Capital One cardholders, listen up: Big changes have been announced for both the Capital One Walmart Rewards® MasterCard and the Capital One Saver Cash Rewards credit card.
Saver applications have been closed, but current cardholders will keep their cards for now. Meanwhile, the Walmart Card has been completely discontinued and existing cardholders are being transferred to the Capital One Quiksilver Cash Rewards Credit Card.
Here’s what you need to know.
Information for Capital One Walmart Rewards and Saver Cash Rewards is independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Capital One Saver: Apps off
Starting July 16, Capital One will no longer accept new applications for its Saver Cash Rewards credit card. Existing cardholders can continue as usual, enjoying the same benefits and earning rates at the same $95 annual fee.
If you’re an existing cardholder who wants a refresher on what this card offers you — or a non-cardholder who wants to see what you’ve been missing — check out our Full review of Capital One Saver Cash Rewards.
If you’re considering applying for a saver card, the good news is that its no-annual-fee sibling, the Capital One SaverOne Cash Rewards Credit Card (see rates and fees), has a solid earning rate in the same bonus category as the Saver. And still open to new applicants. You can also check out our list of all the best cash-back cards on the market right now for some other great options.
Related: Capital One Saver Vs. Capital One Severone
Capital One Walmart Card: Closed
Meanwhile, both of Capital One’s Walmart card offerings — the Capital One Walmart Rewards MasterCard, as well as a “closed-loop” Walmart Rewards card that was usable only with the retailer — have been discontinued. Capital One’s partnership with Walmart was announced in May, but this is the first we’ve heard about the future of the two cards.
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Existing cardholders of both cards will be transitioned to Capital One Quicksilver Cash Rewards Credit Card — even if they already have that card. According to Capital One’s website, eligible cardholders will receive their new card on a rolling basis beginning in September and continuing through early 2025. Walmart cardholders may continue to use their Walmart credit cards until further notice.
The issuer says customers will keep any rewards earned with the Walmart card. Points will transfer to Quiksilver cards at a cost of one cent per point.
If you have one of these Walmart cards, you can check out what you’re getting with your next Quiksilver card here.
Information for Walmart Rewards is independently collected by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Bottom line
Changes like this aren’t uncommon in the credit card world, especially when partnerships like Capital One and Walmart end. However, if you’re affected by any of these changes, you’ll want to evaluate your card and decide if it still makes sense for your wallet.
If you decide you want to make the switch, you can read more about all of our favorite Capital One offerings here
RELATED: Our Complete Guide to the Capital One Mile