Walmart MoneyCard review
Are you looking for a comprehensive Walmart MoneyCard review? We’ve got you covered. Here, we’ll cover everything from fees and features to how to use it and where to buy it.
Walmart MoneyCard: Earn 3% cash back at Walmart.com!
Are you a frequent Walmart shopper? Great, then we’ve got the perfect card for you. In this Walmart MoneyCard review, you’ll learn why having this prepaid debit card in your wallet can be beneficial for your expenses.
The card offers cash back rewards on Walmart purchases, overdraft protection and a host of other benefits that make it worthwhile.
You can apply regardless of your credit score and get amazing deals on savings.
- Credit Score: All credit types are welcome to apply.
- APR: There’s no APR since it’s a debit card.
- Annual Fee: No annual fee, but there’s a $5.94 monthly fee which you can waive by making $500+ deposits in the previous monthly statement period.
- Fees: $1 card purchase fee, $3 cash deposit fee at Walmart registers ($5.95 at other locations). Plus, $2.50 for ATM and teller cash withdrawal, $15 overdraft fee, $0.5 ATM balance inquiry, 3% foreign transaction fee, $5.95 for paper checks and $3 for card replacement.
- Welcome bonus: There is no current offer.
- Rewards: 3% cash back at Walmart.com, 2% back at Walmart fuel stations and 1% back at Walmart stores up to $75 a year.
The card offers a 2% APY and frequent chances to win cash prizes every month. You can add up to 4 accounts for family members over the age of 13 and access to your benefits with Early Direct Deposit.
Although this is a store branded card, you can still use it to make purchases anywhere Visa or Mastercard is accepted. To learn more about the benefits of this card, keep reading our Walmart MoneyCard review.
Walmart MoneyCard: how does it work?
Issued by Green Dot Bank, Member FDIC, the Walmart MoneyCard is a reloadable prepaid debit card.
That means you need to create an account and fund it to use it on purchases. The maximum amount you can load into the card is $2,999 per statement period.
The Walmart MoneyCard has a $5.94 monthly fee which you can waive by making a $500+ deposit into your account in the previous monthly statement period.
The cash deposit fee is also withdrawn if you use your Walmart app to add the amount to your card.
With this card, you’ll get 3% back on your spending at Walmart’s official website, 2% back at Walmart gas stations and 1% back when you shop in person at their stores for up to $75 a year.
You can redeem those rewards and use it however you’d like as long as your account has been active for 12 months and has a positive balance.
The Walmart MoneyCard offers a 2% APY on your savings up to a $1,000 balance. You can also get an overdraft protection up to $200, for purchase transactions and eligible direct deposit.
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Significant benefits and disadvantages you may find
While there are plenty of benefits to Walmart shoppers, this card also has a couple of drawbacks that may impact your decision before signing up.
Check the highlights and lowlights next in our Walmart MoneyCard review.
- You can earn cash back rewards at Walmart purchases;
- You can waive its monthly fees with a $500+ deposit;
- There’s a good APY rating on savings;
- You can get overdraft protection.
- The card charges quite a lot of fees;
- The spending caps on cash back rewards is pretty low.
Is a good credit score required for applicants?
No. Since the Walmart MoneyCard is a prepaid debit card, you can apply for it regardless of your current credit rating.
Learn how to apply and get a Walmart MoneyCard
If after reading this Walmart MoneyCard review you want to get the card, we can help. Applying for it is easy and you can activate your account online. Check the following link to learn more details about it.
About the author / Aline Barbosa
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