The Walmart MoneyCard is a financial tool designed to simplify your spending and help you make the most of your purchases. This prepaid debit card offers features that cater to a wide range of needs, including cash back rewards, overdraft protection, and savings opportunities. Whether you’re managing daily expenses or looking for a secure and easy way to handle your finances, the MoneyCard provides an ideal solution.

As part of Walmart’s commitment to delivering value to its customers, the MoneyCard offers unique advantages tailored to frequent shoppers. From earning cash back to accessing funds earlier through direct deposit, this card combines practicality with savings potential. With its focus on convenience and flexibility, it is an excellent choice for individuals seeking a reliable and user-friendly card.

Key information about the credit card

How does the annual fee work?

One of the most attractive features of the Walmart MoneyCard is the absence of an annual fee. This benefit eliminates the need to worry about recurring charges while enjoying the card’s many features. By waiving an annual fee, Walmart ensures that customers can focus on maximizing their savings and rewards without additional costs. The lack of this fee aligns with the card’s mission to provide value, making it especially appealing to those who prioritize financial efficiency.

How is the credit limit determined?

The Walmart MoneyCard operates differently from traditional credit cards in terms of credit limits. Since it is a prepaid debit card, there is no predefined credit limit. Instead, the available balance is determined by the amount of money the user deposits onto the card. This system provides unparalleled control over spending, making it an ideal option for individuals who want to stick to a budget or avoid the risk of overspending.

Advantages of the credit card

• Cash back rewards: Earn up to $75 annually by shopping at Walmart. Cardholders receive 3% cash back on purchases made at Walmart.com, 2% at Walmart fuel stations, and 1% at Walmart stores. This feature ensures that everyday spending translates into meaningful savings over time.
• Overdraft protection: With up to $200 in overdraft protection available, the MoneyCard provides peace of mind for cardholders. This feature ensures that eligible transactions are covered, preventing declines and offering financial security in emergencies.
• Early direct deposit: Get your paycheck up to two days early and government benefits up to four days early. This ensures timely access to your funds, helping you manage your financial obligations more effectively.
• Savings account: Earn a 2% annual percentage yield (APY) on savings up to $1,000. This feature encourages users to save money while enjoying a competitive interest rate.
• No monthly fee: The $5.94 monthly fee can be waived if you load $500 or more through direct deposit in the previous billing cycle. This makes the card more affordable for regular users.
• Convenient management tools: The Walmart MoneyCard app allows users to track transactions, set up direct deposits, and manage their accounts effortlessly. Its user-friendly interface ensures an efficient and secure experience.

Standout advantage

The most notable advantage of the Walmart MoneyCard is its cash back rewards program. This feature allows users to earn rewards on their everyday spending at Walmart. With rates of 3% on Walmart.com, 2% at Walmart fuel stations, and 1% at Walmart stores, cardholders can accumulate savings that add up to $75 per year. The rewards are credited annually and can be redeemed through the website or app.

Disadvantages

• Rewards cap: The cash back rewards are limited to $75 annually, which may not meet the expectations of high spenders.
• Overdraft protection conditions: The overdraft protection feature is subject to eligibility requirements, which may not suit all users.
• Monthly fee: A $5.94 monthly fee applies if direct deposit conditions are not met, potentially making the card less appealing to occasional users.
• Savings interest cap: The 2% APY on savings applies only to balances up to $1,000, limiting the earning potential for users with higher savings goals.

A standout disadvantage

The primary disadvantage of the Walmart MoneyCard is the $75 cap on annual cash back rewards. While the rewards rates are competitive, this limitation may disappoint users who shop frequently at Walmart and could otherwise earn higher rewards. For those who prioritize cash back programs, the cap might diminish the overall value of the card, particularly when compared to other cards with higher or no limits on rewards.

Who can apply for this card?

The Walmart MoneyCard is available to individuals aged 18 or older. To apply, you must provide a valid Social Security Number (SSN) and complete an identity verification process online. This includes verifying your email or mobile phone to access the card’s full range of features. The card does not require a credit check, making it accessible to individuals with no credit history or poor credit scores. Since it is a prepaid debit card, there are no income requirements, and the approval process is straightforward and inclusive.

How to apply for the Walmart MoneyCard

For the website

To apply online, visit the official Walmart MoneyCard website. Start by clicking the “Open an Account” button and filling out the application form with your personal details, including your name, address, and Social Security Number. Once your identity is verified, you’ll receive instructions to activate your card and begin using it. The online application process is intuitive and guides you step by step, ensuring a smooth and hassle-free experience.

Through the app

Downloading the Walmart MoneyCard app is another convenient way to apply. Available on the App Store and Google Play, the app allows you to complete the entire application process on your smartphone. After installing the app, follow the prompts to create an account, verify your identity, and activate your card. The app also enables you to manage your account, track transactions, and set up features like direct deposit, making it a comprehensive tool for handling your MoneyCard.

At the branch

If you prefer to apply in person, you can purchase a starter card at any Walmart store. After buying the card, you’ll need to activate it online or through the app by providing your personal information and completing the identity verification process. Store staff can assist you with any questions about the card, making this method ideal for those who prefer a hands-on approach.