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Uber is expanding in so many new, unique directions these days to better serve their customers.

At a conference in Portugal, the ride-sharing company recently unveiled bold plans for a futuristic air taxi to fly its customers to their destinations. And just before that, it announced a much-buzzed-about Uber credit card.

The new credit card has a variety of perks that financial industry experts say are worth taking note of, particularly if you’re an urban dweller or a globetrotting voyager.

“What’s interesting to me is that you don’t need to be a big time Uber user to benefit from the card,” says personal finance blogger Kyle Burbank, creator of the site Moneyat30. “You can redeem points for cash back or gift cards, in addition to Uber rides.”

Here are the six top details you need to know about the new Uber credit card.

1. No Annual Fee

Rewards cards, particularly the elite ones, often come with a hefty annual membership fees in exchange for access to all of the perks they offer. (Think Chase Sapphire Reserve with its hefty $450 annual fee—or the Citi Prestige Card, which has a similar fee.)

The Uber Card, however, joins a group of rewards cards that help you enjoy a variety of benefits without paying a hefty price each year.

“With no annual fee, it’s a nice little entry into the world of credit cards for folks who are scared about going for more premium cards,” said Kevin Han, founder of personal finance site Financial Panther.

2. 4% Cash Back on Dining

Urban dwellers eat out a lot. That’s no secret. The Uber card is aimed right at this market, offering a generous 4% cash back for dining purchases.

This cash back reward applies to restaurants, bars, takeout, and UberEats.

Because of that higher dining reward, Mark Ranta, head of digital banking solutions for ACI Worldwide, said it’s a card worth keeping at the top of your wallet when you eat out.

“The dining rewards are pretty high. I haven’t seen 4%. You usually see 3% or 2%,” says Ranta, which makes the Uber Card a great source of cash back rewards. 

3. No Foreign Transaction Fees

The lack of a foreign transaction fee is a perk travel-happy millennials have definitely taken notice of. 

“I was not considering another credit card. I would get offers and reject them. But when I saw this card, I started thinking about how I would integrate it with my current credit cards,” says 31-year-old Burbank. “It’s exciting to have a visa that doesn’t have foreign transaction fees.”

And speaking of travel perks, the Uber card also offers 3% cash back on hotels (including vacation rentals such as Airbnb) and airfare. Again, millennials, Uber is looking at you. 

4. Online Shopping Rewards

The card offers 2% back, or two points for every $1 spent online, covering purchases at retailers such as Amazon, Walmart, Best Buy, Macy’s and more—far more.

Of course, this category includes rewards for booking Uber rides. But this nice little perk also includes other online shopping, as well as video and music streaming services.

Among the streaming services covered in this category are those offered by Netflix, Pandora, HBO Now, and Apple Music. Even purchases made at online service sites like TaskRabbit and Angie’s List are covered.

5. Phone Protection Plan

Break your phone much?

The Uber card has you covered with a mobile phone protection plan that offers up to $600 for damage, another perk that Kyle Han says he was pleasantly surprised by.

“It’s a big benefit that you don’t often see on no-annual-fee cards like this one,” says Han. “Definitely useful for folks who are worried about breaking their phones.” And let’s be honest, who isn’t?

6. Points Program with Great Deals

Uber’s credit card allows you to accumulate points and then redeem those points for discounts on ridesharing. Most other cards have a $25 minimum for any sort of redemption, but Burbank notes the Uber Card lets customers redeem amounts as low as $5 for Uber ride credits. (All other redemptions on the Uber card start at $25).

So Why Try the Uber Credit Card?

Between the credit for streaming services, the travel rewards that include Airbnb, and the big bonuses for eating out, it’s not hard to see who this card is designed for.

“To me, it seems like the ultimate card for Millennials,” says Burbank. “There’s no annual fee, no foreign transaction fees, and there’s an impressive 4% cash back on dining and 3% on travel, plus a $50 streaming credit and cell phone insurance, all of which speaks to that demographic.”

Credit cards with great rewards programs, like the Uber Card, usually require good to excellent credit. Before you apply, check your credit to make sure you have the best chance of being accepted. You can see your credit score for free at Credit.com.

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