Walmart offers 2 credit cards, both of which offer you the possibility of instant approval and the ability to use the card for purchases today once approved. In fact, you’ll get 10% off your purchases with the Walmart credit card if you are approved and use it today. (The discount maximum is a $25 discount on $250 in purchases.)
Instant approval is only part of the equation, though, as the Walmart credit card offers ongoing rewards based on your purchases:
- You get a 3% rebate on Walmart.com purchases with your card.
- You get 2% off purchases of gas at Walmart and at Murphy USA stations.
- You get 1% on all other purchases with your card.
One other feature: if you sign up for electronic statements instead of getting a paper bill each month, you will get access to your FICO credit score online for free. This is a nice way to keep track of your credit history.
As mentioned above, there are 2 Walmart credit cards, but you don’t really get a choice in which one you get. When you apply, you will first be considered for the Walmart MasterCard, which can be used at Walmart and anywhere else MasterCard is accepted. If you don’t qualify for the MasterCard, you will then be considered for the Walmart credit card that is only accepted at Walmart and Sam’s Club.
The interest rate on your Walmart credit card will also depend on your credit history. You could be approved at a rate of 17.40% or 20.40% or 23.40%. None of these is exactly a low rate, so you’d be wise to pay off your complete balance each month.
Both credit cards are issued by Walmart’s financing partner, Synchrony Bank. You can get more information on the cards and apply online here.