Home > Credit Cards > 6 Top Details about the New Uber Credit Card

Comments 0 Comments

Uber is expanding in so many new, unique directions these days to better serve their customers.

At a conference in Portugal, the ride-sharing company recently unveiled bold plans for a futuristic air taxi to fly its customers to their destinations. And just before that, it announced a much-buzzed-about Uber credit card.

The new credit card has a variety of perks that financial industry experts say are worth taking note of, particularly if you’re an urban dweller or a globetrotting voyager.

“What’s interesting to me is that you don’t need to be a big time Uber user to benefit from the card,” says personal finance blogger Kyle Burbank, creator of the site Moneyat30. “You can redeem points for cash back or gift cards, in addition to Uber rides.”

Here are the six top details you need to know about the new Uber credit card.

1. No Annual Fee

Rewards cards, particularly the elite ones, often come with a hefty annual membership fees in exchange for access to all of the perks they offer. (Think Chase Sapphire Reserve with its hefty $450 annual fee—or the Citi Prestige Card, which has a similar fee.)

The Uber Card, however, joins a group of rewards cards that help you enjoy a variety of benefits without paying a hefty price each year.

“With no annual fee, it’s a nice little entry into the world of credit cards for folks who are scared about going for more premium cards,” said Kevin Han, founder of personal finance site Financial Panther.

2. 4% Cash Back on Dining

Urban dwellers eat out a lot. That’s no secret. The Uber card is aimed right at this market, offering a generous 4% cash back for dining purchases.

This cash back reward applies to restaurants, bars, takeout, and UberEats.

Because of that higher dining reward, Mark Ranta, head of digital banking solutions for ACI Worldwide, said it’s a card worth keeping at the top of your wallet when you eat out.

“The dining rewards are pretty high. I haven’t seen 4%. You usually see 3% or 2%,” says Ranta, which makes the Uber Card a great source of cash back rewards. 

3. No Foreign Transaction Fees

The lack of a foreign transaction fee is a perk travel-happy millennials have definitely taken notice of. 

“I was not considering another credit card. I would get offers and reject them. But when I saw this card, I started thinking about how I would integrate it with my current credit cards,” says 31-year-old Burbank. “It’s exciting to have a visa that doesn’t have foreign transaction fees.”

And speaking of travel perks, the Uber card also offers 3% cash back on hotels (including vacation rentals such as Airbnb) and airfare. Again, millennials, Uber is looking at you. 

4. Online Shopping Rewards

The card offers 2% back, or two points for every $1 spent online, covering purchases at retailers such as Amazon, Walmart, Best Buy, Macy’s and more—far more.

Of course, this category includes rewards for booking Uber rides. But this nice little perk also includes other online shopping, as well as video and music streaming services.

Among the streaming services covered in this category are those offered by Netflix, Pandora, HBO Now, and Apple Music. Even purchases made at online service sites like TaskRabbit and Angie’s List are covered.

5. Phone Protection Plan

Break your phone much?

The Uber card has you covered with a mobile phone protection plan that offers up to $600 for damage, another perk that Kyle Han says he was pleasantly surprised by.

“It’s a big benefit that you don’t often see on no-annual-fee cards like this one,” says Han. “Definitely useful for folks who are worried about breaking their phones.” And let’s be honest, who isn’t?

6. Points Program with Great Deals

Uber’s credit card allows you to accumulate points and then redeem those points for discounts on ridesharing. Most other cards have a $25 minimum for any sort of redemption, but Burbank notes the Uber Card lets customers redeem amounts as low as $5 for Uber ride credits. (All other redemptions on the Uber card start at $25).

So Why Try the Uber Credit Card?

Between the credit for streaming services, the travel rewards that include Airbnb, and the big bonuses for eating out, it’s not hard to see who this card is designed for.

“To me, it seems like the ultimate card for Millennials,” says Burbank. “There’s no annual fee, no foreign transaction fees, and there’s an impressive 4% cash back on dining and 3% on travel, plus a $50 streaming credit and cell phone insurance, all of which speaks to that demographic.”

