There is often a fair amount of confusion of just how a Walmart credit card works for customers and non-customers alike. For instance, is there a discount at Walmart stores for using a Walmart credit card – much like frequent flier perks and discounts on airline credit cards? Or, perhaps, does using a Walmart credit help a customer accrue points or units towards free premium merchandise or services?
Questions like these should be answered before considering the use of a Walmart credit card or even making a Walmart credit card payment. But first let us consider the history of the Walmart credit card. This financial product has been around for a number of years and is offered by the stores to users with fair credit or above. The card is not considered a “premium” product thanks to its fairly high interest rate of 22% at last check and its emphasis on getting $100 cash back with a Walmart purchase.
Perks for Walmart credit cards include:
- No annual fee
- 3% off at participating Walmart gas stations
- No fraud liability
- The opportunity to receive a cash advance after making a purchase at Walmart. (Buyer beware.)
Disadvantages of using a Walmart credit card include a rather un-generous interest rate above 20 percent, which should be a caution to users of all consumer credit products – not just Walmart’s. Take our word for and live with your means while paying you credit card off in full each month. The accrued fees and penalties from messing about with consumer credit products can be a costly whim at best and a devastating and impoverishing financial disaster for you and your family at worst.
If you must, however, be sure to make your Walmart credit card payment on time each month. It would appear as if the Walmart credit card payment cycle has a 33 day grace period, but you’ll want to take prudent caution and make your payment well within the allotted Walmart credit card bill payment cycle.
Do you have further questions as you consider whether or not to apply for a Walmart credit card review? There are any number of excellent resources for continuing your research, including this Nerdwallet review of the Walmart credit card that lays out the various pitfalls and advantages of Walmart credit card partnerships and walmart credit cards for those with less than stellar financial history and means. And, if you must, there is the official application for the Walmart credit card.
In conclusion, we advise caution when using any consumer credit product. In fact, we recommend avoiding them entirely and permanently. But the Walmart credit card has its place amongst this galaxy of usury and you may has well be informed if you’re considering setting off down that long road of near-indentured-servitude and perpetual indebtedness to “the man,” who, we’re told may just bear an uncanny resemblance to a certain now-departed captain of industry hailing from humble roots in Fayetteville, Arkansas.