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Credit Cards

Chase to launch Instacart co-branded credit card

Chase announced Wednesday the first Instacart co-branded credit card. Here's what you need to know.

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Since June 2020, Chase and Instacart have partnered to offer benefits to Chase cardholders, including complimentary Instacart Express membership and discounts. On Wednesday, the bank and food delivery service announced that they would be launching an Instacart co-branded credit card.

The Instacart Mastercard® credit card will be the first co-branded card offered by a food delivery service. The card will give consumers the ability to earn accelerated points on Instacart purchases and give several other benefits, perks and savings.

A joint press release states the card will be released to the public sometime this year.

Here's what you need to know about the new card offering, and what benefits are currently available to Chase cardholders.

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Chase announces Instacart Mastercard credit card

This announcement comes at a ripe time for grocery delivery.

According to a recent survey from PowerReviews of 8,000 U.S. grocery shoppers, 73% of respondents had purchased grocery items online within the most recent three months of being surveyed. In 2017, that number was a modest 17%.

As we approach the two-year mark of the first pandemic lockdowns, Americans have clearly adopted the stay-at-home shopping model, and this new credit card announcement is a bet that habit won't change.

Select learned that while the card is being announced today, the details of the card, including spending categories and benefits, will be released later this year.

However, we do know the card is a World Elite Mastercard®. This means cardholders will have complimentary 24/7 concierge service, cell phone protection, Shoprunner benefits and access to Priceless® experiences

But if you're already using Instacart regularly, you may benefit from the perks offered on other Chase credit cards.

Chase cards that qualify for Instacart Express

There are several dozen Chase credit cards that offer a complimentary membership to Instacart Express, which is the subscription model offering free delivery on Instacart orders over $35 and reduced service fees. Through Jan. 31, 2022 customers who sign up for an Instacart Express membership with an eligible Chase credit card can receive a free membership until April 30, 2022, and $10 off their next order of $35 or more. Once the free Express membership ends, the account auto-renews into an annual membership ($99 annually) on April 30, 2022, unless you cancel beforehand. 

Here are two cards we recommend based on the welcome offers and excellent rewards you can earn with each.

Chase Sapphire Preferred® Card

The Chase Sapphire Preferred is a great travel rewards credit card that offers a great sign-up bonus, along with bonus points on travel, dining. Plus it earns 3X points per dollar spent on online grocery purchases, including Instacart. The card has a $95 annual fee.

Chase Sapphire Preferred® Card

On Chase's secure site
  • Rewards

    Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, and $50 annual Chase Travel Hotel Credit, plus more.

  • Welcome bonus

    Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Travel℠.

  • Annual fee

    $95

  • Intro APR

    None

  • Regular APR

    21.49% - 28.49% variable on purchases and balance transfers

  • Balance transfer fee

    Either $5 or 5% of the amount of each transfer, whichever is greater

  • Foreign transaction fee

    None

  • Credit needed

    Excellent/Good

  • Terms apply.

 

Chase Freedom Unlimited®

The Chase Freedom Unlimited is a valuable cash-back credit card that earns rewards in specific categories.

The card also has a generous welcome bonus: earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back! As you spend on the card, you can earn 6.5% cash back on travel purchased through Chase Travel, 4.5% cash back on drugstore purchases and dining at restaurants (including takeout and eligible delivery service), and 3% on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases. In addition, the card comes with a 0% intro APR offer on purchases and balance transfers for the first 15 months of card membership (variable APR of 20.49% - 29.24% variable afterward). The card doesn't have an annual fee.

Chase Freedom Unlimited®

On Chase's secure site
  • Rewards

    Enjoy 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery services, 6.5% cash back on travel purchased through Chase Travel, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; and 3% cash back on all other purchases (on up to $20,000 spent in the first year). After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.

  • Welcome bonus

    INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!

  • Annual fee

    $0

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    20.49% - 29.24% variable

  • Balance transfer fee

    Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

  • Foreign transaction fee

    3%

  • Credit needed

    Excellent/Good

  • Member FDIC. Terms apply.

Bottom line

This new card announcement isn't a shock as grocery delivery has skyrocketed in popularity. However, the convenience of grocery delivery comes at a cost. It's known that Instacart can upcharge on the items you order. For example, a gallon of milk may be $4 in the store, but you may pay $5 for that same gallon when ordering through the platform. And it's also customary to tip your Instacart drivers for their services.

If you enjoy shopping online for your groceries, you may ordering online and picking up the groceries yourself to save money. In many cases, this service is offered at no additional charge to you. Don't forget to use a credit card that earns bonus points or cash back on grocery purchases.

But if you value your time more than the premium of using Instacart, you may want to keep your eye out this year for this new credit card offering.

Catch up on Select's in-depth coverage of personal financetech and toolswellness and more, and follow us on FacebookInstagram and Twitter to stay up to date.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
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