Review: Walmart World Mastercard

For many Canadians, Walmart is where they regularly shop for groceries and other everyday goods. Not only are the low prices attractive, but many Walmart stores are widely accessible for a large majority of the population in Canada.

Savvy shoppers should always look for a credit card that suits their purchasing habits and one that earns at the highest rate possible on purchases where they do the majority of their organic spending. For Walmart shoppers, enter the Walmart Rewards World Mastercard; this card comes with no annual fee, and it allows you to earn cash back on all of your purchases.

In this review, we’ll take a closer look at some of the key features of the Walmart World Mastercard to decide if it has a place in your wallet.

Walmart World Mastercard Overview

The Walmart World Mastercard is a credit card that’s issued by Walmart Canada Bank. It comes with no annual fees, and it offers a decent rewards rate on all purchases with an accelerated earn rate on purchases at Walmart stores. Even better, there are no yearly limits to the total amount of cash back you can earn.

If you’re a regular shopper at Walmart, and particularly Walmart.ca, this card could be a great way to earn some extra cash back on your purchases. However, there are a few things you should know before you apply:

• The annual household income required for this card is $100,000.
• This card does not typically ever have a strong welcome bonus so I wouldn’t hold out for a better sign-up bonus
  • Currently, it offers $15 Walmart Rewards dollars after making two qualifying purchases and an additional $10 after signing up for paperless statements

What are Walmart Reward Dollars?

The Walmart Rewards World Mastercard is tied to a rewards program called Walmart Rewards. With this program, you can earn cash back, or Walmart Reward Dollars, on all of your purchases. You’ll earn a certain percentage back based on the type of purchase you make and in addition to depending on the retailer you make the purchase at.

All purchases made on the Walmart Mastercard earn Walmart Rewards Dollars which can be redeemed at physical Walmart locations and at Walmart.ca to reduce the cost of future purchases. The minimum redemption amount is $5, and redemptions can be made in increments of $5.

One Walmart Reward dollar is worth one Canadian dollar.

Walmart World Mastercard Benefits

One of the great things about the Walmart Rewards World Mastercard is that it offers a few insurance perks that can save you money. First, there’s a free extended warranty plan. This means that if you purchase an item with your Walmart World Mastercard and it comes with a manufacturer’s warranty of 24 months or less, the warranty will be extended by an additional 12 months.

The Walmart Rewards World Mastercard also offers purchase assurance. This means that if you purchase an item with your card and it’s damaged or stolen within 90 days of the purchase date, you’ll be reimbursed for the cost of the item, up to $500 per claim and $50,000 per account.

For a credit card with no annual fee, both of these insurance benefits add some significant value to this card.

Who is the Walmart Rewards World Mastercard Best For?

The Walmart Rewards World Mastercard is a good choice for anyone who shops at Walmart often and wants to earn cash back on all of their purchases. Many credit cards do not code Walmart stores as grocery, so this card may be of use if you do all of your regular grocery shopping at Walmart.

The 3% cash back in the form of reward dollars is great for those who often shop online at Walmart.ca since that is an easy 3% return on all spending.

Of course, the most value that can be extracted from this credit card requires that you are someone who frequently shops at a Walmart store in Canada since that is where you will earn the most rewards.

However, even if you don’t shop at Walmart often, this card can still be a good option since it offers a flat rewards rate of 1% cash back on all of your purchases made everywhere else that doesn’t fall into the defined spending categories. The only thing to remember is that you can only redeem your earned rewards at Walmart, which is limiting compared to other cards on the market.

Comparable Credit Cards

While the Walmart Mastercard might be a good option if you are shopping solely at Walmart, there are better options if you are looking for a credit card that rewards grocery purchases.

Scotiabank Gold American Express Card

Apply Now Learn More Earn $75 in FlyerFunds upon approval.

Scotiabank Gold American Express Card

The Scotiabank Gold American Express card earns Scene+ Rewards points and gives cardholders the opportunity to earn 5x Scene+ points on grocery, restaurant, and entertainment purchases. This card charges no foreign exchange fees.

Check out our Scotiabank Gold American Express card review for more details.

BONUS
40,000 Scene+

MINSPEND
$7,500

NET VALUE
$280+

ANNUAL FEE
$120

FOREX FEES
No

EXPIRY
Jul 1, 2024

The Scotiabank Gold American Express Card earns five points per dollar spent on groceries and at restaurants. This card also earns three points per dollar spent on gas, transit, and select streaming services. All other purchases will earn you one point per dollar spent.

You can earn additional cash back by signing up for this card through the FlyerFunds Rebate program.

American Express Cobalt Card

Apply Now Learn More

American Express Cobalt Card

The American Express Cobalt card earns Membership Rewards points and gives cardholders the opportunity to earn 5x Membership Rewards on eligible restaurant, food delivery, and grocery store purchases. In 2024, we selected this card to receive the award Best Credit Card for Grocery Purchases.

Check out our American Express Cobalt card review for more details.

BONUS
15,000 Membership Rewards

MINSPEND
$9,000

NET VALUE
$174+

ANNUAL FEE
$156

FOREX FEES
Yes

EXPIRY
–

The American Express Cobalt Card earns five points per dollar spent on groceries and dining, three points per dollar spent on streaming services, two points per dollar spent on gas, transit, and travel, and one point per dollar spent on all other purchases.

Conclusion

To sum up our World Mastercard review, the Walmart Rewards World Mastercard is an ok credit card that offers average cash back rates, considering it has no annual fee. 

For those who find themselves often visiting a Walmart store, these locations do not tend to code as grocery purchases. As a result, this credit card may be the best option only if you find yourself frequently shopping at Walmart and want to maximize the return on your Walmart purchases.

For any other grocery purchases, there are several stronger credit card options available with other financial institutions in Canada. Take a look at our credit card comparison tool to find the one that is best for your wallet.

Frequently Asked Questions