Many consumers have shifted their grocery shopping habits from in-store to online during the pandemic, and Chase and Instacart are betting this trend will continue. The companies have announced that they are teaming up to launch the Instacart Mastercard in 2022.
Future cardholders will be able to earn accelerated points on Instacart purchases made at more than 700 national, regional and local grocers and retailers. It’s unknown whether this card will offer more value on Instacart purchases than other credit cards. Chase has not yet revealed details about the card’s specific terms and features, but a spokesperson confirmed in an email that cardholders will be able to redeem points with Instacart in a flexible way. Other features will include World Elite Mastercard benefits, perks and savings, according to a press release.
Nerdy tip: Through Jan. 31, 2022, existing Chase cardholders can get a free Instacart Express membership (a value of $9.99 per month) until April 30, 2022, when they sign up on Instacart with an eligible Chase credit card. They’ll also get $10 off their next order of $35 or more and free deliveries and reduced service fees on all orders of $35 or more. Terms apply.
The card will be 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.
