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[Walmart] Walmart Rewards MasterCard: 1% Cash Back on All Purchases, 1.25% on Walmart Purchases

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  • Jan 4th, 2020 1:37 pm
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Deal Addict
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Aug 12, 2010
1111 posts
832 upvotes
Southern Ontario
Brrrrrrrrrrrrr. Astute RFDer's are already all over the alternatives.
Deal Addict
Jan 6, 2008
1459 posts
1329 upvotes
Ontario
I am waiting to see if they are going to change the rewards once Target is more saturated in the country.

Don't think it will happen but will take the wait and see approach.
Newbie
Sep 23, 2011
1 posts
SCARBOROUGH
Agree, I have Walmart Card first, and then I got that MBNA Smart Cash card and Capital One Black card with 1.5% cash back as you said, those two are the best choices ! ^_^
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Jul 15, 2003
3292 posts
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Ontario, Canada
I did the math on this for another thread back when the MBNA was 3% back on your first $600. Now i think it's 2% back on your first $400.

Back when it was 3%, if you spent more than $675/month on gas/groceries the scotiabank momentum visa got you more money back. And that means at that point it was already returning $99 more than the MBNA to cover the annual fee.

As crimsona said, with the MBNA card now having much less of a return, if you spend more than $410/month on gas/groceries the scotia card has already paid back it's annual fee and is getting you more money back than the free card.

If you can qualify for the scotia card it sounds like the best deal for a lot of people. $400 runs out really fast when feeding/driving a family around.

p.s. I'm actually a bit pissed off at MBNA about this. I signed up with MBNA and capital one because using those two cards together could get you a better return than the scotiabank up until you were spending over $1000/month. But that required using both cards at the apprpriate places and workign the Capital one system to get the full 2% cash back on travel through their tierd system. With MBNA slashing their rewards it would have been FAR easier and now even better returns just to stick with the Scotiabank as the one and only card for our situation.
Member
Oct 15, 2009
428 posts
157 upvotes
Kevinck gotta agree with you. Applied for the SC and the Aspire Travel in the fall to do just that. 2 weeks after applying MBNA hacked the rewards. Not very impressed with that. Just finished my 6 month 5% promo so I'll probably be switching to the Momentum. People that laugh at the fee on the card just need to do about 5 min of math to see if it works for them. Even with paying $130 (will be getting a 2nd card for the gf) a year we will still come out way ahead. Our monthly spending at gas stations alone is $350 ish.
Jr. Member
Jan 30, 2013
185 posts
73 upvotes
Ya the thing is, nobody spends any large amount of money at Walmart, its comparable to a dollar store so 1% back would be like 2 cents, what a deal!
Deal Fanatic
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Aug 29, 2012
6449 posts
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Strange that this card is not offered in Quebec, I wonder why that is. I will apply for it before I leave Ontario.

I suppose it has to do with some law about opening "bank" accounts in person (since this is from a sort of bank set up by Wal-Mart Canada). But then again although PC Financial doesn't offer its debit accounts in Quebec, they freely offer their Mastercard to Quebecois without requiring anyone to apply in person. It does say that although only people outside of Quebec can apply, the rewards can be redeemed at any Canadian Wal-Mart (similarly to how any CIBC ATM can be used with the PC Financial debit card, even in my small QC hometown, I've tested it).

Ultimately I'm sure it's due to some arcane law. I do wonder what exactly that is, because other retailers solicitate their customers to subscribe to their credit card. Maybe there's a law against credit solicitation at the cash register?

There's no other reason why it wouldn't be offered after three years of existence, since Wal-Mart is well established in Quebec as well, it's not like with Loblaws where their presence is so-so.

To me, this card works. No gimmicks, a tangible reward without tiers or caps, it looks good to me. You always need something that Wal-Mart stocks anyway. Capital One offers more but I don't think I'm willing to deal with them at the moment due to their shady reputation. Sure there's no extended warranty (of course no retailer except Costco is going to offer an extended warranty on their housebrand credit card!), but I never used it in my life and I don't care. I think it's just a trap to make credit cards more alluring.
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Aug 29, 2012
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Soon after posting this they called me, they just wanted me to confirm my details and told me I'd be insta-approved.

This looks like pretty much the most lenient credit card company in Canada, the rep really sounded like it was a formality. They also only ask for $12000 of yearly family revenue. But then again, I guess that's how retailer cards (Canadian Tire, Sears, Future Shop, etc.) are like, as in they're practically given away with the most cursory check possible (so the uneducated consumer loads up the card and is hit with high interest rates).
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Dec 7, 2009
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TheBrownGuy wrote: Ya the thing is, nobody spends any large amount of money at Walmart, its comparable to a dollar store so 1% back would be like 2 cents, what a deal!
Buddy, I wish! We have a Walmart with grocery within walking distance and according to mint the wife blew $11,000 there in the last year.... :facepalm:


I didn't know supercenters are classified as grocery... is a supercenter any Walmart with a grocery section? If so I'll get a second scotia infinite card for the wife ASAP!! :cheesygri As for this walmart card, get the no fee capital one for 1.5% back anywhere NO LIMITS either.
Newbie
Nov 11, 2006
22 posts
2 upvotes
Thornhill
MBNA does classify certain Walmart locations as "grocery" purchases, so the 2% is correct at this time. I don't know how Scotia VISA classifies purchases, and I would simply assume that the terms stated are what a prospective cardholder can expect: 4% for a bag of chips from Walmart, but only 1% for a TV purchased from that same Walmart. I also recall mention of a cap with respect to the Scotia card benefits so again, do your research.

