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9 Best Credit Cards for Walmart Shopping (2019)

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Attention Walmart shoppers! Are you earning all the rewards you should for spending your hard-earned dollars at Walmart?

You may be surprised to learn that the best credit cards for Walmart shopping extend beyond the co-branded cards issued by Walmart. Read on to learn who gives you the best deal on your Walmart purchases.

Walmart Card | Cash Back | Travel | Bad Credit | FAQs

Walmart recently introduced a new credit card, the co-branded Capital One® Walmart Rewards™ Card. At first glance, it looks like an attractive offer, but is it the best one for rewards?

Capital One® Walmart Rewards™ CardConsider the introductory reward available to new cardmembers for the first 12 months, in which you earn 5% back, but only when you pay for Walmart store purchases with the Walmart Pay app. After the introductory period expires, you receive 5% back only for online purchases at Walmart.com or in the Walmart mobile app.

Otherwise, you earn 2% back on in-store, travel, and dining purchases, and 1% on all other purchases. You can redeem your rewards to cover a purchase on Walmart.com, apply as a statement credit to reduce your account balance, purchase gift cards at Walmart and other stores, or pay for flights and hotels. The card offers additional benefits, including no annual fee, $0 fraud liability, security alerts, and instant locking if your card is stolen, lost, or misplaced.

The other card offer is the closed-loop Walmart Rewards™ Card, which can only be used at Walmart stores, Walmart.com, and Sam’s Club locations. This card is aimed at consumers with fair credit or worse.

The regular reward rate of only 2% back on in-store purchases prevents us from designating the Capital One® Walmart Rewards™ Card as your best choice for Walmart shopping, which is why we look below at cards we consider superior.

Many consumers like the flexibility of cash back rewards, and those rewards should be as generous as possible. Consumers also like credit cards they can earn maximum rewards at more places than just one store.

For these three reasons, the following three cards offer a lot to like.

CASH BACK RATING

★★★★★

5.0

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 – 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • No minimum to redeem for cash back

0% Intro APR on Purchases 15 months

0% Intro APR on Balance Transfers 15 months

16.49% – 25.24% Variable

$0

Good/Excellent

CASH BACK RATING

★★★★★

4.9

  • INTRO OFFER: Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate.
  • Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Use your rewards at Amazon.com checkout.
  • Get an alert if we find your Social Security number on any of thousands of Dark Web sites.* Activate for free.

0% for 14 months

0% for 14 months

13.49% – 24.49% Variable

$0

Good/Excellent

CASH BACK RATING

★★★★★

4.8

  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening
  • Earn unlimited 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
  • No rotating categories or sign-ups needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn
  • No foreign transaction fees
  • Capital One cardholders get access to premium experiences in dining, entertainment and more
  • $0 intro annual fee for the first year, $95 after that

N/A

N/A

16.24% – 25.24% (Variable)

$0 intro for first year; $95 after that

Excellent, Good

As you can see, you can earn superior cash back rewards with cards that are honored well beyond the confines of Walmart and Walmart.com. Unless you do all your shopping at Walmart, you may prefer the simplicity of using a card that earns comparable or better rewards at more places.

The Capital One® Walmart Rewards™ Card provides 2% rewards for travel and dining purchases. You can match and exceed those rewards with other cards.

If you are a Walmart shopper who wants more travel benefits from a card, check out the following travel cards.

AIR MILES RATING

★★★★★

5.0

  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn 2X miles on every purchase, every day.
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 12 leading travel loyalty programs
  • Miles won’t expire for the life of the account and there’s no limit to how many you can earn
  • Named ‘The Best Travel Card’ by CNBC, 2018

N/A

N/A

17.49% – 24.74% (Variable)

$0 intro for first year; $95 after that

Excellent, Good

AIR MILES RATING

★★★★★

4.9

  • UNLIMITED BONUS: Discover will match ALL the Miles you’ve earned at the end of your first year, automatically. For example, if you earn 35,000 Miles, you get 70,000 Miles. That’s $700 towards travel! The more you earn, the more you get.
  • Earn unlimited 1.5x Miles for every dollar spent on all purchases – with no annual fee.
  • No Blackout Dates. Simply pay for travel purchases like airlines, hotels, rental cars, and more with your Discover it® Miles card.
  • Miles Pay You Back. Easily redeem Miles as a statement credit for travel purchases. Or get cash.
  • Freeze your account in seconds with an on/off switch either on the mobile app or website to prevent new purchases, cash advances, and balance transfers.
  • Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.

