Chase Announces Instacart Co-Branded Card to Launch This Year
For years, JP Morgan Chase has been one of the top co-branded credit card issuers in the United States. That’s only continued over the past 12 months as the bank has added the Air Canada Aeroplan Card, the World of Hyatt Business Credit Card, and others to its portfolio. Now, Chase has announced plans to launch a co-branded card in partnership with the popular grocery delivery service Instacart.
According to Chase, the Instacart Mastercard will earn accelerated points on all Instacart purchases. Additionally, the card will feature a number of perks and savings — although further details were not revealed. The new co-branded card is expected to launch later this year.
Ahead of the Instacart Mastercard’s arrival, Chase customers can continue to take advantage of special Instacart offers. Currently (available through January 31st), eligible Chase credit card customers can sign-up for a free Instacart Express membership valid through April 30th. With Instacart Express, customers will pay no delivery fees on orders over $35. Additionally, Chase cardholders who sign up for this offer will earn $10 off of their next Instacart order of $35 or more.
Commenting on the inspiration behind the upcoming co-branded offering, Instacart COO Asha Sharma stated, “Giving people access to the food they love and essentials they need is central to everything we do at Instacart. With the new Instacart credit card, we’ll be able to deliver even more ways for customers to save as they shop, and make Instacart the most affordable way for people across North America to get the food they want, from the retailers they love, delivered faster than ever before.”
Meanwhile, Chase’s President of Co-Branded cards, Ed Olebe noted, “The adoption of more convenient digital services has accelerated, and consumers’ habits have clearly evolved. We are excited to introduce a new category of co-branded cards for Chase through this partnership with Instacart, a true leader in the grocery delivery space.”
While details on the Instacart Mastercard are all but non-existent, the card could ultimately prove to be an interesting product when it hits the market later this year. Of course, its appeal will be greatly determined by what other spending categories the card emphasizes as well as how points earned from the card are redeemed. That said, Chase’s recent success with the Aeroplan Card would suggest that the bank does have some clever ideas when it comes to co-branded offerings. Either way, we’ll need to sit back and wait for more information as the year unfolds.