This card shines for this use, but overall the star ratings may differ when compared to other cards. If you want a card with a little more flexibility, the Chase Freedom Unlimited offers 3% back on all drugstore purchases, plus 3% back on dining, 5% back on travel booked through Chase Ultimate Rewards and 1.5% back on all other purchases. Some fine print included on the cards website and in the cards terms of use suggests that reward-earning purchases may also exclude alcohol, dairy, tobacco, clinic services, mail-order prescriptions, specialty pharmacy prescriptions. Exclusions apply. Previously, she was an editor at CreditCards.com. Best credit cards for the annual fee of April 2023 - Cardratings.com Do credit card annual fees count toward bonus spending requirements? Walgreens is introducing the myWalgreens Credit Card and myWalgreens Mastercard, both of which are issued by Synchrony Bank and offer Walgreens Cash rewards based on eligible purchases. Theres really no contest in terms of overall benefit: the Chase Freedom Flex offers some of the best simultaneous benefits and earnings available among cards with no annual fee. Credit card issuers are legally required to disclose all annual fees when you apply to open an account. Operating more than 9,000 retail locations across America, Puerto Rico and the U.S. Virgin Islands, Walgreens is proud to be a neighborhood health destination serving approximately 8 million customers each day. Earn Unlimited 2x miles on every purchase, every day, Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months. In terms of value, $1 of Walgreens Cash would be converted to a $1 discount when redeemed. Here is a list of our partners. A good way to approach this is to consider the primary use for any given card. that ranges from Or, if you need a little longer to pay off a balance, the BankAmericard credit card comes with 0% intro APR on Purchases for 21 billing cycles and 0% intro APR on Balance Transfers for 21 billing cycles for any balance transfers made in the first 60 days, and then the ongoing APR of 15.74%-25.74% Variable APR. However, under the right circumstances, one or more annual fee cards can pay off by unlocking valuable earning opportunities, perks and other benefits. You can simply use your Walgreens Credit Card wherever Mastercards are accepted. For an explanation of our Advertising Policy, visit. Chase Sapphire Preferred Credit Card Review, High cash-back rewards in several categories of spending, No enrollment is required, cash back is automatic, Comes with several travel benefits and protections, 6% cash back at U.S. supermarkets is capped at $6,000 in annual spending (then 1%). You won't be able to get rid of the fee without closing the card. If you're paying a $500 annual fee but the value of the perks you're receiving doesn't equal or exceed $500, then the fee may not be worth it for you. Apple Card just gave you one great reason to sign up (and it has So, a little digging through the benefits to see what fits your lifestyle is important as understanding what the benefits are and if you will indeed use them at this stage can make the difference. The myWalgreens Mastercard customer service number is (855) 945-3593. Learn more. If you qualify, please update your user profile and check the box marked "Check here to register as an accredited member of the news media". For cards that do charge a fee, the amount can vary. Can You Build Credit With a Prepaid Credit Card? HUO0~_q/doi,.4! Paul Soucy has led the Credit Cards content team at NerdWallet since 2015. The Walgreens card earns rewards in the contact of Walgreens Cash, which you cans redeem among Walgreens press Duane Reade brands, as well as on walgreens.com. Receive 1 Free Night Award every year after your Card renewal month. You will lose benefits, but if after some analysis you find that the fee doesnt justify those benefits, downgrading is a perfectly reasonable thing to do, especially as cancelling a card can have an adverse effect on your credit score. Caitlin Mims is a content management specialist on the credit cards team at NerdWallet. Credit Card Annual Fees: Are They Worth It? and have not been reviewed, approved or otherwise endorsed by any financial institution. Read More: How Forbes Advisor Rates Credit Cards. They will have access to contactless shopping experiences and mobile-first money management features as well as the opportunity to earn accelerated rewards. $200 Cash Rewards Annual Fee $0 Regular APR 19.74%, 24.74%, or 29.74% variable APR Credit Score Excellent, Good (700 - 749) Editorial Review Pros & Cons Card Details Best 2% Cash Back. These are provided as guidelines only and approval is not guaranteed. For example, some airline credit cards offer a free checked bag, and some cards offer shopping protections that can provide peace of mind (such as the extended warranty protection provided by the Chase Sapphire Preferred Card). Rewards earned with the myWalgreens card may be redeemed at Walgreens stores, online at Walgreens.com or via the Walgreens app. And, some issuers waive annual fees on select credit cards for active-duty military members. 