Uber credit card review – Forbes Advisor

Earn rewards

Cardholders earn rewards through purchases in three categories, all in the form of Uber Cash, a significant change from its predecessor. Previously, cardholders had a four tier rewards program (4% / 3% / 2% / 1%, respectively): restaurants, hotels / airline tickets, online shopping, and whatever else was available. in a flexible dot format. Now a three tier program is used (5% / 3% / 1%, respectively): Uber apps, restaurants / hotels / plane tickets and everything in between.

Cardholders earn 5% in Uber Cash for all net purchases made using Uber apps. These Uber services include Uber rides, Uber Eats, and JUMP bikes and scooters. All levels of Uber ridesharing services (i.e. UberX and Uber Black) are treated the same in terms of rewards.

Cardholders earn 3% in Uber Cash on purchases of hotels, airline tickets, and restaurants. Most importantly, restaurant purchases made through the Uber Eats app are rewarded at the top 5% reward rate for Uber purchases. Bars and fast food restaurants are both included in the definition of restaurants, according to the terms and conditions. The hotel category also includes vacation rentals and shared house exchanges like Airbnb.

All other net purchases earn 1% in Uber Cash. The old online shopping category, which included streaming subscriptions, is now lowered from 2% to 1% and placed in the general rewards category at the lowest level.

Redeeming rewards

With the new Uber credit card, all Uber Cash rewards can be redeemed for purchases in Uber apps. A minimum balance of $ 0.01 in Uber Cash is required for redemption, similar to the previous rewards redemption requirement.

The most important redemption changes are the threshold and the maximum balance. Once a cardholder earns at least $ 50 in Uber Cash through net credit card purchases, that balance is automatically deposited into the Uber Cash balance in cardholders’ Uber apps. The two Uber Cash balances are linked but treated separately. The in-app Uber Cash balance does not have a maximum before the required redemption. The Uber Cash balance on credit cards will begin auto-depositing to the in-app Uber Cash balance once $ 50 is reached.

Reward potential

To determine the rewards potential of the Uber credit card, we need to look at the bonus categories and calculate what an example American household might spend in those areas. Forbes uses data from various government agencies to determine both basic income and average expenses in various categories. The 70th percentile of salaried households earns $ 100,172 per year and we base our spending on that number.

The Uber card reports:

  • 5% back in Uber Cash on Uber, Uber Eats and JUMP journeys
  • 3% back in Uber Cash on restaurants, bars, hotels and plane tickets
  • 1% back in Uber Cash on all other purchases

The $ 900 our witness family spent on carpooling would bring in $ 45 in Uber Cash and $ 1,200 in Uber Eats would bring in an additional $ 60 in Uber Cash. Forbes estimates that our household spends an additional $ 3,206 on restaurant meals and $ 3,185 on travel, which works out to $ 191.73 in Uber Cash. The remaining $ 17,919 that could reasonably be charged on a credit card earns $ 179.19 Uber Cash for a total annual income of $ 475.92 Uber Cash on top of the first year welcome bonus.

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