0% for 14 months

10.99% for 14 months

13.49% – 24.49% Variable

$0

Good/Excellent

AIR MILES RATING

★★★★★

4.9

  • $0 annual fee and no foreign transaction fees
  • Earn a bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn 1.25X miles on every purchase, every day
  • Travel when you want with no blackout dates and fly any airline, stay at any hotel, anytime
  • Miles won’t expire for the life of the account and there’s no limit to how many you can earn
  • Transfer your miles to over 12 leading travel loyalty programs

0% for 12 months

N/A

13.74% – 23.74% (Variable)

$0

Excellent, Good

With the co-branded Walmart card, you redeem your reward points for travel at the rate of a penny per point, and there is no provision for transferring rewards to affiliated programs. As you can see, the best travel cards in our review provide better options.

The new Walmart Mastercard is unlikely to approve bad credit applicants. Here are three alternatives available to consumers who have bad credit or thin credit histories.

BAD CREDIT RATING

★★★★★

4.7

  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit
  • Make the minimum required security deposit and you’ll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app

N/A

N/A

26.99% (Variable)

$0

Limited, Bad

BAD CREDIT RATING

★★★★★

4.7

  • Easy application! Get a credit decision in seconds.
  • Build your credit history – Fingerhut reports to all 3 major credit bureaus
  • Use your line of credit to shop thousands of items from great brands like Samsung, KitchenAid, and DeWalt
  • Not an access card

N/A

N/A

See Issuers Website

$0

Poor Credit

BAD CREDIT RATING

★★★★★

4.5

  • Prequalify for a card today and it will not impact your credit score
  • Less than perfect credit is okay
  • Mobile account access at any time
  • Protection from fraud if your card is stolen
  • Account history is reported to the three major credit bureaus in the U.S.

  • *Dependent on credit worthiness

N/A

N/A

24.9%

$35 – $99

Bad, Poor Credit

The Walmart Mastercard denies applicants for a number of reasons, including monthly income, past due accounts, charge-offs, and non-discharged bankruptcies. Our recommended alternatives for consumers with bad credit have more lenient acceptance qualifications.

While the Capital One® Walmart Rewards™ Card is not a bad idea, the real question is how it stacks up against the competition. In this regard, the Walmart card may not be your best choice.

Let’s start with rewards. After the introductory period ends, the most you will earn for in-store Walmart purchases is 2%. Our review indicates that other cards offer more generous rewards on an ongoing basis.

Some cards offer 5% or higher rewards for both in-store and online purchases, without forcing you to use a mobile app when shopping at the store. And although Walmart’s 5% introductory rate is good, it lasts only one year and forces you to use the Walmart Pay app. Other cards offer generous rewards without making you use an app.

Walmart Pay Screenshot

You’ll only receive 5% cash back in Walmart stores when you use the Walmart Pay app, and the promotion is only valid for one year.

Then there’s the question of redemptions, especially for travel. The best travel cards offer rewards on flights and on dining, just as the Walmart card does. But some of our reviewed cards let you receive high redemption values and/or transfer your rewards to airline and hotel partners.

If you travel a lot, you’d like your card to offer as many travel-related perks as possible, such as automatic travel, baggage, or rental-car insurance. The Walmart card falls short in these areas.

If you have bad credit, you may have no choice but to seek out one of the other cards we recommend. But as we point out, that’s not necessarily a bad thing in this competitive market.

Walmart stores sell many types of products, including groceries. But if you want the maximum rewards for grocery shopping, you should consider the following cards:

  1. Discover it® Cash Back: This card provides 5% cash back each quarter on purchases up to the quarterly $1,500 limit at rotating merchant types that you activate. One of the merchant types is groceries. All other purchases earn an unlimited 1% cash back. At the end of the first year after opening the account, new cardholders get an unlimited Cashback Match on all cash back earnings. This card has no annual fee.
  2. Blue Cash Preferred® Card from American Express: Provides 6% cash back on annual purchases up to $6,000 from selected merchant types, including grocery stores. This excludes superstores that sell groceries. Remaining purchases earn 1%. The caveat, however, is that this card charges a $95 annual fee.
  3. Target RedCard™: The Target RedCard provides an unlimited 5% savings on Target and Target.com purchases, including groceries. Unlike the Walmart card, it has no 12-month limits. The card charges no annual fee.
  4. Costco Anywhere Visa® Card by Citi: If you prefer Costco to Walmart, this card offers various cash back tiers, including 2% cash back on purchases (including groceries) from Costco and Costco.com. You can use this no-annual-fee card anywhere Visa is accepted.
  5. Bank of America® Cash Rewards: This card offers multiple cash back tiers, including 2% cash back at grocery stores on up to $2,500 in combined quarterly purchases, excluding superstores but including wholesale clubs. This card charges no annual fee.

Before picking a card, our advice is to consider your grocery shopping habits, including where you like to shop and whether you want rewards in other categories besides groceries.

Your Walmart credit card gives you the opportunity to build your credit. Whether you actually achieve a higher score depends on how you use the card.

If you use it responsibly, your credit score can increase because the Walmart card reports your credit activity to the three national credit bureaus — Experian, TransUnion, and Equifax. Your payment history is recorded in the credit report of each credit bureau, and derogatory items can hurt your credit score. These include delinquent accounts, collections, defaults, and bankruptcies.

Here are some tips for using the Walmart card (and any other credit card) to build and maintain a good credit score:

  • Pay your bills on time each and every month, without fail. You will avoid late fees and improve your credit history.
  • Try to keep a low balance on your credit cards and pay them off as soon as possible. This controls your credit utilization ratio, which is your balance divided by your total credit limit. Ideally, you will want to keep the ratio below 30%, preferably below 20%.
  • Don’t close a credit card account even if you no longer use the card. The reason is that 10% of your credit score depends on the average age of your credit accounts. When you close a card, you reduce your average account age and can hurt your score.
  • Elect to receive online electronic statements every month. By doing so, you can also track your current FICO credit score each month.

As we always advise, check your credit history reports at least once a year and dispute any mistakes or omissions. Removing mistakes from your credit reports can immediately boost your credit score.

You can request your three credit reports once a year for free from AnnualCreditReport.com.

Walmart offers two credit cards:

  • Capital One® Walmart Rewards™ Card
  • Walmart Rewards™ Card

If you have average credit or better, you can easily be approved for either card. However, things change if your credit score is bad.

Only the Walmart Rewards™ Card welcomes consumers with bad credit. The Capital One® Walmart Rewards™ Card requires you have a FICO credit score of at least 650, but the Walmart Rewards™ Card is available to consumers with a lower score.

You’ll mostly earn the same rewards as the Mastercard, but the Walmart Rewards™ Card can only be used at Walmart, Walmart.com, Sam’s Club, and Sam’s Club gas stations. Therefore, you won’t earn the 2% on dining and travel or 1% everywhere else the Mastercard is accepted.

Walmart Cards Compared

If you have bad credit, expect a very low initial credit limit. The purchase APR on the Walmart Rewards™ Card equals the highest one on the Mastercard, which features lower APRs for customers who are more creditworthy.

Note that your application for the Capital One card applies to both cards. Even if you are denied the Mastercard, you may be approved for the Walmart Rewards™ Card.

As with many store cards, the Walmart Rewards™ Card is easy to get. It then falls to you to decide whether you want it, as it is useful only for Walmart-related purchases. Neither card charges an annual fee.

Our review shows that you have options when it comes to the best credit cards for Walmart shopping. The introductory offer from the Capital One® Walmart Rewards™ Card offers 5% back for the first 12 months, but you must use your Walmart Pay app at the Walmart store to get it. Your reward for in-store purchases drops to 2% after the first year of card use.

Our review highlights several cards you may prefer to own that are at least as rewarding as Walmart’s, and, oftentimes, superior.



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How Do I Sell My Vehicle With Joint Ownership?

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A joint auto loan is when two borrowers have rights and responsibility to the same vehicle and loan. If you have a cosigner, then you, the primary borrower, have all the rights to the vehicle. Here’s what you need to know when you need to sell your car with two people responsible for the loan.

Selling a Joint-Owned Vehicle

Joint owners are typically spouses or life partners who combine their income to meet income requirements or get a larger loan amount. Both co-borrowers are responsible for paying the car loan and have 50/50 rights to the vehicle, so both their names are listed on the title.

