Uber’s new no-annual-fee credit card comes with some sweet perks

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Uber Visa Card
Image Credit: Uber
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Uber is ready to throw down with a sweet offer for anyone who wants its first-ever credit card!

RELATED: Clark Howard goes undercover as a Lyft and Uber driver

Here’s what the Uber credit card offers

Beginning Nov. 2, the ride-sharing company will start accepting applications for its new Uber Visa Card.

In a blog post, the company notes that cardholders will be able to earn rewards of a penny on every dollar spent for most purchases, with higher levels of reward points assigned to other purchasing activities:

  • 4% back on dining and bars (including UberEATS)
  • 3% back on hotel and airfare (incluidng vacation home rentals)
  • 2% back on online purchases (including those made with Uber itself)
  • 1% back on everything else

The Uber Visa Card, which will be issued in conjunction with Barclays, has no annual fee — which is a big bonus.

But watch out for that interest rate of 15.99%, 21.74% or 24.74% (depending on your credit) if you carry a balance! (You should never carry a balance from one month to the next!) 

 As an introductory offer, you can also earn $100 after spending $500 during the first 90 days.

Uber Visa Card

Here’s a rundown of some of the other perks:

No foreign transaction fees

Most credit card issuers charge around 3% if you use their card outside the United States.

Not so with Uber Visa Card, which has zero transaction fees!

Mobile phone insurance

You’ll get up to $600 for phone theft or damage when you pay your wireless bill with Uber Visa Card.

And you’re only responsible for a $25 out-of-pocket deductible!

Special invites

Uber says cardholders will also get invites to events, secret shows and dining experiences in select U.S. cities.

But this might be the biggest perk of all…

The Uber Visa Card comes with an annual $50 subscription credit that can be used for services including Spotify, Netflix and Amazon Prime membership.

This credit recurs every year once you spend $5,000 annually.

Clark Howard’s take

Money expert Clark Howard is always quick to note that cards like this will only work in your life if you’re a net payer, i.e. you pay your bill in full each and every month.

If you tend to carry a balance from month-to-month, any benefit of the Uber Visa Card could get eaten up pretty quickly with interest charges.

In that case, you’re probably better off with a credit card from your local credit union. They tend to have lower interest rates than the cards from the big financial institutions.

RELATED: How to use credit cards to benefit your financial life

Watch Clark go undercover as a Lyft and Uber driver!

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Theo Thimou About the author:
Theo is director of content for clark.com. He has co-written 2 books with Clark Howard, including the #1 New York Times bestseller Clark Howard's Living Large in Lean Times.
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