If you’re into credit card rewards, you’ve likely heard of a favorite airline rewards card. What you likely haven’t heard of is a favorite chauffer service credit card. That ends today. Ride-sharing service Uber just announced a rewards credit card to the masses, which will be available on November 2, 2017.
We have to say, the perks are excellent.
For starters, the Uber Card comes with a daily cash back rewards program. The most standout reward is the 4 percent cash back on dining. That’s one the most competitive cash back rate for dining expenses, according to research from CreditCards.com; any better deals will likely be temporary as a rotating category reward.
Another unique perk is the 2 percent cash back on online purchases, a distinction not made by other cards. This could be a good perk for the casual online shopper, although heavy duty online shoppers, who are likely shopping on Amazon a lot, might be better served by the Amazon credit card.
Other program perks include 3 percent back on hotel and airfare, a rate competitive with the much-lauded Chase Sapphire Reserve card, and 1 percent cash back on all other purchases. Additionally, those who apply for the card and are accepted will be eligible for a sign-up bonus; those who spend $500 in the first three months will receive $100 in cash back.
The Uber card also has a few nice rebate options. The CreditCards.com article points out that the card gives you a $50 credit towards online subscription services, so long as you spend $5,000 annually on the card. The card also provides $600 in phone insurance, covering instances of damage and theft, so long as you pay your phone bill with the card. That coverage isn’t often offered by a credit card with no annual fee.
Finally, it’s important to understand rewards redemption. A post from The Points Guy notes that cardholders will be able to redeem rewards as Uber ride credits, statement credits or gift cards. Gift cards must be worth a minimum of $25 (2,500 points), while Uber credit must be worth at least $5 (500 points).
It’s clear that this card is geared towards the spending habits and budgets of a younger audience, and overall, this is a solid card for earning rewards on those existing expenses.