Uber Introduces a Credit Card

[Megalith]

Uber has partnered with Barclays and Visa to get into the credit card business. It’ll be a new point of access for incredibly valuable customer information, allowing the company to get the spending habits of the millions of people that use their ride-hailing service every day.

The no-fee card offers a bonus of $100 after spending $500 on purchases within the first 90 days, and has other perks, like 4 percent back on restaurants, take-out and bar purchases; 3 percent back on airfare, hotels and Airbnb or other short-stay rentals; 2 percent back on online purchases; and 1 percent back on everything else.

 

[FrgMstr]

Amex Platinum card.....$25 in free Uber rides every month. Of course, just make sure your Uber does not get rammed into on the way home from dinner.

 

[Patton187]

28.88 % a.p.y, will repo balls for nonpayment.

 

[Rahh]

Not even sure how Uber is still in business but they must be doing something right.

 

[RayderR6]

Really high cash back offers, I think this card officially takes the skim kickback to the next level and includes a bump for more "information" to a specific company.

First was the CC, CC company skimming from the merchant on every purchase plus the merchant had to pay a fee to have the service for their customers.

Then CC competition started and the banksters had to share the skim with the customer (i.e. cash back) to get them. Merchants still pay.

Then the cash back competition heated up and the kickback had to get better, but the banksters started losing too much of the skim.

Now the banksters (or whomever) is going to add information to their skim collection and sell that to retrieve their skim, no doubt this already has been going on, you see it all the time in CC privacy policies that you may or may not be able to opt out of; so at least they are sharing a larger part of the original skim kickback to be able to collect the information for Uber. Oh ya, merchants still pay, which ultimately means, we all still pay the original skim.

All this while they still get to rake it in on the ones who pay interest on these cards, granted they also have to take the loss when there are defaults, but good ole' George W helped them out with that little issue.

/ tin foil hat off

Not even sure how Uber is still in business but they must be doing something right.

People said the same thing about Bernie Madoff for decades.

 

[Deleted whining member 223597]

28.88 % a.p.y, will repo balls for nonpayment.

You shouldn’t be making late payments anyways. Just pay on time and you’ll never worry about APR ever again.