Have you ever wished that you could walk into a Walmart store, pick up an item off of one of their shelves and take it home with you for free? With the Walmart Rewards Mastercard at your side, that fantasy might be closer than you think. You’ll have to go through the cash-out process as usual and make sure you have enough reward dollars at your disposal to cover the purchase, but this card will allow you to get quality Walmart merchandise at no cost to you.
Get Reward Dollars For All Your Shopping, Plus Extra When You Shop At Walmart
The Walmart Rewards Mastercard is a free credit card that is set up with a simple rewards structure. This is technically a cash back credit card, but it does not award currency that you can use without any restrictions. Instead, it offers Walmart reward dollars that can only be spent at Walmart stores. Using this card gets you 1% in reward dollars back on any purchase you make, and if you want to do even better, you can shop for the things you need at Walmart and get 1.25% back instead.
These rates aren’t astronomical, but they are perfectly adequate in comparison to what many cards like this provide. Many holders will find that they can get most of their shopping done at Walmart stores and earn that bonus rate on almost everything they buy, but even those who don’t make a point of going there so frequently can end up with a respectable sum of reward dollars to spend each month. Those credits never expire, though, so you’re free to hold off on using them and save them up for the time being if you’d rather make a large purchase.
Don’t Fret, It’s Easy To Get
Some people will be sold on the idea of the Walmart Rewards Mastercard already and will be wondering how hard it will be to get one for themselves. You’ll be glad to hear that it shouldn’t be any trouble at all. This is a card with low requirements that is meant to be accessible to nearly anyone who wants to try it out. It’s actually specifically designed to appeal to people for whom having a little extra to spend at Walmart will make a big difference, and that usually means people of lower income and with less impressive credit scores. These individuals might not find their applications so easily accepted by all credit card providers, but this card is an option for them to be able to use some form of credit and start to build their credit scores up a bit.
The fact that this card is so accommodating to applicants who don’t usually have the easiest time finding a lender who will work with them makes it an excellent card for a credit newbie. If someone without an established credit history reaches out to Walmart about this card, they will more than likely be successful at getting on their first try, lessening the chances that they will become discouraged by the strain of having to ask provider after provider for a card to use. This is still the case if the new person has a low income from a part-time job or something similar, as young people often do. While the Walmart Rewards Mastercard isn’t necessarily a card you want to keep around for life, it’s a great stepping stone toward something better that you’ll be able to get some use out of and enjoy in the interim too.
Use it Right At the Checkout Counter
Most credit card rewards that function like cash back force you to buy something with your own money first and then apply the rewards to it after the fact. With the Walmart Rewards Mastercard, you don’t have to wait. You can cash in on your rewards right away by taking out your card and activating the reward redemption option on it when you pay. As long as you have a reward balance of at least $5 or more, you can use those funds to pay for your purchases right at the point of sale. This is the most convenient way to do things from the consumer’s perspective and will save you a lot of hassle going through your statements later and making sure everything was processed correctly; if something went wrong with your rewards transaction, you’ll know it right away.
This method also makes it much easier for you to use your reward dollars on the spur of the moment rather than relegating them to something that can only be accessed if you sit down specifically to do so. Because of this, many people will find themselves more likely to actually use their rewards over time rather than letting them build up as they forget about them. You’ll enjoy the cash back bonuses a lot more if you are able to make them a regular part of your life in this way rather than just letting them fade out of your consciousness. This immediacy makes it much easier for most to understand the value that the Walmart Rewards Mastercard adds to their lives and to appreciate it for how well it fulfills that function.
Reduce Risk By Applying for the Credit Directly
There’s another aspect of this point-of-sale system that benefits you, too: you can enjoy less risk to your finances when using your rewards. While many cards will allow you to use their cash back rewards on any purchase you want after the fact, doing this still leaves some room for error. What if you forget to cash in your rewards before the next billing cycle comes around and you end up paying interest on a charge that you would not have made if you hadn’t expected it to be free?
