What is the best MasterCard to use at Walmart?
Posted June 15, 2016 - updated June 20, 2016 in News, Reviews
Walmart Canada announced over the weekend that starting July 18th, their stores across Canada will no longer accept Visa cards. Some experts suggest this move is a way to force Visa to lower the fees charged to Walmart for purchases made with Visa cards.
If no deal is reached, it might make sense for Walmart shoppers to switch to a MasterCard to take advantage of credit card benefits versus other payment methods. Here are some options to consider:
1. Tangerine Money-Back Credit Card
The Tangerine Money-Back Credit Card is unlike any credit card currently available on the market. The most notable feature is the ability to select 2 specific spending categories that allow you to earn double cash back.
- Earn 2% Money-Back Rewards on your everyday purchases in two 2% Money-Back Categories of your choice, and 0.50% Money-Back Rewards on all your other everyday purchases.
- No annual fee
- Money-Back Rewards are earned automatically on everyday purchases and paid monthly. These can be applied to your Credit Card balance or redeemed into your Savings Account.
- Full credit card details
2. MBNA Rewards MasterCard
For those seeking a points based card we recommend the MBNA Rewards MasterCard. It’s comes with no annual fee and offers a wide variety of point redemption options including cash back, merchandise, gift cards, travel and more.
- Earn 4 points†† for every $1 spent on eligible restaurant, grocery, digital media, membership and household utility purchases during the first 90 days, and 2 points‡ for every $1 spent on eligible purchases in those categories thereafter – in both cases, these earn rates apply until $10,000 is spent annually in the applicable category. 1 point‡ for every $1 spent on all other eligible purchases
- 5,000 bonus points†† ($25 in cash back value) after you make $500 or more in eligible purchases within the first 90 days of your account opening
- 5,000 bonus points††($25 in cash back value) once enrolled for paperless e-statements within the first 90 days of account opening
- Full credit card details
3. Scotiabank American Express Card
For Scotiabank banking customers, you’re probably carrying a Visa card in your wallet. For those who would like to keep a credit card account with Scotiabank you might consider the Scotiabank American Express Card. The rewards are travel focused, but other redemption options are available.
4. Walmart Rewards MasterCard
Some people believe Walmart dropping Visa is a way to push consumers towards their own MasterCard. Walmart Canada runs it’s own bank, so that is certainly a possibility. The card is only available in store.
5. MBNA True Line Mastercard
If you carry a monthly balance, it makes sense to get a card with a low interest rate. This card offers a low rate on purchases and balance transfers, so it’s a great option for those looking to reduce interest charges or to pay off a balance. There’s no rewards with this card, but that’s the trade off for getting such a low rate.
- No annual fee
- Standard Annual Interest Rates of 12.99% on eligible purchases, 17.99% on balance transfers✪, and 24.99% on cash advances
- You could get a 0% promotional annual interest rate (“AIR”)† for 12 months on balance transfers✪ completed within 90 days of account opening, with a 3% transfer fee.
- Full credit card details
Photo credit: Mike Mozart via Flickr
