if you already have one. Capital One allows customers to have more than one Capital One credit card account. Yes, you can still use your Capital One Walmart credit card until your new card arrives.
- Your Capital One Walmart card will convert to a Quicksilver card even if you already have one.
- Bentonville, Arkansas-based Walmart partnered with Capital One in 2019 after ending its previous credit card deal with Synchrony Financial.
- The lawsuit also said Capital One “admitted” it had failed to meet some of Walmart’s service standards.
- Any remaining balance on those Walmart credit cards will be transferred to the Capital One Quicksilver Cash Rewards Credit Card, which has a $0 annual fee and earns an unlimited 1.5% cash back on all purchases.
Walmart and Capital One have announced the end of their partnership, which made Capital One the exclusive issuer of Walmart’s consumer credit cards. The partnership became strained after Walmart accused Capital One of customer service shortcomings, including delays in updating cardholder accounts and replacing lost cards. When you choose to apply (and are approved) for a new credit card through our site, we may receive compensation from our partners, and this may impact how or where these products appear.
These card offerings are just the beginning of our relationship with Walmart. Our companies are committed to building an enduring and successful program in the coming years. We look forward to launching this suite of product offerings and plan to continue evolving the card program going forward in ways that further add value to our customers’ lives.
The information for the Walmart Rewards has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer. The information for the Capital One Walmart Rewards and Savor Cash Rewards has been collected independently by The Points Guy. Whether you want to pay less interest or earn more rewards, the right card’s out there.
Walmart has ended a partnership with Capital One that made the banking company the exclusive issuer of Walmart’s consumer credit cards. Any remaining balance on those Walmart credit cards will be transferred to the Capital One Quicksilver Cash Rewards Credit Card, which has a $0 annual fee and earns an unlimited 1.5% cash back on all purchases. It also earns 5% cash back on hotels and rental cars booked through Capital One Travel. Rewards may be redeemed in any amount for a statement credit, check or gift cards. However, Walmart cardholders who are moved to the Quicksilver card are ineligible to receive its sign-up bonus. The companies said card-holders can still use their Capital One Walmart Rewards cards, which will continue to accrue rewards unless customers are notified of a change.