News & Resources

Walmart Canada Launches New Credit Card

June 15, 2010
2 mins
A pile of three credit cards

Walmart Canada announced a few weeks back that they had registered a Canadian bank and today was the launch of their first product - a Walmart MasterCard® credit card. This card offers shoppers the opportunity to earn Walmart Rewards that can be redeemed for Walmart goods and services. Here are the main features of the card:

  • Earn 1% of your purchases in Walmart Rewards, virtually anywhere you shop
  • Plus earn 1.25% when you shop at Canadian Walmart stores
  • Free supplementary cards to help you earn Walmart Rewards faster

Walmart rewards

The Walmart Rewards program offers dollar equivalents for shopping not points, with the idea it's easier for people to know how much they've earned, and they are offered on all everyday spending.

The cardholder earns 1.25% for shopping in Walmart and 1% elsewhere MasterCard is accepted. Walmart Rewards can be redeemed in $5 increments in any Walmart store and as an introductory offer if the card is used once in Walmart and once elsewhere within the first 30 days of issue then car earn a one-time bonus of $15 in value, and $10 for opting for paperless statements, they can earn a one-time Walmart Rewards bonus redeemable for a $15 value. When they opt to have paperless statements, cardholders can earn a one-time Walmart Rewards bonus redeemable for a $10 value.

Many retailers are branching out into financial services in order to grow their businesses. Loblaws offers financial services under the PC Financial brand, Canadian Tire offers credit cards, and HBC Financial Services offers several products too.

Many other products are expected from Walmart Bank Canada in the future and it could become a strong niche player with its large customer base.

Penelope Graham

A first-time homeowner and newbie investor, Penelope Graham is the quintessential millennial, navigating the world of personal finance and wealth management. A self-professed monetary policy nerd, she follows the often-controversial housing market closely and specializes in mortgage, credit card and personal finance news.

Latest life insurance articles

10 Myths About Life Insurance Busted – Some May Surprise You
You may be young with no kids and no mortgage. Life insurance is for someone older, who has dependents right? Wrong. Let’s debunk life insurance myths and learn why everyone needs some form of coverage.
Will a Life Insurance Policy Cover Death Due to COVID-19?
Demand for life insurance may be on the rise during the pandemic as more Canadians consider buying a policy or reviewing ones they already have. If you’re thinking of applying for a policy, here are a few things to keep in mind.
How Does Vaping and e-Cigarettes Affect Life Insurance?
Many insurers may classify vaping in the same way they do smoking. If you smoke or vape, you can still qualify for a life insurance premium, but in all likelihood, you will pay a higher rate than someone who does not.