Here’s the Video Transcript:
– Do you have the Capital One credit card? Are you thinking of applying for it? Well, it's not being issued
by the Capital One Bank. Learn about all the changes and how they will effect you. Stay tuned. (dramatic music) So, big changes are coming to Walmart. The Walmart credit card, and the Walmart Master Card will now be issued by Capital One bank. Before that it was Synchrony Bank. So, with all of this, there's going to be a lot of changes to the way this card works, and along with that there will be changes to the reward program. If you find this video
today helpful in anyway, I'd appreciate it if you
could hit the like button. It helps me a great deal, it tells YouTube that you
are watching something that you like, and if you like it even more than just learning about this offer today, please hit the Subscribe
button and bell notification and when I make new videos, you will be notified. Okay, so the program is
gonna work like this. You will earn 5% back on all
your purchases made online, except for groceries.
And you will earn 5% back
on all in store purchases for the first 12 months
of having this card. And then after that, if you have the Walmart Master Card, you will be earning 2%
back on dining and travel, and 1% on everything else. One of the main reasons you may
be watching this video today is that you already have
the Walmart Credit Card, and you want to know if
you'll be earning 5% back on your store purchases, for the first 12 months if you are already a current card holder. And the answer to that is yes. I know this is important
to many of you today. I wanted to clear that up before I talk about the
other features and benefits, of having this credit card. Now, you're probably gonna be thinking whether this card makes sense for you, and we can start off saying that this card does
not have an annual fee, so that's a plus right away. And also, just like with
any Capital One credit card, there are no foreign
transaction fees being charged. So, you can take this credit card overseas and not incur a two or
3% for a transaction fee.
So, earning and redeeming these rewards is fairly straightforward, and you have different
options on how you can do it. I'm showing you right here. So, applying for the new
Capital One Walmart credit card or Master Card is just as
easy as it has been before. You have the option of
either visiting a store, applying there, or you can visit Walmart.com
and apply online. I do have a review article where I list the pros and cons
of the Walmart credit card issued by Capital One. And if you are interested in applying, I will have the application link at the bottom of that article. And you can find the link for this article in the description below this video.
The other thing I do not like
about this reward program is that in store purchases
you will only earn 5% the first 12 months of having this card, and this is different with
how it is with Target. Target always allows you to earn 5% back on all your purchases. So, what I'm going to
do with this video is I will be sending it off to the corporate headquarters of Walmart.
And if you want this to
be a permanent feature of the rewards program with this new Capital
One Walmart credit card, leave your feelings known in
the comments below this video, and I will make sure that they see it. One other thing you
need to know about this is that Capital One and Walmart have signaled that the
approval process for this card will probably be harder than
it has been in the past. And I did do a review video. The last video I did was the top 10 easiest store credit
cards to get approved for, and I included Walmart in this review.
Now things have changed a little bit. My guess is that the Walmart store card should be still fairly
easy to get approved for, while the Capital One Walmart master card might be more difficult. If you have already applied
for this credit card, either the store card or the Master Card, just leave a comment below whether you were able
to get approved or not. People would like to be able to have a sense of what
their chances would be like, if they were to apply
for this credit card. Like I said, I'm guessing that the store card will probably be fairly
easy to get approved for, but the Capital One Master Card might be a little bit harder to get.
Again, if you know better than I do, leave a comment below. For myself, I do have the Target Red Card, and I did a review video on the features of the Target Red Card. But, I do not have the
Walmart credit card, and I don't plan to apply for it. And the reason is, is that I already have two
Capital One credit cards. The Quick Silver card and the
Capital One BuyPower card. And because of that, I'm only limited to three
Capital One credit cards, and if I get one more, then I won't be able to
apply for anything else. I have been thinking of applying for the Capital One Savor card, since I enjoy going to restaurants. But, I still haven't even decided whether I'm going to do that. So, I'm bringing this
all up to let you know that Capital One as a policy, has a limit on the amount
of cards that you can have, and that is three. And for my understanding as well, if you have one of their business cards, that would not account for that three, so you can technically have
three Capital One cards and a business card.
Now, with this whole
change over with Walmart, my guess is that if you already have three Capital One personal accounts, and now with this transition
you will have four, I don't see why they
would cancel your card. That would not make any sense. Why wouldn't they want a good customer if you have a card in good standing, they're gonna want to keep that customer. So, technically now I
believe that it is possible for people to have four
Capital One credit cards, for personal accounts, but if you already have two, take some careful consideration whether or not you want to
add the Walmart credit card to your wallet. They may make an exemption, they might make a rule that
it won't count for the three. But, as far as right now, because this card is so new, right now as far as everyone knows you are limited still to
three personal accounts.
So, take that into consideration. So, the question now becomes which is the better store card to have. Either the Walmart credit card, or the Target Red Card. And it's just a simple answer to that. Where do you shop? Which store do you shop at the most, and if you shop equally, then maybe both cards would
be great for you to have. But, generally speaking if
you don't go there that much, and I'm not a big Walmart shopper. Yes, I do go there, but I am more likely to shop at Target, and I do like the fairly easy, straightforward reward program. And you do get that 5%
discount on everything. I like the fact that it's
just a straight discount off your purchases, even if I get something for 75% off, I get an additional 5%.
I just like the ease of it. But, there is advantages
to the Walmart Master Card, because you can earn 2%
rewards on dining and travel. If you have the Target Master Card, which I do, I don't get anything for anything. Nothing, zilch, zero. And I don't know this exactly but I'm assuming I would pay
a foreign transaction fee, maybe I won't. But, with Capital One
you're always paying zero for transaction fees, so that's one of the reasons I like having the Capital One credit card. So, the credit shifu also did a review on the new Walmart cards from Capital One. I have not watched it, and I don't. Only for the fact that I don't want it to influence the review that I do, and that you don't see a
carbon copy of the same review. You never know when you
can be slightly influenced by something you see.
So, I will watch it after
I upload this video, but it is another take
on the new Walmart card, and he is a well known
YouTuber on credit cards. So, if you're looking
for more information, you should check out the
credit shifu in his review on the new Walmart credit card. Okay, also remember to leave a comment if you are happy with the
new rewards program or not, or if you want the 5% in store reward rate for the new Capital One
Walmart credit card to remain. If you do, please leave a comment below. So, if you found this video helpful today, and you want to see more of them, please hit that Like button and the Subscribe button as well with the bell notification. And whenever I upload a new video, you will be notified. Thank you so much, and have a good day.