Chase Launches New Instacart Mastercard
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Many consumers shifted their grocery shopping habits from in-store to online amid the COVID-19 pandemic, and Chase and Instacart are betting this trend will continue. As of July 22, 2022, the companies teamed up to launch the Instacart Mastercard®.
New cardholders will be able to earn accelerated cash back on Instacart purchases made at more than 700 national, regional and local grocers and retailers, plus travel booked through Chase and more.
The Instacart Mastercard® will earn:
5% cash back on Instacart purchases, both online and through the app.
5% cash back on travel booked through Chase.
2% cash back at restaurants, gas stations and select streaming services.
1% cash back on all other purchases.
The card has a $0 annual fee, and it earns points that can be redeemed for cash back via direct deposit or a statement credit with no minimum redemption. Eventually, Chase says, cardholders will be able to redeem points for Instacart purchases directly.
Other features include World Elite Mastercard benefits, perks like free delivery on Instacart purchases over $35, and lower service fees, according to a news release.
The card is the first Chase co-branded credit card in the general grocery delivery space. Currently, Chase is also the exclusive issuer of the Amazon Prime Rewards Visa Signature Card, which earns rewards on purchases made at Whole Foods and other categories.
The launch of the Instacart Mastercard® expands on Chase's moves in recent years to incentivize everyday purchases like groceries. Since 2020, Chase and Instacart have offered cardholders limited-time offers on eligible purchases. During the pandemic, Chase also became more active in rewarding grocery store purchases through limited-time offers and introductory offers on its credit cards. Chase also revamped the Chase Sapphire Preferred® Card, which now offers 3x rewards on online grocery purchases.
