myWalgreens Credit Card Review 2024

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.

• No annual fee
• Welcome bonus: $25 Walgreens Cash rewards when eligible cardholders open an account and make their first purchase within 45 days
• 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
• Redeem rewards at Walgreens checkout
• $0 Fraud liability

Earning Rewards

The myWalgreens card will 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. There is no limit to the rewards a cardholder can earn. Walgreens cash rewards expire on a rolling 12-month basis from the date earned.

The card also offers a welcome bonus: $25 Walgreens Cash rewards when eligible cardholders open an account and make their first purchase within 45 days.

Redeeming Rewards

Rewards earned with the myWalgreens card may be redeemed at Walgreens stores, online at Walgreens.com or via the Walgreens app. Redemptions are made in amounts of $1, $2, $3, $4, $5, $10, $20 or $50 with a maximum daily redemption amount of $100.

You can also redeem your rewards for select charitable donations by logging into your Walgreens account and selecting from the available charities listed.

Rewards Potential

To determine the rewards potential of the myWalgreens Mastercard®* we have to consider what an American household might spend on a credit card each year. Forbes Advisor uses data from various government agencies in order to determine both baseline income and spending averages across various categories. The 70th percentile of wage-earning households bring in $116,000 annually and we base spending on that number.

Forbes Advisor estimates that the household has $36,177 in expenses that can be reasonably charged to a credit card. If we assume that 80% of a family’s $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. If our sample household spends $6,692 at grocery stores, $200.76 in Walgreens cash rewards will be earned. All remaining spending of $28,853 that can reasonably be charged on a credit card will earn $288.53 in Walgreens cash rewards for a yearly total of $546.17 in Walgreens cash rewards.

• $0 fraud liability. Cardholders aren’t liable for unauthorized purchases.
• FICO Score access. No-added-cost access to your credit score.
• Redeem at checkout. Redeem rewards at Walgreens checkout instantly.
• Exclusive offers. Walgreens product offers and deals unique to cardholders.

Interest Rates

• Regular APR: 22.99%, 28.99% and 31.99% variable
• Purchase intro APR: N/A
• Balance transfer intro APR: N/A

Fees

• Annual fee: $0
• Balance transfer fee: N/A
• Foreign purchase transaction fee: 3% of each transaction.

myWalgreens Mastercard®* vs. Chase Freedom Flex℠

The Chase Freedom Flex℠ has powerful earning power, including rewards of 3% cash back on drugstore purchases. Though this isn’t a 5% to 10% reward on purchases at specific pharmacies, it isn’t anything to shy away from, especially considering the card’s other categories: Freedom Flex cardholders earn 5% cash back on up to $1,500 in combined purchases in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases. Like the myWalgreens card, the Freedom Flex has a $0 annual fee. Unlike the myWalgreens card, the Freedom Flex offers a 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 20.49% - 29.24% applies. Balance transfer fee of up to 5% (min. $5) of the amount of each transfer applies. It also has a welcome bonus: $200 bonus after spending $500 on purchases in the first 3 months from account opening. The Freedom Flex’s extra benefits are where the card really goes to work: purchase protection, extended warranty protections, cell phone protection, trip cancellation/interruption insurance and an auto rental collision damage waiver are all offered.

There’s 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. The myWalgreens Card can’t compete with much of what the Freedom Flex offers, but there are likely people who shop often enough at Walgreens that this card will still make sense—especially as an additional card to use primarily at Walgreens.

myWalgreens Mastercard®* vs. Citi Double Cash® Card

The Citi Double Cash® Card sets the standard for simple to use cash-back credit cards. The card earns 2% cash back on all purchases—1% when purchases are made and another 1% when they’re paid off, as well as offering a 0% intro APR on balance transfers for 18 months. After that, the standard variable APR will be 19.24% - 29.24%, based on creditworthiness. An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the fee will be 5% of each transfer (minimum $5). This makes it a great balance transfer card option as well.

The main takeaway here should be that for those looking for an easier-to-remember earning structure that will still return solid rewards, a card like the Citi Double Cash will probably be a better option for those who can get it. Outside of health and wellness purchases the myWalgreens card would make an excellent companion card paired with the Double Cash.

myWalgreens Mastercard®* vs. Capital One Walmart Rewards® Mastercard®*

Another pharmacy-related card is the Capital One Walmart Rewards® Mastercard®*. The Walmart card earns 5% cash back on purchases made at Walmart.com and the Walmart app, including grocery pickup and delivery, 2% cash back on restaurants and travel, and at Walmart Stores, Walmart & Murphy USA fuel stations and 1% back everywhere else. It doesn’t offer a higher reward on Walmart-branded products like the myWalgreens card does on Walgreens-branded products but, like the myWalgreens card, it has a $0 annual fee.

The Walgreens card is, in our opinion, the better of these store-branded cards for those indifferent to Walmart vs. Walgreens. The rewards with the myWalgreens card are simply better, but only for those who shop at Walgreens regularly.

The great return on Walgreens products and across Walgreens stores makes it an excellent card for those who shop at Walgreens or pharmacies in general, as well as anyone with healthcare costs they pay for with a credit card.

We don’t know of many other cards that offer specific reward earning at healthcare providers—nor many others that offer better rewards at drugstores, regardless of brand. There are many drugstore-rewarding cards out there, but healthcare visits and other wellness purchases aren’t usually considered to be part of those categories.

Forbes Advisor considers a variety of criteria when assigning credit cards a rating. Cards are graded based on numerous factors, including:

• Annual fees
• Welcome bonus offers
• Ongoing earning rates
• Value of individual points or miles
• Included travel or merchant credits
• Additional cardholder benefits

Card features we expect cardholders to use the most often are weighted more heavily in our ratings. Altogether, the factors came together to provide a star rating for each individual card.

Read more: How Forbes Advisor Rates Credit Cards