Uber (UBER) Stock Increased 8.6%: Details

By Amit Chowdhry ● Nov 15, 2022
  • The stock price of Uber (UBER) increased by 8.6% today. This is why.

The stock price of Uber (UBER) increased by 8.6% today.

Why: Uber (UBER) and Capital One (COF) announced a new partnership to bring savings and benefits to select cardholders across the United States.

Details: Starting today, Savor, SavorOne, SavorOne Student, and Quicksilver Student cardholders automatically earn 10% cash back on purchases with Uber when they use their card, and they get up to 24 months of complimentary Uber One membership, valued at $9.99/month. Quicksilver, QuicksilverOne, and Quicksilver Secured cardholders get up to 6 months of complimentary Uber One membership, valued at $9.99/month.

Uber One membership unlocks $0 Delivery Fee on eligible food, groceries, and other Uber Eats orders. And Uber One members can also save up to 10% on eligible Uber Eats orders, 5% on eligible rides with Uber, and access member-only perks and promotions. Cardholders are able to enroll in these benefits all from the Uber or Uber Eats app, or on the Uber One website. They must select their eligible Capital One card as the form of payment to receive a monthly statement credit for their Uber One membership. These benefits will be available through November 14, 2024.

Since launching its first membership program in 2019, Uber members grew to over 10 million. And beyond savings, Uber One brings members-only upgrades including top-rated drivers on rides, premium support, and $5 credit if the Latest Arrival estimate (shown after the order is placed) on an order is off. On average, Uber One members have saved $25/month across Uber’s mobility and delivery services. And Capital One cardmembers that activate their membership will have access to hundreds of thousands of participating merchants and restaurants including Chili’s, Wingstop, Walgreens, and Starbucks and regional student favorites like Whataburger, Portillo’s, etc.

KEY QUOTES:

“Across Savor and Quicksilver cards, our new Uber partnership stands out by making it easy to earn unlimited, meaningful rewards, without confusing caps or restrictions. Our cards keep getting better, including our no-fee cards. Whether folks plan to go out or dine in, we’re working with Uber to make the decision easier and more rewarding. “

— Monica Weaver, Head of Branded Card Partnerships & Experiences at Capital One

“We’re proud to be working with Capital One to provide new, more valuable ways for cardmembers to go anywhere and get anything. Uber One membership brings the best of Uber and Uber Eats to consumers across the U.S., whether that means saving on deliveries from hundreds of thousands of merchants across the country or booking a ride.”

— Coley Czarnecki, Director of Global Membership Marketing at Uber