The Walmart credit card does not charge annual fees to its cardholders. It does, however, have other fees associated with late payments, and it charges interest on balances that are not paid on a timely basis. From time to time, Walmart offers special financing terms on its credit card and pays a specific incentive amount after cardholders open a card.

Walmart Credit Card

The Walmart credit card is administered by Synchrony Bank and provides $0 liability protection, a 5 cent per gallon discount at participating U.S. Walmart gas stations, a free FICO report every month and no annual fee. Additionally, for purchases made in stores, the card provides special financing terms. Depending on the amount spent, cardholders do not have to pay interest on the balance as long as the balance due is paid off in fixed monthly amounts during the promotional period. The higher the amount spent in a store, the longer the promotional period is.

The Walmart credit card does not allow taking cash advances and conducting transactions in foreign currencies. If a cardholder makes a late payment, he is charged up to $35 of a late payment penalty. If a cardholder paid his total minimum payment due on time in each of the previous six billing cycles, the late payment fee is reduced to $25. Synchrony Bank uses a daily rate to calculate interest on the balance of the Walmart credit card each day. The annual percentage rate (APR) for purchases is the prime rate plus 19.65%. Walmart credit card members can pay their balances by mail, online, or at any Walmart or Sam's Club store.