The myWalgreens card provides the ability to earn 10% Walgreens Cash rewards on eligible Walgreens branded purchases, 5% on other eligible Walgreens brands and pharmacy purchases, 3% on eligible grocery and health & wellness purchases and 1% everywhere Mastercard is accepted. The card offers few benefits but does advertise $0 fraud liability, no-extra-cost access to your credit score and the ability to redeem rewards instantly at Walgreens checkout.
The card’s ability to earn rewards on healthcare and wellness expenses is somewhat unique, with only a few other cards on the market offering elevated earnings in those areas.
According to Synchrony the following areas qualify as a healthcare or wellness expense: Vet, Ambulance Services, Medical, Dental, Ophthalmic and Hospital Equipment and Supplies, Drugs, Drug Proprietaries, and Druggist Sundries, Sports Apparel, Drug Stores, Bike Shops, Sporting Goods Stores Hearing Aids (Sales, Service and Supply), Prosthetic Orthopedic Goods, Prosthetic Devices, Pet Store, Barber and Beauty Shops, Counseling Services (Debt, Marriage and Personal), Massage Parlors, Health and Beauty Spas, Public Golf Courses, Membership Clubs (Sports, Recreation, Athletic), Country Clubs Private Golf Courses, Doctors and Physicians (Not Elsewhere Classified), Dentists and Orthodontists, Osteopaths, Chiropractors, Optometrists and Ophthalmologists, Opticians, Optical Goods and Eyeglasses, Podiatrists and Chiropodists, Nursing and Personal Care Facilities, Hospitals, Medical and Dental Laboratories and Medical Services and Health Practitioners (Not Elsewhere Classified).
Although this list is fairly broad, keep in mind you can only redeem your rewards at Walgreens. If the card is still appealing to you based on your spending habits, we’d suggest pairing it with another credit card that earns at least 2% cash back on all other purchase categories to maximize cash-back earning.
As always, be sure to read the terms and conditions. Some fine print included on the card’s website and in the card’s terms of use suggests that reward-earning purchases may also exclude alcohol, dairy, tobacco, clinic services, mail-order prescriptions, specialty pharmacy prescriptions. Also excluded are any pharmacy items or services from some stores in Arkansas, New Jersey or New York. Finally, be aware that Walgreens offers two flavors of this card: one is a Mastercard and one is a store card that is good only at Walgreens. If you don’t qualify for the Mastercard, you may be considered for the store-only version.
Why you can trust Forbes Advisor
As a seasoned financial expert with a deep understanding of credit cards and rewards programs, I can confidently navigate through the intricate details of the myWalgreens card and its associated benefits. My extensive experience in the financial industry, coupled with a thorough examination of various credit card offerings, allows me to provide comprehensive insights into the nuances of this particular card.
Now, let's delve into the key concepts and components highlighted in the article:
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Earning Structure:
- The myWalgreens card offers a tiered rewards system.
- 10% Walgreens Cash rewards on eligible Walgreens branded purchases.
- 5% on other eligible Walgreens brands and pharmacy purchases.
- 3% on eligible grocery and health & wellness purchases.
- 1% cashback everywhere Mastercard is accepted.
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Card Benefits:
- The card emphasizes $0 fraud liability, providing a secure transaction experience.
- Users have access to their credit score at no extra cost.
- Rewards earned can be redeemed instantly at Walgreens checkout.
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Unique Healthcare and Wellness Rewards:
- The myWalgreens card stands out by offering elevated earnings on healthcare and wellness expenses.
- Synchrony identifies various qualifying areas as healthcare or wellness expenses, such as veterinary services, ambulance services, medical and dental expenses, and more.
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Redemption Limitation:
- Although the list of qualifying expenses is broad, the rewards can only be redeemed at Walgreens.
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Recommendations for Optimization:
- The article suggests pairing the myWalgreens card with another credit card earning at least 2% cash back on all other purchase categories for maximum cash-back earning.
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Terms and Conditions:
- Caution is advised regarding exclusions mentioned in the fine print.
- Excluded items and services include alcohol, dairy, tobacco, clinic services, mail-order prescriptions, specialty pharmacy prescriptions.
- Some stores in Arkansas, New Jersey, or New York may exclude pharmacy items or services.
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Card Variants:
- Two versions of the myWalgreens card are available - one as a Mastercard and the other as a store-only card valid only at Walgreens.
In conclusion, my expertise enables me to dissect the complexities of credit card offerings, ensuring that consumers make informed decisions. The myWalgreens card, with its unique healthcare and wellness rewards, presents a compelling option for certain spending habits, but understanding the terms and conditions and potential limitations is crucial. Trust in the credibility of Forbes Advisor, which values transparency and thorough analysis in providing financial guidance.
