The Walmart cash rewards credit cards in Canada are no-annual-fee Mastercards that earn reward dollars on purchases. The primary cards are the Walmart Rewards Mastercard and the Walmart Rewards World Mastercard, both issued by Fairstone Bank of Canada, which earn 3% in Walmart Reward Dollars on eligible Walmart purchases and 1% on all other purchases. These reward dollars do not expire and can be redeemed for future Walmart purchases. For Canadian shoppers who frequently shop at Walmart, these cards offer a straightforward way to earn rewards on everyday spending.
Card Features and Reward Structure
The Walmart Rewards Mastercard and Walmart Rewards World Mastercard share an identical core reward structure. Cardholders earn three percent in Walmart Reward Dollars on eligible purchases made at Walmart retail locations in Canada, online at Walmart.ca, and on Walmart Marketplace purchases. All other purchases made anywhere Mastercard is accepted earn a flat rate of one percent in Walmart Reward Dollars. These reward dollars are accrued as you spend and are held in your rewards account. The reward dollars have no expiration date, allowing cardholders to save them indefinitely for larger redemptions. Both cards carry no annual fee, which helps preserve the value of the rewards earned. The cards are accepted anywhere Mastercard is accepted globally, providing utility beyond Walmart stores. The welcome bonus for new cardholders, as of the 2025 program enhancement, is $25 in Reward Dollars upon approval. Existing cardholders were automatically upgraded to these enhanced benefits, including the higher earn rate, in September 2025. The program also provides up to six months free of Delivery Pass with the purchase of an annual Delivery Pass subscription, adding further value for online shoppers.
Eligibility and Application Process
To apply for a Walmart Rewards Mastercard, you must be a resident of Canada and meet the standard creditworthiness criteria set by the issuer, Fairstone Bank of Canada. There is no specific minimum income threshold publicly stated, but your credit history and score will be evaluated during the application. Applications can be submitted online through the official Walmart Rewards website or potentially in select Walmart retail locations. The application will require personal information such as your name, address, date of birth, Social Insurance Number, and annual income. Upon submission, Fairstone Bank will perform a credit check, which may impact your credit score. Approval is not guaranteed and is based on the bank's assessment of your credit profile. If approved, you will receive your physical card by mail, and existing cardholders were automatically upgraded to the enhanced benefits in 2025. It is important to review all terms and conditions provided during the application process to understand the specific rates and fees that will apply to your account.
Redeeming Your Walmart Reward Dollars
Walmart Reward Dollars are redeemed directly at the point of purchase at Walmart, either in-store or online. When shopping online at Walmart.ca, you will have the option to apply your available Reward Dollars balance towards your cart total during the checkout process. For in-store purchases, you can redeem rewards at the payment terminal when you use your Walmart Rewards Mastercard to pay. The redemption is typically automatic, applying your accumulated rewards to reduce your purchase total. There is no minimum redemption threshold required, so you can use any amount of your reward balance. The rewards are applied as a dollar-for-dollar discount on your purchase. Since the rewards never expire, you have complete flexibility in deciding when to use them. It is important to keep track of your rewards balance through your online account or monthly statements to plan your redemptions. The program is designed for simplicity, aligning with Walmart's goal of helping customers save money on everyday purchases.
Optional Protection Plans and Services
Walmart Financial, a division of Walmart Canada Corp, offers several optional protection plans for cardholders. The Balance Protection Plan can cover minimum payments if you become unemployed through no fault of your own, become disabled, or are hospitalized. It can also pay off your entire balance in the case of a critical illness like a stroke, heart attack, or cancer, or upon the death of you or your spouse. This coverage costs approximately $0.85 per $100 of your monthly statement balance, plus taxes, in any month you carry a balance of $25 or more. The Extended Warranty Plan extends the manufacturer's warranty on eligible purchases made with the card by up to two additional years. This plan costs $3.99 per month, plus applicable taxes, in months you carry a balance of $25 or more. Walmart Financial also provides a Product Protection Plan for in-store and online purchases, which can replace a failed or damaged product for one to two years, covering items like computers and mobile phones. Furthermore, Walmart offers money transfer services in stores through a partnership with Western Union. These plans represent optional services that cardholders can choose to add for an additional layer of security on their purchases and account.
