Last week Walmart sued its long-time partner Capital One as it is looking for a way out of its contract. According to The Wall Street Journal, Walmart alleged that Capital One failed to live up to its service obligations.
According to Walmart, Capital One failed to replace lost cards in a timely manner. Walmart also argues that some credit-card transitions failed to post in a timely manner. Capital One has denied these allegations.
Walmart and Capital One have been partners since 2019 and have a contract to work together through at 2026. Now Walmart wants to end that contract through this lawsuit.
Walmart’s store credit card allows users to get 5% back on Walmart.com. 2% back in stores and at Walmart gas stations. 1% back anywhere Mastercard is accepted. The credit card also doesn’t have a yearly service fee helping it stand out from others. Currently, the card is managed by Capital One.
If this lawsuit is successful, Walmart will be able to find a new partner to help manage its credit cards.
Do you use Walmart’s store credit card? Have you had these issues? Leave us a comment nad let us know your experience.