SAN FRANCISCO—Details have been released around a new credit card offering from Uber.
As CUToday.info reported here, Uber had earlier announced plans to partner with British Bank Barclays on a credit card to complement the debit card it already has in the market. Now specifics of the card offering have been made available.
For credit unions, it means another battle to fight in an already competitive market full of the deep-pocket major banks’ rewards offerings, Uber’s new card carries no fee and has a goal of becoming a major part of consumers' everyday spending habits, the Associated Press reported.
While it will use points, the Uber Visa Card is designed as a cash-back loyalty program. Paying for an Uber ride will get the cardholder 2% cash back. Other rewards include: 4% cash back for every dollar spent on dining including Uber's UberEATS on-demand food delivery service; 3% cash back on airlines, hotels and vacation home rentals like Airbnb; 2% cash back on online purchases and subscriptions; and 1% cash back on all other purchases, the AP said.
The Uber card will also give a small $50 annual credit toward online subscriptions, such as to Netflix, Hulu or Amazon Prime, if the customer spends $5,000 on the card in a year, the AP noted.