Uber credit card

Courtesy of Uber

The new Uber Visa credit card is here and it’s putting you in the fast lane toward some seriously sweet rewards.

If you had serious FOMO over the Chase Sapphire Reserve mayhem (because you were just not down with that annual fee), your patience is about to pay off.

Starting Nov. 2, you can apply for the no annual fee, Uber Visa credit card, offered in partnership with Barclays. Whether you spend your money on Netflix and chill, or boozing at a bar, this card is offering some serious cash back. Did Christmas just come early?

Uber app gif

Uber Visa cardholders earn unlimited:

  • 4% back on every $1 spent on restaurants, bars and takeout (including UberEATS).
  • 3% back on every $1 spent on airfare, hotels and vacation home rentals.
  • 2% back on every $1 spent on online purchases including Uber, online shopping, and video and music streaming services (certain online purchases excluded).
  • 1% back on every $1 spent on all other purchases.

Those categories are basically a millennial’s dream (Spotify! Netflix! Amazon! Uber! Airbnb!) and it gets even better.

The Uber card also offers:

  • Up to a $50 credit for online subscription services (like Spotify or Netflix) after you spend $5,000 or more annually on your card.
  • Up to $600 for mobile phone damage or theft when you pay your mobile phone bill with your card.
  • A $100 reward after spending $500 with your card in the first 90 days.
  • Exclusive access to events in select U.S. cities.
  • No foreign transaction fees.

With this card, 1 cent = 1 point, and points can be redeemed as cash back for statement credit, Uber credit (because duh) or gift cards.

Bankrate points out Uber’s card beats out every other no-fee credit card when it comes to restaurant rewards. Plus, it’s on-par with the travel rewards offered by those ~fancy~ premium travel credit cards that come with hefty annual fees. If you tend to carry a balance on your credit card, though, this likely isn’t the card for you. The variable 15.99 percent to 24.74 percent APY will be a buzzkill on your monthly bill.

IMHO, the sign-up reward is meh, but the aggressive rewards structure is what makes this card a good candidate for that empty slot in my wallet. I’m already plotting ways I can use those points.

The caveat with these cards is this: You have to pump the brakes every now and then with your spending. While racking up those points can be addicting (it’s like a drug, people!), keep your spending in control (remember my credit utilization rule!) and only spend on the things you normally would without the prospect of points. You’ve worked so hard to build your credit like a boss, so don’t let that hard work go to waste!

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