Store credit card no. 1: Capital One Walmart Rewards Mastercard

There are many Americans who just love Walmart, and if you are one of them, then the Capital One Walmart Rewards Mastercard might be perfect for you. This is a fantastic choice for those who shop exclusively at Walmart.

And even if this retailer is already known for its low prices, using this credit card might help you save even more. If you decide to shop using the Walmart app or their website, Walmart.com, you will get 5% of your purchases back.

But if you want to use the card in physical stores, there is a catch. You will get the 5% back only in the first year; after that, you will get only 2% back on your Walmart spending. But keep in mind that this applies only to physical stores. When buying online, the 5% back is still available.

A straight cash-back card might be used to earn 2% cash back on travel, dining, and gas stations, but 1% cash back on other transactions is not competitive when compared to certain cash-back credit cards.

One of the best things about the Capital One Walmart Rewards Mastercard is that it has no annual fee. Another notable pro of this store credit card is that it offers trip cancellation or interruption insurance. This means that if something happens and your trip gets canceled for some reason, you will receive up to $1,500 back in reimbursement.

The APR is variable at 17.99% or 29.74%, depending on your credit score.