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The pioneering ride-share service Uber launched a new venture in November 2017 — a no-fee credit card that bests nearly all other rewards credit cards on the market.
The Uber Visa offers users exceptionally high cash-back rewards on dining and travel. Issued by Barclays, Uber Visa also offers decent rewards in a category most other credit cards do not: online services, including shopping, streaming media and Uber rides.
The Uber Visa wants pole position in your wallet.
The card pays an industry-best rewards rate of 4% back for every $1 spent on restaurants, takeout, and bars, including UberEATS. It also pays 3% back on airfare, hotels and vacation home rentals — like AirBnB, and 2% back on online purchases including Uber, online shopping, and video and music streaming services (certain online purchases are excluded.) All other purchases earn 1% back.
What really makes this card shine is the opportunity to earn big rewards without paying an annual fee.
The 4% restaurant rewards rate is the highest available, besting other cards that pay big rewards on dining like the Capital One Savor Cash Rewards Credit Card and the PNC Cash Rewards Visa Credit Card. You can earn slightly more with the Chase Sapphire Reserve (4.5 points) but only when you redeem your rewards for travel on the Chase portal. That card also comes with a hefty $450 annual fee.
The boosted earnings rate on airfare and lodging puts the Uber Visa Card on a par with the rewards offered by some of the top premium travel rewards cards, like the Chase Sapphire Reserve and the Citi Prestige Card, but without the cost of ownership.
The Uber Visa is also the first card to offer enhanced rewards on all online purchases, which includes Amazon and subscription services like Netflix and Hulu. No other personal credit card currently offers 2% back in this category.
Earnings with this card are called points, where each point is worth one cent and can be redeemed for Uber credits, cash back as a statement credit, ACH deposit, or to buy gift cards.
New cardholders also can take advantages of a sign-up of bonus of 10,000 points, worth $100, if you spend $500 within the first three months of opening the account.
Every year you spend at least $5,000 on the card, you’ll get statement credits of up to $50 to offset the cost of streaming services you pay for with the card like Netflix, Amazon Prime, DirecTV Now, Pandora and Sirius XM.
You could never take an Uber and still get a lot of benefit out of owning this card.
Who should get this card
Anyone who spends a lot across these categories — especially on dining purchases — can benefit from the rewards structure of this card.
Fees and APR
- Pay no annual fee.
- Pay a variable APR of 15.99% to 24.74% based on creditworthiness for purchases and balance transfers.
- Balance transfers fee is $10 or 3% of the transfer, whichever is higher.
- Pay no foreign transaction fee on purchases made outside the U.S.
- Late payments won’t affect your APR but you may be subject to a late fee of up to $37.
Extras, perks and using points
The Uber Visa card earns points back at a value of 1 cent per point. If you spend $1,000 in a month on dining out, you’ll earn 4,000 points, which can be redeemed for either $40 worth of Uber credit, cash-back as a statement credit or gift cards. There is no fee to redeem your points. Uber redemptions start at a minimum of $5 and cash back or gift card redemptions start at $25.
This card comes with Visa Signature benefits which include auto and travel protections and insurance, hotel discounts and benefits at participating properties. It also provides extended warranty protections on qualifying purchases.
How this card compares
When it comes to rewards value, the Citi Double Cash Card ranks among the very best cash-back credit cards that charge no annual fee.
So why, you might ask, does this card not receive a higher score from Bankrate? There are a couple reasons, but the main thing dragging this card down is this: Because Citi Double Cash offers no sign-up bonus, it struggles to compete with many cards in this category.
Depending on your spending habits, the no-annual-fee Blue Cash Everyday Card from American Express may ultimately give you better cash-back earnings with a rate of 3% at U.S. supermarkets (up to $6,000 annually, then 1% thereafter), 2% at U.S. gas stations and select U.S. department stores and 1% on all qualified spending.
If you’re looking to earn maximum rewards back on your everyday shopping, you may want to consider the Amazon Prime Rewards Visa Signature Card. The card is free with a $99 Amazon Prime membership and pays 5% back on all Amazon.com purchases.
The Barclaycard Arrival Plus World Elite MasterCard will likely appeal to those who want the most flexible redemption options for their miles. You can use your earnings to book travel, get a statement credit for travel purchases, or for gift cards and select merchandise. This may be of greater value to you depending on your spending habits.
Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines, or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.