Given how much consumer behavior has changed in the past few months, many of the credit card benefits that members used to appreciate most aren’t as valuable anymore. We’ve seen card issuers get creative with perks, to give members an incentive to keep their cards.
Capital One has just rolled out a great new perk across some cards, which will be valid until early 2021.
Capital One & Uber Eats partner up
Capital One is partnering with Uber Eats to make dining more rewarding for Savor and Venture cardholders. Starting July 14, 2020:
- Capital One Venture and VentureOne cardholders will earn unlimited 5x miles with Uber Eats
- Capital One Savor and SavorOne cardholders will earn unlimited 5% cash back with Uber Eats
This partnership is valid through January 31, 2021, so you have about six months to take advantage of it. I would imagine the partnership has the potential to be expanded, though that’s also not a sure bet.
In order to earn extra rewards with Uber Eats, just pay with your eligible Capital One card, and your rewards will be credited to your account within one to two billing cycles. Payments made with third party payment accounts, like PayPal, digital wallets, etc., wouldn’t qualify.
For those of you not familiar, Uber Eats is an on-demand delivery app that partners with over 400,000 restaurants and merchants in more than 6,000 cities across six continents.
Is this a good promotion for Uber Eats?
Generally speaking, purchases with Uber Eats are supposed to code as dining for the purposes of credit card rewards (see here for the best credit cards for restaurants and dining).
Earning up to 5x Venture miles or up to 5% cash back is solid for Uber Eats, though it’s not the only good option:
- The Citi Prestige offers 5x ThankYou points, which I value at an ~8.5% return
- The Amex Gold offers 4x Membership Rewards points, which I value at 6.8%
- The Amex Green offers 3x Membership Rewards points, which I value at 5.1%
- The Chase Sapphire Reserve offers 3x Ultimate Rewards points, which I value at a ~5.1% return
- Citi Premier® Card (review) offers 3x ThankYou points, which I value at ~5.1% return
Since we all have different credit card portfolios, just match the above to your particular situation.
Capital One Venture and Savor cardholders can now earn 5x miles or 5% cash back with Uber Eats. This is a nice new benefit for these cards. Capital One has long done a great job with partnerships, even before the pandemic, so it’s nice to see this continue.
Will you take advantage of this new Capital One & Uber Eats partnership?