Uber is the largest ride sharing company by market share. Despite some recent controversies, the company is growing and is seeking to capitalize on its brand by expanding its product line. Beyond UberEATS and similar expansions, the ride-sharing titan is now entering the co-branded credit card market. Uber recently teamed up with Barclays to offer the new Uber Visa card. We’ll go over the details in this Uber credit card review.
I’ll be honest: when this card was announced, I wasn’t expecting much. But when it launched back in November 2017, I was pleasantly surprised to see that it was actually an excellent card. Here are the basics:
Uber Visa Credit Card: At a Glance
- $100 signup bonus after spending $500 in the first 3 months
- NO annual fee
- No foreign transaction fees
- Mobile phone protection when you pay your phone bill with your Uber card (up to $600 for phone damage or theft)
- $50 subscription credit for Spotify, Netflix etc. when you spend $5,000 on your card in a year
Uber Visa Earning Rates
- 4% cashback on dining (restaurants, bars, UberEATS)
- 3% cashback on hotels, airfare and vacation rentals (AirBNB)
- 2% cashback on online purchases (Uber, streaming services, online shopping)
- 1% cashback on everything else
- Points can be redeemed for cash, Uber credits or gift cards
Uber Credit Card Review
At first glance, a few things stick out: a $100 signup bonus with a low minimum spending requirement (only $500 in 3 months), a great cashback rate on dining and travel, and some surprisingly nice perks for a no annual fee card.
I was also pleasantly surprised that this is a true cash back card, so you can actually redeem your points for cash/statement credits, and not just Uber credit or other limited-use redemptions. Here are the biggest perks I’ll mention in this Uber credit card review:
Flexible Points Currency
This card earns “points”, which can be redeemed for cashback, Uber gift cards and eGift cards to other merchants. All redemption options result in a rate of $0.01 per point. However, the minimums are different – you can redeem as little as $5/500 points for Uber credit, but you have to accumulate $25/2500 points for a cash or gift card redemption.
It’s also been reported that Barclays is exploring options to introduce point transfers to this card at some point in 2018. That means you could soon be able to transfer Uber Visa card points to airline and hotel loyalty programs.
Juicy Benefits (for a no-annual fee card)
The $600 cellphone insurance is a great deal. All you need to do is pay your phone bill each month with your Uber card, and you will be protected in case of damage or theft (there is a $25 deductible). Other premium cards offer this, but this is the best mobile phone protection I’ve seen from a no annual fee card.
The $50 streaming credit after spending $5,000 in a year is also pretty solid. It can be used for Apple Music, Google Music, Pandora, Amazon Music, Spotify, Audible, Sirius XM, DirecTV NOW, Netflix, Hulu, HBO NOW, Amazon Prime, and Shoprunner. Since most of us subscribe to one or more of these services, this credit essentially adds a bonus 1% cashback to all purchases (up to $5,000/year), so long as you actually hit the $5,000 requirement.
The card also has no foreign transaction fees, which is somewhat rare in no annual fee cards. This is useful for travelers.
Good Bonus Categories
Many tiered cashback cards lose out to flat 2% cards over time, but the Uber credit card might be different. 4% on dining is excellent (only beat out by the Chase Sapphire Reserve, which has a $450 annual fee), 3% on travel is solid, and 2% on online purchases covers a lot of expenses for most people. These cashback rates put the Uber Visa Card right up there with some of the best no annual fee cards for everyday use. The Capital One Savor card offers a similar earning structure – we compared the two cards here.
To sum up this Uber Visa Card review, I’ll say this: this is a surprisingly good card.
It packs in a lot of benefits, some excellent tiered cashback rates, and solid perks – all with no annual fee. Here is the FAQ page for this card if you have any questions.
Personally, I won’t be applying for this card because the signup bonus is fairly low. But, if a friend asked for a single card to carry as a “daily driver”, this might just be my top recommendation.
Have you picked up the Uber credit card yet? What do you think?