Last Wednesday details were announced for the new Uber Visa from Barclaycard.
The card offers 4% back on restaurants. It has a $100 signup bonus. There’s cell phone protection and a rebate on Netflix or Spotify. It’s an interesting no fee card with no foreign transaction fees but it’s missing premium benefits from Uber.
The signup bonus is $100 (“10,000 points”) after $500 spend within 90 days of account opening.
- 4% back at restaurants and UberEATS
- 3% back on airfare, hotels, travel agencies, and Airbnb
- 2% back for online purchases and Uber
- 1% back on everything else
Note that PayPal, Venmo, Apple Pay, Samsung Pay and Android Pay do not earn the ‘online purchases’ 2% bonus, and online payments for utilities and government services don’t either.
The card earns points worth a penny apiece. So 4% back on restaurants means earning 4 points per dollar. Points can be redeemed for Uber travel, gift cards, or cash (statement credit or ACH to your bank account).
There’s no benefit to redeeming for Uber or gift cards vs. cash so you might as well take cash other than minimum redemption rules you can redeem points for $5 in Uber credit but the minimum for other redemptions is $25.
$5000 spend in a year earns a $50 statement credit for online services like Spotify, Sirius XM, Netflix, Hulu, and Amazon Prime.
The card also offers cell phone protection if you charge your monthly cell bill to it. They cover “stolen and damaged cell phones as well as involuntary and accidental parting of your cell phone.” The coverage is secondary to other insurance you may have and will provide up to $600 in coverage after a $25 deductible. There’s a maximum of 2 claims and $1200 in reimbursements per 12 months.
This seems like an interesting card especially for a no fee product, 2% back for online and 4% for restaurants especially, but there are premium Uber-specific benefits which are missing. Perhaps they need to offer a premium version of the Uber card.