The move is aimed at attracting business customers, a market that Uber has been courting with great success. The ride-hailing service struck a deal with American Express last year to let some of its cardholders earn and spend card points through Uber. The company has also set up an "Uber for Business" program, which lets businesses set up their Uber accounts for multiple employees.
Capital One seemed like a logical next partner, said David Richter, vice president of strategic initiatives at Uber. "We found CapitalOne to be a classic partner for us: a proven innovator in its field that relied upon technology to democratize the credit card industry," he said. "We felt a very immediate kinship."
There's no Web site or registration to enroll in the program. If you already have a qualifying card and use Uber, you only have to add that card to your Uber app to qualify for the promotion. If you're new to Uber, you can also get your first two rides for free -- up to $30, at least -- with the promo code "CAPITALONE."
Both firms declined to say how they're financing the deal. But Richter emphasized that Uber drivers are still being paid their full fees, even when they pick up customers who qualify for the deal.
And is there any chance that they'll extend the program beyond a year? "We will continue to evaluate the program over the course of the next year," said Todd Kennedy, a senior vice president of U.S. Card at Capital One.