Walmart is ending its credit card partnership with Capital One, but customers can still use their cards

Walmart has ended a partnership with Capital One, making the banking company the exclusive issuer of Walmart's consumer credit cards.

The companies announced the change in a joint statement on 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 retains ownership and management of the credit card accounts.

Bentonville, Arkansas-based Walmart partnered with Capital One in 2019 after terminating its previous credit card deal with Synchrony Financial.

But Walmart eventually took a liking to 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 send out replacement cards. A federal judge ruled in favor of Walmart in March.

In a government filing Friday, Capital One said there is about $8.5 billion in loans in Walmart's existing credit card portfolio.

It is not yet clear when Walmart will appoint a new banking partner. The Associated Press sent an email message to Walmart on Saturday seeking comment.

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