Uber has announced this week that they will be partnering with Visa and Barclays to introduce their own credit card. The credit card will give Uber access to a huge amount of valuable customer data – including customer purchases. Uber already tracks information about customers, like where they travel and how much they spend on the app.
Uber is making it very easy to apply for one of their slick-looking credit cards. Users can apply for the card straight from their Uber app starting on November 2nd. The application will be compiled with all the information Uber already has on file for customers. As another option, people can also apply for the card online.
The application process for the credit card is speedy. Uber will give users the report results on their creditworthiness just minutes after submitting their application. The credit card becomes automatically available for use through the Uber app, and they will send a physical card in the mail in just a week.
Uber’s credit card comes with some pretty cool perks. Uber will give a bonus of $100 if you spend $500 in the first 90 days using the card. The card also gives 4 percent back on restaurants, take-out, and bars, 3 percent on airfare or hotels, 2 percent back on any online purchases, and 1 percent back everywhere else.
After you spend $5,000 on the card in a year, Uber will give a $50 credit for online subscriptions, and phone insurance of up to $600 if you use the credit card to pay your monthly phone bill. These incentives are another way Uber will be able to capture more information about their card users to find out where they are spending their money, and specific information about the mobile carrier they use and the types of phone plans they are on. As of now, Uber does not plan to sell any of the data they collect.
Some may be hesitant to jump on the bandwagon for Uber’s new credit card, given Uber’s history of taking customer information to the next level, like when they tracked user’s location even after leaving their Uber vehicle and closed the app.
The credit card will have annual percentage rates of 15.99, 21.74, and 24.74, based on how worthy the customer’s credit score is. Uber hopes this credit card will get them ahead on the customer loyalty front. The introduction of the credit card will place Uber as one of the greatest sources of customer information by tracking both online and offline purchases.
Felicia is a Multimedia Guru at RideGuru. She recently graduated from Bentley University with a B.S. in Marketing and minor in Computer Information Systems, and is currently attending Columbia University for her master's. She is an avid rideshare user who enjoys both domestic and international travel.