New Uber Visa Card Now Available

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Quick Summary

Points can be redeemed for cash back. Other redemption options are not worth considering.

The signup bonus is $100 after spending $500 in 90 days.

  • 4% cash back on dining
  • 3% cash back on airfare, hotels, travel agencies, and vacation home rentals including AirBnB
  • 2% cash back on online shopping

Among this card’s other benefits, two main highlights are a $600 cell phone insurance benefit ($25 deductible) and a $50 subscription credit (i.e. Netflix), but the latter requires spending $5,000 in a year to activate. Also, there are no annual or foreign transaction fees.

Should You Get This Card?

It is fairly easy to find a credit card with a $400+ signup bonus either with no annual fee or the first year’s annual fee waived. Keeping that in mind, this card’s bonus is a mere $100, so I would rather apply for another card unless I felt that the benefits of this card were worth $300+. Also note that credit cards giving 2% cash back on all purchases with no annual fee are pretty easy to find too. I’ll spare a lengthier analysis and say the following:

  1. If you travel and dine a lot, especially internationally, consider the Chase Sapphire Reserve card.
  2. If you dine a lot (>$400/month) but don’t travel, and have $100,000 to put on deposit with Bank of America or Merrill Edge, consider the Bank of America Premium Rewards card.
  3. If you dine a lot (>$400/month) but don’t travel, and the $100,000 requirement in #2 is an issue, consider the Uber card… Unless you already have the Citi Costco Visa card (3% cash back on travel & dining, also 4% cash back on gas), in which case the incremental upgrade on dining purchases probably isn’t worth it.
  4. If you dine out a bit but less than $400/month and don’t travel much, or if you already have the Citi Costco Visa card, consider any number of other cards that just have a large signup bonus ($400+) and cancel those cards later if they have annual fees you don’t want to pay.
  5. If #4 sounds like too much work, or if you break your phone a lot, then fine, get this card.

Personally, I won’t be signing up for this.

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