Wal-Mart credit cards
In Canada, Walmart
features two types of credit card products
: Walmart MasterCard and Walmart Discover. The second type comes with more benefits, including zero fraud liability, no annual fee, cash advances at the time of purchase, savings of 3 cents per gallon at Walmart gas stations in the United States, acceptance at locations displaying the Discover Network Acceptance Mark, and up to 1 percent cash back on purchases. The Walmart MasterCard goes with all features but for the last two benefits.
This financial product is intended for individuals who shop at Walmart locations on a regular basis. The MasterCard goes with a standard interest rate of 23.99 percent and preferred rate of 18.99 percent. The latter applies whenever card holders make at least the minimum payment before or on the due date. If you are late with the minimum payment for two billing periods within a twelve month period, the standard rate is applicable. The grace period is 21 or more days, and the minimum payment stands at 3 percent of the balance or $10, whichever is greater, plus any amount by which the balance is in excess of the credit limit. Additional fees include credit balance inactivity fee equal to the credit balance or $10, whichever is less, dishonored payment fee of $20, over the credit limit fee of $10, rush replacement card fee of $25, and cash advance fee of $2.
All Canadian residents, except for customers living in Quebec, who are of legal age and have an annual income of at least $12,000, are likely applicants for the Walmart MasterCard. As with most other credit cards, clients should not have filed for bankruptcy during the past seven years. To apply for a Walmart credit card, customers should provide their personal information, contact details, social security number and date of birth, driverís license, and annual income from all sources. Separate maintenance income, child support, and alimony are to be included in the total income. Customers who open a credit card
now and spent $100, get a rebate of $20.
Walmart Discover Card
Apart from the many included features, this credit card goes with an interest rate of 13.90, 19.90, or 22.90 percent for balance transfers and purchases, based on oneís credit history and other factors. The interest rate on cash advances is 16.90, 22.90, or 25.90, again depending on oneís creditworthiness. Interest is not charged on purchases if the entire balance is paid in full by the due date every month. For balance transfers, there is a transaction fee of $5 or 3 percent of the transfer amount, whichever is greater. The same applies to cash advances. Card holders are eligible to get rebates as a percentage of every purchase according to the following scheme. Amounts of up to $1500 receive a reward percentage of 0.25 percent, those between $1,500.01 and $3000 get 0.5 percent, and purchases over $3000 are eligible for 1 percent rebate. The Walmart Discover Card comes with additional beneficial features such as online account services. Card holders can pay their bills online, enroll in paperless statements, manage their personal information, view account activity and statements, set phone and email alerts, and request credit limit increases. Using the online service offered by Walmart is convenient, secure, and free.
Wal-Mart credit card reviews
and credit card application details.