Walmart announced that Capital One will no longer be the exclusive credit card issuer of its rewards program.
The card, which had no annual fee since its inception in 2019, offered 2% back on in-store purchases and incentivized delivery and pick-up orders with a 5% return. Despite this change, Capital One will continue providing credit card services.
“While Capital One and Walmart have ended their card partnership, nothing changes today for cardholders – cardholders can continue to earn and redeem rewards, and previously accrued rewards will retain their value,” the companies clarified in a joint statement. “Until informed otherwise, cardholders can also continue to use their Capital One Walmart Rewards® Card wherever Mastercard is accepted and the Walmart Rewards® Card for purchases at Walmart.”
Walmart’s website still allows users to become pre-approved for the card. The Truth Voices reached out to Walmart for comment.
Walmart continues to offer a debit card option with One, which also provides cash-back rewards.
This development follows U.S. District Judge Katherine Polk Failla’s ruling in Manhattan on a lawsuit Walmart filed against Capital One concerning the partnership. According to Walmart, Capital One was slow in posting transactions to users’ accounts and replacing lost or stolen cards. Failla ruled in Walmart’s favor, allowing the retailer to terminate the contract early due to “repeated customer service failures.”