Program History and Provider Context
The Walmart Rewards Mastercard has been available in Canada for over 15 years, and by 2025 cardholders had redeemed over $600 million in value at Walmart. The program is a collaboration between Walmart Canada and Fairstone Bank of Canada, which is the issuer of the cards. Walmart Financial, which manages these credit products, is a division of Walmart Canada Corp, itself owned by Walmart Stores, Inc. Walmart Canada operates over 400 stores nationwide and serves 1.5 million customers daily, with its online store, Walmart.ca, receiving over 1.5 million visits per day. The 2025 enhancement of the card was part of a stated commitment to help Canadians save money amid rising costs. The redesign was based on customer feedback to provide more value with every purchase. This context shows the scale and longevity of the Walmart financial services offering in the Canadian market.
Comparing the OnePay Credit Card Program
Separate from the Fairstone-issued cards, Walmart also offers the OnePay Credit Card program in partnership with Synchrony Bank. This program includes two distinct card types. The CashRewards Card is a general-use Mastercard that earns OnePay Points, redeemable for cash back, while the Walmart Spend Card can only be used for purchases at Walmart. Application for the OnePay program may result in approval for either card based on your creditworthiness, and applications can be made online at Walmart.com, through the Walmart app, or in Walmart stores. Synchrony Bank handles all aspects of the OnePay program, including application review, approvals, account servicing, and customer support. The key reward rates for the OnePay CashRewards Card differ from the Fairstone cards, offering 5% back at Walmart with a linked Walmart+ membership, 3% back at Walmart without the membership, and 1.5% back everywhere else Mastercard is accepted. Like the Fairstone cards, the OnePay cards have no annual fee, but they are issued by a different bank and have a rewards structure based on points redeemable for cash back rather than direct in-store discounts. This table outlines the primary differences between the two main card families available to Canadian consumers.
| Feature | Walmart Rewards Mastercard (Fairstone) | OnePay CashRewards Card (Synchrony) |
|---|---|---|
| Issuing Bank | Fairstone Bank of Canada | Synchrony Bank |
| Walmart Rewards Rate | 3% (Walmart Reward Dollars) | 3% or 5% with Walmart+ (OnePay Points) |
| Other Purchases Rate | 1% | 1.5% |
| Reward Redemption | Direct discount at Walmart checkout | Cash back to a deposit account |
| Card Usage | Anywhere Mastercard is accepted | Anywhere Mastercard is accepted |
| Program Launch | Over 15 years ago (enhanced 2025) | New product, not associated with old cards |
Consumers should review the specific terms for each program as they are separate financial products with different issuers and reward systems. The Walmart Rewards Mastercard is issued by Fairstone Bank of Canada. The OnePay credit card program is a newer offering issued by Synchrony Bank and is not associated with any previous Walmart credit cards. The OnePay program provides an alternative rewards model for shoppers to consider with its own benefits.
Common Considerations and Potential Fees
While the Walmart Rewards Mastercards have no annual fee, other potential costs can apply based on account activity. If you carry a balance, you will be charged interest on purchases, with the purchase annual percentage rate being variable and based on the Prime Rate plus a fixed amount determined at application. A late payment fee will be charged if the minimum payment is not received by the due date, and the exact amounts for interest rates and late fees are detailed in the cardholder agreement provided upon account opening. For the optional protection plans, the monthly costs are only charged in months where you carry a balance of $25 or more on your statement, and there is no foreign transaction fee for purchases made in a foreign currency, though the amount will be converted to Canadian dollars using the Mastercard exchange rate at the time of processing. To avoid interest charges, you must pay your full statement balance by the due date each month, which is a standard interest grace policy, and regularly reviewing your statements helps you manage these potential costs and maximize your rewards. It is also worth noting that the OnePay cards from Synchrony also have no annual fee and follow a similar grace period policy for interest, providing consistency across Walmart's credit offerings on this basic feature.
Key Details for Cardholders
Cardholders should be aware of several specific operational details to effectively manage their Walmart Rewards Mastercard. The card can be used for payments on Walmart.ca alongside other accepted methods like Mastercard and Walmart Canada Gift Cards. The rewards are officially called Walmart Reward Dollars, and they are earned on eligible purchases charged to the card. The program is designed to be simple, with a consistent earn rate that does not require category activation or rotation. The following list outlines important features and rules that cardholders frequently need to know.
- Rewards Never Expire: Walmart Reward Dollars have no expiry date.
