How Do I Use Walmart Rewards In 2023? (Your Full Guide)

Walmart offers customers two different credit cards that allow you to earn valuable Rewards points when you shop. The Capital One Walmart Rewards Card and the Capital One Walmart Rewards Mastercard can help you save money on your Walmart purchases.

But how exactly do these cards and their Rewards programs work? How much are the points worth? And how can you redeem them in 2024? This comprehensive guide will explain everything you need to know to maximize the value from your Walmart credit card Rewards.

What Are The Walmart Credit Card Rewards Programs?

Walmart has partnered with Capital One to offer customers two different credit cards with Rewards programs:

  • Capital One Walmart Rewards Card – This card earns 5% back on purchases, 2% back at Walmart stores, 2% back at Murphy USA and Walmart gas stations, and 1% back everywhere else. It can only be used at Walmart and Murphy‘s.

  • Capital One Walmart Rewards Mastercard – This card offers 5% back on purchases, 2% back at Walmart stores, 2% back on dining and travel, and 1% back everywhere else. It can be used anywhere Mastercard is accepted.

Both cards offer new cardholders 5% back on all Walmart purchases for the first 12 months after opening the account.

The Rewards come in the form of points that can be redeemed for statement credits, direct deposits, checks, or Walmart gift cards.

How Do The Walmart Rewards Points Work?

You‘ll earn Rewards points every time you use your Walmart credit card for purchases. Here‘s a breakdown of how many points you‘ll earn:

  • 5 points per $1 spent on (5% back)
  • 2 points per $1 spent at Walmart stores (2% back)
  • 2 points per $1 spent on dining and travel with the Mastercard (2% back)
  • 1 point per $1 spent everywhere else (1% back)

On the Capital One website or app, you‘ll be able to see your accumulated points balance. 100 points is worth $1 in Rewards value. So if you earn 5,000 points, that equates to $50 in Rewards.

The points have no expiration date, so you can save them up as long as you keep your account open and in good standing.

How Much Are Walmart Rewards Points Worth In 2023?

Walmart Rewards points have a fixed value of 1 cent per point. So for every 100 points earned, you‘ll get $1 in redeemable Rewards value.

This value is not likely to change in 2024. Walmart has kept this 1:1 point conversion rate consistent for many years.

Here are some examples of Walmart Rewards point values:

  • 100 points = $1
  • 500 points = $5
  • 1,000 points = $10
  • 5,000 points = $50

You can easily calculate how much your points are worth at any time by dividing the point amount by 100.

So if you have 8,700 points, divide that by 100 to get $87. That‘s how much redeemable cash value those points have.

How Do I Redeem My Walmart Rewards Points In 2023?

You have several options for redeeming your accumulated Walmart Rewards points:

Get a statement credit: Apply your points as a statement credit to lower your monthly bill on your Walmart credit card account. This is an easy way to use points to pay down your credit card purchases.

Request a direct deposit: Have your Rewards value deposited directly into your bank account via an electronic funds transfer. The amount will show up just like any other bank deposit.

Get a check: Ask for a check to be mailed to you to redeem your points. The check amount will match the value of the points you are redeeming.

Convert to Walmart gift cards: Turn your points into Walmart gift cards to extend your spending power at Walmart stores and on You can get eGift cards instantly or physical cards mailed to you.

Use for purchases: If shopping on, you can apply your Rewards points value during checkout to lower the purchase amount.

All of these redemption options will remain the same in 2024, giving you flexibility in how you want to use your accumulated Rewards.

Do Walmart Rewards Points Expire?

The good news is that Walmart Rewards points do not have an expiration date. As long as you keep your credit card account open and active, your points will not expire over time.

There is no time limit to use your accumulated points. Even if you earn Rewards this year, you can hold onto them and redeem them years down the road. The points will never lose their cash value.

However, there are some situations where your points could be forfeited:

  • Closing your credit card account voluntarily will result in loss of any unused points.

  • If Capital One closes your account due to inactivity, non-payment, or other reasons, your points will be gone.

  • Legal actions like bankruptcy can also lead to forfeiture of Rewards points.

As long as you actively use your Walmart credit card and pay your bill on time each month, your points will never expire!

Why Can’t I Redeem My Walmart Rewards?

If you try to redeem your Walmart Rewards points and the request is denied, there are a couple possible reasons:

  • Account not in good standing – You likely have an overdue payment on your card. Settle the outstanding balance and get your account back in good standing to access points.

  • Account closed – Either you or Capital One closed the credit card account, so the points are forfeited. You cannot redeem rewards on a closed account.

  • Insufficient points – You may be trying to redeem more points than you actually have available. Double check your real rewards point balance.

  • Site errors – Sometimes temporary technical issues on Capital One‘s website or app can cause problems redeeming points. Try again later.

  • Legal actions – In extreme cases like bankruptcy, Capital One may restrict access to rewards.

If you are sure your account is open and in good standing, but you still can‘t redeem points, contact Capital One‘s customer service for help. There may be an error or hold on your account they need to remove.

Tips For Maximizing Your Walmart Rewards Value

Here are some tips to help you get the most value from the Walmart credit card Rewards programs:

  • Use your card for everything at Walmart – The 5% and 2% earn rates add up quickly when you use the card for all Walmart purchases.

  • Shop – Online purchases get 5% back instead of just 2% in stores, so shop online when possible.

  • Pay your bill in full – Pay on time and in full each month to keep your account in good standing so your points are not at risk.

  • Compare prices – The Rewards bonuses may make Walmart cheaper than competitors, but always compare.

  • Stack savings – Use Walmart coupons, promo codes and cash back sites to maximize total savings.

  • Track your points – Log in to your account regularly to monitor points earned and see redemption options.

  • Redeem strategically – Save up points for bigger redemptions rather than frequent small ones to maximize value.

The Bottom Line

Walmart‘s credit card Rewards programs offer great ways to earn cash back on your Walmart purchases through points. The Capital One cards make it easy to rack up points and redeem them in different ways.

In 2023, the fundamentals of earning and redeeming Walmart Rewards will remain the same. Focus on making the most of bonus category spending, paying your bill responsibly, saving up points, and redeeming them strategically. Follow the tips in this guide to maximize the value you get from your Walmart credit card Rewards.

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