Are you in the market for a new card and considering the Walmart MoneyCard®? Before you apply for the card, you'll want to learn some key facts about the offer and how it compares to other cards on the market.
First, let's cover the basics. In reviewing the card, we rated it a 4.2 out of 5.0, which means that like many other cards, we found the Walmart MoneyCard® to have some solid benefits and some possible drawbacks.
The Walmart MoneyCard® offers a high cash back rewards rate for Walmart shoppers that is worthy of your attention.
Next up, let's dive into the details you should consider before applying. Here's a rundown of the card's key features, rates, and terms:
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- Waive your monthly fee when you direct deposit $500+ in previous monthly period. Otherwise, $5.94 a month.*
- Earn 3% cash back at Walmart.com, 2% cash back at Walmart fuel stations, & 1% cash back at Walmart stores, up to $75 each year.*
- Earn 2% interest rate on up to $1,000 balance in your savings account. Plus, get chances to win cash prizes each month!*
- Get peace of mind with three coverage levels, up to $200, for purchase transactions with opt-in & eligible direct deposit.*
*Please see site for full terms and conditions.
Additional Disclosure: Walmart MoneyCard® is a debit card offer.
There's certainly a lot to like about the Walmart MoneyCard®. But just like with other cards we review, we stress that potential applicants should pay attention to this card's rates and fees as part of the bigger overall picture.
Let's dive deeper into those rates and fees, as they could make or break whether owning the card makes sense for you and your financial situation.
The interest rate, also known as APR (annual percentage rate), tells you what percentage of your balance you can expect to pay in interest annually if you carry a balance.
According to the issuer, the Walmart MoneyCard® currently charges the following interest rates on purchases and balance transfers:
- Purchase Intro: N/A
- Balance Transfer Intro: N/A
- Regular APR: N/A
Another possible expense to consider is the annual fee, which is the amount a cardholder is required to pay each year for the privilege of owning a particular card.
Here's the annual fee for the Walmart MoneyCard® as listed by the issuer:
See site for details »
So far, we've covered the Walmart MoneyCard® in great detail, from its many benefits to its current rates and fees. But what are your odds of approval? What credit score is needed to become a cardholder?
According to the issuer, the current general credit history requirement for the card is:
If you feel you have the credit needed for approval and you're ready to apply, you can do so online on the issuer's secure website.
Keep in mind that rates and features may change, so if you like what the card is offering today, you may want to apply now to lock it in its current terms before it's too late.
We've discussed the many benefits, drawbacks, and requirements of the Walmart MoneyCard®, but how does it rank versus similar cards on the market? Below are all the category-specific ratings our team gives the card, along with the card's ranking within each category.
Quick hint: Want to see our best-reviewed cards in each category? Simply click the category name to see our top picks:
All told, our team's review of the Walmart MoneyCard® resulted in a rating of 4.2 out of 5.0, as the card features many pros and cons for a potential cardholder to consider. Ultimately, it's up to you to determine if the card's benefits outweigh its possible drawbacks. If you determine that it's a fit for your needs, you may want to apply soon, as terms throughout the industry change regularly.
We hope our guide has been helpful in learning all you need to know about the Walmart MoneyCard®. We wish you the very best on your financial journey!
Be sure to visit the official website for Walmart MoneyCard® to learn complete details about its features and terms. If you’re not quite sure if Walmart MoneyCard® is right for you, we encourage you to check out these guides to popular alternatives:
Before applying for the Walmart MoneyCard® offer or any other offer, be sure you understand all fees, interest rates, and terms so you can make the best decision for your own financial goals.