Wednesday, June 11, 2008

Wal-Mart Credit Card Review

I was searching the Internet looking for a new credit card to review or some topic to write about, and I came across the WalMart credit card. I take a look at the application form and the terms and agreement.

First off I notice that this card doesn't have an kind of rewards program. It does offer $0.03 off
per gallon of gas at participating Wal-Mart gas stations. But that perk is pretty laughable. Let's use an example to show how poor that rebate is. Currently gas is around $4.00 per gallon. If you buy 5 gallons of gas that is $0.15 off if you use your Wal-Mart card. Now if you use a credit card with 1% off all purchases you would save $0.20 in this example.

Another reason you should avoid this card is its interest rate. Depending on your credit history you will be offered an interest rate of 21.62%, 17.62%, or 11.62%. All of these are pretty high in my opinion.

If you are looking for a credit card with a cash back reward.

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