Barclaycard & Uber Are Introducing A Credit Card This Fall

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The credit card industry in the US gets bigger by the year, and as a result we’re seeing a lot of new credit card products introduced. While just about all the major hotel chains and airlines have co-branded credit cards, I’ve said in the past that I’m surprised we don’t yet have credit cards from Airbnb, Uber, etc. Well, at least one of them will be getting a co-brand credit card shortly.

The Wall Street Journal reports that Uber and Barclaycard are partnering to introduce a new credit card this fall, which will be a Visa card. The new partnership was announced this past Friday during Barclays’ earnings call. Uber is looking at this not just as an opportunity to directly generate revenue through the product, but also to create more brand loyalty. People are consistently loyaler to brands when they have a credit card issued by that company, so that’s probably also a major goal here.

The story also indicates that Lyft is working on a co-brand credit card according to “sources familiar with their plans,” though there are no further details there yet.

We don’t yet know what the Uber credit card will look like in terms of the rewards structure. While I have no inside knowledge, I would guess:

  • The sign-up bonus, if there is one, will come in the form of Uber credits
  • The return on spend may come in the form of either Uber credits or cash back
  • The card will have a bonus category for Uber purchases
  • The card will come with Uber VIP, which doesn’t get you a whole lot
  • Assuming the card has an annual fee, maybe the card will offer an annual Uber credit of some sort (we’ve seen Barclaycard offer an annual bonus on some of their other products, like the JetBlue Plus Card)

I’m also curious what this means for Uber’s other partnerships. For example, The Platinum Card® from American Express offers a $200 annual Uber credit, so it will be interesting to see whether that continues when Uber ties the knot with Barclaycard. It’s entirely possible they’re able to maintain both partnerships.

Uber-Amex-Platinum

Bottom line

I’m curious to see what Barclaycard and Uber come up with. While Barclaycard generally does a good job with their co-brand products, I’m skeptical as to what they can come up with here. It seems to me that this will be a cash back (either in the form of real cash or Uber credits), so I don’t think there will be all that many opportunities to get outsized value. I’d of course like to be wrong.

What would you like to see from an Uber Visa Card?

(Tip of the hat to Doctor of Credit)

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Comments

  1. Oh wow, this is interesting. Uber has had an ongoing promotion with Barclaycard in the UK (one free ride for every 10 rides when paying with a Barclaycard) for most of this year, looks like this is the next step of the partnership.

  2. If the card has an annual fee, I think it will be challenging to find value in it, especially when you get 3x travel with the CSR.

    Besides, Barclaycard isn’t my favorite issuer.

  3. If Uber is smart, they will create a loyalty program that is better than Uber VIP, with good tiers, etc. And the card will contribute to earning tiers/credits in the loyalty program.

  4. Uber conducted a survey of customers about 6-9 months back asking various questions on what benefits people wanted/liked. One that I do recall it asking prominently about when wanting people to rate benefits was around cellphone warranty (i.e. like the Wells Fargo cards), together with the anticipated ones such as Uber credits. My recollection was I saw it as a mid-range card with some benefits, a bit like some of the hotel and airline cards.

  5. My concern about this card is that the public will lose the bonuses they received from uber using other products (i.e. AMEX points bonus, ibotta etc).

  6. Why are a bank like Barclay getting involved with a company like Uber in London there is a sexual assault or harassment reported on average every 11 days

  7. uber has great opportunity to make more money more customers if uber share the profit even $0.01 yearly profit return to the customer with pooling , every one willing to joint if they expect in return reward. if uber want to catch the big fish , uber must bait with a little fish. no bait no fish just dreams

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