Walmart tagline parody
Did a cashier peddle you the Walmart credit card application during checkout? This 2014 review will show you the truth.

Rewards Shocker?
There are two version of the card – the store-only Walmart card and a co-branded Discover card that can be used anywhere Discover is accepted.

Update: In April 2014, Walmart announced it would be transitioning its Discover card to MasterCard later in the year.

Believe it or not, the only rewards offered on the store version of the Walmart card is a measly 5 cent per gallon discount at their participating gas stations. Please note that's only 5 cents, NOT 5 percent. And aside from that, there is no cash back or points earned on any of your spending!

When you consider how outrageous gas prices are nowadays, this 5 discount is pathetic... as long as gas is above $4/gallon you are earning less than 1.25% cash back. At $4.50 per gallon it's only 1%.

Your best bet would be to go for something that gives double points (worth 2% cash back) at ALL gas stations.Meanwhile the Walmart Discover card (which will soon be a MasterCard) does give rewards elsewhere, but they're nothing to write home about:
  • 0.25% on total annual spending up to $1,500
  • 0.50% on total annual spending from $1,500.01 to $3,000
  • 1.00% on total annual spending over $3,000
So the max you can earn with it is 1%... what a joke. Recently I was speaking with a relative who said she wanted to apply for a Walmart credit card. When I asked her why, she said "Because Walmart is a good place to save money." Well, you can't deny that, but that same philosophy doesn't apply to their credit card.

Something else to keep in mind is the Discover credit card is not issued by Discover! It only operates over the Discover payment network (like a Visa or MasterCard). The actual card itself is issued and managed by GE Money.

Interest Rate?
As I write this review, the APR on this credit card is a crazy 22.90 percent on both the regular and Discover card. We all know carrying a balance is a bad idea, but is it really fair for us to pay through the nose if we do?

Customer Service?
As mentioned, their cards are issued by GE Capital Retail Bank (formally known as GE Money Bank) which is a big issuer of store cards and are notorious for their subpar service. The number of negative GE Money Bank card reviews posted on this website and elsewhere speaks volumes as to the service (or lack thereof) they offer.

Acceptance?
The regular Walmart card can only be used for purchases at their stores. Everywhere else it's totally useless. On the other hand the Discover can be used elsewhere, but with no bonus categories for higher rewards it's not too exciting, is it?

Benefits?
The Walmart credit card benefits are lacking, to say the least. There isn't an annual fee (whoop de doo) and other than that, the only benefit I see worth mentioning is that once per day, you have the ability to get cash back at the register when paying (similar to what you can do with an ATM card).

Verdict?
It's hard to find one good reason to fill out an application for the Walmart cards. At my local store they were trying to convince people to apply for the card by giving them a free 2 liter bottle of soda (and that probably costs what, a $1.29 or so?!). I don't know about you, but It's going to take a heck of a lot more than that for me to ever consider this piece of crap!

More recently during 2014 I've seen they're offering a $25 bonus after you open an account and spend $75. Why care about $25 when you can earn a much higher bonus with so many other credit cards!