Walmart Rewards Mastercard Review – Forbes Advisor Canada – Forbes

The Walmart Rewards Mastercard competes well with similar store credit cards, with competitive rewards and financing options relative to other options.

Walmart Rewards Mastercard vs. Walmart Rewards World Mastercard

The Walmart Rewards World Mastercard is an alternative to the Walmart Rewards Mastercard that pays higher rewards and carries the “World Mastercard” badge. Both cards have no annual fee and offer the same welcome bonus and features.

The difference between the two is that the Walmart Rewards World Mastercard has better rewards, paying 3% on Walmart.ca purchases and 1.25% on purchases at gas stations, compared with the Walmart Rewards Mastercard’s 1.25% and 1%, respectively. Forbes Advisor Canada’s research shows that the extra rewards will add up to an additional $45.78 in rewards per year based on an average spending profile.

To qualify for the more rewarding Walmart Rewards World Mastercard, you’ll need a household income of at least $100,000. There’s no income requirement for the regular Walmart Rewards Mastercard.

Walmart Rewards Mastercard vs. CIBC Costco Mastercard

In case you missed it, the CIBC Costco Mastercard has replaced the now defunct Capital One Costco Mastercard. Like the Walmart Rewards Mastercard, the CIBC Costco Mastercard has no annual fee, but it does require a valid Costco membership which starts at $60 plus tax per year.

CIBC Costco Mastercard holders earn 3% in rewards at restaurants and Costco gas stations, 2% at other gas stations at Costco.ca and 1% on all other purchases including in Costco stores. Forbes Advisor Canada estimates the average Canadian will earn rewards of $367.62 to $422.58 with the CIBC Costco Mastercard, depending on how much shopping is done at Costco.

While Costco advertises it as a cash-back credit card, the CIBC Costco Mastercard actually pays rewards on an annual basis in the form of a gift certificate which can only be redeemed for merchandise in-person at Costco stores.

Like the Walmart Rewards Mastercard, the CIBC Costco Mastercard also allows cardholders to use CIBC’s Pace It installment plan to finance Costco purchases. The offer has a lower minimum purchase of only $100 (compared with $199.99 for Walmart), and options to finance purchases over 6, 12, or 24 months. The setup fee is lower at 1.50%, but an interest rate of 5.99% to 7.99% applies to installment plan balances.

Walmart Rewards Mastercard vs. Hudson’s Bay Mastercard

The Hudson’s Bay Mastercard is a no-annual-fee store credit card that rewards the handful of Canadians who still shop at The Bay.

Cardholders earn up to 4 Hudson’s Bay Rewards points per dollar spent at Hudson’s Bay stores and thebay.com, and 2 points per dollar spent everywhere else. Points are worth a half-penny each, making this card’s effective reward 2% on Hudson’s Bay purchases and 1% on all others. While the in-store rewards are better than the Walmart card’s, it’s tough to stock up on essentials like diapers and groceries at The Bay.

In addition to Hudson’s Bay Rewards, cardholders can also earn an average of 2% cash back at Neo Financial partners, which Neo Financial says includes “most major gas and grocery stores, restaurants, gyms, coffee shops and more.” The card also offers some novel features and functionality through the Neo app.

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