Uber is not just a company offering rides anymore. Uber is set to release its own rewards earning, no fees credit card, backed up by Barclays Bank and a partnership with Visa.
According to the ride-sharing service, the card is a way for the company to double down one of its more highly successful sub at businesses: UberEats, which is on track to earn over $3 billion in revenue this year. The Uber credit card will reportedly allow users to charge Uber rides to it, giving 2% cash back. It will also give 4% cash back on restaurants, take-out and bars. Users will also receive 1% back on purchases and 3% back on airfare, hotels and vacation home rentals.
Uber is making it easy for its users to apply for the credit card. Uber users can apply right on the card’s app, where much of the required information they need to fill-in is already there because of their previous Uber information on file. It only takes a few minutes for a determination of whether they qualify to receive the credit card. The Uber credit card is a no-fee card and offers a bonus of $100 after spending $500 in purchases within the first 90 days.
Additionally, it offers phone insurance of up to $600 if someone uses the card to pay their monthly phone bill. The good news is that Uber will not sell any of the data it has on each person to any third parties. Hopefully that policy will allow the company to redeem itself from its previous privacy issues, including a feature that was tracking user locations once they had left a vehicle.
