Barclays only relaunched the Uber Credit Card in late October of last year, but it appears it may already be gone. While the card offers impressive rewards and is excellent for navigating a COVID-19 landscape, it seems Barclays is no longer accepting new applications for the card. Here’s what you need to know about Barclays removing the Uber Credit Card – and whether it’s gone for good.
According to Barclays, the card’s issuer, the removal is only temporary. The bank claims the card’s withdrawal is due to “market conditions”. However, it is providing no time-frame for reintroduction. Due to the effects of COVID-19, rideshare companies like Uber are struggling to contend with travel restrictions and stay-at-home orders. While food deliveries are thriving, the Uber Card’s redemption options offer less value than other competitors.
Uber Card Struggling Against New Competition
The relaunch of the Uber Card in late 2019 attracted a fair amount of interest. The card earns 5% cash back on Uber rides, Uber Eats orders, and JUMP. The card also features 3% cash back on travel and dining purchases. The major letdown, however, is that cash rewards apply only as Uber Cash – and not statement credits.
While the value of a credit card that offers rewards on food delivery delivers exceptional potential during the coronavirus lockdown, the mandatory Uber Cash redemption limits the card’s appeal. The new U.S. Bank Altitude Go Visa Signature provides much more versatility – also for no annual fee.
Is the U.S. Bank Altitude Go a Better Choice?
The Altitude Go Visa Signature is a new credit card from U.S. Bank. The card earns 4X points per $1 on takeout, dining, and food delivery services, plus 2X on groceries, gas, and streaming services purchases. The real value with the Altitude Go, however, is the broader amount of rewards redemption options. Given that the card earns 4X points on not just Uber Eats, but also Grubhub, and other services, it offers real competition to the Uber Visa.
Related Article: New U.S. Bank Altitude Go Card Now Available