Uber joins growing list of credit cards you can’t apply for right now; here’s why

Jun 15, 2020

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If you’re looking to apply for a specific card right now, don’t be completely blindsided if it’s temporarily unavailable. That’s because credit card companies are trying to mitigate risk in the current economic environment. We are, after all, officially in a recession.

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(Photo by John Gribben for The Points Guy)
(Photo by John Gribben for The Points Guy)

You can now add the Uber Visa credit card onto the list of (temporary) card casualties. Over the weekend, a View From The Wing reported that the card disappeared from both the Barclays website, as well as the Uber app. 

A Barclays spokesperson confirmed this, saying that the card was temporarily removed “in light of current market conditions.” However, there is no timeframe for when the card will be open again for new applicants.

The spokesperson also noted that “existing cardmembers can continue to use their cards with confidence.”

Beyond the Uber credit card, Chase has most notably removed card products from its website and changed approval procedures for small business card applications. TPG Senior Contributor Ethan Steinberg recently experienced these recent developments when he was rejected for a Chase Ink Business Preferred Credit Card.

Related reading: Here’s what credit card rewards programs might look like after coronavirus

Alternative to the Uber credit card

The Uber Visa card was revamped in late 2019 to earn 5% Uber Cash on all Uber purchases and 3% Uber Cash on restaurants, bars, hotels and airfare. While these are decent category bonuses, redemption can only be in the form of Uber-related purchases.

If you’re looking for a card that earns a bonus for rideshares and restaurants, the American Express® Green Card is a potential alternative. While it does charge a $150 annual fee (see rates and fees), you’ll earn 3x Membership Rewards (which are more flexible and more valuable than Uber Cash) on travel and restaurants — and the travel category includes rideshare apps like Uber.

Even though you’re only earning 3x Membership Rewards rather than 5% Uber Cash, TPG values Amex points at 2 cents each, meaning you’re actually getting a 6% return with the Amex Green.

The information for the Amex Green Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Related reading: Best credit cards for dining and best credit cards for rideshares 

Bottom line

With the higher potential for credit card delinquency from new customers, card issuers may continue to pull cards from their lineup as a temporary measure to mitigate risk. For now, the Uber Visa credit card is shelved and we won’t know when it’ll return.

For rates and fees of the Amex Green, please click here.

Featured photo by Olly Curtis/Future Publishing via Getty Images.

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