Looking for the best Walmart credit card in Canada? You’ve got this.

 

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CIBC Select Visa* Card

Annual fee $29 First-year annual fee rebate
Rewards rate N/A
Bonus offer 0% Interest rate on balance transfers (up to 10 statements†)
Purchase interest rate 13.99%
Balance transfer interest rate 0% 13.99% after 10 statements†
Cash advance interest rate 13.99%

MBNA True Line® Mastercard®

This offer is not available for residents of Quebec.

Annual fee $0
Rewards rate N/A
Bonus offer 0% Promotional interest rate on balance transfers (first 12 months)
Purchase interest rate 12.99%
Balance transfer interest rate 0% 12.99% after 12 months
Cash advance interest rate 24.99%

HSBC +Rewards™ Mastercard®

This offer is not available to residents of Quebec. For residents of Quebec, please click here.

Annual fee $25 First-year annual fee rebate
Rewards rate 2 Points per $1 spent on eligible dining and entertainment purchases
Bonus offer 20,000 HSBC Rewards Points (up to $100 in value)
Purchase interest rate 11.90%
Balance transfer interest rate 11.90%
Cash advance interest rate 11.90%

Tangerine Money-Back Credit Card

This offer is not available for residents of Quebec.

Annual fee $0
Rewards rate 10% Cash back on everyday purchases for a limited time
Bonus offer 1.95% Interest rate on balance transfers (first 6 months)
Purchase interest rate 19.95%
Balance transfer interest rate 1.95% 19.95% after 6 months
Cash advance interest rate 19.95%

TD® Aeroplan® Visa Infinite* Card

This offer is not available for residents of Quebec.

Annual fee $139 First year annual fee rebate
Rewards rate 1.5 Aeroplan Points for every $1 spent on eligible purchases
Bonus offer 20,000 Bonus Aeroplan Points. Conditions Apply. Must apply by August 16, 2021.
Purchase interest rate 19.99%
Balance transfer interest rate 22.99%
Cash advance interest rate 22.99%

The Walmart advantage.

Walmart is one of Canada’s biggest retailers — more than a million customers visit the 317 retail outlets it operates nationwide. When the company launched Walmart Canada Bank, a subsidiary of Wal-Mart Canada Corp., the multinational’s goal was to bring Canadians financial products and services that help them save money. And it’s done just that. Walmart has only one card on offer right now through its partnership with Mastercard, and it’s aimed at low-income families or individuals.

Here’s what you get when you choose Walmart for your credit card needs.

Low-barrier to entry

It’s relatively easy to qualify for a no-fee Walmart credit card; you only need a household income of $12,000.

A rewards system that’s easy to understand

Unlike other rewards programs, Walmart’s is refreshingly straightforward. It doesn’t operate on a points system. Instead, rewards are earned in dollar equivalents, so it's easy to see how much you’ve earned. However, you can’t redeem your rewards for cold, hard cash — it can only be used for purchases made at Walmart. You can begin redeeming once you’ve earned a minimum of $5. Plus, your balance never expires.

Walmart has you covered

One benefit offered by Walmart that piqued our interest is its Balance Protection Plan. For about $0.95 per $100 balance, this optional insurance plan will pay 5% of your account balance if you suddenly become unable to. Some scenarios that qualify include job loss (the self-employed are excluded), illness, disability, and death.

A few other extras

Each card is enabled with Tap & Go technology and supplementary cards are free. If you’re still in the habit of using cheques, Walmart will hook you up with personalized convenience cheques at no cost.

About Walmart Financial

The first Walmart store opened in 1962 in small-town Arkansas. By 1994, the now-multinational corporation had just expanded into Canada, following the purchase of 122 Woolco stores. Sixteen years later, Walmart shook things up once again by becoming a Canadian credit lender. The multinational corporation is known for competing with other retailers on price. With the roll-out of its first no-fee credit Mastercard, the mega-retailer seems determined to take on other lenders with its own competitive offering.

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