Walgreens launches health-linked credit card

Walgreens launches health-linked credit card

THE WHAT? Walgreens has announced the launch of a new myWalgreens Credit Card program, featuring two industry-first retail health and wellness credit cards. Issued by Synchrony Bank, the Mastercard and Credit Card are said to be the first of their kind to reward more personalized wellbeing choices.

THE DETAILS Credit Card holders can earn 10 percent Walgreens Cash rewards eligible Walgreens-branded products and 5 percent Walgreens Cash rewards on all other eligible brands and pharmacy purchases.

“Synchrony is proud to deepen our health and wellness expertise by partnering with Walgreens and to bring the myWalgreens Credit Card to market,” said Alberto Casellas, chief executive officer and executive vice president, Synchrony Health and Wellness. “Now more than ever, consumers are focused on living well and this card offers a dynamic, new customer experience designed to meet their unique needs – a personalized experience that makes saving, shopping and focusing on wellness easier and more rewarding.”

THE WHY? Maria Smith, Vice President of Payments & Financial Services at Walgreens, explains, “Today’s launch of the myWalgreens Credit Card is just the beginning in the evolution and expansion of our financial services offerings. Most credit cards reward customers for what they buy, but not how they live. The myWalgreens Credit Card aims to change that through building upon the strength of our myWalgreens loyalty platform and app experience, while cardholders can earn up to 10 percent Walgreens Cash rewards for making healthy choices when they use their myWalgreens Credit Card to make purchases in-store and online.”