Since your co-borrower has the same rights and obligations to the vehicle as you, you must get their permission to sell the car. In most cases, they also need to be present for the sale to sign the title. This may not always be the case, though, so it’s important to know how to read your car’s title.

If you have it, take a look at your vehicle’s title for the names listed on the back where you sign to transfer ownership. For example: let’s say your name is Jane and your co-borrower’s name is Joe. You’re likely to see either:

  • “Jane and Joe”
  • “Jane or Joe”
  • “Jane and/or Joe”

If you see “and/or” or the connector “or”, this typically means only one person needs to be present for the sale of the car. But if you see “and” this means both of you need to be present to transfer ownership – this is usually the case with joint ownership.

In all three cases, you still need the permission of the co-borrower to sell the vehicle even if they don’t have to be physically present to sign the title. If you sell it without the co-borrowers consent, it may be considered a crime because it’s their property, too. Moving forward, discuss the sale with your co-borrower to avoid potential legal trouble.

Selling a Car With a Cosigner

How Do I Sell My Car With Joint Ownership?If you have a cosigner on your car loan, then things become easier. A cosigner doesn’t have any rights to the vehicle and their name isn’t on the title. Their purpose is to help you get approved for the auto loan with their credit score, and by promising the lender to repay the loan if you’re unable to. A cosigner can’t take your vehicle, sell it, or stop you from selling it yourself.

However, it’s nice to let them know if you do decide to sell the car because the auto loan is listed on their credit reports. If you can, reach out to them about your plans to sell the vehicle. The car loan’s status impacts them and could affect their ability to take on new credit when it’s active.

If you sell the vehicle and the lien is successfully removed from the title, then you’re both in the clear.

Removing the Lien From a Vehicle’s Title

If you still have a loan on your car, then your number one priority is paying off your lender. Your lender is the lienholder, and you can’t sell a vehicle without removing them from the title – they own the car until you complete the loan. This typically means paying off the loan balance until naturally during the loan term, or getting enough cash to pay it all off at once from a sale.

When you’re selling a car with a loan, you want to get an offer for your vehicle that’s large enough to cover your loan balance and to remove the lien. If you don’t get a large enough offer, then you need to pay that difference out of pocket before you can sell the vehicle. Or, you may be able to roll over the remaining loan balance onto your next car loan if you’re trading it in for something else.

Looking to Upgrade Your Ride?

Many borrowers ask for help to get the car they need. If you need more income on your loan application to meet requirements, asking a spouse or life partner to chip in can do the trick. If you have a lower credit score, then a cosigner with good credit could help you meet credit score requirements.

But what if you want to go it alone on your next auto loan and your credit isn’t great? A subprime lender could be the answer. Here at Auto Credit Express, we’ve been connecting credit-challenged consumers to dealerships with bad credit resources for over two decades, and we want to help you too.

Fill out our free auto loan request form and we’ll look for a dealer in your local area that’s signed up with subprime lenders. These lenders assist borrowers with many unique credit circumstances to help them get the vehicle they need. Get started today!

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Fixed-rate student loan refinancing rates sink to new record low for the second straight week

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Our goal here at Credible Operations, Inc., NMLS Number 1681276, referred to as “Credible” below, is to give you the tools and confidence you need to improve your finances. Although we do promote products from our partner lenders who compensate us for our services, all opinions are our own.

The latest trends in interest rates for student loan refinancing from the Credible marketplace, updated weekly. (iStock)

Rates for well-qualified borrowers using the Credible marketplace to refinance student loans into 10-year fixed-rate loans hit another new record low during the week of May 3, 2021.

For borrowers with credit scores of 720 or higher who used the Credible marketplace to select a lender, during the week of May 3:

  • Rates on 10-year fixed-rate loans averaged 3.60%, down from 3.69% the week before and 4.32% a year ago. This marks another record low for 10-year fixed rate loans, besting the previous record of 3.69%, set last week.
  • Rates on 5-year variable-rate loans averaged 3.19%, down from 3.23% the week before and up from 3.04% a year ago. Variable-rate loans recorded a record low of 2.63% during the week of June 29, 2020.

Student loan refinancing weekly rate trends

If you’re curious about what kind of student loan refinance rates you may qualify for, you can use an online tool like Credible to compare options from different private lenders. Checking your rates won’t affect your credit score.

