We don’t yet know what the benefits will look like for the card.
- It will certainly bonus Uber spend, though of course Uber is categorized as travel by several cards that bonus the broader travel category already.
- Uber already offers rewards, providing Starwood Starpoints based on spend.
- And the American Express Platinum card provides a monthly Uber credit and UberVIP status (whether Barclaycard got Uber benefit exclusivity may not become known until the current American Express benefit contract runs its course).
While Barclaycard issues mostly MasterCard products, they do have a relationship with Visa, indeed their Priceline card is a Visa and they also have the Barclaycard Visa with Apple Rewards for instance.
Uber is losing a billion dollars per quarter but the biggest co-brand credit card deals run into the billions, it would be a twist if like the airlines which flew through rough times to preserve the underlying credit card business the ultimate road to profitability for Uber rode through the banks as well.
Lyft is reportedly looking at a co-brand credit card, and the next big win will be the bank that gets Airbnb.
(HT: Doctor of Credit)