Chase's brand new partnership with Lyft is now live, and that means you can start earning as much as 10x points per Lyft ride when using a Chase credit card.
This new bonus earning on Lyft rides (or scooter and bike rentals) was a silver lining of the increasing annual fee on the Chase Sapphire Reserve. That card's higher $550 annual fee kicked in Sunday, Jan. 12 for new applicants while existing cardholders won't be hit with the higher renewal fee until April.
But it's not just the top-dollar Reserve card that reaps the benefits on Lyft rides through March 2022. While the Chase Sapphire Reserve earns the biggest bonuses, many of Chase's travel cards will earn extra points. Here's a look at how they'll earn bonus points on Lyft:
- Chase Sapphire Reserve: 10x on Lyft
- Chase Sapphire Preferred Card: 5x on Lyft
- Chase Ink Business cards: 5x on Lyft
- Chase Freedom: 5% cashback on Lyft (can be converted to 5x points)
- Chase Freedom Unlimited: 5% cashback on Lyft (can be converted to 5x points)
- Chase Freedom Student Credit Card: 5% cashback on Lyft (can be converted to 5x points)
Lyft car rides, as well as the rideshare platform's bike and scooter rentals, all qualify for the bonuses. These bonuses run all the way through March 2022, and there's no ruling out an extension.
The Chase Sapphire Reserve already earns 3x on Lyft rides, while the Preferred card earns just 2x for travel-related purchases. So these are substantial improvements.
As a part of the card's overhaul, Chase Sapphire Reserve cardholders also get a free Lyft Pink membership: 15% off all rides, priority airport pickups, and a relaxed ride cancellation policy. To activate your membership, you will need to add your Chase Sapphire Reserve card to your Lyft account as a payment method. Even if you already have the card added to your account, adding it again will trigger the enrollment process for complimentary membership.
After adding my Reserve card to my account again, I received the following email prompting me to enroll in Lyft Pink.
After clicking the activate button, it brought me back to the Lyft mobile app to complete my enrollment. The entire process took just a few minutes, and I now have Lyft Pink membership through January 13, 2021.
Thrifty Tip: Why not double – or triple – dip? Even with this bonus earning, you can still also earn Delta SkyMiles and Hilton Honors points on every single Lyft ride, too. Just add your eligible Chase card to your Lyft account. Any ride or rental will earn you these bonuses.
While it certainly won't offset the Reserve card's $100 higher annual fee for everyone, this bonus earning doesn't hurt.
For instance, spending $100 on Lyft rides each month on the Chase Sapphire Reserve could earn you up to 12,000 Ultimate Rewards points in a year. And that's nothing to sneeze at.
That stash of points gets you at least $180 toward travel, as every point is worth 1.5 cents when redeeming through the Chase Ultimate Rewards travel portal. It could be worth far more using some of the excellent Chase transfer partners.
And for all other Chase cardholders, this addition is nothing but good news. Earning 5x on all Lyft rides for more than two years is a great addition to the Chase Sapphire Preferred, Chase Ink Business, and Chase Freedom cards. And it's coming at no added cost.
Get your Chase card ready for your next Lyft ride.
Earning 10x on Lyft rides (and other Lyft services) could go a long way toward justifying the cost of keeping the Chase Sapphire Reserve. And for every other Chase cardholder out there, this new partnership with Lyft is worth celebrating, as you're earning far more points without paying anything extra.
Lead photo courtesy of Lyft