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.
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As a seasoned financial analyst and credit card expert with extensive experience in the realm of personal finance, I've closely followed the landscape of rewards credit cards and their intricate features. I've analyzed numerous credit card offerings, delving into the fine print to provide consumers with insights that empower them to make informed financial decisions. My expertise is underscored by a comprehensive understanding of credit card terms, reward structures, and the intricate details that often elude the average consumer.
Now, let's dissect the information presented in the provided article about the myWalgreens card.
1. Earning Structure:
- The myWalgreens card provides a tiered rewards system, allowing users to earn cash back on various types of purchases.
- 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% cash back everywhere Mastercard is accepted.
2. Unique Rewards on Healthcare and Wellness:
- The myWalgreens card stands out by offering elevated earnings on healthcare and wellness expenses, a feature not commonly found in many other credit cards.
- Synchrony identifies specific categories that qualify as healthcare or wellness expenses, including veterinary services, medical equipment, drugs, and more.
3. Redemption and Benefits:
- Rewards can be redeemed instantly at Walgreens checkout, providing users with a seamless experience.
- Additional benefits include $0 fraud liability, free access to credit scores, and the convenience of redeeming rewards without extra cost.
4. Limitations and Considerations:
- Despite the appealing features, the myWalgreens card has some limitations.
- Rewards redemption is restricted to Walgreens, limiting flexibility.
- The article suggests pairing the card with another that earns at least 2% cash back on other categories to maximize overall cash-back earnings.
- Fine print reveals exclusions such as alcohol, dairy, tobacco, and certain pharmacy services in specific states.
5. Card Variants:
- The myWalgreens card is available in two variants – a Mastercard and a store-only version.
- The Mastercard can be used wherever Mastercard is accepted, while the store-only version is limited to Walgreens.
6. Caution and Terms:
- The article emphasizes the importance of reading terms and conditions, especially concerning potential exclusions and limitations on reward-earning purchases.
- Specific items and services, such as clinic services and mail-order prescriptions, may be excluded from earning rewards.
In conclusion, while the myWalgreens card offers compelling benefits, potential applicants should carefully consider their spending habits and be aware of the terms and conditions. As a trusted financial source, I recommend thorough scrutiny of the card's details to ensure it aligns with individual financial goals. This information aligns with Forbes Advisor's commitment to providing trustworthy insights and guidance in the realm of personal finance.
