Walmart Rewards Mastercard review: fees and how to apply
See the rewards, interest rates and fees before you apply
If you shop regularly at Walmart Canada, the Walmart Rewards Mastercard lets you earn rewards on those purchases with no annual fee.
You can use the card at Walmart and anywhere else Mastercard is accepted. Purchases at Walmart earn the highest rate, and your rewards come in the form of Walmart Reward Dollars that you can use at Walmart.
Before applying, it’s important to understand how the rewards work and what the card costs.
Below, we’ve put together the key points you should know about this credit card.
Who is the Walmart Rewards Mastercard for?
The Walmart Rewards Mastercard suits people who shop at Walmart often and want to earn rewards on those purchases without paying an annual fee.
It’s less useful for people who rarely shop at Walmart, since rewards can only be redeemed there and purchases elsewhere earn a lower rate.
When you apply, you’re applying for the Preferred Rate Card. If you’re not approved for it, your application is also considered for the Standard Rate Card, which has higher interest rates.
Walmart Rewards Mastercard credit card benefits
Here are the card’s main benefits:
- Reward Dollars on your purchases: earn 3% in Walmart Reward Dollars on purchases at Walmart and 1% on purchases everywhere else;
- Simple redemption: each Walmart Reward Dollar you earn is worth one dollar when you redeem it at Walmart;
- No annual fee: the card has no annual fee;
- Walmart+: get up to 6 months of free Walmart+ membership every year, subject to conditions;
- Installment plans: split eligible Walmart purchases of $199.99 or more into 6 payments;
- Security: Mastercard Zero Liability protection against unauthorized transactions and 24/7 Mastercard Global Services for lost cards and emergency cash.
The standard Walmart Rewards Mastercard doesn’t include purchase or travel insurance. Purchase Assurance and Extended Warranty are only included with the Walmart Rewards World Mastercard.
Credit card limit
Fairstone Bank of Canada, the card’s issuer, doesn’t publish a fixed credit limit. Your initial credit limit is shown in your Welcome Kit, and your current limit appears on each monthly statement.
Your limit depends on Fairstone’s review of your application and credit history. Paying your statements on time can help your credit profile over time.
Walmart Rewards Mastercard: fees and rates
Here’s how the Walmart Rewards Mastercard fees and rates work:
- Annual fee: $0;
- Interest rates: 21.99% on purchases and 22.99% on cash transactions with the Preferred Rate Card, or 26.99% and 27.99% with the Standard Rate Card. For Quebec residents, the rate is 21.99% on purchases and cash;
- Missed payments: if you miss your minimum payment for 2 billing periods within 12 months, your rate may increase to 26.99% on the Preferred Rate Card or 29.89% on the Standard Rate Card. It goes back to your original rate after 12 consecutive on-time payments;
- Foreign transaction fee: 2.5% on purchases in foreign currencies;
- Other fees (not applicable in Quebec): $5 cash advance fee in Canada, balance transfer fee of up to 5%, $29 over-limit fee and $20 dishonoured payment fee.
Fees checked on September 22, 2026, against the Walmart Rewards Mastercard Disclosure Statement. Confirm current terms on the Walmart website before applying.
How to apply?
You can apply for the Walmart Rewards Mastercard online or in a Walmart store. To apply online:
- Go to the Walmart Rewards Mastercard page on the Walmart Canada website and click “Apply now”;
- Fill out the application with your personal, contact and financial information;
- Read and accept the terms and conditions;
- Submit your application for a credit check.
If you’re approved, your card will be mailed to you with your Welcome Kit and Cardholder Agreement. For questions about your application or account, you can call Fairstone at 1-888-331-6133.
Opinion about the card
The Walmart Rewards Mastercard can be a good option for people who shop at Walmart regularly. The 3% rate at Walmart and the free Walmart+ benefit can add real value, with no annual fee.
However, your rewards can only be used at Walmart, and purchases elsewhere earn 1%. The standard card also doesn’t include insurance, and interest rates start at 21.99%, or higher if you’re approved for the Standard Rate Card.
Before applying, compare how much you spend at Walmart with the card’s costs and conditions.
Click the button below to be redirected to the official website to apply for the Walmart Rewards Mastercard.
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Legal Disclaimer: This website is independent and purely informational, and its content does not constitute financial advice. Finvyu is not affiliated with Walmart or Fairstone Bank. We do not guarantee credit approval or card issuance, which are subject solely to the risk analysis of Fairstone Bank of Canada. Finvyu Editorial Team.
