Uber to release own-brand Visa credit card
Ride hailing giant Uber announced at the Money 2020 conference held in Las Vegas this week that it will be releasing its new Uber Visa Card on 2 November in partnership with Barclays and Visa.
The move is part of Uber’s ongoing expansion, something that has been sustained since its founding in 2010, despite numerous setbacks and significant controversy that has surrounded the company in recent times.
The credit card has been marketed as a no-annual-fee card, specifically aimed at regular Uber customers.
The card will offer both a benefits and loyalty system, including getting 4% back on any UberEATS purchases and earning points to redeem for rewards such as a free Uber ride, cashback or dinner.
In addition, users are provided with $50 annual subscription credit that can used on the likes of Spotify, Netflix and Amazon Prime, and a $100 bonus after spending $500 within the first 90 days of usage.
The card is likely to rival the likes of American Express, Chase and other credit card companies who have increasingly been offering more attractive offers in order to compete and lure more spenders.