Update 5/16/23: Signup offer is now at $250 (Update 2/7/23: there’s a new signup bonus offer for $300 through 2/27/23. (Direct Link))
As expected, Chase and Instacart team up to launch the new Instacart World Elite Mastercard with no annual fee and 5% back at Instacart.
Signup Offer
Direct Card Link | Press Release | $250 link
- Limited-time offer: The first 10,000 to get the card before 8/4/22 will get a $200 Instacart credit
- After that the offer will change to a $100 Instacart credit
- Plus get 1 free year of Instacart+ (this auto-renews)
Card Rewards
- 5% Cash back on Instacart app and Instacart.com purchases
- 5% Cash back on travel purchased through the Chase Travel Center, including flights, hotels and more
- 2% Cash back at restaurants, gas stations, and on select streaming services
- 1% Cash back on all other purchases
- Choose to receive a direct deposit or a statement credit. There’s no minimum to redeem.
- Coming Soon: Use your cash back rewards to pay for all or part of purchase in the Instacart app or on Instacart.com.
Other Details
- No annual fee
- No foreign transaction fees
- Mastercard World Elite benefits
- Baggage Delay Insurance for delays of over 6 hours. Up $100 a day for 3 days.
- Extended Warranty Protection for an additional year.
- Purchase Protection for up to $500 per claim against damage or theft within 120 days of purchase.
- Lost Luggage Reimbursement, up to $3,000 per passenger.
- Auto Rental Collision Damage Waiver (secondary).
- This probably falls under the 5/24 rule, based on what we’re seeing thus far
Our Verdict
The $200 Instacart credit with no spend requirement is nice, just remember you are using up a 5/24 spot. Instacart+ costs $99/year and adds a nice value. Some of us recently got a free year of Instacart+ from the Sapphire Reserve card which makes that benefit not so useful at the moment.
Beyond the initial bonus, the main interesting thing is 5% back on Instacart purchases which is useful for heavy Instacart shoppers. It’s on par with the 5% Amazon and 5% Target REDcard offerings.