WALMART has ended its relationship with Capital One, which was the exclusive provider of its store credit card.
Current cardholders will still be able to use their cards and accrue rewards.
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Walmart and Capital One have announced the end of their credit card partnership.
Customers can no longer apply for the Capital One Walmart Rewards Card.
Walmart is aiming to introduce a replacement credit card no later than January 2025 but has not yet announced the new bank it will use to provide the card.
Potential partners could include major credit card companies Discover, MasterCard, and American Express.
A spokesperson previously told The U.S. Sun: “We look forward to bringing our customers a new credit card option that provides meaningful benefits and rewards soon.”
Meanwhile, current Capital One Walmart Rewards cardholders can continue to use their cards and access the cashback savings.
The Capital One Walmart Rewards Card is a cashback card that offers up to 5% back on Walmart purchases.
BREAKING UP
Walmart sued Capital One in April 2023 to prematurely end its agreement with the lender.
Walmart claimed that the bank had not fulfilled its customer service obligations.
These included issuing replacement cards to customers within five days, and promptly posting payment and transaction information to customers’ accounts.
In March, a judge ruled in favor of Walmart.
The Capital One Walmart Rewards Card was popular among shoppers, with a total of $8.5 billion in existing loans in the Walmart credit card portfolio.
Walmart’s partnership with the lender began in 2019 after it ended its previous credit card deal with Synchrony Financial.
Walmart Capital One Rewards perks
The Walmart Capital One Rewards credit card gives cardholders a number of cashback benefits:
Customers earn five percent cashback on Walmart.com, including pickup and delivery.
At Walmart stores and fuel stations, at restaurants, and on travel, cardholders earn two percent cashback.
For everything else, the cashback rate is one percent.
OTHER WAYS TO SAVE
Fortunately, shoppers don’t need a Walmart credit card to save at the store.
Customers can use third-party apps like Ibotta to score rebates just for uploading their receipts.
Meanwhile, the Walmart app showcases many of the best deals and rollbacks currently on offer.
Shoppers can also scan barcodes in-store using the app to discover prices that are lower than advertised on the shelf.
See one Walmart employee’s recommendations for tapping into a “goldmine” of savings.
Or discover if a Walmart+ membership would be worth it for you.
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