Capital One Aspire Cash Rewards card is currently the best option given the no annual fee, the substantial cardholder benefits aside from the cash-back, and also, of course, the 1.5% cashback on all purchases. If an annual fee is implemented, or if the rewards were to shrivel up then the Capital One card might not be such a good card but one should count those chickens when they hatch: The MBNA decision to slice and limit their rewards, have, in my mind, destroyed their credibility going forwards and I would suggest that one cancel their MBNA cashback card once one has earned the 5,000 points needed to redeem a $50 check. This nonsense of 5,000 points is another red flag for any credit card or rewards program: firms with these schemes are not necessarily interested in nurturing customer relationships. Capital One, on the other hand, shows tremendous integrity in this arena: cash rewards can be requested at any time, for any amount, and without charge.

Amazon.ca VISA card is appropriate for purchases made in USD or other non-CAD currencies. The approximate 2.5% savings on the f/x fees can be noteworthy. In addition, the rewards of 1% credit at amazon.ca are not terrible, and I would rather save 2.5% on a transaction versus receiving a 1.5% cash reward. The 2% amazon.ca credit for purchases made at amazon.ca is also a good feature of this card. Inclusion of amazon.com would be nice, but it is unlikely to happen given the jurisdictional/territorial policies in play.

The WMT card is not attractive since the benefits are paltry, and the rewards this card provides are mediocre in all circumstances. Similarly, the BBY VISA card appears to be noteworthy in its stinginess. The BBY VISA provides the cardholder with points, which are worth 1.25% credit at BBY. Purchases made at BBY using the BBY VISA double these rewards, although ANYONE, who is enrolled in the BBY Rewards scheme, making a purchase at BBY receives 1.25% store credit simply for making that purchase (in addition to any other rewards received depending on method of payment).

Finally, gas and groceries are premium reward items because (1) everyone purchases gas and/or groceries from time to time, which means that people are more inclined to apply for such cards since they can readily visualize using and benefiting from such a card AND (2) almost everyone spends relatively little on gas and groceries (non-discretionary expenses) in relation to total consumer spending, and the gas/groceries purchases are predictable when aggregated over a large number of people. This is contrasted by say, restaurant and entertainment purchases which, in the aggregate, can vary sharply depending on, for example, general economic conditions. In 2008, gas and grocery purchases were probably similar, on average, to the gas and grocery purchases in 2013. People have to eat and they have to get to where they are going. On the other hand, people can forgo a night on the town or a new home theater, and this is likely one way 2008 (when the economy and markets fell of a cliff) is different from 2013 (S&P up over 15% already YTD with a LOT of easy credit just itching to be spent).
Deal Fanatic
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Mar 3, 2002
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redcrake wrote:
Capital One Aspire Cash Rewards card is currently the best option given the no annual fee
These MBNA 2% cash back on everything, no-tier, no limit, credit cards are the best no-annual fee cash back credit cards (weighted purely on cash back) in Canada, but they are not easy to obtain:

1. MBNA Rewards World Elite Mastercard (the only differences between these two MBNA cards are that the World Elite version adds price protection and concierge service).

2. MBNA Rewards Travel Platinum Plus Mastercard

The Capital One Aspire Cash World Mastercard has better (travel related) insurance options and faster redemption on 1% cash back, but Capital One cardholders must wait an entire year before receiving the 0.5% anniversary bonus. With the two aforementioned MBNA cards, once you accumulate $50 in cash back, that amount can be either applied directly to your credit card account or issued to you as a cheque. You do not need to wait an entire year to receive the full cash back amount that's been earned. Money now > Money later.

And the two MBNA cards I linked to are 2% cash back cards (vs. 1.5% cash back from Capital One Aspire Cash World Mastercard).
Sr. Member
Dec 2, 2003
537 posts
73 upvotes
I'm surprised nobody mentioned the Aspire World Travel card. Not as hard to get as the MBNA World Elite, but the net annual fee you pay is $20 (they give you 10,000 points every year, which equates to $100 in travel credit). Plus it's a 35,000 points ($350) welcome offer.

http://www.capitalone.ca/credit-cards/a ... vel-world/

Straight 2% "travel points" across the board. Definitely a good card if you travel a lot or like to travel
Newbie
Nov 11, 2006
22 posts
2 upvotes
Thornhill
Webslinger wrote: These MBNA 2% cash back on everything, no-tier, no limit, credit cards are the best no-annual fee cash back credit cards (weighted purely on cash back) in Canada, but they are not easy to obtain:
Thanks for the tip, but I don't know that these cards exist any longer. No sign on the mbna website, nor on the MasterCard.ca website. I'll call up customer service at some point, though, and provide an update. I agree that the 50% anniversary bonus is risky and not guaranteed (eg. if the card is cancelled then any unpaid bonus is null and void). If the 2% MBNA is unlimited then it is probably worth a look, given that you claim it is a World Mastercard, with no annual fee. On the other hand, MBNA burned a ton of goodwill and credibility when it gutted its Rewards card. Is there any reason to think that mbna won't pull another bait and switch?
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Feb 23, 2004
2671 posts
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Calgary
For the Walmart card it says it have to be mailed in via Canada post. is there an online version? thanks
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Deal Expert
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Dec 11, 2005
19192 posts
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Godfather83 wrote: The Walmart rewards MasterCard has been there for more than 2 years now. It's a very good card for all your purchases.
I don't know what you are smoking but this card is HORRIBLE. Anyone who thinks this card is good needs to spend more time in the Personal Finance forum. There are many many no-fee cards better than this one.
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings

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