Mastercard introduces new grocery delivery and streaming perks

While most of a credit card's perks come from the card issuer (usually a bank), the card networks (think Visa, Discover, etc.) themselves also offer some benefits. And if you have a World or World Elite Mastercard, you likely have a few new goodies to enjoy.

In October 2023, Mastercard announced it would provide new on-demand grocery delivery and streaming subscription benefits on eligible World or World Elite Mastercards. Below, CNBC Select explains how to access these offers and which cards to consider — even if you don't have a Mastercard yet.

Eligible Mastercard cardholders can receive access to new Instacart and Peacock benefits such as discounts and statement credits totaling almost $200 in potential annual value.

Instacart free trial and discounts

Cardholders with an eligible World Mastercard or World Elite Mastercard can get a two-month free trial with Instacart+, as well as $10 off their second eligible Instacart purchase each month. Note that this offer is only available to those new to Instacart+. The membership costs $9.99 per month and comes with its own perks like free delivery on orders over $35, lower service fees and 5% credit back on eligible pickup orders.

Peacock subscription statement credits

Those with an eligible World Mastercard or World Elite Mastercard can also receive statement credits on a Peacock streaming subscription:

• Cardholders with a qualifying World Mastercard or World Elite Mastercard and new to Peacock Premium get a $3 statement credit on the Peacock Premium monthly streaming subscription.
• Eligible World Elite Mastercard cardholders will receive a $5 monthly statement credit on Peacock Premium Plus — a higher subscription tier with no ads, an ability to download and watch select titles offline and live access to a local NBC channel. Cardholders who already have a Peacock Premium Plus subscription don't qualify for this credit.

On top of that, Mastercard cardholders receive access to the card network's Priceless Experiences such as NBCUniversal's studios, BravoCon and more.

Other Mastercard benefits

Besides the new perks, eligible Mastercard World and World Elite cardholders will continue having access to the previously existing benefits.

World Mastercard benefits include:

• Zero liability protection
• Mastercard Global Services
• ID theft protection
• ShopRunner membership
• $5 Lyft credit per month when you take at least three Lyft rides in a month
• 13-month McAfee Total Protection subscription
• Mastercard Golf
• Complimentary professional travel services
• Mastercard Hotel Stay Guarantee on eligible stays
• Lowest hotel rate guarantee on qualifying stays booked through Mastercard Travel & Lifestyle Services
• Mastercard Airport Concierge

World Elite Mastercard also offers:

• World Elite Concierge service
• Mastercard Travel Rewards

There are three levels to the Mastercard benefits: Standard, World and World Elite. If you don't see the words "World" or "World Elite" on it, you probably have a Standard tier card. To be sure, you can always contact the card issuer and ask about your card's Mastercard tier. And even if you do have a World or World Elite card, double-check with your card issuer about your access to these benefits, as they can vary by issuer.

One World Elite Mastercard that pairs well with these network benefits is the *Capital One Savor Cash Rewards Credit Card, thanks to its high rewards rates at grocery stores and on streaming services. Cardholders earn 4% cash back on dining and entertainment, 4% on eligible streaming services, 3% at grocery stores and 1% on all other purchases. Plus, the Capital One Savor offers 10% cash back on Uber and Uber Eats purchases, as well as the Uber One monthly membership fee covered through Nov. 14, 2024.

The Chase Freedom Flex℠ is another excellent World Elite Mastercard option to consider. This card is rich on cash back rewards. The welcome offer also sweets the deal — new cardholders get $200 cash back after spending $500 on purchases in their first three months from account opening.

That said, Mastercard isn't the only card network offering streaming or Instacart benefits. For example, the Visa Chase Sapphire Preferred® Card gives you six months of complimentary Instacart+ membership if you activate it by July 31, 2024. In addition, you can earn up to $15 in statement credits for Instacart purchases through the same date. Another perk is a complimentary DoorDash DashPass subscription for at least a year if you activate it by the end of 2024.

As for streaming subscriptions, you can earn 3X points on select streaming services. You'll also earn 5X points on travel purchased through Chase Travel℠, 3X points on dining, 3X points on online grocery purchases (excluding Target, Walmart and wholesale clubs), 2X points on all other travel and 1X points on all other purchases.

If you already have an eligible card with streaming and grocery perks, it makes sense to take advantage of them — provided they already fit your spending patterns. Drastically changing your spending habits to match a credit card's benefit is the tail wagging the dog, and you shouldn't blow through your grocery budget or sign up for a streaming service you'll never use just because there's a deal available.

With the addition of new benefits, World and World Elite Mastercard cardholders can save on grocery delivery and streaming. If your card is eligible and the offers would put some money back in your pocket, make sure to activate the offers using that card.

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Disclosure: NBCUniversal is the parent company of NBC and CNBC.

*Information about the Capital One Savor Cash Rewards Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.