Advertisement
Canada markets open in 6 hours 16 minutes
  • S&P/TSX

    21,639.10
    -59.00 (-0.27%)
     
  • S&P 500

    5,431.60
    -2.14 (-0.04%)
     
  • DOW

    38,589.16
    -57.94 (-0.15%)
     
  • CAD/USD

    0.7280
    -0.0004 (-0.06%)
     
  • CRUDE OIL

    78.18
    -0.27 (-0.34%)
     
  • Bitcoin CAD

    90,603.61
    -474.98 (-0.52%)
     
  • CMC Crypto 200

    1,393.42
    +5.26 (+0.38%)
     
  • GOLD FUTURES

    2,333.30
    -15.80 (-0.67%)
     
  • RUSSELL 2000

    2,006.16
    -32.75 (-1.61%)
     
  • 10-Yr Bond

    4.2130
    -0.0250 (-0.59%)
     
  • NASDAQ futures

    19,713.25
    +27.75 (+0.14%)
     
  • VOLATILITY

    12.66
    0.00 (0.00%)
     
  • FTSE

    8,146.86
    0.00 (0.00%)
     
  • NIKKEI 225

    38,102.44
    -712.12 (-1.83%)
     
  • CAD/EUR

    0.6802
    +0.0004 (+0.06%)
     

Walmart ends credit card partnership with Capital One, but shoppers can still use their cards

Walmart has ended a partnership with Capital One that made the banking company the exclusive issuer of Walmart’s consumer credit cards.

The companies announced the change in a joint statement Friday.

The companies said card-holders can still use their Capital One Walmart Rewards cards, which will continue to accrue rewards unless customers are notified of a change. Capital One will retain ownership and servicing of the credit card accounts.

Bentonville, Arkansas-based Walmart partnered with Capital One in 2019 after ending its previous credit card deal with Synchrony Financial.

But Walmart eventually soured on Capital One. In 2023, Walmart sued the McLean, Virginia-based company, saying it wanted to terminate the agreement because Capital One was taking too long to process payments and mail replacement cards. A federal judge ruled in Walmart’s favor in March.

ADVERTISEMENT

In a government filing Friday, Capital One said there are approximately $8.5 billion in loans in the existing Walmart credit card portfolio.

It's not yet clear when Walmart might name a new banking partner. The Associated Press sent an email message seeking comment to Walmart on Saturday.