Walmart and Sam’s Club Credit Cards to Switch to MasterCard from Discover
GE Capital Retail Bank announced today a “multi-year agreement” that will see GE Capital remain the issuer of Walmart and Sam’s Club credit cards. However, one thing will change — the co-branded Walmart and Sam’s Club credit cards will no longer be Discover Card credit cards but instead will switch to MasterCard.
While Discover has made efforts to increase the number of merchants that take Discover (with some success), today’s press release takes a bit of a jab at Discover, saying the switch to MasterCard will provide “members with a broader card acceptance network.”
Both Walmart and Sam’s Club offer two types of credit cards, one being store credit cards good only at Walmart and Sam’s Club, and the other being co-branded cards with wider usage outside of these stores. In addition, the co-branded cards come with rewards that the store-only cards do not offer. It is these co-branded cards that are switching from Discover to MasterCard. (Co-branded cards are generally offered to those with good credit, while those whose credit is not as good are offered the store-only cards.)
GE Capital Retail Bank is set to be spun off from its parent company later this year into a new public company named Synchrony Financial. This change in its business will not affect the new agreement with Walmart and Sam’s Club.
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Walmart Credit Card Online Services information
GE Money Bank (GEMB) issued the Walmart Credit Card, and the Walmart credit card is also operated by GEMB. Walmart credit card comes in two variants, the discover card and regular card. Walmart Credit card issuer can add up to 99 authorized cardholders’ just on one card.
Business customers can also use the corporate version of both cards. Community credit cards also can be applied by Government agencies and non-profit organizations.
Benefits of Walmart Credit Cards
The different features and benefits connected with the regular Walmart credit card include:
- Savings of up to 3¢ on every gallon that is purchased at participating gas stations of Wal Mart.
- Cash advances of up to $100 on every Wal Mart purchase.
- 25-day grace period.
- Over limit and returned check fee of $25.
- No annual fee.
- No liability in case of fraudulent transactions
- The Walmart card can be used at SAM’S CLUB, Thrifty Car Rental, Wal-Mart, Walmart.com, and AOL.
- You get a discount of 3 cents for every gallon of gas you fill at Walmart or SAM’s Club gas stations. (3 cents, not 3 percent – that only equals about a 1% rebate)
Note:Regular Wal Mart credit cards are subject to an APR of 9.87%, 15.87% or 19.87%.
Walmart Discover card benefits:
The Wal-Mart Discover card has some exclusive features and benefits including above benefits and some other benefits such as:
- Cash backs equivalent to 1% of the purchase amount.
- Global acceptance at all locations that have an embossed Discover Network Acceptance Mark.
- APR of 9.87%, 15.87% and 18.87%, which is decided at the time of credit approval.
Wal Mart Credit Cards limitations:
The features and benefits are offered by Walmart credit cards those are subject to certain limitations, such as:
- The discount offer extended at gas stations is not applicable in Puerto Rico.
- Cash advances that are given by the regular Wal Mart credit card have an upper limit of $65. Additionally, cardholders will be given one cash advance per day.
- The percentages at which rewards are extended are determined how much the cardholder spends. Purchases up to $1,500 yield a reward percentage of 0.25% and total purchases between $1,500.01 and $3,000 are eligible for reward percentages of 0.50%. Reward percentage of 1% is applicable on purchases worth $3,000 and above.
For business Credit card, you need to fill up the information of yours and your company related information.
- No annual fee
- Itemized statements with product-level detail
- purchase order tracking
- over 3500 Walmart stores nationwide
- Purchasing control with up to 99 authorized users
Community Credit card, for more information see here
How to apply for a Walmart Credit Card:
Who has a good credit history, can apply for Walmart Credit card. There are two ways of applying of Walmart credit card, first is online and second is by physically visiting at the local store. Generally an applicant with a FICO score of more than 665 obtains approved. The decision of approval of credit card is delivered immediately. And the Credit card dispatched within seven to fifteen days after the application date if it approved.
Does Walmart take international credit cards?
Foreign visitors to Walmart locations in the United States can use their credit cards issued by banks outside of the U.S. Walmart accepts international credit cards, including American Express, Discover, MasterCard and Visa. Some Walmart stores may accept international credit cards issued by JCB and UnionPay (only those with the "UnionPay" logo on the front of the card and card numbers starting with "62") as well.
Tips for Using Your International Credit Card at Walmart Stores
To be sure what credit cards are accepted at the Walmart store that you're visiting, consult the "We gladly accept" sign located at the store's entrance.
The international financial institution that issued your credit card may require advance notification that you're traveling to authorize transactions abroad. Call the customer service line on the back of your card and notify the representative about your travel plans to prevent any problems.
The chip-and-pin cards are very new in the U.S. Their current iteration, as of October 2015, is closer to "chip-and-sign" cards. Some Walmart pay terminals may ask you to provide a signature instead of your card's PIN.
If you run into any issues when processing your card's chip, payment terminals at Walmart are still equipped with magnetic stripe readers. If you card has a magnetic stripe, you can use it as a backup plan for payment.