The market continues to get flooded with new credit cards. One of the latest to be announced is the Walmart Rewards World Mastercard. The card is being released just as the original Walmart Rewards Mastercard celebrates its 10th anniversary in Canada. The new card will open up for applications in September and offers some increased earn rates and benefits over the basic version of the card.
We don’t know yet what the welcome bonus will be. Seeing that the basic card offers $25 we would have to assume it will be at least that if not more. Also being a World version it will most likely have higher income requirements ($60,000 individual, $100,000 household) to qualify for the card.
Update: The card will have the same $25 welcome bonus as the base card
Here is what Walmart has provided to us so far for what this card will offer in terms of earning Walmart Rewards Dollars:
- 3% of your spend on Walmart.ca
- 1.25% in Walmart stores
- 1% everywhere else Mastercard is accepted
- 1.25% on gas
Walmart Rewards Dollars work just like cash so 1 Walmart Reward dollar equates to $1 you can spend at Walmart.
We also that since this is a World Mastercard it will get the benefits that are afforded to all World Mastercards and those are:
- Free global Boingo Wi-Fi (including flights on WestJet and other airlines)
- Credits for using Ritual and other everyday digital offers
- Mastercard Airport Experiences provided by LoungeKey
- Car Rental Insurance
- Purchase Protection
- Extended Warranty
At this time we don’t know yet if there will be any additional benefits or insurance added to the card as well.
In general this card will appeal primarily to the more affluent Walmart shopper, especially those making those Walmart purchases online. Outside of that there are other no fee card options out there that may be better suited for most as this card limits you to strictly redeeming at Walmart. That being said this card earns no less than 1% cash back which is pretty good considering other no annual fee cards like Tangerine, BMO et al only earn a 0.5% base rate. Some food for thought….