Well, in one of the bigger surprises of the year, Uber and Barclaycard have teamed up to offer an Uber co-branded credit card. Apparently there have been rumors about this card for months now, but I’m still shocked to see such a unique pairing.
When I first heard of the new Uber Visa card from Barclaycard I (wrongfully) assumed the card would be a simple 1% Uber cash back credit card. I figured you’d earn bonus cash back for using the card to pay for Uber rides and there’d be a few other non-relevant benefits.
I’m happy to say that I’m blown away by the valuable benefits offered by this card. The card is actually so much more than a simple Uber cash back card. Given the extensive benefits offered by this new card, it may even be worth adding it to my wallet.
Barclaycard Uber Visa Credit Card Benefits Overview
The new Uber Visa Card from Barclaycard offers several very exciting benefits. What’s most surprising about this card, given the card’s perks, is that there is currently no annual fee for this card.
Mobile Phone Protection
One of the most impressive benefits offered from this card is the mobile phone protection. Uber cardholders who use the card to pay for their mobile phone bill qualify for mobile phone protection. This coverage includes up to $600 toward mobile phone repair or replacement due to theft. This is a truly impressive benefit considering the card lacks an annual fee. I’m sure this is a welcomed benefit to anyone who’s dropped their phone while getting out of an Uber.
Waived Foreign Transaction Fees
The Uber Visa credit card also offers waived foreign transaction fees which is an incredible benefit offered by a no annual fee credit card. Over the years we’ve seen this benefit expanded to lower and lower annual fee cards. However, it’s rare to see this benefit offered by a no annual fee credit card. This alone could help justify carrying this card if you don’t already carry a waived foreign transaction fee credit card.
$50 Subscription Credit
The Uber Visa card also offers a unique $50 subscription credit which is used to offset subscription service charges. You’ll earn this $50 credit when you spend $5,000 or more on the card each year. Again, this benefit is quite impressive from a no annual fee credit card.
My Opinion Of The Uber Visa Card Firm Benefits
All in all, you can receive a lot back from this card all while paying no annual fee. For starters you’ll earn $50 back to offset subscription services (Spotify/Netflix, etc.) each year. Additionally, you can get $600 back for cell phone repairs/replacement twice a year after a small $25 deductible. That’s up to $1,200 back each year! This is perfect for anyone who frequently damages their mobile devices.
Clearly if you use this card properly you’ll easily get enough out of the card to justify opening an account. Even better, I still haven’t even touched on the most impressive benefit offered from this new Uber Visa card.
Earn Cash Back Reward ‘Points’
Although this card seems like a simple cash-back credit card, it’s actually a bit more complex than that. I find it best to think of this card as you would the Chase Freedom card. You don’t earn “cash back,” but rather points which are redeemable for cash back. This is an important distinction that I’ll explain a bit later on.
You earn these redeemable ‘points’ through spending as you would with any other rewards credit card. Additionally, you have the potential to earn bonus ‘points’ through spending within the following fixed categories:
- 4% back on all dining purchases, including UberEats.
- 3% back on travel (airfare and hotels).
- 2% back on all “online purchases.” This category is definitely the most complicated. There’s a good description of qualifying online purchases on the Barclaycard FAQ page. Essentially, online retail purchases and online media services (HBO Now, Netflix, etc.) qualify for 2% back.
- 1% back on all other purchases.
How To Redeem ‘Points’
Cardholders have the option to redeem points for simple cash back. Cash back redemptions are then deposited into a checking or savings account within 4-5 days after initiating the redemption. Points used as cash back are worth a fixed value of $0.01 per point. That means if you redeem 10,000 points you’ll receive $100 cash back in your checking/savings account.
Cardholders may also use points to purchase gift cards. In general, gift cards purchased with points yield a value of $0.01 or less per dollar amount purchased. I’m not sure why anyone would chose the gift card redemption option over simple cash back, but to each their own. I’m not entirely familiar with Barclaycard’s gift card redemption purchases, so maybe there is a benefit. However, if the gift cards cost $0.01 per point, I don’t see a reason to use this option.
Lastly, cardholders can redeem points for Uber credits. This is by far the simplest way to redeem your hard-earned points. Points redeemed for Uber Credits are again only worth $0.01 each. According to the Barclaycard FAQ, Uber credits should hit each cardholder’s account within 24 hours following a redemption. If I open this credit card this is most likely how I’d redeem my points at first. After all, this is an Uber co-branded credit card.
Transfer Points To Other Loyalty Programs?
This is definitely the most surprising thing about this new Uber Visa Credit Card. According to a New York Times article, Uber and Barclaycard are working on adding points transfers to airlines at some point in 2018. This small note was pointed out by Ben over at OneMileAtATime shortly after Uber and Barclaycard formally announced the new card. Interestingly, when I tried to click-through to the original article, it appears the NY Time has since removed the article.
If this ends up being true, this could be one of the most lucrative credit cards available today. I haven’t heard anything more about this potential benefit, but if you do open and use the Uber Visa card make sure to hold on to a stash of points until we receive further information about airline transfers. I’d hate to redeem 50,000 Uber points for free Uber rides when I could have instead earned a free international business class flight!
How To Apply For The Uber Visa Credit Card?
Obviously, as with all credit cards, you can apply directly for the card on the Barclaycard website. You can also apply for the card from the Uber website if you’d prefer that option.
However, I find both of those options a bit dull. US residents can instead apply for the Uber Visa card directly from the Uber Mobile App. How great is that! If I end up applying for this card I’ll make sure to use the Uber app option and report back.
Final Thoughts
Wow, I’m honestly quite excited by this card and I never expected to say that. When I first heard about the Uber Visa card, I figured we’d simply get a 1% cash back card that happened to earn 2% back on Uber rides (maybe 3% back). Luckily, the card is so much better than that.
As of today there is really only one thing holding me back from applying for this card. That is the uncertainty surrounding the point transfers to airlines. I don’t have much use for a cash back credit card in my wallet. I much prefer to earn airline miles and hotel points. For that reason, I’m staying on the sidelines today. However, if Barclaycard confirms the airline transfer option in the future and keeps the other benefits the same, I’ll definitely carry this card and use it as a daily driver.
Uber Visa Card Design
I almost completely forgot to mention the design of this card. While you should never base your decision to carry a credit card based on it’s looks, I must say this card looks great. I personally love the simplistic design and think it’s one of the most attractive new cards I’ve seen in a while. See below!
