Walgreens has launched a credit card program that rewards customers for buying items tied to health and wellness, the retail pharmacy giant said Aug. 16.
Under the new program, Walgreens is offering two credit cards, the myWalgreens Mastercard and the myWalgreens Credit Card. The retail pharmacy will offer cardholders cashback rewards at more than 9,000 Walgreens locations, Walgreens-owned Duane Reade locations, on the Walgreens mobile app and wherever Mastercard is accepted.
Users of the company-branded credit card can earn 10 percent Walgreens cash rewards on Walgreens-branded products and 5 percent on other items and pharmacy purchases. There is no limit to the rewards earned.
Mastercard users will earn 3 percent Walgreens cash rewards on health and wellness purchases outside of Walgreens, including healthcare provider visits. The credit card will also offer 1 percent cash rewards on eligible purchases where Mastercard is accepted.
Walgreens said the credit card offerings aim to reward consumers for making healthy decisions by offering savings on health and wellness purchases. Walgreens said the credit cards are just the start of its expansion to offer more financial services.
"Most credit cards reward customers for what they buy, but not how they live," said Maria Smith, vice president of payments and financial services at Walgreens. "The myWalgreens Credit Card aims to change that."