Today, Walmart launched their new
- Intro offer: 5% back at Walmart in-store when using Walmart Pay during the first 12 months.
- 5% back on purchases at Walmart.com and Walmart app (includes Walmart Grocery Pickup and Delivery).
- 2% back on Walmart purchases in stores after the introductory offer.
- 2% back on restaurants and travel.
- 1% back on all other purchases.
- No foreign transaction fee.
- No annual fee.
You can redeem your rewards during online checkout at Walmart.com, for recent purchases, and statement credits. (Gift cards and travel are listed as options too, but why would you choose that over cash unless they offer some sort of bonus?)
The only long-lasting benefit is the 5% back at Walmart.com and Walmart app (includes Walmart Grocery Pickup and Delivery). If you spent $1,000 a year at Walmart.com, then that’ll get you $50 in cashback. I might spend that much at Walmart in-store over a year, but definitely not Walmart.com at this time. If they released Walmart’s in-store sales volume compared to their online sales, I think you’d see a large disparity.
I was disappointed to see that 5% back in-store only works (1) if you remember to set up and use their Walmart iOS or Andriod app and (2) it only lasts for the first 12 months. After a year, it’s back down to only 2% back on Walmart purchases which really isn’t very appealing with multiple
Why is Walmart so stingy with the cash back? Perhaps Walmart’s profit margins are too slim to match
Bottom line. Walmart has a new co-branded credit card. The only long-lasting benefit is the 5% back at Walmart.com and Walmart app (includes Walmart Grocery Pickup and Delivery). It’s not very good any place outside of Walmart, and not even especially good at Walmart stores after the first year. If Walmart.com steps up their game to include better delivery options, perhaps it will be worth a second look.
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