Who this card is for
A good fit if you…
- Households that already shop Walmart in store or on Walmart.ca often enough for 3% Reward Dollars to be the earn story, including Marketplace orders if the live program still treats those as Walmart spend.
- People who will redeem at Walmart rather than hunting a statement credit they can send to any bank.
- Applicants who want a $0 Mastercard and do not need World Elite income theatre — no eligibility terms are listed for this card, which is not the same as guaranteed approval.
- Anyone who pays in full. Reward Dollars are not compensation for carrying 21.99% interest, and some applicants are booked on a higher standard-rate card — confirm the disclosure Fairstone sends you.
Skip it if you…
- Shoppers who rarely enter a Walmart. 1% elsewhere is a basic catch-all, and Tangerine’s 2% categories will usually feel more generous.
- People whose “grocery” is Loblaws, Canadian Tire, or Amazon. Those banners have their own cobrands; Walmart Reward Dollars do not print there.
- Travellers collecting Aeroplan or Avion. This card pays a store currency issued by Fairstone, not a bank travel program.
- Anyone applying for a welcome bonus. None is currently listed.
Pros and cons
Pros
- No annual fee, so 3% at Walmart does not have to clear a membership first.
- 3% at Walmart (the card’s features ask you to confirm the live program) is a real cobrand rate after the 2025 earn refresh Fairstone and Walmart advertised — still verify on walmartrewards.ca.
- 1% elsewhere means the card is usable outside the banner, even if it is not a 2% flat cash-back product.
- Mastercard acceptance includes Costco Canada, though that spend will not pay the Walmart 3% rate.
- Reward Dollars are simple if you already check out at Walmart: they are meant to knock money off that bill, not to teach you an award chart.
Cons
- Rewards redeem at Walmart. If you wanted cash back into a chequing account, this is the wrong currency.
- This card currently lists no welcome bonus, detailed offer, or dollar value. Year-one value is the earn rate.
- Additional-card fees, insurance coverage, and eligibility terms are not currently listed. Confirm authorized users, coverage, and approval criteria with Fairstone.
- There is no Fairstone Bank issuer hub on this site. Compare in the related cards below rather than inventing a bank hub URL.
- Purchase-rate risk: cobrands like this sometimes book a higher “standard” APR if you miss the preferred-rate card. Read the disclosure; this review will not guess which rate you get.
Fees and value: is the annual fee worth it?
First-year snapshot (estimate)
- Annual fee
- $0
- Estimated welcome bonus value
- Not listed
- Bonus minus fee (estimate)
- —
This is a simple comparison of the estimated welcome-bonus value against the annual fee. It ignores rewards on spending, credits you have to remember to use, and interest if you carry a balance. Offers change — verify with the issuer.
The annual fee in our table is $0, so you are not racing a January bill. The first-year snapshot on this page will not show a signup cushion because no welcome bonus is listed.
Ongoing value is 3% at Walmart minus 1% on everything else, in a currency you spend back at Walmart. If the banner is a weekly habit, that is enough product.
If Walmart is an occasional run, Tangerine or a 1.25% flat cash-back card will annoy you less. Offers change; Walmart and Fairstone have restated earn rates before.
Pay in full. A 21.99% purchase rate (or a higher standard rate, if that is what you are offered) will delete Reward Dollars faster than a rollback.
Rewards and earn rates explained
Rewards program: Walmart Rewards
You earn Walmart Reward Dollars, not cash back and not Aeroplan. The current features describe 3% at Walmart and 1% elsewhere, and they tell you to confirm the current program on the Walmart Rewards site — that caveat is there because store cobrands change multipliers.
Public program terms from the 2025 refresh describe 3% on eligible Walmart Canada and Walmart.ca purchases (calculated before tax in those terms) and 1% on eligible purchases everywhere else (after tax in those terms). Pharmacy banners inside a Walmart, Marketplace sellers, and pickup orders can have their own footnotes; use walmartrewards.ca, not this paragraph, as the live table.
Redeem at Walmart as the program allows. Put Walmart spend here; put Amazon.ca on the Amazon.ca Rewards Mastercard and Canadian Tire on a Triangle card.
Welcome bonus: how to unlock it
No welcome bonus is currently listed for this card.
This card currently lists no welcome bonus, detailed offer, dollar value, or eligibility text. Treat that as “none on file.” If Fairstone is running Reward Dollars on the live application, use that page. Judge the card on $0 fee, 3% at Walmart, and whether you will redeem in that banner.
FAQ
Is the Walmart Rewards Mastercard worth it in 2026?
It is worth it when Walmart is already a weekly shop and you want 3% Reward Dollars at $0. It is not worth it as a travel-points card, a 2% catch-all, or a card you revolve.
Walmart Rewards vs Amazon.ca Rewards Mastercard?
Amazon.ca Rewards feeds Amazon.ca spend (and a weaker rate elsewhere) from MBNA. This card feeds Walmart. Hold the cobrand for the site you actually use; holding both only makes sense if both checkouts are habits. Neither is a grocery World Elite.
Walmart Rewards vs Tangerine Money-Back?
Tangerine pays cash back in categories you choose, at $0. Walmart pays a store currency at 3% inside the banner and 1% outside. Choose Tangerine if you want dollars and control. Choose Walmart if the Supercentre run is the whole story.
Who issues this card?
Fairstone Bank of Canada, not Walmart as a bank and not a Big Six issuer. There is no Fairstone hub on this site. Apply through the Walmart Rewards product link, and read Fairstone’s cardholder agreement for rates and fees.
Does this card charge foreign-exchange fees?
Most Canadian store Mastercards add a foreign-conversion fee on foreign-currency purchases. This is a domestic Walmart cobrand, not a no-FX travel card. For overseas spend, compare Scotiabank Passport Visa Infinite, and confirm Fairstone’s current FX rate in the agreement.
Compare related cards and guides
More Canadian credit card lists that match this product, plus a few cards people usually compare it with.
- Amazon.ca Rewards Mastercard review · MBNA · $0 annual fee
- Triangle Mastercard review · Canadian Tire Bank · $0 annual fee
- Tangerine Money-Back Credit Card review · Tangerine · $0 annual fee
