Capital One Walmart Card Discontinued; Existing Holders Moving to Quicksilver

Capital One has shut down applications for the Capital One® Walmart Rewards™ Mastercard®, as well as for the "closed-loop" Walmart Rewards Card that was usable only with the retailer. Existing cardholders will be transitioned to the Capital One Quicksilver Cash Rewards Credit Card, even if they already have that card.

Capital One and Walmart had announced in May 2024 that they were ending their partnership, but the fate of the co-branded Walmart credit cards was unknown at that time.

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What existing cardholders can expect

Capital One's website notes that it "will be sending eligible customers their new Capital One Quicksilver Mastercard on a rolling basis, so not all customers will receive their card at the same time." A Capital One spokesperson confirmed that Quicksilver cards will be sent out beginning in September and throughout early 2025.

Walmart cardholders can continue to use their Walmart credit cards until further notice. Once customers receive their new Quicksilver cards in the mail, Capital One recommends that they activate the new card and destroy the old one. The issuer says customers will retain any rewards they’ve earned with the Walmart card. Points will transfer to the Quicksilver cards at a value of one cent per point.

Any remaining balance on those Walmart credit cards will be transferred to the Capital One Quicksilver Cash Rewards Credit Card, which has a $0 annual fee and earns an unlimited 1.5% cash back on all purchases. It also earns 5% cash back on hotels and rental cars booked through Capital One Travel. Rewards may be redeemed in any amount for a statement credit, check or gift cards. However, Walmart cardholders who are moved to the Quicksilver card are ineligible to receive its sign-up bonus.

When it was available, the Capital One® Walmart Rewards™ Mastercard® offered the following ongoing rewards:

• 5% back on purchases at Walmart.com and items purchased through the Walmart app.

• 2% back on in-store purchases, including those made at Murphy USA and Walmart gas stations.

• 2% back on travel and at restaurants.

• 1% back on all other purchases.

Walmart initiated the split from Capital One, citing dissatisfaction with Capital One’s customer service. Walmart sued Capital One in 2023.

Before teaming with Capital One, Walmart partnered with Synchrony Financial for 20 years to issue its co-branded credit cards. The retailer sued Synchrony in 2018 in part over the issuer's underwriting processes.

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