Uber has transformed the way you get around. Now it is setting its sights on the way you spend.
Riders can apply using the Uber app starting Nov. 2, get approved within minutes and then immediately add the card to their Uber wallets, according to the company. A physical card will arrive in the mail about a week later.
Denny Nealon, head of U.S. partnerships at Barclays, said their plan is to eschew direct mailings in favor of courting Uber's 65 million monthly active riders.
"The beauty is trying to enhance Uber loyalists' experience," he said.
Since its founding in 2010, and despite controversy, Uber has continued to expand. It's hardly surprising that it has joined the battle for millennial credit-card holders.
Young people are spending more than other generations on everyday purchases such as groceries and gas, as well as on experiences such as dining out, according to a report by Bankrate.com.
To lure those spenders, card issuers have upped the ante with better rewards and sign-up bonuses.
The Chase Sapphire Reserve card, which initially offered a $1,500 sign-up bonus to people who spent $4,000 in the first three months, proved so popular, particularly among millennials, that the bank said it cost it some $200 million in profits last year (even with a $450 annual fee).
American Express has since added a $200-a-year credit for Uber to attract more sign-ups to its rival Platinum card, which has a $550 annual fee.
The new Uber Visa has no annual fee and offers a $100 bonus after spending $500 in the first 90 days.
Other perks include 4 percent back on restaurants, takeout and bars, including UberEATS; 3 percent back on airfare and hotels, including Airbnb; 2 percent back on all online purchases, including video and music streaming services like Spotify, and 1 percent back on all other purchases.
In addition, there are no foreign transaction fees. The annual interest rate ranges from about 16 percent to 25 percent, according to the company.
More from Your Money Your Future:
These cash-flush millennials are spending wisely investing in houses, condos and stocks
Under-35 Americans share two stressful views on what money means to them
The latest mortgage perk for millennials: Reward points