MCLEAN, Va. and BENTONVILLE, Ark., Sept. 18, 2019 /PRNewswire/ -- Capital One and Walmart are introducing the Capital One Walmart Rewards Credit Card Program, which launches with two new credit cards that reward customers for shopping at Walmart and on purchases they make everywhere the card is accepted.

The program's signature co-branded card, the Capital One Walmart Rewards Mastercard, and the private-label card exclusively for Walmart purchases, the Walmart Rewards Card, will be available beginning September 24.

Designed not only for Walmart purchases, but also to be the card of choice for all customers' needs, the Capital One Walmart Rewards Mastercard offers unlimited: 

• 5% back on purchases at Walmart.com, inclusive of Walmart Grocery Pickup and Delivery.
• 5% back on in-store purchases when using Walmart Pay for the first 12 months after approval as a special introductory offer.
• 2% back on Walmart purchases in stores outside of the introductory offer.
• 2% back on restaurants and travel.
• 1% percent back everywhere else.
• No annual fee and no foreign transaction fees.
• The ability to redeem rewards at any time for travel, gift cards, during online checkout at Walmart.com, for recent purchases, and statement credits.

The card also includes a variety of digital-first features that reimagine how customers interact with their credit card. While customers can apply for the card at Walmart.com, the Walmart app, or at CapitalOne.com, Walmart and Capital One have also created a mobile application experience. Applicants can text to apply from anywhere and complete their application from their personal mobile devices. Once applicants are approved and their identity is verified, they will receive immediate access to their card for Walmart purchases. If new cardholders sign up for Walmart Pay or already have an account, they can easily load their card into the Walmart app for use in-store and on Walmart.com—there is no need to wait for the card to arrive in the mail.

"Walmart's mission has always been to help customers save money so that they can live better, and our new credit card program—which both helps customers earn more when paying for things in and outside of Walmart, and offers many other incredible benefits—is squarely aligned with that mission," said Daniel Eckert, senior vice president, Walmart services and digital acceleration. "As our company has evolved to serve customers shopping in stores, online, and on the Walmart apps, we also recognized the need to fully digitally enable the cardholder experience; that's why we've worked with Capital One to make it possible for cardholders to manage essentially every interaction with the program right from the palm of their hands."

Cardholders can also take advantage of many digital tools from Capital One, including intelligent, real-time purchase notifications, security alerts, 0% fraud liability if the card is lost or stolen, and the ability to lock and unlock their card directly through the Capital One mobile app.

"We are using our technology expertise to transform the customer experience through a digital-first approach," said Daniel Mouadeb, senior vice president, head of Walmart partnership at Capital One. "We worked with Walmart to deliver a credit card program that offers meaningful rewards combined with simple, intuitive digital tools that help people get more from their money by rewarding them for the things they buy at Walmart and everywhere else they shop."

In addition to the Capital One Walmart Rewards Mastercard, Walmart and Capital One are offering the Walmart Rewards Card. These cardholders will earn the same 5% back on purchases made at Walmart.com and on the Walmart app; the 5% introductory offer for using Walmart Pay in stores for the first 12 months after approval and an unlimited 2% back on Walmart purchases in stores outside of the introductory offer; and 2% back at Walmart Fuel Stations.

Current Walmart cardholders will be converted to the Capital One Walmart Rewards Mastercard or the Walmart Rewards Card and will start earning these new rewards starting October 11, with updated cards arriving in the mail beginning in November. Current cardholders will also be eligible to earn 5% back when they use their card with Walmart's mobile payment solution, Walmart Pay, for in-store purchases through October 14, 2020.

While these two products launch today, Capital One and Walmart will continue to innovate and add new products and capabilities to the program over time.

For media assets, visit corporate.walmart.com/newsroom or capital.one/walmart

About Capital One 
Capital One Financial Corporation (capitalone.com) is a financial holding company whose subsidiaries, which include Capital One, N.A., and Capital One Bank (USA), N.A., had $254.5 billion in deposits and $373.6 billion in total assets as of June 30, 2019. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses, and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey, and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol "COF" and is included in the S&P 100 index.

About Walmart
Walmart Inc. (NYSE: WMT) helps people around the world save money and live better—anytime and anywhere—in retail stores, online, and through their mobile devices. Each week, nearly 275 million customers and members visit our more than 11,300 stores under 58 banners in 27 countries and eCommerce websites. With fiscal year 2019 revenue of $514.4 billion, Walmart employs over 2.2 million associates worldwide. Walmart continues to be a leader in sustainability, corporate philanthropy and employment opportunity. Additional information about Walmart can be found by visiting corporate.walmart.com, on Facebook at facebook.com/Walmart, and on Twitter at twitter.com/walmart.

SOURCE Capital One