Ride-sharing service Uber has announced a new credit card with rewards for frequent Uber app users.
Starting November 2nd, consumers will have the ability to apply for the credit card right within the app. They will also be able to apply online.
After a few minutes, applicants will receive a verdict on their creditworthiness and then… Presto! The card will be automatically available for use for Uber rides and UberEats purchases. A physical card will show up in the mail within a week or so.
The card gives members the ability to earn rewards for dining out, booking travel, shopping online or riding in an Uber.
The new card will powered by Barclays and Visa and comes with no annual fee plus a bonus of $100 after spending $500 on purchases in the first 90 days.
The new card also gives users a $50 credit for online subscriptions (after spending $5,000 on the card per-year), phone insurance of up to $600 if someone uses the card to pay their monthly phone bill; and exclusive invites to events for card members.
Uber is the first ride-hailing service to offer its own branded credit card.
Lyft has a deal with Delta to earn miles while ride-hailing, but it’s not via a card.
American Express also offers some users free Uber rides as part of its reward system.