By Colin Kellaher
Capital One Financial and Walmart Wednesday unveiled the Capital One Walmart Rewards program with the launch of a pair of new credit cards that will be available next week.
The companies said they will offer a co-branded Capital One Walmart Rewards Mastercard for purchases everywhere and a private-label Walmart Rewards card exclusively for Walmart purchases.
Both cards will offer 5% back on purchases at Walmart.com, along with an introductory 5% back on in-store purchases when using Walmart Pay for the first 12 months.
The companies said current Walmart cardholders will be converted to the new cards starting Oct. 11.
Capital One, a McLean, Va., financial-services company, and Walmart, the world's largest retailer, said they plan add more products and capabilities to the program over time.
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