Walgreens has launched a new rewards credit card that’s a little different. Sure, it pays rewards on groceries and other purchases but saves its highest rewards for purchases that promote good health.
The pharmacy retailer says the myWalgreens Mastercard and the myWalgreens credit card are the first payment options that reward healthy choices. Both are issued by Synchrony Bank.
“Today’s launch of the myWalgreens Credit Card is just the beginning in the evolution and expansion of our financial services offerings,” said Maria Smith, vice president of payments & financial services at Walgreens. “Most credit cards reward customers for what they buy, but not how they live.”
The biggest rewards are on Walgreens purchases. Cardholders can earn up to 10% Walgreens Cash rewards when they use their myWalgreens Credit Card to make eligible purchases in-store and online.
Walgreens Cash
Some items provide 10% Walgreens Cash rewards, other purchases offer 5%. At the same time, myWalgreens Mastercard cardholders earn 3% Walgreens Cash rewards on all eligible grocery and health and wellness purchases outside of Walgreens.
If you have a doctor’s appointment or a scheduled visit to the dentist, you can earn 3% Walgreens Cash rewards if you pay with your new Walgreens card. Cardholders also get 1% Walgreens Cash rewards on eligible purchases wherever Mastercard is accepted.
They earn $25 in Walgreens Cash rewards when they make their first purchase within 45 days of opening an account.
Walgreens Cash isn’t exactly the same thing as cash. Whereas other rewards credit cards may credit a cardholder’s account with cash to be spent anywhere, Walgreens Cash is used to make purchases at Walgreens.
Expansion of the current loyalty program
It’s an expansion of the retailer’s current loyalty program that encourages consumers to do more of their everyday shopping at the drugstore. The credit cards simply offer an easy way to do it.
“Synchrony is proud to deepen our health and wellness expertise by partnering with Walgreens and to bring the myWalgreens Credit Card to market,” said Alberto Casellas, CEO at Synchrony Health and Wellness. “Now more than ever, consumers are focused on living well and this card offers a dynamic, new customer experience designed to meet their unique needs.”
Consumers may apply for the cards online at Walgreens.com/CreditCard or on the Walgreens mobile app. In-store shoppers can apply at the register, by scanning QR codes on store signage or by using Synchrony’s direct-to-device technology, which sends a unique application link directly to the customer via text message.
The cards carry no annual fee. The myWalgreens Mastercard can be used anywhere Mastercard is accepted.