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Best Credit Cards for Lyft Riders: Maximize Your Rideshare Rewards
July 1, 2025
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If you're spending $50-100 monthly on Lyft rides, you're potentially missing out on hundreds in rewards. The right credit card can earn you statement credits, bonus points, and premium benefits—but choosing the wrong one means leaving money on the table.
In this guide, we'll analyze the top credit cards for Lyft riders, calculate real break-even points, and help you determine which card maximizes value based on your actual spending patterns.
Why You Can Trust This Analysis
Credit card benefits change frequently, and understanding which perks truly deliver value requires careful analysis. This guide focuses on cards with proven Lyft benefits, backed by transparent math showing exactly when each card pays for itself based on your rideshare spending.
The Chase-Lyft Partnership: What You Need to Know (2025-2027)
Starting April 1, 2025, Chase extended its Lyft partnership through September 30, 2027 with updated benefits:
Key Changes:
- Chase Sapphire Reserve now offers $10 monthly Lyft credits ($120 annually)
- Points earning on Lyft decreased from 10x to 5x per dollar
- Lyft Pink All Access membership benefit ended (enrollment closed December 31, 2024)
Who Benefits Most: Consistent monthly riders who can use the full $10 credit each month, as credits don't roll over.
Chase Sapphire Reserve®: Premium Pick for Frequent Riders
The Numbers
Annual Fee: $795
Lyft Benefits:
- $10 monthly in-app credit ($120 annual value)
- 5x total points on Lyft rides
- Credit applies automatically at checkout
Welcome Bonus: Earn 125,000 bonus points after spending $6,000 in first 3 months
Other Key Benefits:
- $300 annual travel credit (covers most travel purchases)
- 8x points on Chase Travel℠ purchases
- 4x points on flights and hotels booked directly
- 3x points on dining worldwide
- Priority Pass™ lounge access plus Chase Sapphire Lounges
- No foreign transaction fees
- Premium travel protections
Break-Even Analysis
Annual benefits breakdown:
- Lyft credits: $120 (if used monthly)
- Travel credit: $300
- Total statement credits: $420
Net annual fee after credits: $795 - $420 = $375
Additional value from Lyft spending:
If you spend $100/month on Lyft ($1,200 annually):
- Earn 6,000 Chase Ultimate Rewards points
- Conservative value at 2 cents per point: $120
- Effective net fee: $255
First-year total value:
- $420 in statement credits
- $120 in Lyft points (conservative estimate)
- 125,000 welcome bonus points (~$2,500 when transferred to partners)
- First-year net value after $795 fee: ~$2,245
Important Note: Points are not earned on the first $300 in travel purchases annually (after travel credit is applied).
Should You Apply?
Yes if:
✅ You spend $100+ monthly on Lyft (ensures full $120 credit usage)
✅ You travel 3+ times yearly (maximizes lounge access and travel credit)
✅ You dine out regularly (3x dining points add significant value)
✅ You value premium travel protections
✅ You can meet the $6,000 minimum spend in 3 months
Avoid if:
❌ You ride Lyft 1-2 times monthly (you'll miss credits)
❌ You won't use the $300 travel credit or lounge access
❌ You're uncomfortable with high annual fees
❌ You prefer simple cash back over points optimization
[[ SINGLE_CARD * {"id": "510", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "$300 Annual Travel Credit"} ]]
Chase Sapphire Preferred® Card: The Balanced Alternative
The Numbers
Annual Fee: $95
Lyft Benefits:
- No monthly credits
- 5x total points on Lyft rides (through September 30, 2027)
- Same earning rate as Reserve, lower annual fee
Welcome Bonus: Earn 75,000 bonus points after spending $5,000 in first 3 months
Other Key Benefits:
- 5x points on Chase Travel purchases
- 3x points on dining, select streaming, and online grocery
- 2x points on other travel
- 1x points on all other purchases
- Primary auto rental collision coverage
- No foreign transaction fees
Break-Even Analysis
With $100/month Lyft spending ($1,200 annually):
- Earn 6,000 Chase Ultimate Rewards points
- Value at 1.25 cents per point through Chase portal: $75
- Net annual fee: $95 - $75 = $20
First-year value:
- 75,000 welcome bonus points (~$1,500 when transferred)
- 6,000 Lyft points annually (~$75)
- Total value: $1,575 - $95 fee = $1,480 net first-year
Should You Apply?
Yes if:
✅ You want Lyft bonus points without justifying a $795 fee
✅ You're new to travel rewards and want a manageable entry point
✅ You spend heavily on dining and travel
✅ You prefer flexibility without pressure to use monthly credits
Avoid if:
❌ You're a heavy Lyft spender ($200+/month) who'd benefit more from Reserve's credits
❌ You need premium lounge access and higher travel protections
❌ You want maximum point earning rates across all categories
[[ SINGLE_CARD * {"id": "509", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Exceptional Travel Value"} ]]
Comparing Cards by Spending Level
Light Rider: $50/month ($600/year on Lyft)
Chase Sapphire Reserve:
- Credits used: ~$60 (won't use full $120)
- Points earned: 3,000 (worth ~$60)
- Net cost after $300 travel credit: $735
- Verdict: ❌ Not worth it
Chase Sapphire Preferred:
- Points earned: 3,000 (worth ~$37.50)
- Net cost: $95
- Verdict: ✅ Better choice
Medium Rider: $100/month ($1,200/year on Lyft)
Chase Sapphire Reserve:
- Credits used: $120 (full value)
- Points earned: 6,000 (worth ~$120)
- Net cost after all credits: $555
- Verdict: ✅ Good value if you travel
Chase Sapphire Preferred:
- Points earned: 6,000 (worth ~$75)
- Net cost: $95
- Verdict: ✅ Better for non-travelers
Heavy Rider: $200/month ($2,400/year on Lyft)
Chase Sapphire Reserve:
- Credits used: $120 (full value)
- Points earned: 12,000 (worth ~$240)
- Net cost after all credits: $135
- Verdict: ✅✅ Excellent value
Chase Sapphire Preferred:
- Points earned: 12,000 (worth ~$150)
- Net cost: $95
- Verdict: ✅ Still great, but Reserve wins
Alternative Cards Worth Considering
Capital One Venture X Rewards Credit Card
Annual Fee: $395 (much lower than Reserve's $795)
Key Benefits:
- $300 annual travel credit
- 10x points on hotels and rental cars through Capital One Travel
- No Lyft-specific benefits, but lower barrier to entry
Best for: Travelers who want premium perks without the Reserve's high fee but don't need Lyft-specific benefits.
