Instacart Mastercard Credit Card Review 2022 – Forbes Advisor

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Earn rewards

With the Instacart Mastercard®, you’ll earn 5% cash back on the Instacart app and purchases on Instacart.com, and on trips purchased through the Chase Travel Center, 2% cash back at restaurants, resorts -service and on select streaming services and 1% cash back on all other purchases.

There is also an offer for new cardholders: $100 Instacart credit plus 1 year free of Instacart+ automatically upon approval.

Redeem rewards

Chase makes it easy to redeem the rewards you earn with the Instacart Mastercard®. You can get cash back as a statement credit to reduce your card balance or as a direct deposit to a bank account, both with no minimum redemption amount.

You will also have the ability to redeem rewards for travel through the Chase Travel Center.

And while this option wasn’t immediately available when the Instacart Mastercard® was rolled out, Chase noted that in fall 2022, cardholders could use rewards to pay for all or part of Instacart orders. No minimum redemption will be required.

Rewards potential

Forbes Advisor uses data from various government agencies to determine both basic incomes and spending averages in various categories. The 70th percentile of salaried households brings in $107,908 a year and we base our spending on that figure.

We will look at what such a household could earn in cash using the Instacart Mastercard.

Forbes Advisor estimates that $32,072 in annual expenses can reasonably be charged to a credit card. Of this number, $6,322 per year is generally spent on groceries. If these purchases are made through Instacart and earn 5% cash back, that would mean $316.10 earned. It should be noted that while some popular grocery rewards cards have a spending cap, after which your earning rate decreases, the Instacart Mastercard does not have a spending cap on the 5% cash back rate. on Instacart purchases – or any of its cash back. categories, by the way.

We also calculate an annual expenditure of $3,762 on travel. If you make all of your travel reservations through the Chase portal and earn 5% cash back, you will earn $188.10 on those purchases.

Then, consider roughly $3,849 spent on gas, $4,511 on dining, and $722 on streaming. With 2% cash back, these spends would earn $76.98, $90.22, and $14.44, respectively.

Finally, that leaves $12,906 in expenses that can reasonably be charged to a credit card. At 1% return, you would earn $129.06. In total, you’re looking at $814.90 cash back per year with this card.

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