August 11, 2022

Chase Launches New Instacart Credit Card

Today, Chase launched a new credit card with its co-brand partner Instacart. The Instacart Mastercard…

Chase Launches New Instacart Credit Card

Today, Chase launched a new credit card with its co-brand partner Instacart. The Instacart Mastercard Credit Card is the first co-brand credit card in the on-demand delivery space and offers a solid rewards rate on Instacart purchases. Other bonus categories are fairly limited, however, so it may only be worth considering if you already use Instacart regularly.

Key Takeaways

  • Chase has launched a new co-brand credit card with Instacart.
  • The new card is the first credit card co-branded with an on-demand delivery service.
  • Consumers who regularly shop with Instacart may get both short- and long-term benefits that make the card worth it.

New Instacart Mastercard Credit Card Details

Chase and Instacart have been partnering for some time to offer a free trial to Instacart’s premium membership. In January 2022, the bank announced that it would soon launch a credit card in partnership with Instacart and Mastercard.

Today, that card has finally launched. With the new Instacart Mastercard Credit Card, cardholders will get the following:

  • 5% cash back on Instacart purchases made at more than 800 national, regional, and local retail brands from more than 70,000 stores across more than 5,500 cities.
  • 5% cash back on travel purchased through the Chase Travel Center.
  • 2% cash back on restaurants, gas stations, and select streaming services.
  • 1% cash back on all other purchases.

Additionally, the first 10,000 consumers who apply and get approved will receive a $200 credit toward Instacart purchases and one free year of Instacart+. After that, new account holders will receive a $100 Instacart credit and one free year of Instacart+.

In both cases, there’s no minimum spending requirement, which is rare among rewards credit cards. You can redeem rewards for Instacart orders, cash back or travel.

Other benefits include:

  • No annual fee
  • No foreign transaction fees
  • Auto rental collision damage waiver
  • Purchase protection
  • Extended warranty protection
  • Baggage delay insurance
  • Lost luggage reimbursement
  • Roadside assistance
  • Travel accident insurance
  • Travel and emergency assistance services

Is the Instacart Credit Card Right for You?

There are a lot of credit cards with excellent rewards rates on groceries, and Instacart is typically included in the grocery category. If you already have a good card for groceries, the Instacart credit card may not be the right fit.

But if you use Instacart regularly and you’re earning far below the Instacart Credit Card’s 5% rewards rate on those purchases, this card might be worth it.

The card does offer bonus rewards on other categories as well, but travel options through the Chase Travel Center may not always be robust, and the rewards rate for restaurants, gas stations and select streaming services is relatively low compared to what many other cards offer.

It’s also important to consider that this card won’t give you bonus rewards on in-store grocery shopping. So, if you want a card that will give you extra cash back or points whether you’re shopping in person or through Instacart, go with another credit card with grocery rewards.

While it may be tempting to apply quickly to earn the higher sign-up bonus, take your time to consider whether the Instacart Mastercard Credit Card is right for you. Compare it to what you already have in your wallet, as well as to other credit cards with bonus rewards on groceries. While this one might be the best fit for you in the end, it’s important to do your due diligence before you apply.

You can learn more about the card and apply through www.theinstacartmastercard.com.