Can I buy a money order at Walmart with a credit card?

Can You Buy a Money Order at Walmart with a Credit Card? (The Short Answer: No, But…)

The quick answer is no, Walmart does not directly accept credit cards as payment for money orders. This policy is consistent across most Walmart locations. Trying to purchase a money order using a credit card will be refused at the checkout. The retailer explicitly requires cash or debit cards for these transactions.

This leaves many wondering how to navigate this restriction, especially if you prefer to use credit cards for financial management. The key here lies in the word “directly.” While you can’t use your credit card to purchase the money order itself, there are indirect methods to obtain the cash needed.

The Indirect Route: Cash Advance

The most common workaround is to obtain a cash advance on your credit card. This involves withdrawing cash from an ATM or bank using your credit card. However, it’s crucial to understand the implications before resorting to this method:

• High Fees: Cash advances typically come with significant fees, often a percentage of the amount withdrawn plus a fixed fee. These fees can quickly outweigh the convenience.
• High Interest Rates: Interest on cash advances usually accrues immediately, and the interest rate is significantly higher than that of regular purchases. This means you’ll be paying back much more than you initially borrowed.
• Impact on Credit Score: While the impact isn’t as severe as a missed payment, consistently using cash advances can negatively affect your credit score. Lenders see frequent cash advance usage as a sign of potential financial instability.

Alternatives to Consider:

Before opting for a cash advance, consider these alternatives:

• Using a Debit Card: This is the simplest and most cost-effective solution. If possible, transfer funds from your credit card to your checking account and then use your debit card to purchase the money order.
• Visiting a Different Retailer: Some other retailers may accept credit cards for money order purchases. Check with local drugstores, grocery stores, or other convenient locations.
• Using a Check: If you have a checking account with sufficient funds, you can write a check instead of purchasing a money order. However, the recipient might prefer a money order for security reasons.

In Conclusion:

While you can’t directly use a credit card to buy a money order at Walmart, a cash advance offers a workaround. However, this option comes with significant financial drawbacks. Carefully weigh the associated fees and interest rates against the alternatives before making a decision. Using a debit card or exploring other retailers remains the most financially responsible approach. Remember to always consider the long-term implications of your financial choices.