Uber VISA rewards cut

[Jags4186]

EXCEPT...The Premium Rewards card allows you to redeem for cash while the free one does not. Also, the annual fee is easily offset by the airline credit and Global Entry credit.

Once a year book a refundable plane fare.
Redeem Travel Rewards to offset charge.
Cancel flight.

[H-Town]

This was one of the best cash-back cards for dining, but unfortunately the rewards were too rich to last. I just received an email from them explaining that they will no longer pay rebates in cash (just "Uber Cash" redeemable for "Uber rides, Uber Eats, or rides with JUMP bikes and scooters"). They're also cutting the rebate percentage for restaurants and bars to 3% and cutting the rebate percentage for online purchases to 1%. More information below, from their email:

Good things never last. Oh well... it's been a great card.

[ThePrince]

Thanks for sharing. Reducing the dining rewards, eliminating the subscription benefit and eliminating cash back are significant negative changes. This card just dropped off my “must have” list even if it retains the cell phone insurance.

Agreed. I’ll likely call and cancel the card. It was great while it lasted.

[SrGrumpy]

I'll cancel, but keep it in my wallet. I enjoyed flashing it to friends who hate Uber.

[HEDGEFUNDIE]

If anyone is looking for a replacement card with no annual fee, check out the Sears ShopYourWay MasterCard

5% on gas
3% on restaurants and grocery
(up to $10k in spend)

And it has regular promotions too. Right now they’ve upped the categories above to 10% back for the rest of the year (up to $1,200 spend/month).

[cowbman]

EXCEPT...The Premium Rewards card allows you to redeem for cash while the free one does not. Also, the annual fee is easily offset by the airline credit and Global Entry credit.

Once a year book a refundable plane fare.
Redeem Travel Rewards to offset charge.
Cancel flight.

Hotels can be used too, but not everyone wants to deal with it.

[SrGrumpy]

If anyone is looking for a replacement card with no annual fee, check out the Sears ShopYourWay MasterCard

5% on gas
3% on restaurants and grocery
(up to $10k in spend)

And it has regular promotions too. Right now they’ve upped the categories above to 10% back for the rest of the year (up to $1,200 spend/month).

I don't believe cash back is an option, though? I signed up with Shop Your Way via Gas Buddy, all my points expired somehow, and I get spammed with emails for which there is no Unsubscribe option. TBH I did not realize Sears was still a thing.

Correction. I can unsubscribe from emails. But I want to break up completely, which requires a phone call.

[GoPackGo]

Another option is the Chase AARP Credit Card.

• 3% groceries
• 3% gas stations
• 1% anything else

You don't need to be an AARP member. I like this over the Wells Fargo Propel because there is no minimum on the rewards redemption amount on the Chase card, while the Wells Fargo card has a $25 minimum in $25 increments restriction.

[cowbman]

Another option is the Chase AARP Credit Card.

• 3% groceries
• 3% gas stations
• 1% anything else

You don't need to be an AARP member. I like this over the Wells Fargo Propel because there is no minimum on the rewards redemption amount on the Chase card, while the Wells Fargo card has a $25 minimum in $25 increments restriction.

For those that are eligible, Navy Federal has the More Rewards American Express which offers 3% on supermarkets, gas, transit, and restaurants, and 1% elsewhere with no annual fee, foreign transaction fees, balance transfer fees, or cash advance fee.

[runswithscissors]

I apologize if this is a dumb question... but I'm assuming you would need a spouse as an additional card holder (under a totally different credit card account but same BoA/Vanguard account) in order to have multiple BoA Cash Rewards cards to raise the $2,500 quarterly cap on 5.25% CB. And even then it would be limited to two cards in two rewards categories. Each card would have a $2,500 quarterly cap allowing up to $5,000 per quarter in 5.25% CB spending. How does one have four similar cards?

You are assuming wrong. At https://www.bankofamerica.com/credit-ca ... dit-cards/ you will see that there are 5 different no-fee cards with the same exact benefits: Bank of America® Cash Rewards, Susan G. Komen® Cash Rewards, MLB®, World Wildlife Fund, U.S. Pride®. So, exactly like I have multiple Citi cards or multiple Chase cards, over the span of a couple years I opened 4 different BOA cards and I use each of them for a separate category, occasionally rotating them if I exceed the spending in a quarter.

Thank you for that information. I did not realize BoA offered different cards with nearly identical CB cards.

Currently I am using Alliant's 2.5% CB card with no limit but $99 AF. I spend roughly $70K annually on my card netting about $1,650 in CB after the AF (2.35% effective CB). I was aware of the 2.625% CB with the >$100K in BoA/Vanguard account but I am currently earning a little over 2% in an online savings account (FDIC insured) on my cash holdings. I am currently in a cash position and don't plan to change this in the near future.

