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*Disclaimer: This article is accurate as of the publish date June 15, 2016
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Capital One and Uber have had a friendly corporate relationship for well over a year now. The partnership between the two companies has helped thousands of Capital One cardholders save money on trips with the popular rideshare service.
To the dismay of many riders, the two companies recently ended a year-long promotion that offered an unlimited 20% discount on all Uber rides paid for with the Capital One® Quicksilver® Cash Rewards Credit Card or the Capital One® QuicksilverOne® Cash Rewards Credit Card . Needless to say, this was an amazing deal. But all good things come to an end.
The New Capital One/Uber Promotion
If you carry one of these two credit cards and love riding with Uber, you’re in luck. The Capital One Uber partnership is back! But things are pretty different compared to last year's promotion, and unfortunately, it won’t be quite as rewarding. But hey, there’s still potential to save some money if you’re a frequent Uber rider. Here are the details of the new Uber and Capital One promotional offer:
- The new Uber promotion begins June 14th, 2016 and lasts through March 31, 2017
- For every 9 Uber rides paid for with the Capital One® Quicksilver® Cash Rewards Credit Card or Capital One® QuicksilverOne® Cash Rewards Credit Card the 10th ride is free up to $15
- The promo is automatic, so cardholders don't need to enter a promo code or take any action to participate
- Consumers can use the free ride on a trip of their choosing
- “Free rides” expire on April 30, 2017
Pros and Cons of the Capital One/Uber Offer
Well, there’s not really any cons to earning free Uber rides! For frequent Uber riders that carry the Capital One® Quicksilver® Cash Rewards Credit Card or Capital One® QuicksilverOne® Cash Rewards Credit Card, this is a super easy way to save a few bucks and it requires nothing on your end.
But when you compare this promotion to last year’s 20% discount, it’s definitely not as rewarding. The free rides you earn are only good for $15. So if your average Uber fare is more than $15 per trip, this promotion will bring you less than 10% savings.
Nonetheless, it's always nice to have the chance to earn extra rewards or discounts for the spending we're already doing. Whether it's an upfront discount or an occasional free ride, it's better than paying full price for every trip. Plus, if you frequently use Uber for very short and cheap trips, then the new Capital One Uber deal may actually be better for you that last year's promo.
Best Credit Cards for Free Uber Rides
Capital One® Quicksilver® Cash Rewards Credit Card: If you want to take advantage of this limited-time Uber Capital One deal, then this is the best card for you. In addition to the Uber discounts mentioned above, the Capital One® Quicksilver® Cash Rewards Credit Card earns unlimited 1.5% Cash Back on every purchase, every day. There is a $0 annual fee, no foreign transaction fees, and you can get a one-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. The ongoing APR is 13.99% - 23.99% (Variable) based on your creditworthiness, but there's a 0% intro on purchases for 9 months and 0% intro on balance transfers for 9 months.
Capital One® QuicksilverOne® Cash Rewards Credit Card: As the other option for the Uber Capital One promotion, the Capital One® QuicksilverOne® Cash Rewards Credit Card also earns an unlimited 1.5% Cash Back on every purchase, every day. The nice thing about this card is that you can get approved even if you only have Average/Fair credit. There is no balance transfer fee with this credit card and no foreign transaction fees as well. The ongoing APR is 24.99% (Variable) and there is a $39 annual fee, but that’s pretty low when you consider all the perks!
Capital One® Venture® Rewards Credit Card: While this card doesn’t fall under the new Capital One Uber promotion, it still offers great rewards that can get you free Uber rides. This travel rewards credit card earns 2 miles per dollar on every purchase, every day and you can redeem miles for any travel expense, including Uber! There’s a one-time bonus of 40,000 miles once you spend $3,000 on purchases within 3 months of account opening, equal to $400 in travel. By redeeming miles for Uber charges, that’s $400 worth of free Uber rides!
The Bottom Line
While this new Capital One Uber promotion certainly isn't as rewarding as the offer they had last year, it's still nice to earn some extra perks with these credit cards that are already very rewarding. For folks that already have the Capital One® Quicksilver® Cash Rewards Credit Card or Capital One® QuicksilverOne® Cash Rewards Credit Card, you'll automatically get a free $15 Uber ride after taking 9 trips! If you're a frequent rider with Uber, apply for one of the credit cards above and start saving money!
*Editorial Note: This content is not provided by Capital One. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by Capital One.
*The content in this article is accurate at the publishing date, and may be subject to changes per the card issuer.