Uber Visa Credit Card Details and Review
Barclaycard announced yesterday that they will be releasing a new Uber credit card on November 2, 2017. The question remains – is this a card we should care about? Let’s take a look at the card’s details and see what we come up with.
Details on the Bonus
Get a $100 bonus once you spend $500 within the first 90 days.
The card comes with a pretty enticing earning structure for a no annual fee credit card. The details are as follows:
- 4% back on dining. This includes UberEATS.
- 3% back on hotel and airfare purchases.
- 2% back for online purchases. This includes Uber rides.
- 1% back on everything else.
You can redeem your earnings as Uber credit, a statement credit, or via gift cards. For Uber credit you only need to have a minimum of $5 in rewards. You need a minimum of $25 in rewards for all other redemptions.
You can get more details on the earning structure by clicking HERE.
There are a couple of valuable perks for this card, especially with it having no annual fee. They are as follows:
- Stream with a $50 subscription credit. Get up to a $50 credit for online subscription services after you spend $5,000 or more on your card per year.
- Mobile phone protection. Get up to $600 for mobile phone damage or theft when you pay your mobile phone bill with your card.
- Receive invites to exclusive events and offers in select U.S. cities.
- No foreign transaction fees.
Sign up Bonus Value – $100
Since there is no annual fee and the points are worth 1 cent each you get to keep the entire $100 value.
The Uber credit card by Barclaycard is a pretty enticing card, especially with it having no annual fee. When this is released it could be the best no fee available to consumers.
Offering a 4% return on restaurant spend blows its competitors, other no fee cards, out of the water. It is better than the recently released Capital One Savor card’s 3% earning rate on restaurant spend. I am a little surprised the card does not earn better than 2% on Uber rides though. I think it should have been in the 3% category.
The $100 sign up bonus is pretty ho hum and almost not worth mentioning. The lack of an enticing sign up bonus will keep most people from adding it as a new account. It will be more likely for people to attempt to product change to the card.
A product change is intriguing because of the 4% earning at restaurants and the cardmember perks. Being able to get $50 in free streaming service is unique and a great idea to entice loyalty and encourage spend on the card, since you need to spend $5000 on the card to get the perk. The $600 in phone replacement coverage is also unique for a fee free card and will be tempting for anyone without an Ink card. Having no foreign transaction fees is also a nice touch.
The Uber Visa from Barclaycard is a very solid offering that has a better earning structure than pretty much every co-branded airline card. The lack of an enticing sign up bonus will keep some from applying for it though.
Where the card has a chance to shine is if Barclaycard allows people to product change to it. This will allow someone to get the great cardmember perks without the hard inquiry.
The 4% cash back on dining is an oustanding offer. While you may be able to get a better return from a card with an annual fee, like the Chase Sapphire Reserve or American Express Flexperks, the cards that beat 4% are few and far between.
This is a very strong offering from Uber and Barclaycard and I think it will end up in a lot of people’s wallets. If they would have come out with a stronger sign up bonus, like $250, then this would have been a slam dunk in my opinion.