Ride-sharing startup Uber is launching its own credit card. Yes, you read that right.
The startup, which has been dogged by scandal after scandal this year, is launching its very own credit card and prospective owners can apply for a card from November 2.
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The card offers spenders cashback on a variety of things, including restaurants and UberEats purchases, air travel, online purchases including Uber rides, and music streaming services.
Uber has added some additional benefits to get people to sign up to the card. If you spend $5,000 or more on your card per year, you will receive up to $50 credit for online subscription services. As well, in the same way an American Express card gives your air miles, reward points on the Uber card will go towards Uber rides.
Potentially free Netflix and Uber rides – what could be better? Unless you live in London or one of those other cities where Uber has had its license revoked.
At the moment the Uber credit card is only available in the US and there’s no word yet on if it will be expanding elsewhere yet.
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By GlobalDataAnd if you’re concerned about the extra data Uber could be collecting about you and your spending happens, the startup says not to worry. The issuing bank, Barclays, gets access to that kind of information but all Uber gets is the amount of money spent using the cards. As well as the Uber credits customers will rack up through spending.
Uber isn’t the first tech company to have its own credit card
Companies have been offering their own credit cards for years. From online retailers like Amazon to traditional retailers including John Lewis in the UK and Saks Fifth Avenue and Target in the US.
However, it seems like most companies that offer credit cards are retailers. This encourages you to spend in store or online.
Uber might be the first transport company, because it is a transport startup let’s be honest, to offer this. With its UberEats portfolio though, it sort of is becoming more of an online retailer in a way.
Still, with all the Uber problems particularly over data, it’ll be interesting to see how many people do sign up for the Uber credit card come next week.
