Yes, but only through the Walmart Rewards Card, and only at Walmart and Sam's Club

The Walmart Rewards Card (the store card issued by Capital One) does not offer cash back rewards on purchases. Instead, it earns points that convert to Walmart dollars — a closed-loop reward that only works at Walmart and Sam's Club locations. If you want actual cash back from a credit card, you need a different card entirely.

The confusion happens because Walmart also offers the Walmart Rewards Mastercard, a general-purpose card that does earn cash back. That card gives you 3% cash back on Walmart and Sam's Club purchases, 1% on gas, and 1% on everything else. The cash back lands in your account as a statement credit or can be withdrawn as actual money.

The key difference: the store card (Capital One Walmart Rewards Card) locks you into Walmart's ecosystem. The Mastercard lets you spend the reward anywhere. Which one makes sense depends on how much you actually shop at Walmart.

Key Takeaways

  • The Walmart Rewards Card earns points redeemable only as Walmart dollars, not cash back.
  • The Walmart Rewards Mastercard earns 3% cash back at Walmart and Sam's Club, 1% on gas, and 1% elsewhere — and the cash back is real money you can use anywhere.
  • Store cards typically have lower credit limits and higher interest rates than general-purpose cards, so compare the APR before you apply.
  • Cash back from the Mastercard posts as a statement credit monthly, and you can request it as a check or bank transfer instead.

The Walmart Rewards Card (Store Card) and Its Point System

The Walmart Rewards Card earns 3% points per dollar at Walmart and Sam's Club, 1% at gas stations, and 1% everywhere else. Those points convert to Walmart dollars at a 1:1 ratio — meaning 100 points equals $1 in Walmart credit. The dollars appear in your account and you use them at checkout, either in-store or online at Walmart.com.

This is not cash back. You cannot withdraw the dollars, transfer them to your bank, or spend them anywhere except Walmart and Sam's Club. If you shop exclusively at Walmart, the points add up quickly. If you shop elsewhere, the reward is worthless to you.

The store card also comes with an annual percentage rate (APR) that varies by creditworthiness — Capital One typically offers rates between 18% and 24% for this card, which is higher than most general-purpose cards. There is no annual fee, but the higher APR means carrying a balance costs more.

The Walmart Rewards Mastercard and Real Cash Back

The Walmart Rewards Mastercard is a Mastercard issued by Capital One that works anywhere Mastercard is accepted. It earns 3% cash back at Walmart and Sam's Club, 1% cash back on gas purchases, and 1% cash back on all other purchases. The cash back is actual money — it appears as a statement credit each month and you can request it as a check or direct deposit to your bank account.

This card has a variable APR that also depends on your credit score, typically ranging from 16% to 24%. There is no annual fee. Because it is a general-purpose card, you can use it at any retailer, restaurant, or service provider that accepts Mastercard.

The trade-off: the Mastercard earns less at Walmart (3% instead of the store card's 3%, so they match there) but you get 1% back everywhere else instead of being locked into Walmart's ecosystem. For someone who shops at multiple retailers, the Mastercard is usually the better choice.

How to Redeem Cash Back From the Mastercard

Cash back from the Walmart Rewards Mastercard posts to your account automatically each month. You do not have to do anything to earn it — it accumulates as you spend. When you log into your Capital One account online or through the mobile app, you can see your cash back balance under the rewards section.

To redeem, you have three options: apply it as a statement credit (which reduces your bill), request a check mailed to your address, or transfer it directly to your linked bank account. The statement credit is instant. A check takes 7 to 10 business days. A bank transfer typically posts within 1 to 3 business days.

There is no minimum amount you have to redeem, and there is no expiration date on your cash back. You can let it accumulate and redeem a large amount later, or redeem small amounts monthly — the choice is yours.

Store Card vs. Mastercard: Which One to Choose

Choose the store card if you spend more than $200 per month at Walmart or Sam's Club and rarely shop elsewhere. The 3% earn rate is solid, and the points add up fast if you are a regular Walmart shopper. The downside is that your reward is trapped in Walmart's system — if you stop shopping there or move to a different retailer, the points become useless.

Choose the Mastercard if you shop at multiple retailers or want flexibility with your cash back. You earn the same 3% at Walmart but also get 1% back on everything else, and the cash back is real money you can use anywhere. This card makes sense if you want one card that works across your entire spending, not just at one store.

You can also carry both cards — use the store card at Walmart to maximize points, and use the Mastercard everywhere else. Just be aware that opening two cards in a short time will affect your credit score slightly, and managing two accounts adds complexity.

APR, Fees, and Other Terms to Compare

Both Walmart cards charge no annual fee, which is standard for store cards and many general-purpose cards. The real cost difference is the APR — the interest rate you pay if you carry a balance. Both cards have variable APRs that start between 16% and 24% depending on your credit score.

If you pay your balance in full each month, the APR does not matter. If you carry a balance, a 2% difference in APR adds up quickly. For example, a $1,000 balance at 18% APR costs about $15 in interest per month, while the same balance at 24% costs about $20. Over a year, that is a $60 difference.

Check your specific APR offer before you apply — Capital One will show you the range you may have access to for based on your credit. Neither card offers an introductory 0% APR period, so there is no grace period for new cardholders.

When Cash Back Does Not Post and What to Do

Cash back from the Mastercard posts monthly, usually around the same date each month. If you do not see your cash back appear after 30 days of a purchase, log into your Capital One account and check the transaction history to confirm the purchase posted. Sometimes a pending transaction does not count toward rewards until it settles, which can take a few days.

If a transaction posted but the cash back did not appear, contact Capital One customer service through the app or by phone. They can verify whether the purchase was may be able to access for cash back (some merchants code incorrectly, and the card may not recognize a Walmart purchase if it came through a third-party seller or marketplace). Capital One can manually add missing cash back if there was an error on their end.

Frequently Asked Questions

Can I use Walmart dollars from the store card to buy anything at Walmart?

Yes. Walmart dollars work like a gift card — you can spend them on groceries, clothing, electronics, or anything else Walmart sells in-store or online. They also work at Sam's Club if you have a membership. You cannot use them at other retailers.

Does the Mastercard earn cash back on Walmart gift cards?

No. Purchasing a gift card is typically not considered a purchase of goods or services, so most credit cards do not earn rewards on gift card purchases. Check your cardholder agreement or contact Capital One to confirm, as policies can vary.

What happens to my points if I close the Walmart store card?

Your points are forfeited when you close the account. If you have accumulated points, redeem them as Walmart dollars before closing the card. Once the account is closed, you cannot access the points.

Can I transfer cash back from the Mastercard to someone else?

No. Cash back is tied to your account and can only be redeemed by you. You cannot gift it or transfer it to another person's account.

Is there a limit to how much cash back I can earn per month?

No. The Walmart Rewards Mastercard has no cap on cash back earnings. You earn 3% on every Walmart purchase and 1% on every other purchase, with no monthly or annual limit.