Credit cards with great rewards programs, like the Uber Card, usually require good to excellent credit. Before you apply, check your credit to make sure you have the best chance of being accepted. You can see your credit score for free at Credit.com.

Image: istock

Comments on articles and responses to those comments are not provided or commissioned by a bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by a bank advertiser. It is not a bank advertiser's responsibility to ensure all posts and/or questions are answered.

Please note that our comments are moderated, so it may take a little time before you see them on the page. Thanks for your patience.

Credit.com receives compensation for the financial products and services advertised on this site if our users apply for and sign up for any of them.

Hello, Reader!

Thanks for checking out Credit.com. We hope you find the site and the journalism we produce useful. We wanted to take some time to tell you a bit about ourselves.

Our People

The Credit.com editorial team is staffed by a team of editors and reporters, each with many years of financial reporting experience. We’ve worked for places like the New York Times, American Banker, Frontline, TheStreet.com, Business Insider, ABC News, NBC News, CNBC and many others. We also employ a few freelancers and more than 50 contributors (these are typically subject matter experts from the worlds of finance, academia, politics, business and elsewhere).

Our Reporting

We take great pains to ensure that the articles, video and graphics you see on Credit.com are thoroughly reported and fact-checked. Each story is read by two separate editors, and we adhere to the highest editorial standards. We’re not perfect, however, and if you see something that you think is wrong, please email us at editorial team [at] credit [dot] com,

The Credit.com editorial team is committed to providing our readers and viewers with sound, well-reported and understandable information designed to inform and empower. We won’t tell you what to do. We will, however, do our best to explain the consequences of various actions, thereby arming you with the information you need to make decisions that are in your best interests. We also write about things relating to money and finance we think are interesting and want to share.

In addition to appearing on Credit.com, our articles are syndicated to dozens of other news sites. We have more than 100 partners, including MSN, ABC News, CBS News, Yahoo, Marketwatch, Scripps, Money Magazine and many others. This network operates similarly to the Associated Press or Reuters, except we focus almost exclusively on issues relating to personal finance. These are not advertorial or paid placements, rather we provide these articles to our partners in most cases for free. These relationships create more awareness of Credit.com in general and they result in more traffic to us as well.

Our Business Model

Credit.com’s journalism is largely supported by an e-commerce business model. Rather than rely on revenue from display ad impressions, Credit.com maintains a financial marketplace separate from its editorial pages. When someone navigates to those pages, and applies for a credit card, for example, Credit.com will get paid what is essentially a finder’s fee if that person ends up getting the card. That doesn’t mean, however, that our editorial decisions are informed by the products available in our marketplace. The editorial team chooses what to write about and how to write about it independently of the decisions and priorities of the business side of the company. In fact, we maintain a strict and important firewall between the editorial and business departments. Our mission as journalists is to serve the reader, not the advertiser. In that sense, we are no different from any other news organization that is supported by ad revenue.

Visitors to Credit.com are also able to register for a free Credit.com account, which gives them access to a tool called The Credit Report Card. This tool provides users with two free credit scores and a breakdown of the information in their Experian credit report, updated twice monthly. Again, this tool is entirely free, and we mention that frequently in our articles, because we think that it’s a good thing for users to have access to data like this. Separate from its educational value, there is also a business angle to the Credit Report Card. Registered users can be matched with products and services for which they are most likely to qualify. In other words, if you register and you find that your credit is less than stellar, Credit.com won’t recommend a high-end platinum credit card that requires an excellent credit score You’d likely get rejected, and that’s no good for you or Credit.com. You’d be no closer to getting a product you need, there’d be a wasted inquiry on your credit report, and Credit.com wouldn’t get paid. These are essentially what are commonly referred to as "targeted ads" in the world of the Internet. Despite all of this, however, even if you never apply for any product, the Credit Report Card will remain free, and none of this will impact how the editorial team reports on credit and credit scores.

Your Stories

Lastly, much of what we do is informed by our own experiences as well as the experiences of our readers. We want to tell your stories if you’re interested in sharing them. Please email us at story ideas [at] credit [dot] com with ideas or visit us on Facebook or Twitter.

Thanks for stopping by.

- The Credit.com Editorial Team