Capital One Walmart Credit Card: Changes You Need to Know

If you are a Walmart shopper and have been using a Capital One Walmart Credit Card, you may have already read or heard the recent announcement. If not here is the big announcement- Walmart has ended its relationship with Capital One. This situation has affected many consumers. But do not worry, you can continue using your Capital One Walmart Credit Card and earn your rewards and points until further notice. What does this mean for you and what are the choices?

When a business partnership between Walmart and Capital One will end?

In 2019, both Walmart and Capital One formed a partnership. And Capital One was able to provide Walmart with consumer credit cards. The deal included such incentives as bonus AIR MILES that could be earned for purchases at Walmart and other retail stores, and cash back. But things changed in 2023 when Walmart sued Capital One for delaying the processing of payments as well as issuing new cards. At some point, Walmart wished to bring the cooperation between the companies to an early end, accusing Capital One of not meeting service requirements.

Therefore, the business relationship of Walmart and Capital One retail credit card was terminated. As a result of this change, existing cardholders possess certain changes that were previously witnessed when they had the Capital One Walmart Credit Card.

What Will Happen To Capital One Walmart Credit Card?

If you hold a Capital One Walmart Credit Card, you may use it in your day-to-day operations for now. You will continue to earn rewards on the purchases that you make with the card. However, due to the severed partnership between Walmart and Capital One, both companies are transferring these cards to a new product known as the Capital One Quicksilver Cash Rewards Credit Card.

Most of the cardholders can continue enjoying the rewards as it may seem due to the following reasons. The bigger credit balance existing on your Walmart Rewards Card will be transferred to the new Quicksilver card. This transfer is a smooth process and your rewards will not have any expiration date.

What Is Capital One Quicksilver Cash Rewards Credit Card? 

The Capital One Quicksilver Cash Rewards Credit Card may look like a downgrade for some Walmart Rewards Cardholders. The Quicksilver card gives 1.5% cash back on all purchases which is pretty good. But it is not nearly as good as the Capital One Walmart Credit Card which gives 5% on purchases made at Walmart.com.

Here’s a quick comparison of the rewards:

• 5% on Walmart chain’s digital properties which we include Walmart.com and the Walmart app 2% on in-store transactions, 2% on fuel and vehicle, and 1% on other categories.

• Yes,xCB has a cashback rate of 5% on all its purchases without any particular categories or bonus accreditation.

Therefore, the Quicksilver card is, in fact, an improvement for anyone who wasn’t using the previous Capital One Walmart Credit Card. But it may come as a disappointment to anyone who previously received better rewards rates when shopping at Walmart.

What To Do With Capital One Walmart Credit Card?

If you were a previous holder of the now-defunct Capital One Quicksilver Cash Rewards Credit Card and you find yourself having two cards today, then here’s how you do it. Because each of the cards has its own credit limit and account number, one can consider all the cards rather different cards. You have the option of keeping exactly two cards, or you can select to be moved to a different Capital One card.

If you don’t want to keep two Quicksilver cards, you can check for any upgrade options directly through your Capital One account. If you’re not eligible for an upgrade, you can cancel the card, but remember to redeem any remaining rewards before closing it. Closing a credit card could impact your credit score, so it’s better to wait for an upgrade if possible.

Is Capital One Quicksilver A Good Replacement?

It offers no annual fee and easy cash back. But it’s not the best choice if you’re looking for high rewards at Walmart. For example, the Prime Visa Card offers 5% back on Amazon purchases. While the Blue Cash Everyday® Card from American Express earns 3% back on U.S. supermarket and online retail purchases. Moreover, these cards come with different features and rewards, they may suit you better depending on your shopping habits.

The Bottom Line: 

If you’re one of the many affected by this change, there’s no immediate action you need to take. The Capital One Walmart Credit Card may have ended, but the transition to the Capital One Quicksilver Cash Rewards Credit Card should be smooth. Just keep using your card and monitor any updates from Capital One or Walmart.

However, if you find the rewards not as satisfying, consider exploring other credit cards that may better fit your needs. Keep in mind that while the Quicksilver card offers decent rewards, there are other options that can deliver better benefits in different categories. If you’re unsure about the changes, it’s always a good idea to reach out to Capital One for guidance.

The end of the partnership between Walmart and Capital One may have thrown many consumers off balance, but with the new Capital One Quicksilver Cash Rewards Credit Card, there are still plenty of opportunities to earn cash back. Keep track of your rewards, weigh your options, and make sure you choose the card that works best for you.

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