Related post: No, You Shouldn’t Get An Apple Card, Why Do You Ask?
Several readers have asked me about the newly refreshed Uber credit card.
If offers $100 of Uber credit after spending $500, 3% back in Uber credit on dining, hotels, and airfare, and 5% back in Uber credit on Uber rides and Uber Eats.
On paper that might sound good. But it’s a dud.
There are often deals we post for 10% or 20% off Uber gift cards. You can also save big via Amazon promotional offers when redeeming 1 point. Those offers significantly lower the value of earning credit card rebates in the form of Uber credit.
Additionally if there are no current offers for Uber credit, you can always use a Chase Ink Business Cash Card to buy Uber gift cards from an office supply store. That will earn 5 Ultimate Rewards points per dollar spent, which can be cashed out for a minimum of 5% cash back, which beats 5% back as Uber credit.
Or better yet, if you, an authorized user, or anyone in your household has or will get a Chase Chase Sapphire Preferred® Card® Card, Chase Sapphire Reserve®, or Chase Ink Business Preferred you can transfer those points into airline miles or hotel points or use them for paid travel with a 25% or 50% bonus, and they will be worth significantly more than 5% back! You can read more about buying gift cards with an Ink Cash card here.
3% back on dining, hotels, and airfare also sounds good, but once again you’re locked into getting it back as Uber credit, which isn’t really worth the full 3%. You’ll do better earning 2 or 3 Ultimate Rewards points per dollar for those categories on a Chase Chase Sapphire Preferred® Card® Card, Chase Sapphire Reserve®, or Chase Ink Business Preferred card.
The card comes with $600 of cell phone insurance, but only if you use the card to pay your monthly phone bill. You would only earn a measly 1% in Uber credit for that spending versus earning 5 points per dollar on Chase Ink Business Cash Card. Or you could get cell phone insurance and 3 points per dollar on the Chase Ink Business Preferred card.
If you have the old Uber card you’ll be notified and switched over to the new program.
Do you plan on getting the new Uber card?
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17 Comments On "No, You Shouldn’t Get An Uber Card, Why Do You Ask?"
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What’s wrong with signing up for the $100?
For you nothing. This post wasn’t written for you. Just make sure to not open more than 5 credit cards over the next 24 months, pay your Uber balances on time and you will be good.
Don’t be a jerk. If you think 100 on 500 spend isn’t helpful, explain why.
There are better signup offers out there than $100 in Uber credit (which is worth less than $100). This will also take up a 5/24 slot, delaying getter richer bonuses on better cards from other banks.
Do you mind explaining the 5/24 rule?
Also, I’ve been in love with my Uber Visa card (esp 4% on restaurants/bars) and this was really bad news. RIP.
Check this link
https://www.dansdeals.com/credit-cards/on-the-topic-of-chase-524/
Cause there’s nothing ruder than an Uber
Hi Dan – I opened this card last week because I felt like the cash back was worth it to me. Restaurants (previously at 4% cash back) are my largest spend. Do you see any reason to cancel it now vs keeping it open and not using it? I rarely open credit cards. I previously only had 2 and both were no fee cards.
What’s wrong to sign up for the phone insurance, it seems to be the only free card that provides that?
Nope. Many cards offer that.
The problem with this one is that it gives an extremely poor value for your cell phone spending.
A better option is listed in the post.
does a product change to a credit card (like downgrade) count toward 5/24? If the CC # changes…?
So I have the previous version of this card. Does mine get changed to this new format? I always use the 4% for rating out.
You should get an email. I think it changes in Q1 2020
Yes it will change for you starting Feb 2020
This is the only sensible post I’ve seen on this card since the revamp. I have had this card from last 1 and half year and these changes are nothing but “CRAP”! I am going to cut this card into pieces and throw it away! All other websites (excluding DOC) have been raving about the changes as positive! Uber PR might have been paying them handsomely! Keep the good work, Dan!
This article begins by confusing two very different types of offers.
Getting an X% off gift card is all very well. You still need to pay the remaining (1-X)% of your purchase on Uber. The question is – what credit card gives you the best reward rate for that.
If I don’t own a business, I wont (shouldn’t) be having a business card – so it takes the Chase Ink off the table.
If I don’t want to pay an annual fee, it takes the Chase Sapphire cards off the table.
So, I still end up with the best reward rate on Uber, from the Uber card itself.
You don’t need to own a business to get an Ink card. Any hobby will do.