Uber Rewards is eliminating a key redemption option
This post contains references to products from one or more of our advertisers. We may receive compensation when you click on links to those products. Terms apply to the offers listed on this page. For an explanation of our Advertising Policy, visit this page.
Editor’s note: This story was updated to include a statement from Uber.
Back in 2018, Uber began rolling out it its loyalty program Uber Rewards. It was initially only available to select people in certain cities but has since expanded nationwide. Soon, it will see its first major devaluation.
For more TPG news delivered each morning to your inbox, sign up for our daily newsletter.
- 1 point per eligible dollar spent on UberPool and UberEats
- 2 points per eligible dollar spent on UberX, Uber XL, Select and WAV
- 3 points per eligible dollar spent on UberBlack, Black SUV and Lux
Initially, points were worth a flat 1 cent apiece toward Uber Cash credit — for every 500 points earned, you’d get a $5 Uber Cash credit. This credit could be redeemed toward future Uber rides and UberEats orders. Then in December, Uber began introducing new reward options, like discounts on rides, access to highly rated drivers, and meal donations through Feeding America, slightly adjusting the value you could get.
Unfortunately, the $5 Uber Cash reward option will be going away soon. In an email to members, Uber shared that they will no longer see the option after this current rewards cycle. Some of the discounts are capped at $7, making them arguably more valuable than the credit option. But they require you to spend more in the first place to maximize them so the credit option still often made more sense.
Related: New Uber Rewards options
Losing the Uber Cash option is disappointing, but it makes sense given the company’s struggling financial position due to the significant drop in demand for rides caused by the coronavirus pandemic. Uber will continue to add new reward options like promotions on rides and eats, unique experiences and exclusive partner offers to keep the program experience exciting. The program has previously partnered with P.F. Chang’s to offer free dumplings as a reward option, so it’s likely we’ll see more partnerships like that in the future.
While the Uber Rewards program might be getting a bit less valuable for some members, there are still ways to save on your rides and eats orders. Check out our guide to the best cards for Uber and Lyft before booking your next ride-share trip to learn how you can maximize your return.
Note: After this article was originally published, an Uber spokesperson reached out to TPG to clarify that this decision was not tied to the company’s financial position and provided the following statement: “After thoughtful consideration, we made the decision to sunset the $5 Uber Cash benefit in the U.S. starting in late 2019. Users told us that Uber Cash was a less popular option for every 500 points earned and that they wanted more choice, which is why we expanded to include ride and Eats discounts, partner benefits like access to Apple News, free food items, and a large focus on donations per these challenging times. We remain committed to Uber Rewards and recognizing riders for choosing our service.”
Featured image by Brendan Dorsey/The Points Guy.
Welcome to The Points Guy!
WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,600
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.