Uber & Capital One Partnership Offers 20% Off Rides

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Over the past few years Uber has become a household name (and “Ubering” has even become a verb!), so it’s interesting to see the partnerships Uber has developed with other travel providers and credit card companies:

While the Starwood partnership is awesome (since they’re literally just giving you bonus Starpoints on top of what you’d otherwise earn), the American Express partnership isn’t as valuable, in my opinion. You can redeem Membership Rewards points for Uber rides at the rate of one cent per point — there are much better uses of those points.

Furthermore, you also earn 2x Membership Rewards points for Uber rides, though the Chase Sapphire Preferred® Card offers 2x points on all travel, while the Citi ThankYou® Premier Card offers 3x points on all travel. So even with the American Express/Uber partnership, there are still equal/better “returns” you can get for your Uber rides.

Capital One and Uber have just announced a new partnership, which actually does look really rewarding.

Uber-Capital-One-1

This partnership is limited exclusively to the Capital One Quicksilver Cards, and comes with the following benefits:

  • 20% back as a statement credit on every Uber ride paid for in USD through April 30, 2016 when you pay with your eligible Quicksilver card
  • First two rides free (up to $30 per ride) through June 30, 2015, using promotion code CAPITAL ONE for all Capital One cardholders, which includes anyone with a Capital One credit or debit card (the standard sign-up bonus is a free ride worth up to $20)

That 20% statement credit for Uber rides is huge. There’s no registration required, and there’s no limit to how many times you can earn the statement credit. The statement credit should post within 1-2 billing cycles of your eligible ride. It’s too bad the Quicksilver Cards aren’t otherwise more rewarding.

If you are a super frequent Uber user (I know people that spend $10,000+ per year on Uber), it could be worth picking up one of those cards almost exclusively for the Uber partnership.

Bottom line

I’m actually shocked by how generous this partnership is. Getting a statement credit worth 20% of the cost of every Uber ride is sort of unbelievable.

Is anyone thinking of picking up a Quicksilver Card almost exclusively for the 20% Uber statement credit benefit?

(Tip of the hat to Sam)

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Comments

  1. Just converted an existing Capital One Venture card to Quicksilver with no trouble using their online chat … had been keeping it mainly because it was one of the older cards on my credit report but now I have some reason to make use of it.

  2. Does Venture to QuickSilver conversion require the dreaded three credit pulls? Which card is $0 annual fee?

  3. 20% statement credit says in USD what about the $30 free ride? I’m heading to Tokyo in a few days and it would be awesome if this works…

  4. Just converted my journey it card into a quicksilver no AF.

    I use Uber a lot, second biggest credit card spend after restaurants so I did it exclusively for this statement rebate.

    I upgraded from a journey student rewards, so soft pull apparently. No $100 cash back on $500, no intro apr, and no credit line increase with upgrade, but with 21.5% back on Uber spending, I’m very comfortable with this decision!

  5. Update on my own question. I have a rebate that posted for an Uber transaction in Singapore on April 23 (statement closed May 2). However, no rebate yet for transactions in Singapore and Hong Kong between April 27 and April 30 on the same statement. Whats the experience of others?

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