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Walmart announces major credit card change

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Walmart announces major credit card change

  • Retail giant soured on Capital One and sued it last year to end agreement
  • Capital One took too long to process payments and mail replacement 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 cardholders 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.

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

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.

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.

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