Back in blue economic invincibility, we're going to talk about the Walmart credit card today, this is not the MasterCard in case you're wondering, but it is a nice flagship program that gives you pretty decent returns.
If you use it online Walmart.com, this baby will generate 3% back, you can get 2% at Morphy's USA or Walmart gas stations, and then also 1% they say everywhere else, but that's mainly going to be in Walmart stores, and all of that will come to you as statement credit in addition to current specials.
You have a 15% discount if you make a purchase
You have a 15% discount if you make a purchase the same day you open your account, that can be up to $50, and then if you use Walmart pay your first purchase, you will get a $10 card, so it's not a horrible welcoming package, the downside.
Of course, is that the 3% of Walmart, it doesn't apply in stores and that is the biggest weak part of this card. If you ask me from a financial perspective, no annual fee which is solid but you do have APR, 23 point one five percent on purchases, the reason it's that high is because this card is associated with people with bad credit or trying to repair it, but they do give you the option to do that with a financing program, and I'll mention that shortly.
There's also the Walmart quick cash, which is basically a way at Walmart registered specifically, you can get cash advance without being charged fees, that's a nice program, but there are specific stipulations that will go along with it, and of course it's limited to Walmart cash registers in terms of the financing, you can get six months zero interest financing on purchases up to 2.98 and some change, and then twelve months same thing on purchases $2.99 and up, there are of course certain exclusions that apply, but this is a nice program.
If you don't have great credit or you want to start building it up again
If you don't have great credit or you want to start building it up again, you can do that, you can see your progress, but you don't get hit like you would with a loan with the interest rate. So if you pay in time you're not going to be charged interest, that's a nice thing to have, and coupled with the fact that they do give you the FICO credit score for free. If you sign up with the online statements, you can see your progress, so that's a nice feature to have with this card in terms of other benefits.
There is the three to one saving program which can give you access to some other deals fortunately overall. What Walmart currently offers is not particularly stupendous in terms of discounts, because of course they operate on a pretty low-profit margin, so you shouldn't expect to be getting tremendous discounts.
And there are other cards that overall with a rewards rate, or the cashback percentage are probably going to set you ahead of this particular card, that being said if you do like shopping a Walmart, a lot specifically Walmart come, it's not a bad thing to have or if you just want to take it on for the purposes of building up your credit with the zero interest financing. That's something that you need to keep in mind.
Other features I should quickly mention
Other features I should quickly mention, they don't hold you responsible if the card stolen which is pretty much, every company nowadays and they have the special chip which is supposedly going to protect you. I don't believe that I think that's propagandizing tool, that was introduced after Target and Home Depot were hacked.
I don't think Walmart was hacked, but just understand that's not foolproof, but at least they're going to take responsibility if someone steals your information or your identity, and then Walmart customer service never good.
There's a lot of negative reviews for that reason, you really have to break it down to what are your particular needs. Are you looking to build a credit? Do you shop at Walmart a lot? if you do this card will certainly be worth considering, otherwise, there are definitely better options out there.
Any questions please drop them below and let me know other cards you want to see reviewed in the future.
Other web page resource
Walmart MoneyCard | Prepaid Cards | Prepaid Debit Cards: https://www.walmartmoneycard.com/