Ride-sharing service Uber had already announced a few months back that it would be launching its own credit card in partnership with Barclays. Now we have a launch date and full details on what to expect from this new product. The new Uber Visa will be open for applications starting on Thursday, November 2. You can apply online or directly within the Uber app starting next week. Once approved, the card can be added to your Uber wallet and used to pay for rides, though physical cards might take 7-10 business days to arrive in the mail.
The primary cardmember will earn 10,000 bonus points, redeemable for $100 in Uber credits, statement credits or gift cards after spending $500 on net purchases on your Uber Visa Card within the first ninety (90) days from the account open date.
This one-time bonus points offer is valid for first-time cardmembers with new accounts only. Existing Uber Visa cardmembers are not eligible for this offer. The bonus points will be awarded after qualifying net purchases have posted to your account.
Earning & Redeeming Points
Cardholders will earn 1-4 points per dollar on purchases, depending on the purchase category. Points can then be redeemed at a rate of one cent apiece as Uber credits directly within the Uber app, for statement credits, or for gift cards. The highest earning rate will be on restaurants, including UberEATS, where you will get 4% back. Airfare, hotels and vacation home rentals will earn 3% and online purchases including Uber will earn just 2%. I would have expected a higher earning rate for Uber charges, so that’s a bit surprising. Starting 12/05/2017 online purchases made with the Uber Visa Card using a third party payment method including PayPal, Venmo, Apple Pay, Samsung Pay, and Android Pay will now earn 2% back.
Points can be redeemed for Uber Credits, cash back or gift cards. All redemptions are at a 1% value. For example, 2,500 Points can be redeemed for a $25 Uber Credit, or a $25 statement credit or bank deposit, or a $25 gift card. The primary cardmember can redeem Points for Uber Credits via the Uber mobile application (“Uber App”), or for cash back or gift cards by calling the number on the back of your card or by logging in to your Account online. Authorized users can also redeem points, but need to call in.
There is no limit to the total points cardmembers can earn as long as the program is around and their account is open and in good standing. However, redemptions for Uber credits start at 500 points for $5, and there is a $500 daily limit for redemptions for Uber credits.
Uber Credit Redemptions
- Points can be redeemed for Uber Credits via the Uber App at a 1% value. For example, 500 Points equals a $5 Uber Credit.
- Uber Credit redemptions start at 500 Points for $5.
- There is a $500 (50,000 Points) daily limit for Uber Credit redemptions.
Cash Back Credit Redemptions
- Points can be redeemed for a statement credit or a deposit into a U.S. checking or savings account at a 1% value.
- Cash back redemptions start at 2,500 Points for $25.
- If you redeem your Points for a statement credit, the credit will be posted to your Account within one to two (1-2) business days.
- The statement credit will appear on your Account billing statement within 1 billing cycle after the Points are redeemed.
- Statement credits reduce your Account balance but cannot be applied toward any minimum payment requirement
- Bank deposit redemptions will be transferred to the checking or savings account within three to four (3-4) business days and there is a $500 (50,000 Points) daily limit for bank deposit redemptions deposited into U.S. checking or savings accounts.
Gift Card Redemptions
- Redemptions for gift cards are at a 1% value and start at 2,500 Points for $25.
- The selection of gift cards are subject to availability and the number of Points needed to redeem for them may change at any time.
You get $600 in supplemental insurance coverage against theft of, damage to or involuntary and accidental parting of your cell phone not otherwise covered by another insurance policy when you make your total monthly cell phone bill payment with your Uber Visa Card. There’s also a $50 credit for online subscription services after spending $5,000 on the card per year.
If you travel abroad you can bring your card with you, since it has no foreign transaction fees.
This is a good offer from Uber considering that it is a no-fee credit card, but there’s nothing groundbreaking in the benefits. The bonus is somewhat normal at $100 for $500 spending, but the highlight is probably the 4% back rate on restaurants, which would make this a good option for those who dine out often and don’t want to pay a credit card annual fee. 3% back on airfare and hotels is also a good rate that could come handy if you don’t have a premium card. Redeeming points also looks easy as you can use them for Uber rides, statement credit or gift cards at 1 cent each. That means that even if you don;t use Uber much, you can make use of this card.
What’s your take on the new Barclays Uber Card?
- Apply Here (starting 11/2/2017)
- Earn $100 after spending $500 on purchases in the first 90 days
- 4% back on restaurants, takeout and bars, including UberEATS
- 3% back on airfare, hotels and vacation home rentals
- 2% back on online purchases including Uber, online shopping, and video and music streaming services
- 1% back on all other purchases
- Up to $50 credit for online subscription services after spending $5,000 on the card per year
- Up to $600 mobile phone insurance for damage and theft when the card is used to pay the monthly mobile phone bill
- $0 fraud liability protection
- No foreign transaction fee
- No annual fee