Why I do not see the credit card already added on Wallet from my Apple Watch?

When I go to my apple watch, and select add card, the circular icon for "buffering" appears and the credit card that is added to my phone doesn't appear on the wallet. Is the wallet only for Apple card, or do I need the newer watch to be able to have access to credit card on it? Please let me know what I can do. Right now I have the credit card on wallet on phone only, and not Apple card installed.

[Re-Titled by Moderator]