Walmart and other retail and department stores in Canada offer credit cards with rewards programs and bonus points, gift certificates, and other perks and incentives. There are many benefits to using a department store card, and one is that holders save on big-ticket items and one-time purchases. Another benefit is that department stores offer coupons and discounts to customers.
Walmart Credit Cards and Rewards Programs
Customers enjoy generous savings, free supplementary cards, and no annual fee. Rewards points can be redeemed at cash registers and never expire. Holders receive a bonus of $25 when they sign in and make $75 in purchases. There are two options to consider. One is to choose a card with no annual fee, cash advances, gas savings, and 1 percent cash back. Alternatively, customers can get a credit card from Walmart with no annual fee and discounts at participating gas stations. In addition to individual solutions, Walmart offers business credit cards that are custom made and offer business discounts. They come with added benefits and perks and can be used for appointment or place cards, event tickets, gifts, etc. The credit cards offered by Walmart allow holders to pay bills online and check their FICO scores online. There is an option to set up account alerts as well. Customers also enjoy special offers and insurance covers such as pet, property, and auto insurance. It is easy to apply for a card online. Applicants are asked whether they apply on behalf of a government agency, religious organization, or non-for-profit organization. They must specify whether purchase orders are required as well. Customers fill in information such as their tax exempt number, street address, and their company or organization's legal name.
Walmart Rewards MasterCard
The rewards card by MasterCard offers $15 in bonus points to new customers. Holders who opt for electronic statements also get $10 in rewards. They earn 1 percent on regular purchases and 1.25 percent at Walmart stores. The minimum redemption value is $5. It is easy to calculate your rewards. For example, if you spend $1,000 on purchases in participating stores, you get $222 in rewards. You will get $297 in rewards for every $1,500 spent on purchases. What is more, customers are offered the option to redeem in increments. The good news is that there is no expiration date. Additional benefits include recurring bill payments, pre-authorized payment plans, and convenience checks. The Walmart credit card in Canada comes with a standard rate of 25.99 percent and a preferred rate of 19.89 percent. The minimum grace period is 21 days. Customers are charged over the limit and cash advance fees, but there is no annual fee. Extended warranty is offered but only to holders who live in Canada.
Other Department Store Cards
There are other options for consumers who are looking for department store cards. Issuers offer cards with travel rewards, cash back, no processing or application fees, and other beneficial features. Holders earn bonus points on utility and grocery purchases, gas, and more. Sears, HBC, Home Depot, and other issuers offer department store cards by American Express and MasterCard.
Sears Cards and Special Financing Offers
Sears, for example, features different credit cards with exclusive benefits, coupons, online bill payment options, and other features. Holders can inquire about their last payment due and payment amount, available credit, and account balance by phone. Sears also features special offers, coupons, and member savings. Sears MasterCard features special financing offers and sales events, no annual fee, and other benefits. Holders are offered additional cards free-of-charge and are allowed to add additional cardholders. Sears features monthly savings, access to more than 1,000 brand names, exclusive deals, and large home improvement purchases. Temporary shopping passes are also offered as well as advanced notice of sales events. Applicants are asked to provide personal and financial information such as their monthly rent or mortgage payment, additional income, and wages or annual salary.
Other Cards to Choose from
Retailers such as Costco and Talbots also offer cards to customers. Some issuers offer zero introductory interest rates during the first 6 or 12 months. The interest rate varies greatly from one card to another and can be as high as 28.99 percent. Other issuers advertise a low interest rate of 10.9 percent. Some cards feature rewards points, no annual fee, special financing plans, deferred interest, and added benefits. Secured credit cards are also offered.
Beneficial Features and Downsides
Department store cards are one option for borrowers with poor credit who are looking for ways to rebuild their credit history. In addition to special sales, holders are offered rewards points to spend at participating stores. Cards offered by American Express and Visa offer additional benefits. On the downside, issuers offer higher interest rates that make borrowing more expensive. The interest rate is usually around 20 percent or higher.