Chase launches the Instacart Mastercard, featuring flexible earning and redemption options
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Chase has partnered with online grocery delivery service Instacart to create a new co-branded credit card, the Chase Instacart Mastercard. This much-anticipated card offers rewards on Instacart purchases with over 800 retailers nationwide, along with cash back on dining purchases, gas stations, select streaming services and travel through the Chase Travel Center.
In addition to more opportunities to earn rewards, the card offers flexible redemption options, including cash back in the form of a direct deposit or statement credit and travel through Chase. Further, the card automatically features a complimentary Instacart+ membership for one year and an Instacart credit of $200 or $100.
Chase Instacart Mastercard card highlights:
- Rewards rate: 5 percent cash back on Instacart purchases; 5 percent back on Chase Travel Center purchases; 2 percent back at gas stations, restaurants and on select streaming services; 1 percent back on all other purchases
- Welcome offer: Free Instacart+ membership for one year; $200 Instacart credit for the first the 10,000 approved cardmembers, after which approved cardmembers earn a $100 Instacart credit
- Annual fee: $0
- Regular APR: 19.24 percent to 27.99 percent variable APR
Chase Instacart Mastercard benefits and perks
In addition to a generous rewards structure and welcome offer, the Chase Instacart Mastercard comes with a considerable slate of perks that boosts the overall value of the card:
- World Elite Mastercard benefits, including 24/7 concierge service and exclusive offers from brands and online shopping
- No foreign transaction fees
- Purchase and extended warranty protection
- Baggage delay insurance
- Lost luggage reimbursement
- Roadside assistance
- Auto rental collision damage waiver
- Travel accident insurance
- Travel and emergency assistance services
Should I get the Chase Instacart Mastercard?
Of course, this will all boil down to your spending habits. If you plan to use Instacart or already use it regularly, there’s plenty of upside to having this card. You’ll earn a higher rate of rewards on your grocery spend, score a free Instacart+ membership for a full year and have the flexibility to redeem your rewards for cash back in the form of a statement credit or direct deposit, with Chase Travel Center purchases and, coming this fall, credits toward part or all of your Instacart orders.
When you pit this card against a travel credit card like the Chase Sapphire Preferred®, you’ll find similar rewards rates and card perks (for a $95 annual fee). Although you get a notably higher welcome bonus with the Sapphire Preferred, you’ll earn more rewards on Instacart purchases with the Instacart Mastercard (5 percent versus 3X points on eligible delivery services with the Preferred ).
Another likely comparison in the Chase card family is one or more of the Freedom cards. Both the Chase Freedom Unlimited® and Chase Freedom Flex℠ have no annual fee and offer rewards in common categories, like dining (including eligible delivery services), drugstore purchases and Chase Travel Center purchases. These cards, however, don’t offer rewards on gas station purchases — and the Instacart Mastercard offers a higher 5 percent rate on delivery services, though specifically with Instacart, of course.
It’s also worth noting that you can use Instacart to order from hundreds of retailers that include brands like Best Buy, PetSmart, Staples, Walgreens, Lowe’s, Dick’s Sporting Goods, Bath & Body Works and more. This means you can earn 5 percent back on things like electronics, beauty products and even sports gear. In other words, this card provides a convenient catch-all method to boost your rewards in spending categories that may not be covered with other rewards credit cards.
The bottom line
The Chase Instacart Mastercard provides more than a few good reasons to continue using, or transition to using, online grocery delivery services like Instacart. The rewards rate, welcome offer, extra card perks and lack of an annual fee mean that you can save more time, and now money, on the convenience of online delivery services.
We think both new and existing Instacart users can get plenty of value from the Chase Instacart Mastercard if they use it enough for groceries and other categories.