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Several Chase Cards Will Earn More Rewards on Lyft Rides

Jan. 9, 2020
Credit Cards, Promos, Rewards Credit Cards
Several Chase Cards Will Earn More Rewards on Lyft Rides
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It’s been a busy week for Chase partnerships.

The issuer has announced a slew of new benefits for several eligible cards, including discounts on DoorDash delivery services (available as of Jan. 7, 2020) and incentives for purchasing Lyft rides (as of Jan. 12).

That latter benefit, in particular, extends to a wide array of Chase products. Here’s what you need to know before hitching your next Lyft ride.

How it works

To earn points on rides, you’ll have to open the latest version of the Lyft app and add an eligible Chase credit card as your default payment method.

Here’s a list of Chase credit cards that will qualify for this promotion:

ELIGIBLE CHASE CREDIT CARDSREWARDS EARNED ON LYFT PURCHASES
Chase Sapphire Reserve®
• J.P. Morgan Reserve
10 points per $1 spent on Lyft rides through March 2022. You can also qualify for a free one-year Lyft Pink membership (a $239 value) when you activate.
Ink Business Unlimited℠ Credit Card
Ink Business Cash℠ Credit Card
5% cash back on Lyft rides through March 2022.
• Ink Plus® Business Credit Card
Ink Business Preferred℠ Credit Card
5 points per $1 spent on Lyft rides through March 2022.
• Chase Sapphire® Card
Chase Sapphire Preferred® Card
5 points per $1 spent on Lyft rides through March 2022.
Chase Freedom®
Chase Freedom Unlimited®
• Chase Freedom Student
5% cash back on Lyft rides through March 2022.

» MORE: NerdWallet’s best credit cards for transit spending

Is this a good deal?

Earning 5X back on rideshares is among the highest rates you can find, and if you frequently use Lyft, the rewards can definitely add up in value.

But there may be other factors to consider, depending on which Chase card you have. With the Chase Sapphire Reserve®, for example, you’ll have to weigh the impending $100 increase in the card’s annual fee, also taking effect Jan. 12.

With that card, if you spend at least $667 in the year you activate Lyft Pink, you can potentially defray the added cost. But it’s not worth spending outside of your budget to do so.

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