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Uber has introduced its new Barclaycard co-branded credit card, the Uber Visa Card. Oddly the card only offers 2X earning per $1 spent on Uber rides, but does have some other excellent perks including 4X earning at restaurants and no foreign transactions fees. The restaurant earning, and lack of foreign transaction fees are fantastic for a no annual fee card. The card earns points which can then be converted into cash back at a rate of 100 points per dollar.
Uber Visa Card Key Features
- No annual fee
- Earn 4% back on dining at restaurants, takeout, and bars including Uber Eats
- Earn 3% back on hotel and airfares, includes vacation home rentals
- Earn 2% back for online purchases, includes Uber rides, online shopping, video, and music streaming services
- Earn 1% on all other purchases
- No foreign transaction fees
- Earn a 10,000-point (equivalent to $100 cash back) bonus after spending $500 in the first 90 days of card membership
- Earn a $50 credit for online subscription services after you spend $5,000 or more on your card per year
The 4% earning on restaurants is industry-leading. There are no cards that will consistently offer a return this high. While some other cards can occasionally beat it during promotions, for everyday restaurant earning it will be top dog.
Although there are plenty of cards that offer no foreign transaction fees, such as The Platinum Card® from American Express (Terms Apply - Rates & Fees), or the Chase Sapphire Reserve®, the majority are ultra-premium cards with annual fees running several hundred dollars a year. For a no annual fee card, this is a great travel perk on the Uber Visa Card.
The 3% return on hotels and airfare is not industry-leading and there are several other cards that can easily match it. However, when you marry 3% with no annual fee and no foreign transaction fees it becomes quite an interesting benefit of the Uber Visa Card.
How Does The Card Stack Up
The new Uber card stacks up reasonably well against other cards. Comparing it to a variety of cards including a similar placed card like the Chase Freedom or a premium credit card such as Chase Sapphire Preferred® Card or even an ultra-premium card like the Sapphire Reserve reveals that the Uber Visa Card stacks up reasonably well for dining, travel, and foreign transaction fees, especially against similarly placed cards.
The card offers no annual fee, and has the same 1% standard earning rate with a possible quarterly 5% earning at restaurants, but it is beaten by the Uber card for everyday spending on dining, hotel and airfare, and online purchases. Another key difference is that the Chase Freedom® does charge foreign transaction fees. Remember, the 5% back category rotates each quarter, so at best you'll earn 5% in a single quarter, which is capped at $1,500 in spend — the Uber Visa Card has no cap on earning.
A premium travel rewards credit card, the Sapphire Preferred has a $95 annual fee. It offers 2X points on travel and dining at restaurants. Similar to the Uber Visa Card it has no foreign transaction fees. However, Ultimate Rewards earned through this card, on a 1:1 basis are more valuable than the rewards earned through the Uber Visa Card as they can be transferred to airline partners significantly enhancing their value.
An ultra-premium travel rewards credit card, it has one of the best-earning rates for travel and dining at 3X and also has no foreign transaction fees. Although the perks do come with a hefty $550 annual fee. These high earning rates and the flexibility make the Sapphire Reserve one of the best cards out there, especially for travel and dining.
The standout features of the Uber Visa Card are 4% earning at restaurants and the 3% on hotel and travel, as well as the no foreign transaction fees. Consistently earning 4% back on dining could turn the Uber Visa Card into your go-to dining card. While other premium cards like the Sapphire Reserve can offer better overall value on dining its does come with a hefty fee. When you consider that Barclaycard is working on the ability to convert points to frequent flyer miles, if this happens and the transfer rates are 1:1, it could turn the Uber Visa Card into one of the very best travel rewards cards on the market.
For rates and fees of the cards mentioned in this post, please visit the following links: The Platinum Card® from American Express (Rates & Fees)
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