BENTONVILLE, Ark.—Credit unions have another reason to actively solicit members to make their cards top of wallet, as Walmart, in a move to challenge Amazon, is expected to unveil its own membership shopping service later this month.
Dubbed Walmart Plus (Walmart+), the superstore retailer is going head-to-head with Amazon and its long-standing Prime offering.
“Walmart will reportedly introduce a Walmart+ branded credit card, but it won’t be revealed as soon as Walmart+ launches. If a Walmart credit card sounds familiar, you’re right: there is already the no-annual-fee Capital One Walmart Rewards Card,” The Points Guy said.
Walmart+ will charge $98 per year and will include same-day grocery delivery, discounts on fuel purchases, and other yet-to-be-announced perks. Amazon Prime, which costs $119 annually, includes free two-day delivery on a huge number of items — with some products even available on the same day or next day. There’s also free grocery delivery in some cities, Prime Video and other benefits, The Points Guy noted.
“It remains to be seen whether Walmart will completely revamp its current credit card or complement it with a new offering for Walmart+ subscribers, similar to Amazon’s model,” The Points Guy said.