Instacart Mastercard Credit Card 2022 Review – Forbes Advisor

Earning Rewards

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

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

Redeeming 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 lower your card balance or as a direct deposit to a bank account — both with no minimum redemption amount.

You’ll also have the option of redeeming rewards for travel through the Chase Travel Center.

And though this option wasn’t available immediately when the Instacart Mastercard® rolled out, Chase noted that by fall of 2022, cardholders would be able to 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 in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households bring in $ 107,908 annually and we base spending on that number.

We’ll examine what such a household could earn in cash back using the Instacart Mastercard.

Forbes Advisor estimates that $ 32,072 in annual expenses can be reasonably charged to a credit card. Out of that number, $ 6,322 per year typically goes toward groceries. If that shopping is done via Instacart and earns 5% cash back, that would mean $ 316.10 earned. It’s worth noting that while some popular grocery rewards cards have a spending cap, after which your earning rate drops, 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, for that matter.

We also calculate a $ 3,762 annual spend on travel. If you make all your travel bookings through the Chase portal and earn 5% cash back, you’d earn $ 188.10 back on those purchases.

Next, let’s factor in an estimated $ 3,849 spent on gas, $ 4,511 on dining and $ 722 on streaming. At 2% cash back, that spending 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% back, you’d earn $ 129.06. In total, you’re looking at $ 814.90 a year in cash back with this card.

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