Uber Visa Card Review: Up to 4% Back and No Annual Fee

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If you’re looking for a new cash-back card that offers more bang for your buck than other cards on the market, you should check out the new Uber Visa Card. Launched earlier this year, the Uber Visa card offers a surprisingly high rate of cash-back rewards in popular categories like travel and dining out. Not only that, but it comes with no annual fee and added perks that could make it a valuable addition to any wallet.

Even if you don’t actually use the rideshare service, don’t be too quick to write off this card. While you can redeem your points for Uber rides, you can also cash them in for gift cards or regular ol’ cash back. And, did we mention this card has a signup bonus?

Keep reading about this new rewards card that will likely go head to head with other popular cash-back cards like the Chase Freedom® and Citi Double Cash Card.

The Simple Dollar’s Key Takeaways

  • Great earning potential. The new Uber Visa Card offers some pretty stellar earning tiers that could benefit almost everyone. Not only will you earn 4 points per $1 spent on dining including restaurants, bars, UberEATS, and takeout, but you get 3% back on hotels, airfare, and vacation home rentals (such as Airbnb). You’ll also score a generous 2% back on online shopping, video and music streaming services, and Uber rides, along with 1 point per dollar spent on all other purchases.
  • No annual fee. Amazingly, the New Uber Visa card doesn’t charge an annual fee of any kind.
  • Signup bonus. At the moment, you’ll score a sweet $100 signup bonus after you use your card for $500 in purchases within three months of account opening.
  • Added perks. In addition to the card’s more obvious perks, the Uber Visa Card offers a $50 annual credit for streaming services after you spend $5,000 on your card each year, up to $600 in mobile phone protection, and no foreign transaction fees.

Review: A Stellar Cash-Back Card for Travelers or Frequent Diners

If you’re angling for a rewards card that offers a cash-back structure you’ve never really seen before, the Uber Visa Card might be right up your alley. While there are many cards that offer high rates of return on travel and dining, almost all of them charge an annual fee. Take the Chase Sapphire Reserve℠, for example. This card doles out 3 points per dollar on travel and dining (along with other benefits), but comes with a staggering $450 annual fee.

Still, among traditional cash-back cards, the Uber Visa Card stands out. Where there are several no-fee cash-back cards that offer 1.5% or even 2% cash-back, their offers pale in comparison to the 3-4 points per dollar you can earn on travel and dining with the Uber Visa Card.

The new card’s signup bonus is a nice touch, and so is the fact that you don’t have to redeem points for actual Uber rides. According to Uber and the card’s issuer, Barclaycard, you can redeem your rewards for Uber rides, gift cards, or cash-back with “a simple tap.”

Add on the free cell phone coverage and $50 credit for streaming services and you’ve got a real winner. Since this card doesn’t charge an annual fee, there’s nothing to lose – so what’s not to like?

Uber Visa Card: Where It Falls Flat

While the new Uber card has a lot going for it, it still faces some of the common challenges of other traditional cash-back cards. While it’s great you can redeem your points for gift cards or statement credits along with Uber rides, you can’t transfer to airline or hotel loyalty programs like you could with the Chase Sapphire Preferred® Card or other premier travel cards, for example. Not only that, but the Uber card doesn’t offer any additional travel perks such as airport lounge access.

Last but not least, some of the card’s “extras” come with added stipulations. To take advantage of the $50 annual credit for streaming services, for example, you have to spend $5,000 on your card every year. Further, the $600 in cell phone coverage is only good if you use your card to pay your cell phone bill every month.

Who This Card Is Good For:

  • Anyone who spends a ton on dining and travel.
  • People who want to earn cash back instead of travel rewards.
  • Cash-back enthusiasts who are against paying annual fees.

Who Should Pass:

  • Travelers who want to be able to transfer points to hotel and airline loyalty programs.
  • Anyone who wants special travel benefits like airport lounge access or hotel or airline status.
  • People who don’t spend a lot on travel, dining, or online purchases who may be better off with a flat-rate cash-back card.

