[2020] New Lyft Benefits Deliver More Value for Chase Credit Cardholders

The popularity of ridesharing sparked this partnership that gives cardholders more rewards.
Last updated Jan 14, 2020 | By Robin Kavanagh
Man hailing rideshare

FinanceBuzz is reader-supported. We may receive compensation when you click links to products or services mentioned in this story. The opinions and recommendations are the author's own and have not been reviewed, endorsed, or approved by any of these entities. Learn more about how we make money.

Chase recently analyzed how its credit card customers are spending and found that more and more cardholders are swiping for rideshare services. Armed with this knowledge, Chase has partnered with Lyft to deliver more value for using Chase cards to pay for rideshare services.

If you have a Chase credit card, you may be able to earn more points and get exclusive discounts with Lyft. This quick-reference guide explains these new benefits and how Chase cardholders can take advantage of them.

Jump To

What are the new Lyft benefits for Chase cardmembers?

Chase Sapphire, Freedom, and Ink cardholders are able to earn up to 5% cash back or up to 10X points every time they use their cards to pay for a Lyft trip through March 2022. And if you’re a Chase Sapphire Reserve cardholder, you can also get a full year membership for Lyft Pink.

With Lyft Pink, you get 15% off on your Lyft rides, priority airport pickups, special offers, relaxed cancellations, waived lost-and-found fees, and three free 30-minute bike or scooter rides per month. Typically, membership costs $19.99 a month; however, Chase Sapphire Reserve cardholders will now get one year of Lyft Pink for free.

Which Chase cards come with Lyft benefits?

Chase’s Lyft benefits only apply to specific cards. Here is a look at each eligible card and what benefits you can get from Lyft for using your card.

Chase Card Lyft Benefit(s)
Chase Sapphire Reserve 10X points on Lyft rides (starting Jan. 12, 2020)
1 free year of Lyft Pink
Chase Sapphire Preferred 5X points on Lyft rides (starting Jan. 12, 2020)
Chase Freedom, Freedom Unlimited, and Freedom Student 5% back on Lyft rides
Ink Business Preferred 5X points on Lyft rides
Ink Business Cash and Ink BusinessUnlimited 5% back on Lyft rides

How to start earning Chase rewards with Lyft

Getting your rewards from this new Lyft partnership is easy. First, make sure that your eligible Chase card is connected to your Lyft account and set as your preferred method of payment. If you use multiple Chase cards to pay for ridesharing, consider linking each to your Lyft account so you can earn rewards for every ride you take.

Second, make sure your Lyft app is up to date. If you’re using an outdated version of the Lyft app, it may not correctly apply the benefit to your rides. Finally, simply choose Lyft for your rideshare needs. Going with Lyft enables you to get dual benefits: you get where you need to go and earn rewards at the same time.

And if you have the Chase Sapphire Reserve, you also get to enjoy the perks of a Lyft Pink membership. You have until March 2022 to activate your free 1-year membership. Just set your Chase Sapphire Reserve as your default payment method in the app and you'll see instructions for how to activate your membership.

FAQs about Chase and Lyft

When does the partnership between Chase and Lyft start and end?

On Jan. 12, 2020, eligible Chase cardholders can start earning extra points on Lyft rides. The Chase Sapphire Reserve earns 10X points on Lyft rides (starting Jan. 12, 2020) while the Chase Sapphire Preferred, Freedom and Ink cards earn 5X or 5% on Lyft rides through March 2022.

What types of rides are eligible for 5X and 10X points?

In order to receive the Chase point bonus on Lyft rides, there are a few requirements:

The ride must be paid for with an eligible Chase card. This includes payments made with an eligible Chase card via Apple Pay or Google Pay.

Card rides must be one of these types: Standard, Shared Saver, Lux, Lux Black, Lyft XL, Lyft Black XL.

Bike and scooter rides must be booked directly through the Lyft app in the U.S. If you book through a partner app, you won't be eligible for the bonus points.

What is the value of a Lyft Pink membership?

A Lyft Pink membership is valued at $19.99/month or $239.88 annually.

What do you get with a Lyft Pink membership?

Lyft Pink membership perks include:

  • 15% off unlimited Lyft rides
  • Priority airport pickups
  • Relaxed cancellation policy
  • Waived lost and found fees
  • Three free 30-minute Lyft bike or scooter rides each month

What happens at the end of my free year of Lyft Pink?

According to Lyft, you'll have the option to opt in to continuing your Lyft Pink membership when your free year with the Chase Sapphire Reserve ends. You will not be auto-enrolled or charged for another year. The choice is yours whether you continue as a paying member.

The final word on Chase’s new Lyft benefits

The rideshare market has boomed worldwide, thanks to demand by travelers like you. If you find yourself scheduling rides several times a week, whether as a way of getting around the city you live/work in or due to frequent travel, Chase’s new Lyft benefits could translate into significant rewards.

And using this new program is really simple. You don’t have to sign up or register anywhere (unless you don’t already have a Lyft account). Just open the Lyft app, schedule your ride, then pay with your Chase card, and you’re good to go.

#1 Travel Rewards Card

Chase Sapphire Preferred

Chase Sapphire Preferred

Chase Sapphire Preferred

Benefits

  • 60,000 point sign-up bonus
  • 2X points on eligible dining and travel purchases
  • 25% more value when redeeming rewards for travel through Chase Ultimate Rewards
  • Premium travel protection benefits
  • No foreign transaction fees
Advertising Policy

FinanceBuzz.com is an independent, advertising-supported website. Some of the offers that appear on this page are from third party advertisers from which FinanceBuzz.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear).

FinanceBuzz.com does not include all financial or credit offers that might be available to consumers in the marketplace. FinanceBuzz.com does not include all companies or all available products.

FinanceBuzz has partnered with CardRatings for our coverage of credit card products. FinanceBuzz and CardRatings may receive a commission from card issuers.

Editorial Disclaimer

The editorial content on this page is not provided by any of the companies mentioned, and have not been reviewed, approved or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone.