Uber released its brand new Uber Visa Card today on November 2, 2017, in partnership with Barclaycard. Regardless of how you may feel about the company in light of everything that happened over the past year, this is a great card for everyday spend; especially for average consumers who don’t constantly looking for new credit card bonuses to chase, and would prefer to just have one daily driver.
The new Uber credit card has a 4-3-2-1 cash back structure. None of these categories are capped.
- 4% cash back on dining (includes UberEATS)
- 3% cash back on hotel/airfare (includes vacation home rentals)
- 2% cash back on online purchases (includes Uber rides, video/music streaming services)
- 1% cash back everything else
- $100 sign-up bonus after spending $500 in the first 90 days
Other noteworthy benefits include
- Free Phone Insurance (Covers up to $600 for damages or stolen phone if it was purchased with your Uber Credit Card)
- No foreign transaction fees
- $50 Credit for subscription services after $5,000 on your card per year
- Free FICO Credit Score (Most Barclaycard products come with this, and will provide your TransUnion FICO)
Should you get it?
If you’re someone who just wants one credit card for everything, this is a solid offering. Getting phone insurance for no annual fee makes this a better deal than something like the Chase Ink Preferred, which offers the same $600 phone insurance, but with a higher, $100 deductible per repair. Uber’s deductible would only be $25. The Chase Ink Preferred does offer a better overall value due to the 3x point/cash back you get on Internet, phone, and travel. However, this comes with a $95 annual fee, which some may not want to pay.
The 0 foreign transaction fee is also great for people who travel abroad frequently. Additionally, as a Visa card, you’ll be able to use it at more places than you would with an AMEX or Discover.
The 4% dining category may be the best in this category. Something like the Chase Sapphire Reserve offers 3% cash back, but gives an extra 1.5% value (4.5% total) when redeemed via the Chase portal. However, as previously mentioned, the Uber credit card is better for simplicity. For flat cash back, the 4% trumps the CSR’s 3% dining.
The 3% cash back makes this a solid choice for travelers. If you already have a Chase Sapphire Reserve as a daily driver, this may not be the card for you. Especially since the Chase Sapphire Reserve offers a $300 travel credit annually which can be used for Uber, and you also earn 3x on Uber rides. The AMEX Plat also comes with $200 annual Uber credit.
If you can look past some of Uber’s mishaps and questionable business practices, you may want to look into this. This is one of the more balanced cards that I’ve seen on the market. If you’d like to see more options for a new card, check out our round-up of some of the best cash back credit cards.
What are your thoughts on this card? Will you be applying for it? Let us know, and comment if you have any questions.
You can apply for the card on the Uber or Barclaycard websites.