If I moved $100K to BoA/Vanguard, is it possible to earn ~2% with almost no downside risk in this account? I am currently earning about $2,100 annually on every $100K chunk sitting in my risk-free savings account. Earning 5.25% on a couple categories would be nice but I don't want to give up current interest income to increase my cash back by what is likely to be about $500 in additional CB annually.

[BeneIRA]

I've primarily been using this card for dining and sporadic travel costs. This feels like a delayed bait and switch, and I'm starting to think the credit card industry as a whole may be trying out the idea of teaser benefits for a year or two before cutting back. A lot of the benefits of the Citi DoubleCash card were recently cut as well. Kinda hoping a mass exodus from the Uber card will serve as a warning to the companies that this kind of behavior won't be tolerated by the consumers.

That's pretty much what it is, but I wouldn't think their intentions are nefarious necessarily. As much as I dislike Barclays, they are just not a very good credit card company, not necessarily evil geniuses. Their plan was to suck everyone in with pretty great benefits on a no annual fee card while changing the benefits later? People probably used it exclusively for dining and little more than that and Barclays took a loss. They needed to shore up their losses, so cut benefits. These are the same geniuses that brought us a card, the Arrival+ that had one use, as a churnable card to gain $500-$700 in the first year and then cancel. They then thought the Arrival Premier was a good idea and they canceled that a few months after launch. They lose the Apple card contract. They have no idea what they're doing and I think they've finally realized they're clueless and are pulling out slowly from the U.S. credit card market.

[cowbman]

I apologize if this is a dumb question... but I'm assuming you would need a spouse as an additional card holder (under a totally different credit card account but same BoA/Vanguard account) in order to have multiple BoA Cash Rewards cards to raise the $2,500 quarterly cap on 5.25% CB. And even then it would be limited to two cards in two rewards categories. Each card would have a $2,500 quarterly cap allowing up to $5,000 per quarter in 5.25% CB spending. How does one have four similar cards?

You are assuming wrong. At https://www.bankofamerica.com/credit-ca ... dit-cards/ you will see that there are 5 different no-fee cards with the same exact benefits: Bank of America® Cash Rewards, Susan G. Komen® Cash Rewards, MLB®, World Wildlife Fund, U.S. Pride®. So, exactly like I have multiple Citi cards or multiple Chase cards, over the span of a couple years I opened 4 different BOA cards and I use each of them for a separate category, occasionally rotating them if I exceed the spending in a quarter.

Thank you for that information. I did not realize BoA offered different cards with nearly identical CB cards.

Currently I am using Alliant's 2.5% CB card with no limit but $99 AF. I spend roughly $70K annually on my card netting about $1,650 in CB after the AF (2.35% effective CB). I was aware of the 2.625% CB with the >$100K in BoA/Vanguard account but I am currently earning a little over 2% in an online savings account (FDIC insured) on my cash holdings. I am currently in a cash position and don't plan to change this in the near future.

If I moved $100K to BoA/Vanguard, is it possible to earn ~2% with almost no downside risk in this account? I am currently earning about $2,100 annually on every $100K chunk sitting in my risk-free savings account. Earning 5.25% on a couple categories would be nice but I don't want to give up current interest income to increase my cash back by what is likely to be about $500 in additional CB annually.

I'm not sure why you keep saying "BoA/Vanguard." Vanguard doesn't have a relationship with BoA. Merrill does. You may keep any assets with Merrill or Merrill Edge of $100k + to receive BoA Preferred Rewards Platinum Honors status. This can be cash, securities, etc. I assume you are holding VMMXX as you say, you are earning ~ 2% on 100K cash. Merrill Edge doesn't offer this option, but they have the Preferred Deposit and some other MMAs.

https://olui2.fs.ml.com/Publish/Content ... eSheet.pdf

You could also purchase something like SHV (iShares Short-Term Treasury Bond ETF), as Merrill provides free trades with BoA Preferred Rewards Gold or higher status.

[essbeer]

The Uber VISA email about the changes reads: "When you earn rewards with your Uber Credit Card, starting with your billing period in February 2020, they’ll come in the form of Uber Cash." My bill cycle runs the 6th of the month thru the 5th of the following month so I'm interpreting the February billing period as running from January 6 - February 5, and thus would need to redeem and stop using card before January 6. Do you interpret the email differently?

This is correct, I verified it.

I think the lesson here is SUBs > rewards.

[mws4ua]

This card was great while it lasted. Not just the dining rewards, but you also got a $50 credit for streaming services annually.

The insurance was one of the best aspects of this card. Bill your cell phone to the card and get $600 of phone insurance. When I saw the change to the dining rewards and cash back -> Uber cash I figured I would keep Netflix and ATT on the card and nothing else.

