The new Instacart Mastercard from Instacart and Chase.

Source: Chase

Chase and Instacart announced Thursday the launch of the Instacart Mastercard. The new credit card offers cardholders 5% cash back on Instacart purchases made at more than 800 national, regional and local retail brands. The card features no annual fee.

For a limited time, the first 10,000 consumers who are approved for the card will instantly get a$200 Instacart gift card, plus one year of Instacart+. 

Following the first 10,000 cardholders, new cardholders will earn an automatic$100 Instacart credit and one free year of Instacart+. 

Instacart+ benefits include free delivery on orders over a certain size, reduced Instacart service fees, credit back on eligible pickup orders, and other exclusive benefits.

In addition to the Instacart rewards and welcome bonus, the card earns:

• 5% cash back on travel purchased through the Chase Travel Center

• 2% at restaurants, gas stations, and select streaming services

• 1% on all other purchases

Cash back isn't capped, so cardholders are free to earn as much as they can. Rewards can be redeemed for either statement credits or be deposited directly into a bank account. Eventually cardholders will also be able to use them to fund Instacart purchases. There is no minimum redemption requirement.

On top of all of that, the Instacart Mastercard comes with a surprising number of shopping and travel protections for a no annual fee credit card:

• World Elite Concierge:Get help with non-emergency tasks like making dinner reservations or finding entertainment tickets, 24/7.
• Purchase Protection:New purchases are covered against damage and theft for 120 days. Up to$500 per claim and$50,000 per account.
• Extended Warranty:If your purchase has a US manufacturer's warranty of three years or less, it could be extended for an additional year.
• Travel Accident Insurance:Get coverage against accident death and dismemberment when you use your card to pay for your airfare, bus fare, train ticket, or cruise. Coverage is up to$500,000.
• Baggage Delay Insurance:Get reimbursed for essential purchases if your luggage is delayed by six hours or more.$100 a day for three days.
• Lost Luggage Reimbursement:If your checked luggage, or a family member's, is damaged or lost by the common carrier, you're covered by up to$3,000.
• Roadside Assistance:If you run into car trouble while traveling, call your Benefit Administrator for help.
• Auto Rental Collision Damage Waiver:Decline the rental car providers insurance offer and charge the full amount to your card. Your rental will get secondary coverage against damage and theft.
• Travel and Emergency Assistance Services:Call the Benefit Administrator for legal, medical, travel or other emergency help while away from home.

If you don't already have a credit card that earns on necessary purchases like gas and groceries, you could do worse than the Instacart Mastercard. Especially for consumers who are already taking advantage of the grocery delivery service.

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