Current student loan refinancing rates by FICO score

To provide relief from the economic impacts of the COVID-19 pandemic, interest and payments on federal student loans have been suspended through at least Sept. 30, 2021. As long as that relief is in place, there’s little incentive to refinance federal student loans. But many borrowers with private student loans are taking advantage of the low interest rate environment to refinance their education debt at lower rates.

If you qualify to refinance your student loans, the interest rate you may be offered can depend on factors like your FICO score, the type of loan you’re seeking (fixed or variable rate), and the loan repayment term. 

The chart above shows that good credit can help you get a lower rate, and that rates tend to be higher on loans with fixed interest rates and longer repayment terms. Because each lender has its own method of evaluating borrowers, it’s a good idea to request rates from multiple lenders so you can compare your options. A student loan refinancing calculator can help you estimate how much you might save. 

If you want to refinance with bad credit, you may need to apply with a cosigner. Or, you can work on improving your credit before applying. Many lenders will allow children to refinance parent PLUS loans in their own name after graduation.

You can use Credible to compare rates from multiple private lenders at once without affecting your credit score.

How rates for student loan refinancing are determined

The rates private lenders charge to refinance student loans depend in part on the economy and interest rate environment, but also the loan term, the type of loan (fixed- or variable-rate), the borrower’s credit worthiness, and the lender’s operating costs and profit margin. 

About Credible

Credible is a multi-lender marketplace that empowers consumers to discover financial products that are the best fit for their unique circumstances. Credible’s integrations with leading lenders and credit bureaus allow consumers to quickly compare accurate, personalized loan options ― without putting their personal information at risk or affecting their credit score. The Credible marketplace provides an unrivaled customer experience, as reflected by over 4,300 positive Trustpilot reviews and a TrustScore of 4.7/5.

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Provident Financial calls time on doorstep lending business

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Provident Financial has confirmed plans to shut its 141-year-old doorstep lending arm, as its full-year results highlighted the strain the coronavirus pandemic and growing customer complaints have put on subprime lenders.

The Bradford-based company reported a pre-tax loss of £113.5m for 2020, compared with a £119m profit the previous year. The biggest drag was a £75m loss in its consumer credit division, which includes home credit.

Malcolm Le May, Provident chief executive, said: “In light of the changing industry and regulatory dynamics in the home credit sector, as well as shifting customer preferences, it is with deepest regret that we have decided to withdraw from the home credit market.”

Jason Wassell, chief executive of the Consumer Credit Trade Association, which represents alternative and high-cost lenders, said the decision showed that “the current regulatory framework does not work for the market, or its customers”.

“The result in this case is that access to credit will be reduced for hundreds of thousands of people.”

Provident built its name as a provider of home credit, or doorstep lending, which involves a team of local agents who regularly visit borrowers to collect repayments and discuss their products.

Proponents believed agents’ local expertise and personal relationships with borrowers allowed them to achieve better results than traditional bank lending to people with bad credit scores, but the approach has increasingly been superseded by digital models in recent years.

Provident’s business has also been affected by a series of self-inflicted and external difficulties. Its consumer credit division has been lossmaking since a botched effort to modernise the unit in 2017, which led to a pair of profit warnings and an emergency rights issue. More recently, its recovery has been hampered by an increase in customer complaints that prompted an investigation by the Financial Conduct Authority.

The complaints rise has been driven by professional claims management companies, echoing a broader trend across the subprime lending industry which has also affected companies such as Amigo, the guarantor lender. Executives also accuse the Financial Ombudsman Service, which adjudicates on customer complaints, of overstepping its mandate and encouraging huge volumes of complaints.

Provident said it would wind down or sell the consumer credit division, with either option expected to cost it about £100m. 

The move will see Provident exit the most controversial areas of high-cost credit to focus on what it describes as “mid-cost” lending through its Vanquis credit card business and Moneybarn vehicle finance arm. Vanquis and Moneybarn both remained profitable during 2020, despite more than a quarter of Moneybarn customers requesting payment holidays at the height of the pandemic.

The results were slightly better than average analyst forecasts, and the company said Vanquis and Moneybarn had both reported “improving trends” during the first quarter of 2021. Shares in Provident nonetheless dropped more than 10 per cent in early trading.

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