There have been rumblings of a new co-branded Uber credit card for the past few months. It’s finally official! The all-new Visa Card from Barclays launches on November 2, 2017, and lets you earn up to 4% rewards on purchases. That makes it possible to never pay for Uber ride again! That last statement might be a bit of a stretch, but, the wait is over for point hungry fans.
What To Expect from the New Uber Credit Card
The Uber Visa Card launches November 2, 2017. It is a co-branded Visa credit card issued by Barclaycard. There will be no annual fee or foreign transaction fee, making this card fee-free. Plus, it earns up to 4% rewards on every purchase. That’s not bad for a no annual fee rewards credit card.
You can begin applying for the card on November 2 through the app or online. Once your application is approved, you will receive your new card within 7-10 days. Uber is also offering $100 bonus cash after spending $500 in the first 90 days. This bonus offer is consistent with similar no-fee travel rewards cards.
4-3-2-1 Purchase Rewards
Your decision to apply for the Uber Visa Card will largely depend on your opinion of how easy it is to earn and redeem your rewards points. You can expect to earn at least 2% back on each purchase thanks to the generous bonus category allowances. Here is the tiered 4-3-2-1 purchase rewards payout for the new Uber card:
- 4% back at restaurants, takeout, bars, and UberEATS
- 3% back on airfare, hotel, and vacation home rentals
- 2% back on Uber purchases, online shopping, and music and video subscription services
- 1% back on all remaining purchases
There Are Three Different Point Redemption Options
The second half of the equation for whether or not you like the Uber credit card will be the redemption options. While you won’t be able to transfer points to any airline or hotel travel partners, you do have three different redemption options:
- Uber credits
- Cash back
- Gift cards
Exchanging points for Uber credits will be the most lucrative option. Each reward point is worth one cent each (1,000 points=$10) for Uber rides. Points can be conveniently redeemed directly within the Uber app. If you are are wanting cash back rewards or gift cards, you will be better served with another credit card.
Additional Cardholder Benefits
The reasons to apply for the Uber Visa Card don’t stop with the purchase rewards. There are also three additional card benefits that add additional value to the card.
$50 Streaming Credit
If you spend more than $5,000 a year in total card purchases, you will receive a $50 credit that can be used as a statement credit for any online streaming subscription you have. If you subscribe to streaming services like Netflix, Hulu, or Spotify, the next $50 in monthly subscription fees will be covered by the credit.
$600 in Cell Phone Insurance
By using the credit card as your autopay option for your monthly cell phone bill, the first $600 in damages and theft will be reimbursed. A few other credit cards also offer free cell phone insurance and this can be reason alone to own this card if you constantly find yourself having to replace your phone because “life happens.”
Exclusive Access to Events and Offers
Maybe you have already taken advantage of the local offers that launched in the summer of 2017. Participating stores and restaurants offer bonus cash when you activate the offer and pay with your Visa card such as 10% rewards if you shop at Whole Foods, etc. Since the co-branded card happens to be a Visa, you can earn the additional bonus cash plus the regular purchase rewards.
The rewards program should have more opportunities and resemble a Visa concierge service more as you can gain access to exclusive events too.
Is This a Good Option For Loyalists?
Yes. If you ride Uber on a regular basis there’s a lot to like about this card:
- No annual fee
- No foreign transaction fee
- Earn 2% to 4% back on most purchases
- Redeem points in-app for instant Uber credits
- Bonus opportunities to earn extra Uber credits in addition to the normal purchase rewards
Depending on how much you spend and how often you ride Uber, you can potentially never pay for an ride again. And, this card could make an excellent international travel companion because you will never pay an annual fee.
What About Casual Uber Riders?
If you don’t ride Uber on a consistent basis, you should probably pass on this credit card. It has some powerful purchase rewards and additional benefits that make this an excellent candidate as a secondary card. However, you might be better served with a flexible travel rewards card that can also earn bonus Uber credits.
Amex Starwood Preferred Guest Credit Card
The Amex SPG is one of the most valuable hotel credit cards as reward nights start at 3,000 Starpoints and can easily be worth 1.5 cents each on many stays (compared to 1 cent each for the Uber card). You can earn up to 5 Starpoints per $1 on Starwood stays. By linking your Starwood Preferred Guest (SPG) loyalty number to your Uber account, you can earn up to 2 Starpoints per Uber dollar spent.
Why is this better than the Uber credit card?
You can transfer your Starpoints on a 1:1 basis to many of your favorite airline loyalty programs. Plus, you get a 5,000 point bonus when you transfer at least 20,000 Starpoints at once. Instead of redeeming your points for an Uber ride, the same amount of points can be more valuable and redeemed for a first class flight. What sounds better to you, a free Uber ride or a luxurious flight?
Platinum Card from American Express
If it’s all about the travel rewards for you, the Platinum Card from American Express needs to be on your shortlist. You get $200 in credits each year and you also receive a $200 air travel credit that will reimburse your in-flight purchases and checked bag fees. Plus, you will also enjoy complimentary access to over 1,000 airport lounges and your Global Entry/TSA Precheck fee will also be reimbursed for the first year.
While the Uber Visa Card is by far the quickest way to earn credits, the Amex Platinum is the quickest way to earn airline miles. You will earn 5 miles on airline and hotel purchases using the Amex Platinum. And, your miles can be transferred on a 1:1 basis to 14 different airlines including Delta, Emirates, and Etihad.
As a new cardholder, you also have the option to earn 60,000 bonus points worth $600 or more in award travel.
Summary on the Uber Credit Card from Barclaycard
Uber loyalists stand to gain the most from the all-new Visa Credit Card as either a primary or secondary credit card. Casual riders will be better off using a flexible travel rewards card that earns bonus points from each purchase and can find more value in free flights and nights. Plus, it comes with a much higher sign-up bonus worth at least $625 in travel.