Should You Get the New Uber Credit Card?

Recently, it was announced that Uber is offering their own co-branded credit card from Barclaycard. While having a card for Uber probably doesn’t sound that enticing unless you’re a die-hard rideshare fan, this particular rewards card may be more valuable than you would think.

Uber Visa Card: How it Works

For starters, the Uber Visa card isn’t just for Uber rides. You can earn points on all kinds of other expenses, and you can redeem your points in several different ways, too. Here’s how the Uber earning structure breaks down:

• Earn 4 percent back on dining, including restaurants, takeout, bars, and UberEATS
• Earn 3 percent back on hotels and airfare
• Earn 2 percent back for online purchases, including Uber, online shopping, video and direct streaming services
• Earn 1 percent back on all other purchases

In addition to these earning tiers, you can earn 10,000 points worth $100 after you use your card for $500 in purchases within 90 days of account opening. Plus, the card comes without an annual fee. Lastly, the Uber Visa card comes with mobile phone insurance, an annual subscription credit for online services like Amazon Prime or Netflix, and access to exclusive events TBD.

The best part is, you don’t have to redeem your points for Uber credits; you can also redeem them for statement credits or gift cards.

There are a few restrictions to note, however:

• You have to pay your mobile phone bill with your Uber Visa card to qualify for the mobile phone coverage.
• Uber credits for rides start at 500 points or $5.
• You have to spend $5,000 on your card each year to qualify for the online subscription credit.
• Uber credits are limited to $500 per day.
• Uber credits aren’t transferable.

Where the Uber Visa Card Shines

In terms of benefits, where the Uber card stands out should be fairly obvious. It’s pretty sweet to earn 4 percent back on dining and 3 percent back on hotels and airfare without an annual fee. Whether you choose to redeem your points for cash back or gift cards or Uber rides, that’s a solid rate of return.

If you eat out a lot of spend a ton on airfare or hotels, it would be difficult to find another cash back card with no fee that is offering 4 percent and 3 percent back.

Getting free cell phone insurance is also a nice perk, although you do have to use your card to pay the bill to qualify.

Final Thoughts

If you’re looking for a cash back card that offers excellent redemptions on dining and hotels and airfare, the Uber Visa card should be a top contender. There are some funny rules to be aware of, but the earning structure is solid and you can redeem your points for cash back or gift cards instead of Uber rides.

If you want cash back and aren’t necessarily interested in a card affiliated with Uber, it also makes sense to keep other cash-back cards in mind. The Chase Freedom is offering 5 percent back at Walmart and department stores this quarter, for example. And Discover it Miles offers a flat 1.5 percent back on all purchases, all year, with the promise to double your rewards to 3 percent back after one year.

 

Are you interested in the Uber credit card? Why or why not?