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Cap One gets you Uber rewards

By Jeanine Skowronski ·
Tuesday, April 21, 2015
Posted: 10 am ET

A Capital One Quicksilver credit card now entitles its holder to Uber rewards.

The issuer announced it has partnered with the popular rideshare service.

Why should you care?

Starting today, consumers will receive 20 percent cash back on Uber rides through April 2016 when they pay with their Quicksilver credit card. Cash will be refunded as a statement credit within one to two billing cycles of your ride.

Quicksilver cardholders who are new to Uber can also score two free rides -- up to $30 each -- if they create an Uber account before June 30. You'll have until April 2016 to cash the rides in. The 20 percent cash back offer applies to all Uber rides, even those that take place outside the U.S.

The rest of the story

Uber is a mobile-based taxi service that operates out of more than 300 cities in 56 countries. Passengers use an app to find nearby drivers, many of whom use their personal cars. (You can check to see if Uber ride shares are offered near you here.)

Capital One says it launched the partnership as part of its focus on convenient and innovative digital solutions.

"This partnership is a great opportunity to further save our cardholders time and money by helping make the Uber experience more rewarding," Todd Kennedy, a Capital One senior vice president, said in a press release.

The Capital One Quicksilver card lets cardholders earn 1.5 percent cash back on all purchases. It carries no annual fee, no foreign transaction fees and an annual percentage rate, or APR, between 12.9 percent and 22.9 percent, depending on creditworthiness. There is an introductory APR offer that lets you pay a 0 percent APR through January 2016.

The average APR on variable-rate credit cards, as of April 16, was 15.82 percent.

Does a basic car insurance policy cover a ride-sharing driver? Check out this Bankrate adviser to find out!

Follow me on Twitter: @JeanineSko.

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