But alas, the insurance also going away effective 11/1. Per the benefits page on my account:

This benefit will no longer be provided as of 11/1/2019, however claims can be submitted for eligible purchases made prior to November 1, 2019.

I have a crack in my screen for which I submitted a claim yesterday. Once it's paid (assuming it is), I'm done with this card. I don't want Uber credits!

The Sam's Club MC gives 3% on dining and 5% on gas. It's not a bad card for those two things if you have a Sam's membership already.

[GoPackGo]

The Uber VISA email about the changes reads: "When you earn rewards with your Uber Credit Card, starting with your billing period in February 2020, they’ll come in the form of Uber Cash." My bill cycle runs the 6th of the month thru the 5th of the following month so I'm interpreting the February billing period as running from January 6 - February 5, and thus would need to redeem and stop using card before January 6. Do you interpret the email differently?

This is correct, I verified it.

I think the lesson here is SUBs > rewards.

I think I was told conflicting information on this. My bill cycle runs from January 18 - February 17 and I was told that I would be able to redeem rewards for a statement credit as long as it was before February 17. I wish they emailed me the chat transcript so I could quote it, but I don't have it.

[student]

Although I understand the change, I would cancel if I had it. I think Wells Fargo Propel card is a better deal.

[runswithscissors]

I apologize if this is a dumb question... but I'm assuming you would need a spouse as an additional card holder (under a totally different credit card account but same BoA/Vanguard account) in order to have multiple BoA Cash Rewards cards to raise the $2,500 quarterly cap on 5.25% CB. And even then it would be limited to two cards in two rewards categories. Each card would have a $2,500 quarterly cap allowing up to $5,000 per quarter in 5.25% CB spending. How does one have four similar cards?

You are assuming wrong. At https://www.bankofamerica.com/credit-ca ... dit-cards/ you will see that there are 5 different no-fee cards with the same exact benefits: Bank of America® Cash Rewards, Susan G. Komen® Cash Rewards, MLB®, World Wildlife Fund, U.S. Pride®. So, exactly like I have multiple Citi cards or multiple Chase cards, over the span of a couple years I opened 4 different BOA cards and I use each of them for a separate category, occasionally rotating them if I exceed the spending in a quarter.

Thank you for that information. I did not realize BoA offered different cards with nearly identical CB cards.

Currently I am using Alliant's 2.5% CB card with no limit but $99 AF. I spend roughly $70K annually on my card netting about $1,650 in CB after the AF (2.35% effective CB). I was aware of the 2.625% CB with the >$100K in BoA/Vanguard account but I am currently earning a little over 2% in an online savings account (FDIC insured) on my cash holdings. I am currently in a cash position and don't plan to change this in the near future.

If I moved $100K to BoA/Vanguard, is it possible to earn ~2% with almost no downside risk in this account? I am currently earning about $2,100 annually on every $100K chunk sitting in my risk-free savings account. Earning 5.25% on a couple categories would be nice but I don't want to give up current interest income to increase my cash back by what is likely to be about $500 in additional CB annually.

I'm not sure why you keep saying "BoA/Vanguard." Vanguard doesn't have a relationship with BoA. Merrill does. You may keep any assets with Merrill or Merrill Edge of $100k + to receive BoA Preferred Rewards Platinum Honors status. This can be cash, securities, etc. I assume you are holding VMMXX as you say, you are earning ~ 2% on 100K cash. Merrill Edge doesn't offer this option, but they have the Preferred Deposit and some other MMAs.

https://olui2.fs.ml.com/Publish/Content ... eSheet.pdf

You could also purchase something like SHV (iShares Short-Term Treasury Bond ETF), as Merrill provides free trades with BoA Preferred Rewards Gold or higher status.

Thank you for the feedback. My apologies, I meant Merrill not Vanguard. You are correct about the Vanguard account. I am earning 2.1% on that currently. It seems Merrill is not very competitive with money market accounts. I'll look into SHV. Thanks again.

[essbeer]

I think I was told conflicting information on this. My bill cycle runs from January 18 - February 17 and I was told that I would be able to redeem rewards for a statement credit as long as it was before February 17. I wish they emailed me the chat transcript so I could quote it, but I don't have it.

It's possible I'm misunderstanding the information they gave me, but here is the text:

"Upon review, we can confirm that the changes are coming to the rewards and benefits of your Uber Visa Card beginning in your February 2020 billing period.

Our records show that your statement cycle closes every 17th of the month. The starting date of your February bill cycle would on January 18, 2020 and ends on February 17, 2020.

In line with this, please know that your account will change from the Uber Visa Card to the Uber Credit Card after the next account cycle. The new reward structure and redemption options will take effect at that time."

