UBER Gets Into The Credit Card Game??

Uber has become a household name over the past several years by picking us up and dropping us off with the click of a button on our mobile phone.  Effective November 2nd, Uber officially put its hat in the ring and made a foray into the credit card business by issuing a Visa card by Barclays.   The most interesting part of this that the applications can be processed right inside of the Uber app.

Uber, apparently thinks that they have tapped into a nerve because they realized their customers love two things: eating out and chilling with Netflix.

With the Uber Visa card, you can:

Stream with a $50 subscription credit for Apple Music, Pandora, Spotify, Amazon Music, Google Music, Audible, Sirius XM, Netflix, Hulu, HBO Now, DirectTV Now, the membership fee for Amazon Prime, and Shoprunner after you spend your first $5,000.

You can ride in Uber with peace of mind by having up to $600 of mobile phone protection for mobile phone damage or theft when you pay your mobile phone with the Uber card.

You will be able to get invites to exclusive events and offers in U.S. cities by Uber.

If you travel overseas, you’ll enjoy no transaction fees when you use the Uber Visa card outside of the U.S.

You can also use the Uber Visa redeeming rewards on the go for items such as Uber credits for rides, gift cards, and even cash back all facilitated by a simple tap on the app.

What’s also interesting about the card is that you can get 4% cash back for purchases made at restaurants and Uber EATS, 3% cash back on airfares, hotels, and travel agencies, and 2% back for purchases.

The card is ideal for those spenders looking for rapidly accrued rewards instead of big ticket items such as international airfare.  The card is designed by Uber with Visa to reflect the ideal customer who rides and uses Uber, with a slant for sure on millennials as their major target.

The Uber Visa’s rewards are not quite as rich as those offered by some of the big time credit companies such as the American Express Platinum card and the Chase Sapphire Reserve card. However, it is very comparable with the no-fee credit cards that are out in the marketplace today.

What’s next for Uber?  Who knows the answer, but don’t be surprised to see them in more businesses coming soon.

About the author  ⁄ Ted Jenkin @ Your Smart Money Moves

Ted Jenkin @ Your Smart Money Moves


My friends and family all think I’m a workaholic, but I say I’m just a guy that loves to help people do better in life.

My mother is still the only one that calls me by my real name Theodore Michael, my wife calls me Teddy, but for the rest of you it is just plain old Ted.

Ever since I was a little kid, I always loved money and being an entrepreneur. In fact, I still have cassette tapes of me talking to my grandmother at the age of five and my mother tells me all the time how much I played with money as a kid...

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Ted Jenkin is a frequent guest columnist for the Wall Street Journal and Headline News Weekend Express. He is the co-CEO of oXYGen Financial. You can follow him on LinkedIn @ www.linkedin.com/in/theceoadvisor or on Twitter @tedjenkin.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. oXYGen Financial is not affiliated with Kestra IS or Kestra AS. Kestra IS and Kestra AS do not provide tax or legal advice.

The opinions expressed in this commentary are those of the author and may not necessarily reflect those held by Kestra Investment Services, LLC or Kestra Advisory Services, LLC. This is for general information only and is not intended to provide specific investment advice or recommendations for any individual. It is suggested that you consult your financial professional, attorney, or tax advisor regarding your individual situation. 

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  • Avatar
    November 24, 2017

    Now this is really interesting. I have noticed they started getting a footing in many more countries than before, but to issue a credit card … now that’s interesting. We’ll have to see if it’s a good move for them (I kinda feel it is).

  • Ted Jenkin @ Your Smart Money Moves
    November 24, 2017

    They know their target market- that is for sure!

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