I heard that a lot of Instacart enthusiasts are happy to know about this and its limited-time welcome bonus.
However, there are things that you must know when it comes to opening another credit card.
Throughout the pandemic, people have been sticking to grocery deliveries and, according to Brick meets Click/Mercatus grocery Shopping survey, the delivery sales have reached $7.7 billion as of this year. Because of this, some – if not all – credit card banks are actually taking advantage of this and making sure that the consumers will stay with them by creating programs that benefit their shopping needs.
Some issuers even add a Rewards Program that enables their customers to earn points based on their spending. Also, some offer free delivery when the consumers use their credit cards.
As of today, July 26, 2022, Instacart partnered with Chase to introduce the Instacart MasterCard. This new credit card offers 5% cash-back for their Instacart purchase and travel purchase through their Chase Travel center. New applicants can also enjoy a welcome bonus of $200 worth of Instacart credit and free delivery for an entire year. However, this is limited to only the first 10,000 applicants who apply by August 4, 2022. After that, Instacart will go back to the usual complimentary year of Instacart+ and the $100 Instacart credit.
Once approved, your new Instacart Mastercard is good to go for its cash-back for all your Instacart shopping. It has no annual fee or foreign transaction fees.
When you use your Instacart Mastercard you will earn:
- 5% cashback for Instacart purchases made with more than 800 retail brands from over 70,000 stores, using your Instacart App or by doing it online (INSTACART)
- 5% cash back for your travel purchases such as flights and hotels through Chase Travel center
- 2% cash back for your streaming services purchases such and as well as restaurants and gas stations
- 1% cash back for all other purchases.
It also comes with:
- World Elite Mastercard benefits include 24/7 access to World Elite concierge services.
- Extended Warranty and purchase protection
- Baggage delay and travel accident insurance
- Lost luggage reimbursement
- Option to auto rental collision damage waiver for car rentals, roadside assistance, and other emergency assistance.
If you are loyal to Instacart purchasing, this Instacart MasterCard is worth getting. The cashback itself and the welcome bonus plus whole-year delivery is worth taking advantage of, plus, all the shopping benefits you can get for being an Instacart Mastercard holder. There is no annual fee and 0% Intro APR. International travelers have the added advantage of no foreign transaction fee.
However, more and more issuers and companies are partnering to satisfy their customers’ shopping needs. Thus, you should also consider the price difference when you shop in person versus shopping via Instacart, which is usually more expensive. Another consideration for some is the process of applying for the Instacart Mastercard will result in an “inquiry” record on your credit report. This is usually a concern only when you have either had recent inquiries and/or if you plan to apply for additional credit, including a home refinance. As with many other credit cards, the usual 16.49% to 25.24% APR can be ridiculously high. Thus, you should consider paying your statement balance in full each month in order to avoid paying any interest at all. If you do not have a “Good”, “Very Good”, or “Excellent” credit score, this might not be the credit card for you.