Key takeaways
- The Chase Instacart Mastercard® delivers 5 percent cash back on qualifying Instacart orders, as well as a decent welcome bonus that’s easy to earn.
- With solid cash back rewards in other everyday categories — including gas, restaurants and select streaming services — this card could make sense for everyday spending.
- There’s no annual fee or foreign transaction fees to eat into your rewards earnings, but there also isn’t an intro APR offer.
Online grocery delivery fans already benefit by not having to visit the store in person all the time, but they can also benefit by earning cash back with the Instacart Mastercard®*. This co-branded credit card offers one of the highest rates of cash back for food delivery through the Instacart website or app, plus respectable rewards rates in everyday categories like gas, dining out and popular streaming services.
The Instacart card also comes loaded with benefits and features that can make signing up a good deal. This benefits guide will highlight the benefits you get if you sign up for this card and get approved.
Chase Instacart Mastercard card highlights
| Card details | Instacart Mastercard® |
|---|---|
| Welcome offer | $50 Instacart credit automatically upon approval |
| Rewards rate |
|
| Annual fee | $0 |
| Regular ongoing APR | 19.49% to 28.24% variable APR |
Chase Instacart Mastercard rewards benefits
The following perks come with the Instacart Mastercard:
Welcome bonus
The current Instacart Mastercard welcome bonus is a $50 Instacart credit automatically upon account approval. This bonus is better than nothing, but it’s less valuable than the previous bonus on this card (which was a $100 statement credit and a year of Instacart+ membership).
The ability to earn cash back on more than just groceries
This Chase credit card for food delivery features a generous rewards rate in its primary category — online grocery delivery. These purchases earn 5 percent cash back whether you set up your Instacart order on a desktop or using the Instacart mobile app.
Also note that Instacart offers more than groceries through its app; the delivery service offers goods from more 1,400 retail brands and 80,000+ stores across North America. You can make purchases for higher-end items like:
- Apple electronics
- Sports gear
- Home goods
- Pet supplies
With the Instacart Mastercard, this means you’ll earn 5 percent cash back on larger purchases that you might not earn as much on if you were using another rewards card.
In addition to the potential to earn 5 percent back on thousands of items, you’ll also get 5 percent back on Chase Travel purchases and 2 percent back at gas stations, restaurants and on select streaming services. Other spending categories still fetch 1 percent back.
With so many everyday spending categories covered, there are plenty of opportunities to maximize your cash back on the purchases you’ll put on this card.
Extra redemption options
Once you start racking up rewards, you’ve got a few options for redemption. The first one is the obvious choice — statement credits to cover all or part of your Instacart orders. Alternative redemptions for your rewards include:
- Gift cards
- Travel through Chase Travel (keep in mind these rewards aren’t Ultimate Rewards points, so they aren’t transferable or able to be combined with your Ultimate Rewards earned through other Chase cards)
- A direct deposit or statement credit
Also be aware that there is no minimum rewards balance required for direct deposits, statement credits or Instacart orders.
No annual fee or foreign transaction fees
On top of no annual fee, you won’t have to pay any foreign transaction fees if you decide to travel with this card. This means that if you take a trip outside of the United States, you won’t be charged additional fees on purchases in foreign currency made with this card.
Chase Instacart Mastercard additional benefits
There are a few extra perks to appreciate about the Instacart Mastercard, some of which you might believe you could only get with a travel credit card. Consider these benefits and how they could work in your favor.
Travel protections
Travel insurance benefits that come with this card include travel accident insurance and emergency assistance services, baggage delay insurance, lost luggage reimbursement and roadside assistance.
Cardholders also get secondary auto insurance when they pay for an eligible rental period with their credit card.
These benefits are worth the following amounts (if applicable):
| Coverage type | Benefit allowed |
|---|---|
| Travel accident insurance | Accidental death or dismemberment coverage of up to $500,000. |
| Baggage delay insurance | Coverage up to $100 per day for up to three days for eligible delays of six hours or more. |
| Lost luggage reimbursement | Coverage up to $3,000 per passenger or bags that are lost or stolen in the care of a common carrier. |
| Auto rental collision damage waiver | Coverage for theft and collision damage for most cars in the U.S. and abroad when you decline the rental company’s collision insurance and charge the entire rental cost to your card. This coverage is secondary to personal insurance in the U.S. |
Shopping protections
This card also comes with shopping benefits that can provide an extra layer of protection when items are damaged or stolen or stop working before they should. These perks include purchase protection against damage or theft and extended warranty protection on eligible purchases.
These benefits are worth the following amounts (if applicable):
| Coverage type | Benefit allowed |
|---|---|
| Purchase protection | Up to $500 per claim and $50,000 per account for eligible items within 120 days of purchase date. |
| Extended warranties | Additional year of extended warranty coverage on manufacturer’s warranties of three years or less. |
Access to Chase Pay Over Time
Chase Pay Over Time lets cardholders finance larger purchases without interest in exchange for a monthly fee of 1.72 percent of the transaction amount. This benefit only applies to certain purchases, and monthly payments depend on the amount financed and repayment timeline chosen.
World Elite Mastercard benefits
Because this card is part of the World Elite Mastercard network, you’ll also get access to that network’s benefits, like 24/7 concierge service and a free ShopRunner membership. Other Mastercard World Elite benefits include:
- Zero liability protection (for fraudulent transactions)
- Mastercard ID theft protection
- Instacart+ promotional offers (valid until March 31, 2025)
- Benefits with Peacock, Lyft and ResortPass
- Access to car, air, cruise and vacation packages, along with the Mastercard luxury hotel and resorts portfolio
Who should get the Chase Instacart Mastercard?
The right credit card can help you maximize rewards in categories like food and gas spending, and the Instacart Mastercard would be a great option to consider. There’s no annual fee for having the card, and you can earn 5 percent back on a range of purchases you can set up through Instacart.com or the brand’s mobile app. You can also get a $50 Instacart credit upon account approval, which translates to some free groceries right off the bat.
Then again, this card isn’t right for everyone. This is especially true for those who do most of their shopping off this convenient app, and for people who would be better off with a different credit card.
For the most part, the Instacart Mastercard is best for:
- People who frequently order food and other purchases through Instacart
- Individuals who don’t want to pay a credit card annual fee
- Anyone who wants to earn 2 percent back at gas stations and restaurants, and on eligible streaming services
- Consumers who want flexible redemption options for their rewards
Consider getting a different rewards credit card for groceries if:
- Instacart isn’t your grocery delivery service of choice
- You want a travel credit card with more benefits
- A credit card with an intro APR for purchases appeals to you
The bottom line
The Chase Instacart Mastercard is a refreshing option in the world of rewards and grocery credit cards. At a time when people are doing their best to maximize rewards on all their spending, this card can help cardholders save both time and money while purchasing things they need.
The benefits this card offers can also make it well worth signing up for, but make sure to consider other cash back credit cards before you decide.
*The information about the Instacart Mastercard® has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the issuer.
Read the full article here
The post Chase Instacart Mastercard Benefits Guide appeared first on Budget Busters Hub.