Walmart ends credit card partnership with Capital One: What to know

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 card-holders 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.

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. The lawsuit also said Capital One 'admitted' it had failed to meet some of Walmart's service standards.

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