This is something to be particularly concerned about when you’re shopping close to when you would usually expect to receive your next credit card statement since this will only give you a few days inside the grace period before you’re expected to pay up. Once the charge makes it on to your statement, you’re on the clock to make sure your reward redemption goes through before your payment is due. With instant redemption options like the Walmart Rewards Mastercard has, though, the charge is never made in the first place. The reward dollars are exchanged for the purchased item directly and there is nothing more to be done to complete the transaction. Not only does that mean less hassle, but it also means that there is no chance of paying extra to use your rewards at any time.
Is the Best Store Card Available?
It’s clear from the name of the Walmart Rewards Mastercard that it is what credit providers refer to as a store card – a credit card that is attached to a particular retailer rather than a true financial institution. These types of cards are common enough and are typically very easy to get, as we’ve pointed out that this one is. They also typically give out rewards that are restricted to being used on purchases within their own stores, which is another thing that this card does exactly as you’d expect. The second part is why most store cards are considered largely undesirable and a last resort for the desperate at best.
However, that condition is not nearly as significant a restriction for Walmart as it is for other retailers. While you would normally have to be concerned about how often you would be able to get to the stores where your rewards are valid and whether or not you would even want to buy something there, cashing in Walmart reward dollars is easy for almost everyone. Since their product selection is so vast and they have so many locations set up all over the country, neither distance nor personal will is any real problem in the vast majority of cases. That’s one of the major reasons why this card is looked upon more favourably than most other store cards out there. While most of them are thought of as a tool to help you start to build up your credit history and not much else, this one is appealing in its own right and far preferable to most others like it for that reason.
Enjoy Incredible Reward Utility
We’ve gone over the fact that you can purchase just about anything you want, but in case you’re short of ideas at the moment, here are some that you can use to wrap your head around how useful the Walmart Rewards Mastercard could be in your life. If you’re creative enough, its uses are almost infinite in their possibilities.
- Groceries – Everyone needs to eat, no exceptions. Eating good, healthy food that tastes great can get very expensive, though, and prices are rising higher and higher every year. By buying your groceries at Walmart and using your rewards to subsidize part of your bill, you might be able to serve your family significantly better meals with less expense than you might expect.
- Toiletries – It’s no fun to have to factor things like soap, shaving cream, toothpaste and mouthwash into your monthly budget, but you need them all the same. Instead of spending your hard-earned money on them, you can use your rewards to purchase them and essentially make them free for you to use. Ladies can also do this with their makeup to save big!
- Emergency purchases – Say your friend’s car breaks down and you have to go quickly purchase some jumper cables before you drive out to help them. You don’t have time to shop around for a great price, but you can use your Walmart rewards for that while also benefitting from Walmart’s everyday low prices. That should help you neutralize the cost of these unexpected expenses.
- Gifts – It’s hard to account for gifts in a budget, but we all have occasions where we want to give some. If you save up your rewards and use them to purchase whatever you’d like to give when the time comes, you won’t have to worry about where the money will come from to do this. You’ll have your pick of items when you do this, too, since Walmart sells just about everything from toys to electronics.
- Your child’s allowance – As children get older, they start to crave independence. One of the ways to give them some is to provide them with an allowance to spend so they can make some of their own decisions as consumers. If you don’t have the money in your regular budget to spare for this kind of thing, you can always give your child access to your reward dollars and allow them to spend those instead. Chances are Walmart sells the kinds of things they want, and doing this makes them happy while not putting any financial strain on you.
- Small indulgences – Who doesn’t enjoy a treat every once in a while? Whether your goodie of choice is chocolate, a DVD, or a new graphic tee, a frivolous purchase every so often can help you to keep going by giving you the chance to put yourself first for once. When you use your rewards to pay for these things, you don’t have to have any guilt about doing so because the funds do not come out of your regular budget. You can treat yourself and make your life a little more fun at basically no cost to you.
Should You Add the Walmart Rewards Mastercard to Your Collection?
If you’re going to be using another card for most of your routine purchases or you don’t often shop at Walmart, you probably won’t be able to rack up enough reward dollars to make the Walmart Rewards Mastercard worth your time. It’s best for those who will be using it as their primary card, especially those who have never had a credit card at all before and aren’t sure how successful their first round of applications will be. Your chances here will be better than most and you’ll get a great all-purpose store card for your efforts.