Walmart ends exclusive card agreement with Capital One
Walmart has declared that Capital One will cease to be the sole issuer for its credit card program. Future arrangements of the program remain unspecified. Walmart has made an announcement stating the cessation of its exclusive credit card issuance agreement with Capital One. The specifics about the credit card program’s future setups haven’t been disclosed yet. Walmart has announced that its exclusive credit card issuing agreement with Capital One is being discontinued. The future plans for the credit card program aren’t specified yet. The announcement signifies the termination of Capital One’s role as the sole issuer, leaving the future approach to this program undisclosed so far.
Walmart announced that Capital One will no longer be the exclusive credit card issuer of its rewards program.
The card, which had no annual fee, had been offered since 2019. While it offered 2% for in-store purchases, it mostly pushed delivery and pick-up orders with a 5% return on those purchases. However, credit card service will continue to be offered by Capital One.
“While Capital One and Walmart have ended their card partnership, nothing changes today for cardholders – cardholders can continue to earn and redeem rewards, and previously accrued rewards will retain their value,” the companies explained in a joint statement. “Until informed otherwise, cardholders can also continue to use their Capital One Walmart Rewards® Card wherever Mastercard is accepted and the Walmart Rewards® Card for purchases at Walmart.”
On its website, Walmart is still offering the option for users to become pre-approved for the card. The Washington Examiner reached out to Walmart for comment.
CLICK HERE TO READ MORE FROM THE WASHINGTON EXAMINER
Walmart still offers a debit card option with One, which also provides cash-back rewards.
The news comes after U.S. District Judge Katherine Polk Failla in Manhattan ruled on a lawsuit Walmart filed against Capital One regarding the partnership. According to the retailer, Capital One was slow to post transactions to users’ accounts and also to replace lost and stolen cards. Failla ruled in Walmart’s favor, allowing Walmart to end the contract earlier due to “repeated customer service failures.”
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