How Does the Uber Visa Card Compare to Other No-Fee Cash-Back Cards?

Before you can decide whether the Uber Visa Card will leave you better off, it helps to know how its benefits stack up to competing cards. The chart below will give you a good idea of which cash-back cards might suit your tastes and spending style the best:

 Uber Visa CardChase Freedom®Citi® Double Cash Card
Signup BonusEarn $100 after you use your card for $500 in purchases within three months of account openingEarn $150 after you use your card for $500 in purchases within three months of account opening. Terms Apply.$0
Annual Fee$0$0$0
Earning StructureEarn 4x points on dining, 3x points on travel, 2x points on online shopping, Uber rides, and online streaming services, and 1x points on all other purchasesEarn 1% cash back on all purchases, plus 5% cash back on your first $1,500 spent in categories that rotate every quarter. Terms Apply.Earn 1 percent back when you make a purchase and another 1 percent back when you pay it off
Redemption OptionsRedeem for Uber credits, cash-back, or gift cardsRedeem for cash-back, gift cards, travel, or merchandiseRedeem for statement credits, gift cards, or a check

As you can see, the Uber Visa Card really pulls ahead for people who spend a lot on travel and dining. Earning 3x points and 4x points in those categories respectively is a huge boon for anyone who spends a lot and wants the most bang for their buck.

It also helps that these categories never change or rotate. While the Chase Freedom® does offer 5% in back on certain purchases, those bonus categories rotate every three months. Not only that, but the Chase Freedom® limits your 5x earnings to the first $1,500 spent in bonus categories each quarter, whereas the Uber Visa Card lets you earn unlimited rewards.

The Citi® Double Cash Card is always a winner since it doles out a flat 2% back – 1% when you make a purchase and another 1% when you pay it off. However, it doesn’t offer a signup bonus and you’re limited to 2% back no matter what you buy.

Best Strategy With the Uber Visa Card

If you’re on the fence about the Visa Uber Card and unsure which cash-back card will leave you better off, here’s my advice: Sign up for the Uber Visa Card and at least one other cash-back card with alternate rewards.

Let’s say you signed up for the Uber Visa Card and the Chase Freedom®, for example. You could use the Uber Visa Card for dining (4x points), travel (3x points), and online purchases (2x points), then use your Chase Freedom® for your first $1,500 spent in categories that rotate every quarter.

You could also pair this card with a top travel card if you wanted. If you had the Chase Sapphire Preferred® or Reserve, for example, you could use those for their premier travel benefits and transfer partners while racking up some solid cash-back with your Uber Visa Card. With no annual fee and high bonus categories, the Uber Visa Card is a good addition to any point-earning strategy.

Want Flat Rate Rewards? Consider This Card Instead

If you don’t want to worry about which categories pay out more and prefer a cash-back card that is entirely predictable, the Citi® Double Cash Card is probably your best bet. As we mentioned already, this card offers a flat 2% back on everything – 1% when you make a purchase and another 1% when you pay it off. And you get all this cash-back without an annual fee.

While you may not earn as much over time if you spend a lot on dining or travel, you’ll at least know exactly how much to expect based on your regular spending.

The Bottom Line

Earning cash-back on your regular spending is a smart move if you’re able to pay your balance in full every month. You might as well get something in return if you’re going to spend anyway, right?

If you just so happen to spend a lot on travel, dining, and online shopping, the Uber Visa Card should definitely be on your short list. Not only does it offer up to 4% back in bonus categories, but it doesn’t charge an annual fee, either. Its signup bonus and added features are just icing on the cake.

Holly Johnson is an award-winning personal finance writer and the author of Zero Down Your Debt. Johnson shares her obsession with frugality, budgeting, and travel at ClubThrifty.com.

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Are you considering the Uber Visa Card? Why or why not?

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