- No Annual Fee: Both the Walmart Rewards Mastercard and World Mastercard have a $0 annual fee.
- Welcome Bonus: A $25 Reward Dollars bonus is available for new cardholders (2025 offer).
- Delivery Pass Benefit: Up to six months free of Delivery Pass with an annual subscription purchase.
- Balance Protection Cost: Approximately $0.85 per $100 of monthly statement balance (plus taxes) when a balance of $25 or more is carried.
- Extended Warranty Cost: $3.99 per month (plus taxes) when a balance of $25 or more is carried.
- Interest Grace Period: No interest is charged if the full statement balance is paid by the due date each month.
- Foreign Transactions: No foreign transaction fee is charged on purchases in other currencies.
Understanding these details allows cardholders to use the card strategically to avoid unnecessary fees. This knowledge helps cardholders fully leverage the rewards and benefits offered by the program. For example, knowing the cash back rates helps maximize earnings. This practical knowledge is essential for maximizing the value of this financial tool for everyday Canadian shopping habits at Walmart.
Frequently asked questions
What is the difference between the Walmart Rewards Mastercard and the OnePay card?
The Walmart Rewards Mastercard is issued by Fairstone Bank of Canada and earns Walmart Reward Dollars. The OnePay program offers two cards, the CashRewards Card and the Walmart Spend Card, issued by Synchrony Bank. They are separate financial products with different issuers and reward systems. The OnePay program is not associated with any previous Walmart credit cards.
What optional protection plans are available?
Walmart Financial offers optional add-on plans for a monthly fee. The Balance Protection Plan covers payments during unemployment, disability, or hospitalization. The Extended Warranty Plan adds up to two years of warranty coverage. The Product Protection Plan offers replacement coverage for damaged items. These plans have monthly costs that apply only in months you carry a balance of $25 or more on your card.
What is the welcome bonus for the Walmart Rewards Mastercard?
New cardholders are eligible to receive a special welcome bonus of $25 in Reward Dollars for the Walmart Rewards Mastercard. This bonus was announced as part of the enhanced card launch in September 2025. The welcome offer is available to those who sign up for the card, which is issued by Fairstone Bank of Canada. This bonus is in addition to the card's ongoing rewards structure, which allows cardholders to earn Walmart Reward Dollars on their purchases. The specific terms and conditions for this welcome bonus are available for review on the program's official website.
Do Walmart Reward Dollars expire?
No, Walmart Reward Dollars earned on the Walmart Rewards Mastercard do not have an expiration date. Cardholders can earn unlimited Walmart Reward Dollars that never expire, allowing them to save their rewards on their own terms. This feature is part of the enhanced benefits of the Walmart Rewards Mastercard program. It provides flexibility for cardholders to accumulate rewards for future redemption at Walmart retail locations in Canada or online at Walmart.ca. This policy helps customers maximize the value they receive from their everyday purchases.
Can I use my Walmart Rewards Mastercard anywhere?
Yes, the Walmart Rewards Mastercard can be used anywhere Mastercard is accepted as a payment method. For purchases made at Walmart retail locations in Canada and online at Walmart.ca, including Marketplace, cardholders earn 3 percent in Walmart Reward Dollars. On all other purchases made everywhere else Mastercard is accepted, cardholders earn 1 percent in Walmart Reward Dollars. The card is a no annual fee credit card issued by Fairstone Bank of Canada. This makes it a versatile payment tool for both Walmart shopping and general use.
Are there any annual fees for Walmart credit cards?
The Walmart Rewards Mastercard and the Walmart Rewards World Mastercard have no annual fee. Similarly, the OnePay CashRewards Card and the Walmart Spend Card, which are offered in partnership with Synchrony Bank, also have no annual fee. This makes all these Walmart affiliated credit cards no annual fee credit cards. The absence of an annual fee is a key feature that helps cardholders keep costs low while earning rewards. These cards are designed to provide value through their rewards programs without the burden of a yearly charge.
Sources and further reading
- The best Walmart credit cards in Canada for 2026 ratehub.ca
- Big rewards just got bigger: Walmart Canada launches ... walmartcanada.ca
- About the OnePay Credit Card onepay.com
- Best Walmart Credit Cards in Canada, October 2026 milesopedia.com
This article explains how things work and is not financial, tax or legal advice. Rules, limits and rates change, so check the current figures with the Canada Revenue Agency, your province or your financial institution before you act.