Do you want to know how to apply for the Walmart Credit Card? Discover all the necessary steps and how to get approved in this article.
Walmart, one of the largest multinational companies in the world, operates in over 20 countries and has around 10,000 stores offering a wide range of quality products.
That's why this family corporation has launched its credit card, designed for customers to purchase online and enjoy discounts and benefits at its various branches. Below, we will provide you with the following information:
- Walmart Credit Card features
- Benefits and Disadvantages of the Walmart Credit Card
- Application requirements
- How to apply for the Walmart Credit Card
- What fees and interests apply?
- Contact information
Features of the Walmart credit card
It is worth mentioning that Walmart's credit card for customers in Mexico is backed by Grupo Financiero Inbursa.
This institution, along with Walmart, offers the Walmart—Inbursa Credit Card, which has the following main characteristics.
Special Promotions and Bonuses
When making purchases at any establishment of the Walmart Group (Walmart stores, Bodega Aurrera, Superama, and Sam’s Club), you will receive a 3% bonus directly to your account statement.
Furthermore, you can enjoy discounts and special promotions at all Walmart Group stores.
Possibility to Delay the Minimum Payment for a Monthly Installment
Another standout feature of this card is that it offers you the option to delay the minimum payment for a monthly installment every 6 months through the 'Skip Your Payment' program. This will allow you to pay your installment more conveniently.
Among other features of this credit card offered by Walmart and Inbursa are the following:
- You can make withdrawals of a significant amount of money at various ATMs associated with Walmart;
- The flexible installments for your payments can be extended up to 36 months;
- Free participation in promotions and discounts;
- If you purchase more than $10,000 in home items such as mattresses, beds, furniture, and more, delivery is free of charge. The distance must be 15,000 km or less to qualify for free delivery.
Benefits and Drawbacks of the Walmart Credit Card
The benefits of a credit card lie in the availability of money for making purchases, and of course, the Walmart card is no exception.
The advantages and disadvantages of this card are listed below to compare the benefits you will get when acquiring your Walmart - Inbursa card.
Advantages
- You qualify for a 3% cashback benefit for every purchase you make at Walmart's branches or partners.
- You can take advantage of amazing promotions such as bigger discounts on your purchases or months of interest-free payments.
- If you have a good track record of using your card, you can defer your minimum monthly payment every 6 months.
- Purchases made at Sam's Club with this card are considered as cash, saving you an extra 2.3%.
- You can purchase in Mexico and abroad at any store or establishment that accepts MasterCard.
- If the cardholder passes away, their family and loved ones won't have to deal with the existing debt on the card as the outstanding balance will be waived.
- The card comes with insurance against theft or loss.
- You can apply for this card without needing a credit history, making it a good option for first-time credit card applicants.
Disadvantages
Despite the many benefits and advantages this card offers its users, there are also some downsides that you should be aware of before acquiring it.
Knowing these will help you make a better decision about whether this card is suitable for you.
- The Walmart Card's interest rates are higher than other co-branded cards.
- The card application process cannot be done online; you need to call or visit Walmart or Inbursa branches in person.
- If you are not a regular customer of the Walmart Group stores, you will receive few benefits. This is because the discounts and rewards program this card offers are tailored explicitly to customers of the chain above stores.
Application Requirements
If you want a Walmart credit card, you may wonder about the application requirements. Here are the requirements to apply for this card:
- Submit a pre-filled application;
- Documents with your personal information, such as a current address, valid identification, phone number, and email address;
- Ensure you have your income details; it should be at least $5000 monthly;
- Provide proof of how long you have lived at your current residence;
- You will also need to provide your date of birth, social security number, and even your driver's license;
- No credit history is required to apply for the card.
Please remember that all the documents you submit with your application must be current. Your proof of address should not be older than three months.
How to apply for a Walmart credit card
If you want to know how to apply for a Walmart credit card, rest assured that it is very simple.
For this, you just have to go to the nearest Walmart or Inbursa branch with the necessary documents to make the request. You can also visit their website for more information.
What are the applicable fees and interest rates?
It is especially important to be aware of the applicable fees and interest rates before acquiring any type of card, product, or credit service.
Regarding the Walmart Credit Card, its annual fee is $550 plus VAT, while its average interest rate per balance is 74.3%.
The Total Annual Cost of this card is 103.9% without VAT, and the fees for cash withdrawal, either at ATMs or counters, are 6% of the amount withdrawn. For cash withdrawals abroad, collection expenses can be up to $399.
It is worth mentioning that you can request additional cards at no extra cost.
Also, the first two additional cards will have no annual fee. However, if you request a third card, starting from this one, the annual fee will be $100 plus VAT.
Contact Information
Customer service is one of Walmart's strengths. To contact us, call 1 801 0096 722.
The headquarters is located at the following physical address:
Av. 1 Mayo y Rio Hondo #200 Estado de México, México.
If you need information about your Walmart Card, contact Inbursa by calling 55 5447 8000 in Mexico City or the Metropolitan Area.
If you're in other parts of the country, you can call toll-free at 01 800 90 90000. Their central headquarters is at Banco Inbursa Ave. Insurgentes Sur #3500 Mexico DF.
Conclusion
In conclusion, those who enjoy shopping at Walmart, Sam’s Club, Bodega Aurrera, and Superama will be able to benefit from discounts and special promotions by acquiring the Walmart Inbursa credit card.
Furthermore, with this card, purchases at the establishments above will earn a 3% cashback reward.
Another great advantage for those who like to shop at Walmart and its affiliated stores is that they can enjoy free delivery service for purchases exceeding $10,000 on white goods and furniture, among other items.
Therefore, the Walmart card is an excellent choice for regular customers of Walmart Group's stores and establishments.
If not, it's best to consider other credit card options, as this card's benefits are focused on Walmart stores.
Disclaimer: Before signing the contract with the institution to obtain your Walmart card, you should carefully read each clause to understand the details of its terms and conditions.
