Uber Is Considering a New Co-Branded Credit Card & This Is What They Might Offer!

Uber Credit Card Coming?

Having a co-branded credit card can be very powerful for brand recognition and loyalty. It can also pad the bottom line since credit cards are a profitable business. Over the past couple of years we have seen new brands and ideas emerge within the realm of travel. Now, some of these brands are branching out into the credit card space.

While Uber does not yet have a credit card offering, a new survey seemingly indicates that one is coming.

The Offer

In the survey many different card offerings are mentioned, but the bonus across all of them is $50 in Uber credits after $1,000 in the first three months. There will also be no annual fee.

Card Earning

The survey presents several screens with a mish-mash of earning rates, redemption schemes and benefits. The following information comes from the first screen. Throughout the next several screens this information is mixed up to provide different combinations. 

Option 1: 

• 2.5% back on Uber
• 2% back on online shopping
• 1% back on all other purchases

Option 2: 

• 3% back on Uber, hotels and airfare
• 2% back on online shopping and dining
• 1% back on all other purchases

Option 3:

• 2.5% back on Uber, dining, hotels and airfare
• 2% back on online shopping
• 1% back on all other purchases

Redemptions

Of course getting 1-3% back is meaningless unless you know how those rewards can be redeemed. In the survey Uber presents two different redemption schemes for the three options.

Option 1: Redeem rewards for Uber credit only.

Option 2: Redeem your rewards for Uber credits, gift cards or hotel/airline purchases.

Option 3: Redeem your rewards for Uber credits, gift cards or hotel/airline purchases.

Other Benefits

Finally, every card has fringe benefits. Here are the proposed benefits for each option.

Option 1

• Can opt to have drivers that have previously received specific compliments from other riders such as “Expert Navigation” and “Awesome Music.”
• Waived cancellation fees on uberX rides up to 3 times per month.
• Higher chance to get your orders faster on UberEATS.

Option 2

• More likely to get lower ETAs at airports.
• Discounts at local restaurants/shops. Early access to events such as concerts and sporting events.
• Ability to freeze/unfreeze your misplaced credit card through your Uber app within seconds.
• Early access to new restaurants on UberEATS.

Option 3

• Can opt to have top rated drivers for uberX rides.
• Discounts at local restaurants/shops. Early access to events such as concerts and sporting events.
• Higher chance to get your orders faster on UberEATS.

Analysis

To start, this card is clearly not for the travel hacking crowd. We can do better than locking ourselves into Uber credit with a credit card and thus probably won’t be interested in this card. Of course I don’t think it is a good card for the vast majority of people either. With that said, I think it points to something else.

If you look at some of those benefits from each option, it is clear to me that Uber may be developing some sort of loyalty program as well. All of those proposed benefits are things you would think could be offered to Uber elites. And I guess getting good drivers and faster pickups at busier places might appeal to those who use Uber all of the time.

Other Questions

After asking you to decide your favorite from several screen of different combinations of the above choices, you are then asked if you will be likely to apply for the card if it has the right combination of earning/redemption/benefits for you. They also ask how many credit cards you have along with all of the other demographic information you would expect.

It is important to keep in mind that companies release surveys like this all of the time and there is certainly no guarantee that an Uber credit card will be released or if it is that it will look anything like this. You can try the survey for yourself at this link. (Note: The link is live as of 1:30PM Pacific on 3/21/17.)

Conclusion

Uber may or may not ever come out with a credit card, however it is clear they are exploring the option. We may see one of these three options eventually make it to market or perhaps we will see a mashup of them. Only time will tell, but in an era where loyalty programs are hugely rewarding for brands, it is interesting to see Uber float the idea of “elite benefits” even if they only come from a card.

What do you think? Is this a good card for people who use Uber often or will most people get suckered by this restricted card?

@IadIsGr8 on Twitter via Reddit

Disclosure: Miles to Memories has partnered with CardRatings for our coverage of credit card products. Miles to Memories and CardRatings may receive a commission from card issuers.

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