There is a kind of conflict between saying "beginning in your February 2020 billing period" and "after the next account cycle" so I'm not sure.

[Eric]

Questions for Wells Fargo Propel Amex users:

1. Can the rebate be redeemed by applying it to the balance on the credit card itself? (I don’t want to have to open a WF bank account just to collect the rebate.)

2. Can redemptions be automated, or do you have to manually request redemption each time?

Thank you.

[kramer]

Is an Uber buck worth a whole dollar toward Uber rides? I assume there is no quick expiration on the Uber bucks?

I actually use Uber enough in various countries, including the USA, that I would definitely be able to use all the credits (although I will go months at a time without being able to use an Uber because it is only in certain countries). It looks like the Uber card still has no foreign transaction fee, also.

[SrGrumpy]

Is an Uber buck worth a whole dollar toward Uber rides? I assume there is no quick expiration on the Uber bucks?

I actually use Uber enough in various countries, including the USA, that I would definitely be able to use all the credits (although I will go months at a time without being able to use an Uber because it is only in certain countries). It looks like the Uber card still has no foreign transaction fee, also.

Good news and bad news. The Uber credits do not expire, and there is no FTF. But the Uber Credits cannot be used overseas:

Uber credits redeemed with Uber Visa Card points can only be used in the U.S.

The card might be OK for you, though, as an expat. The major grumble is that we would rather have cash back since we can buy Uber gift cards quite easily for upwards of 10-15% off (see Doctor of Credit). But you probably have better things to do with your time.

[kramer]

Is an Uber buck worth a whole dollar toward Uber rides? I assume there is no quick expiration on the Uber bucks?

I actually use Uber enough in various countries, including the USA, that I would definitely be able to use all the credits (although I will go months at a time without being able to use an Uber because it is only in certain countries). It looks like the Uber card still has no foreign transaction fee, also.

Good news and bad news. The Uber credits do not expire, and there is no FTF. But the Uber Credits cannot be used overseas:

Uber credits redeemed with Uber Visa Card points can only be used in the U.S.

The card might be OK for you, though, as an expat. The major grumble is that we would rather have cash back since we can buy Uber gift cards quite easily for upwards of 10-15% off (see Doctor of Credit). But you probably have better things to do with your time.

Thanks Yes, that is an important detail, only redeemable for US Uber. Actually, I think even that is OK for me ... as I would easily use them. But it's still not as convenient. I will have to compare this to other cash back cards. Thanks again.

[jumbopapa]

Went ahead and cancelled mine. I redeemed cash back recently and needed to spend >$500 before it changed in February to claim rewards again. I didn't want to take that gamble on a card I use exclusively for dining out. I will be using the Costco Visa primarily now.

[H-Town]

Went ahead and cancelled mine. I redeemed cash back recently and needed to spend >$500 before it changed in February to claim rewards again. I didn't want to take that gamble on a card I use exclusively for dining out. I will be using the Costco Visa primarily now.

I still use Uber credit card for dining out as usual. It's still the same amazing card. No other card has zero annual fee and give me 4% cashback on dining and 2% for online purchase. I'll take all the cashback out and put the card in the drawer in next Feburary. No need to cancel it.

Costco Visa is not a great card for non-Costco members. I would prefer SavorOne over Costco citi card.

[28fe6]

I have another thread about replacing the Uber, but I decided not to cancel it. It will still come in handy because it's a Chip+Pin card, has no foreign transaction fees, so I can use it as an option for overseas trips. I do occasionally use Uber, so I may as well get 5% off Uber rides and UberEats when I do. For me it's now more like a store card like my Amazon card. My normal spend will go to other cards though.

[justthink]

so i have $40 in rewards on my uber visa. how do i transfer that to my uber account?

[cakes12]

I would look at your account info. Mine specifies it will automatically be transferred to my uber account (as ride credits) once it reaches $50.

[justthink]

The Barclays website says...

Once earned in your card account, there are two ways to transfer Uber Cash to your Uber account for Uber services.

At any time, you may choose to transfer Uber Cash from your card account to your Uber account by selecting the option to manage your Uber Credit Card rewards when you access the Uber app.
Once you have accumulated at least $50 Uber Cash on your card account, Uber will automatically transfer the entire balance of Uber Cash in your card account to your Uber Cash balance on your Uber account. Once your Uber Cash is transferred to your Uber account, you may redeem for Uber services, including Uber rides, Uber Eats orders, and JUMP rides.

My Uber account on my phone does not have an option to "manage your Uber Credit Card rewards". Wonder if somehow my card is not linked to my uber account. It is my primary payment option though. Guess I might just have to wait until I hit $50.