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Walmart Debit Card

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Earn cash back rewards by shopping at Walmart now with overdraft protection up to $200 with opt-in & eligible direct deposit
  • Earn 3% cash back at Walmart.com, 2% cash back at Walmart fuel stations, & 1% cash back at Walmart stores, up to $75 each year
  • Get your pay up to 2 days before payday & your benefits up to 4 days before benefits day with Early direct deposit
  • Waive your monthly fee when you direct deposit $500+ in previous monthly period. Otherwise, $5.94 a month.

Benefits of Debit Cards

Using a debit card can offer several benefits for individuals who prefer to make purchases with their own funds rather than relying on credit. Here are five common advantages of utilizing a debit card:


Debit cards provide a convenient payment method that allows you to make purchases and withdraw cash from ATMs. They are widely accepted by merchants and can be used for in-person or online transactions, offering a convenient and efficient way to access your funds.

Control and Budgeting

Debit cards help you stay within your budget as you can only spend the funds available in your bank account. This can help you avoid accumulating debt and overspending. Debit card transactions are directly linked to your checking or savings account, allowing you to have a real-time view of your available funds.

Avoidance of Interest and Debt

Unlike credit cards, which involve borrowing money and potentially accruing interest, debit cards allow you to make purchases using your own funds. This means you won’t accumulate interest charges or debt when using a debit card, promoting responsible spending and financial management.

Protection Against Fraud

Debit cards often come with built-in security features, such as PIN verification and the ability to report lost or stolen cards. In case of fraudulent activity, your liability for unauthorized transactions is generally limited, providing you with a level of protection against potential financial losses.

Easy Access to Cash

Debit cards can be used to withdraw cash from ATMs, offering quick and convenient access to your funds. This eliminates the need to visit a bank branch during operating hours and provides flexibility when you need cash for daily expenses or emergencies.

It’s important to note that debit cards have some limitations compared to credit cards. For example, they may not offer the same rewards programs or purchase protection benefits that credit cards provide. Additionally, debit card transactions do not contribute to building credit history. However, for individuals who prefer using their own funds and value control over their spending, debit cards can be a valuable financial tool.

Frequently Asked Questions (FAQ)

What is a debit card?

A debit card works like a credit card. You can swipe to make a purchase and don’t need cash. The key difference between a debit card and a credit card is where the money comes from.  When you purchase with your debit card the money is withdrawn right from your checking account. It prevents you from buying and making purchases you don’t have the money for so overdrafts are prevented unless your bank has an overdraft policy that you participate in.

When you open a credit card, you are given a line of credit. So, when you make a credit card purchase, the financial institution applies your purchase amount towards your line of credit. That becomes part of the balance that you owe. They also charge you interest on that balance. In essence, you are borrowing the money and paying it back with payments and interest.  As credit cards became widely used the competition between banks increased. Banks started offering rewards and cash back options for using their credit card. Now, as more and more people are making debit card purchases, banks are offering incentives to open a checking account so you can use their debit card.  Those rewards, though, are rarely as good as you would get with a credit card. Yet, they do exist if you do your research.

What are the different ways to earn rewards with debit cards?

Debit cards can offer rewards in several ways. Because there are fewer debit cards with rewards programs, it’s good to understand how you might get a reward. There are three ways you might earn a reward from your debit card.

Cash Back Rewards

Cash back reward cards do exist but not as many as there once were and the rewards are slimmer. The biggest reason for this is simple. The banks have less money to create those rewards.  During the financial crisis around 2008, there were many restrictions placed on the number of fees that could be charged for using a debit card. This was one of the ways banks made money to fund those rewards programs.

Reward Points

Rewards points work much the same way airline points work. You spend money using your debit reward card. For every certain amount you spend, you earn a rewards point. Those points add up and you can spend the rewards.
It should be noted you don’t get cash back from the points but instead can use them towards purchases you might also use cash for. So, in the end, you still save money on future purchases just by using the rewards debit card.

Relationship Rewards

Relationship rewards are another way banks can reward you for using their debit card. Your card issuers, bank or credit union, have connected with other businesses and set up perks like discounts you might get because you use their debit card. Perk discounts come from certain stores, websites or business partners.  You won’t get cash back, yet you are still saving money if you choose to use your debit card and take advantage of those rewards from those partnerships.

What questions should you ask regarding the debit card program?

Knowing the ways you can gain cash back or rewards will help to know what kind of questions to ask regarding the debit card program.

You should ask:

  • What form of rewards do you offer?
  • How can you earn rewards?
  • How quickly do they add up?
  • Do the rewards expire?
  • Is there a limit to the number of rewards you can earn during a certain period?
  • If you offer cash back, is there a maximum amount that can be earned?

Another thing to consider is if the reward cards have fees. Will the way you use the card give you more rewards than the amount of fees you pay?

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