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Walgreens has launched two new co-branded cards, issued by Synchrony, with a nod toward health and wellness. The $0-annual-fee cards include:
The myWalgreens™ Mastercard®, which can be used anywhere Mastercard is accepted.
The myWalgreens card, which can only be used in Walgreens and Duane Reade stores, online at Walgreens.com and through the Walgreens app.
Both cards come with the following benefits:
$25 in Walgreens Cash rewards when you make your first purchase within the first 45 days.
10% back in Walgreens Cash when buying eligible Walgreens-branded items in stores, online or through the Walgreens app.
5% back in Walgreens Cash on all other purchases in Walgreens and Duane Reade stores, online and through the Walgreens app. This includes pharmacy purchases.
Holders of the myWalgreens™ Mastercard® also earn 3% back on non-Walgreens groceries and health and wellness purchases, and 1% on everything else. “Health and wellness” is a broad category, including veterinary and pet stores, medical equipment, sporting goods stores, health care providers, hospitals and gym memberships.
Walgreens Cash can be redeemed as a deduction from an in-store, online or app purchase. The amount of Walgreens cash you accumulate is equal to the dollar amount you’d redeem. So if you have $2 in Walgreens cash, that amounts to $2 off a purchase when you choose to use your rewards.
There are limitations on how you can earn and redeem Walgreens Cash, however. You can’t earn rewards on alcohol, dairy, tobacco or lottery card purchases, for example, or on pharmacy purchases in Arkansas, New Jersey and New York. This isn’t a complete list, so be sure to review the program’s terms and conditions.
You can apply online or on the Walgreens app, but also in stores when you scan a QR code posted at the register and on signs throughout the store. Your eligibility will be determined for one of the two cards based on your financial information. Note that at first, you’ll only be subject to a soft credit inquiry, which won’t affect your credit score. If approved, you’ll receive a credit card offer. If you accept those terms, then you’ll be subject to a hard inquiry.
Once you accept the terms, you’ll have immediate access to the card through the Walgreens app. However, you’ll have to wait until you receive the physical card in the mail to add it to another digital wallet.