Is the Walmart Credit Card Good for Building Credit? (2024)

FAQs

Is the Walmart Credit Card Good for Building Credit? ›

Yes, a Walmart credit card does build credit, as long as you manage the account responsibly. Both the Capital One Walmart Rewards® Mastercard® and the Walmart® Store Card report your account information to all three major credit bureaus each month, and making on-time payments will improve your score.

Ultimately, whether a credit card helps you build credit relies mostly on your own behavior, but the Walmart Credit Card is a card that can help you get to good or even excellent credit if you use it wisely. For more options, check out WalletHub's picks for the best credit cards to build credit.

You need a credit score of 640 or higher (fair credit or better) to get a Walmart credit card. Your income, existing debt load, recent credit inquiries, employment status, and housing status will also impact your chances.

It is not hard to get a Walmart Credit Card. You only need fair credit to qualify for a Walmart Credit Card, so you should have a good chance of getting approved as long as your credit score is 640 or higher, you have a steady income, and you're both a U.S. resident and 18+ years old.

The minimum credit limit attached to a Capital One Walmart card is $300. That said, your actual limit will be determined at the time of approval according to relevant factors like your credit score, current debt-to-income ratio and annual income.

While it's nice that the Walmart MoneyCard offers cash back on Walmart purchases, you can only earn a maximum of $75 cash back per year. Interest on savings is capped. The 2% savings interest rate only applies to your balance up to $1,000. Still has some fees.

The best credit card for building credit is the Discover it® Secured Credit Card because you won't have to pay an annual fee, it has good rewards and it reports to the major credit bureaus monthly.

The Discover it^® Secured Credit Card is our top pick for easiest credit card to get because it's geared toward those with limited / poor credit. It offers great rewards and charges a $0 annual fee.

Apply online.

You can apply for a Walmart Credit Card online and get instantly approved. In that case, you may get a temporary card number that you can use to make purchases right away.

What is the difference between a Walmart card and a Walmart credit card? ›

One of the major ways they differ is in the bonus categories for rewards and where the cards can be used. The Walmart Mastercard can be used anywhere that Mastercard is accepted, while the Walmart Credit Card can only be used at Walmart stores, Walmart.com, Sam's Club, and Murphy USA gas stations.

Your Walmart Credit Card application could have been denied as this card is no longer available to new applicants. Most commonly, applications get denied because of a low credit score, insufficient income, or too much debt.

This means that the Capital One Walmart Rewards® Mastercard®* likely requires at least good credit, which FICO typically defines as a credit score of 670 and above.

Yes, a Walmart credit card does build credit, as long as you manage the account responsibly.

To be approved for a Walmart credit card, you typically need a credit score in the fair to good range, which generally falls within the 580 to 740+ range. However, it's important to note that the specific credit score requirements may vary depending on the type of Walmart credit card you're applying for.

You can use the Capital One Walmart Rewards Mastercard wherever Mastercard is accepted. You can use the Capital One Walmart Rewards Mastercard wherever Mastercard is accepted.

Yes, the Walmart Credit Card reports to the credit bureaus every month, within days after the cardholder's billing period closes. Capital One reports the card's credit limit, account balance, and payment history to all three of the major credit bureaus: Experian, TransUnion, and Equifax.

Just like a credit card, store cards can help you build your credit history. However, you have to make timely payments of at least the minimum balance, plus keep your credit utilization below 30% to positively impact your history.

The credit limit for the Walmart® Store Card starts at $300, and the exact limit you're assigned depends on your overall creditworthiness. As a rule of thumb, the higher your credit score is and the more disposable income you have, the higher your starting credit limit on the Walmart Store Card is likely to be.