Here’s What to Expect From Uber’s New Credit Card

Reward lovers, we know you love your Chase Sapphire credit card. We also know that you love using new cards with great perks, and now that Uber has burst into the world of credit cards , you are probably wondering if they are worth your time (and the heavy load on your credit report ).

Between boycotts and scandals, this hasn’t been the best year for Uber, so it’s a bold move to break into the credit card reward game. Here’s how they engage customers with their new co-branded Visa card, issued on November 2:

  • 4% cashback for lunch (4 points per dollar)
  • 3 points per dollar for travel expenses such as hotels and flights
  • 2 points per dollar for online purchases (including Uber)
  • 1 point per dollar for all other expenses

“The most notable benefit is the 4% remuneration rate for dinners – we usually don’t see the category of dinners with such a high rate of remuneration,” Kimberly Palmer, a credit card expert at NerdWallet, told us.

Of course, Chase Sapphire Reserve offers an ” effective interest rate of 4.5%, ” according to NerdWallet, and it’s hard to beat. But the Reserve also includes an annual fee of $ 450 (albeit with an annual travel credit of $ 300, making it more like $ 150). However, Uber Visa has no annual fee at all and you can redeem your points for Uber credits, refunds, or gift cards. (You can apply online here ).

“In general, when we see cards with such generous rewards, they often come with a commission, but this one does not,” said Palmer. “The card also gives you $ 50 for subscriptions like Netflix and Spotify after you reach the spending threshold after the first year – if you pay the membership fee anyway, then you will benefit from using this card to pay.” it is added.

There is also a registration bonus. You can earn 10,000 points (which is basically $ 100) if you spend $ 500 in the first 90 days. Like any good bonus card, Uber Visa does not include any overseas transaction fees.

However, there are limitations you should be aware of. According to NerdWallet :

  • To redeem for Uber Credits, you need a minimum of 500 points (for $ 5).
  • Cardholders can use no more than $ 500 per day in Uber credits.
  • Cell phone insurance is limited to $ 600 for damage or theft, and you must pay your cell phone bill with Uber Visa.
  • To receive a $ 50 online subscription credit each year, you must withdraw at least $ 5,000 from your card annually.

Of course, this all assumes that you are still not boycotting Uber . Earlier this year, more than 200,000 customers deleted the app after the company undermined the New York Taxi Workers Alliance ‘s strike against the Muslim “travel” ban , which ultimately led to the departure of Uber’s CEO. This, of course, isn’t the only bad press about Uber in recent years (and as Jezebel points out , many of Uber’s problems are also related to Lyft stock). However, it looks like they are working on changing their image, and perhaps getting immersed in the rewarding game is part of that process. In practice, it seems that the card does offer decent rewards for customers.

“The only cost to really consider is the alternative cost of other credit cards that you could use instead,” Palmer said. “If your expenses compare better with another card, then you may be better off elsewhere. But if you’re a big Uber user who loves to eat in restaurants and deliver Uber EATS, there is no downside. ”

It would be remiss not to mention our usual disclaimer: use your bonus credit card responsibly . Otherwise, you just accumulate debt. And this is not very pleasant.


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