Walmart credit cards, see www.walmartcreditcard.com come in two varieties. The first Walmart credit card bears the Discover logo and can be used at Walmart as well as every other location where Discover is accepted. The second Walmart card is a store credit card. Unlike the Discover Walmart credit card, the second Walmart card can only be used in Walmart stores.
The Wal-Mart Discover card offers three interest rate levels ranging between 12.37% and 21.37%. Unlike other Discover credit cards, this credit card does not offer a 0% interest rate on purchases or balance transfers. Currently, many Discover credit cards offer 0% interest rates for 1 year.
Like other Discover credit cards, the Wal-Mart Discover card offers cashback rewards. Everytime you use your card, you receive up to 1% cashback. When you spend more than $3,000 during a year, you begin to receive a full 1% cashback on all purchases. This is similar to most Discover credit cards, with the exception of the Discover Gas card, which offers 5% cashback. A less traditional element of the Wal-Mart Discover card is the security interest clause. According to the terms and conditions, "Except in CT, GA (on purchases of clothing, softwares, and other non-durable items), MO (on any merchandise under $150), NC, NY (on any merchandise under $200), and PR, you grant us a purchase money security interest in each item of merchandise purchased on your Account to secure its unpaid purchase price until such merchandise is paid in full." Essentially, this means you don't own your purchases until paid in full. The store use only Wal-Mart credit card differs from the Wal-Mart Discover card substantially. It can only be used at Wal-Mart, it does not have a cashback rewards program, and its APR range is slightly higher, with three interest rate levels ranging from 12.37% to 22.37% Like the Wal-Mart Discover card, this credit card also has a security interest clause. For more information visit www.walmartcreditcard.com. |