6% Cash Back on select U.S. streaming subscriptions. Regular APR. Holders of personal, business, and corporate Platinum cards and Centurion cards from American Express, for example, are able to use the network of Centurion Lounges, including the newest addition to the network, the Centurion Lounge in Seattle. Synchronys application technology and Quickscreen pre-approval engine streamline the process, the companies said. can be used anywhere Mastercard is accepted, and it earns Walgreens Cash on some non-Walgreens purchases. The cards rollout is accompanied by digital features powered by Synchronys consumer financing technology, which allows customers to apply for a myWalgreens card online or in the Walgreens mobile app. myWalgreens Mastercard has a Earn $35 Walgreens Cash rewards 2/26/23 thru 4/29/23 when you open an account and make your first purchase within 45 days. Check here before booking an award fare. Pros and Cons of Refinancing Your Mortgage, Questions to Ask Before Refinancing Your Mortgage, SuperMoney's Student Loan Refinance Marketplace, How To Get The Best Student Loan Refinance Rates. Offer ends 5/3/23. Getting a Mortgage With a Smaller Down Payment and No PMI. Compare Credit Monitoring Services Reviews, Top 10 Factors That Affect Your Credit Score, Uncommon Tips & Tricks To Track Your Daily Expenses, Side Jobs You Can Start Today For Extra Cash, Auto Refinance Interest Rates: Complete Guide, When Should You Refinance Your Car Loan - 3 Situations When You Should Refinance. You can use your Walgreens credit card anywhere that accepts Mastercards. Forbes Advisor created additional star ratings so that you can see the best card for specific needs. Any opinions, analyses, reviews or recommendations expressed here are those of the authors alone, This fee is equal to: 1. 5 0 obj Plans created after that will have a monthly plan fee up to 1.33% of each eligible purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors. The support contact email for myWalgreens Mastercard is customer.service@mail.synchronybank.com. Walgreens introduces a 'health' rewards credit card We'd love to hear from you, please enter your comments. Youll earn a bonus with your first purchase, Many credit card sign-up bonuses require you to spend a certain amount within three to six months, but the. Another pharmacy-related card is the Capital One Walmart Rewards Card*. You cant earn Walgreens Cash on certain store purchases, including alcohol, dairy, tobacco, stamps, gift cards and lottery tickets. myWalgreens Credit Card 2023 Review - Forbes Advisor The myWalgreens Credit Card offers 10% Walgreens Cash rewards on eligible own-brand Walgreens products and 5% Walgreens Cash rewards on eligible brands and pharmacy purchases. The cards 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. Something went wrong. Get a free consultation from a leading tax expert, View all credit cards offered by Synchrony Bank, Please write a review to submit your vote, Compare Business Checking Accounts Reviews. The myWalgreens Credit Card has no annual fee and members can use the card at any of Walgreens 9,000 locations, online and in app. Enrollment required. Your financial situation is unique and the products and services we review may not be right for your circumstances. What Are The Different Types of Life Insurance? Terms and Conditions Apply. And that last part is critical, as your unique set of circumstances mean that some cards that work for you likely wont work for someone else. Is it Worth Paying an Annual Fee for a Credit Card? No single credit card is the best option for every family, every purchase or every budget. For example, if . So today, I'll consider various aspects related to credit card annual fees, including when it may be worth paying an annual fee. Aug 17, 2021 01:59PM EDT. He also built a successful freelance writing and editing practice with a focus on business and personal finance. This card offers exclusive discounts, special promotions, and access to exclusive member benefits. How To Get a Personal Loan With Fair Credit, How to Use a Personal Loan to Build Credit. Editorial disclaimer: Opinions expressed here are the authors alone, not those of any bank, credit card issuer, airline or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities. But paying an annual fee can often unlock earnings and benefits that offset the annual fee. represent all financial services companies or products. For example, the no-annual-fee Capital One VentureOne Rewards Credit Card earns 1.25 miles per dollar spent, while the $95 annual fee Capital One Venture Rewards Credit Card earns 2 miles per dollar spent. Walgreens Credit Cards are issued and managed by Synchrony Bank. Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 18.74% to 29.74%. 3% in Walgreens Cash on grocery and health and wellness purchases outside of Walgreens. Paying an annual fee isn't always a bad thing, especially if you use all the rewards that come with your credit card. Improve earnings, maximize rewards and track progress toward dream trips. The world of credit cards can come across as an ever changing minefield of fees versus benefits, and navigating this sea of terms and conditions, promotions, rates and benefits can seem incredibly daunting. Buying a Mobile Home: What You Need to Know, Compare Motorcycle and ATV Insurance Reviews, Compare Personal Watercraft Insurance Reviews, Considering Renters Insurance? Personal Loan Vs. Line Of Credit: Which Is Better? The annual credits, bonuses or free nights provided by select cards can also justify paying an annual fee. Best Secured Credit Cards of May 2023 - NerdWallet If you dont qualify for the Mastercard, you may be considered for the store-only version. Walgreens Cash rewards can be redeemed at any Walgreens store or online. They are a common type of credit card fee. and "Paying a credit card annual fee just isn't worth it.". Why do some credit cards have annual fees? New Walgreens credit card offers wellness rewards After all, the card with an annual fee will often offer a higher sign-up bonus that can make it worth picking. Our points-obsessed staff uses a plethora of credit cards on a daily basis. Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months. Please try again later. Walgreens is debuting two credit cards as part of its efforts to expand its financial services offerings. The Chase Freedom Flex* has powerful earning power, including rewards of 3% cash back on drugstore purchases. Is applying for a Walgreens card at the store a hard inquiry? All rights reserved. myWalgreens, for the one and only Mindy Kaling, myWalgreens Credit Card cardholders can earn, myWalgreens Mastercard cardholders also earn, Cardholders will earn $25 in Walgreens Cash rewards when they make their first purchase within 45 days of opening an account. Consider this: A CD is usually around 5% APY. She's been quoted in USA Today, The Chicago Tribune, and the Associated Press, and her work has been cited in several books. Cards that usually have an annual fee usually provide some extra benefit, such as: Because an annual fee increases the cost of having a credit card, any benefit you're getting from your credit card should exceed that cost. Exactly what it sounds like, a retention offer flips the script on credit card companies by asking them what they are willing to do to keep you as a customer. I've heard many people say, "Why would I pay to have a credit card when there are so many options without annual fees?" If your credit score is preventing you from qualifying for this credit card, check out our guide for the best credit cards for bad credit. If you are interested in a rewards card but unsure whether the fee is worth it, look for one with a no-fee first year to assess whether the benefits outweigh the costs. 1.5%. Chauncey grew up on a farm in rural northern California. This site does not include all credit card companies or all available credit card offers. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. Depending on your situation, carrying one of these cards can easily outweigh the annual fee associated with the card. However, this does not influence our evaluations. SuperMoney.com is an independent, advertising-supported service. 4 0 obj Compare real offers from multiple lenders. Past performance is not indicative of future results. Essentially, a fee for the convenience of not having to carry cash, its hard to argue that isnt a fair tradeso fair, in fact, that annual fees have endured for the intervening seven decades since the idea was introduced. Your financial situation is unique and the products and services we review may not be right for your circumstances. Annual fee of $95. If we assume that 80% of a familys $632 spent on drugstore purchases are made at Walgreens on Walgreens-branded items, ($505.60), $50.56 in Walgreens cash rewards will be earned at 10% back in those areas and the remaining $126.40 in drugstore spending would earn 5% back for $6.32 worth of rewards. We do not offer financial advice, advisory or brokerage services, nor do we recommend or advise individuals or to buy or sell particular stocks or securities.