[[ SINGLE_CARD * {"id": "2888", "isExpanded": "true", "bestForCategoryId": "52", "bestForText": "Frequent Travelers", "headerHint" : "Luxurious Travel Benefits" } ]]
American Express® Gold Card (See Rates & Fees)
Annual Fee: $325
Key Benefits:
- Up to $120/year in Uber Cash (works for Uber, not Lyft)
- 4x points at restaurants (includes Uber Eats)
Best for: Those flexible between Uber and Lyft who want dining rewards.
[[ SINGLE_CARD * {"id": "118", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Frequent Travelers", "headerHint": "Generous Travel Rewards"} ]]
Chase Freedom Unlimited®
Annual Fee: $0
Lyft Benefits:
- Previously offered 5% on Lyft, now earns 2x (through September 2027)
- 1.5% back on everything else
Best for: Those wanting basic rewards without fees or complexity.
[[ SINGLE_CARD * {"id": "497", "isExpanded": "false", "bestForCategoryId": "15", "bestForText": "Cash Back Seekers", "headerHint": "Fantastic Cash Back Card"} ]]
How to Activate Your Lyft Benefits
For Chase Sapphire Reserve Cardholders
- Add card to Lyft app:
- Open Lyft app → tap profile icon
- Go to "Payment" section
- Add Chase Sapphire Reserve as payment method
- Set as default card
- Use your $10 monthly credit:
- Credit applies automatically at checkout
- Shows as "$10 ride credit" when booking
- Must use each month (doesn't roll over)
- Not valid on Wait & Save rides or bike/scooter rentals
- Earn 5x points:
- Points post automatically when using Reserve card
- Check Chase account to verify points
For Chase Sapphire Preferred Cardholders
- Add Preferred card to Lyft app as default payment
- Earn automatic 5x points on all rides
- No monthly credits to track—just earn points
Maximizing Your Strategy
Stack Additional Earning Programs
Link frequent flyer accounts:
- Alaska Airlines Mileage Plan: 1 mile per dollar
- Hilton Honors: 3 points per dollar
- Choose one to link at a time
Shop through portals:
- Check sites like Rakuten for occasional Lyft bonuses
- Can stack with card earning
Track Your Monthly Lyft Credits (Reserve Cardholders)
Don't let credits expire:
Set monthly reminders:
- Calendar alert on the 1st of each month
- "Use $10 Lyft credit before month ends"
Plan ahead:
- Schedule rides for recurring appointments
- Use for airport transfers you'd book anyway
- Gift rides to friends/family if you won't use it
Application Strategy: Credit Requirements
Before You Apply
Chase shows whether you're eligible for the welcome bonus before doing a hard credit pull:
- Visit the card application page
- Enter basic information
- Chase shows a pop-up indicating bonus eligibility
- Decide to proceed or stop before the hard pull
Credit Requirements
Chase Sapphire Reserve:
- Credit score: 670-850 (Good to Excellent)
- Typically requires excellent credit history
- Income verification may be requested
Chase Sapphire Preferred:
- Credit score: 670-850 (Good to Excellent)
- More accessible for those building premium credit history
- Lower income requirements than Reserve
Important: Chase has updated Sapphire bonus rules. If you've received a bonus on any Sapphire card previously, you may not be eligible for another Sapphire welcome bonus. Check eligibility before applying.
Final Recommendation: Which Card Should You Get?
Choose Chase Sapphire Reserve if:
- You spend $100+ monthly on Lyft consistently
- You travel frequently (3+ trips/year) and will use lounge access
- You want the highest earning rates across travel and dining
- The $795 annual fee doesn't intimidate you
- You value comprehensive travel protections
Bottom line: The Reserve pays for itself if you're a frequent traveler who will actually use the $420 in annual credits (Lyft + travel). The 125,000-point welcome bonus makes year one extremely valuable.
Choose Chase Sapphire Preferred if:
- You want Lyft bonus points without monthly credit pressure
- You're new to premium travel cards
- You travel occasionally but not frequently enough for Reserve benefits
- You prefer a manageable $95 annual fee
- You want flexibility without obligation to maximize complex credits
Bottom line: The Preferred offers 80% of the Reserve's earning power at just 12% of the annual fee. It's the smarter choice for most people.
Skip Both if:
- You rarely use Lyft (less than once a month)
- You don't travel and won't use other card benefits
- You prefer cash back simplicity over points programs
- You're uncomfortable with any annual fee
Alternative: Consider a no-annual-fee card like Chase Freedom Unlimited for basic rewards, or look into cards with Uber benefits if you're platform-flexible.
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Editorial Disclosure: Opinions expressed here are those of Kudos alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
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