Walmart has not yet announced which bank will replace Capital One

Walmart has not publicly named the new credit card issuer yet. Capital One ended its contract to issue the Walmart Mastercard and Walmart credit card, and Walmart is working on a transition to a replacement bank. When Walmart finalizes the deal, the company will notify current cardholders by mail and email with the new issuer's name, the date your Capital One card stops working, and when to expect your new card.

This type of transition is standard in the credit card industry. Banks regularly exit co-branded card programs when the business no longer meets their profitability or strategic goals. Capital One's decision to step back is a business choice between two large companies and does not reflect any problem with your account or credit history. Walmart has the scale and customer base to attract another issuer, so the transition is expected to move forward without major disruption to cardholders.

Key Takeaways

  • Walmart will announce the new credit card issuer and transition details by mail and email to your account on file before any change takes effect.
  • Your existing Capital One Walmart card will stop working on a date Walmart specifies, but you will receive a new card from the replacement issuer before that happens.
  • Your account balance, credit history, and rewards do not disappear during the switch — they transfer to the new issuer's system.
  • You should update any automatic payments or subscriptions linked to your Capital One Walmart card number once you receive the new card.
  • The new issuer may offer different rewards rates, annual fees, or benefits, so read the new card's terms when it arrives.

What You Will Receive From Walmart

Walmart will send you written notice by mail before the transition date. This notice will include the name of the new issuer, the date your Capital One card stops working, and the date you should expect to receive your new card. Walmart will also email you if your account has an email address on file. The notice will explain any changes to rewards, fees, or card benefits under the new issuer.

Read the transition notice carefully, because the new card may offer different cash back rates, annual fees, or perks than your Capital One card did. Walmart typically gives cardholders at least 30 to 60 days' notice before the old card expires, though the exact timeline depends on when Walmart finalizes the new agreement. Keep the notice for your records and refer to it when you need the new issuer's contact information or payment details.

How Your Account Transfers to the New Issuer

Your account balance, payment history, and rewards points or cash back do not disappear. The new issuer receives your account information from Capital One and sets up your account in their system. You will have the same account balance you had with Capital One, and your credit history with that account transfers as well. The new issuer will send you welcome materials explaining how to access your account online and how to make payments.

Your rewards balance may transfer as cash back, points, or a statement credit, depending on how the new issuer structures their program. Walmart will explain this in the transition notice. If you have pending rewards or cash back that has not posted yet, contact Capital One before the transition date to confirm the status — the new issuer will not have access to rewards that have not yet been finalized in Capital One's system.

Updating Your Automatic Payments and Subscriptions

Once you receive your new card, you must update any automatic payments or recurring charges that use your Capital One Walmart card number. This includes subscriptions, utility bills, insurance payments, streaming services, or any other service that charges your card automatically each month. Your old Capital One card number will not work after the transition date, so payments will fail if you do not update them.

Log into each service's website or app and enter your new card number. You can do this as soon as you receive the new card — you do not have to wait for the old card to expire. If you miss updating a payment and a charge fails, contact the service to provide the new number and ask them to retry the charge. Set a reminder on your phone or calendar to update payments within a few days of receiving your new card.

What Happens to Your Credit Score During the Switch

The transition should not harm your credit score. The new issuer is taking over an existing account, not opening a new one, so there is no new hard inquiry or new account on your credit report. Your payment history and credit utilization carry forward to the new issuer's records. The account age also remains the same, which is important because older accounts help your credit score.

However, if you miss a payment during the confusion of the transition, that will damage your credit. Make sure you know the new payment due date and the new payment address or online portal before the old card expires. If you set up automatic payments with the new issuer, your payments will continue on schedule without interruption. Contact the new issuer if you are unsure about your payment method or due date.

If You Prefer Not to Use the New Card

You are not required to accept the new card. If you do not want to continue with the Walmart credit card under the new issuer, you can decline it. Contact Walmart or the new issuer once they are announced and ask to close the account instead of transferring it. Closing the account will not hurt your credit as long as you pay the balance in full.

If you close the account, your remaining balance will still be due. You can pay it off before the old card expires, or the new issuer may allow you to pay the balance on the old card for a period after the transition. Ask about this when you receive the transition notice. Some issuers allow you to continue making payments on the old card for 30 to 90 days after the transition, even though you cannot make new purchases.

Frequently Asked Questions

When will Walmart announce the new credit card issuer?

Walmart has not announced a date yet. The company will notify cardholders by mail and email once the new issuer is finalized and a transition timeline is set. Check your mail and email regularly for updates, or contact Walmart customer service to ask about the status of the transition.

Will my rewards points disappear when the card switches?

No. Your rewards balance transfers to the new issuer. Depending on the new issuer's program structure, your rewards may be converted to cash back, statement credits, or points in their system. Walmart will explain the conversion in the transition notice so you know exactly what to expect.

What if I have a balance on my Capital One Walmart card when the transition happens?

Your balance transfers to the new issuer, and you will receive a new card to continue making payments. The new issuer will send you information about your new payment due date and how to pay online or by mail. You can also pay off the balance before the transition date if you prefer to avoid carrying it to the new issuer.

Do I need to do anything right now?

No action is required until Walmart announces the transition and sends you a notice. When the notice arrives, read it carefully, note the important dates, and update any automatic payments once you receive your new card. Keep the notice for your records in case you need to reference the new issuer's contact information.

Will the new card have the same benefits as my Capital One card?

The new issuer may offer different rewards rates, annual fees, or benefits. Walmart will include details about the new card's terms in the transition notice. Compare the old and new benefits to decide whether the new card meets your needs, and contact the new issuer if you have questions about the terms.