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Rideshare trips can get expensive, but smart riders can save when they earn points on each trip with their credit card.
The Chase Sapphire Reserve® takes it a step further for Lyft loyalists, offering free rides from day one.
High Investment, High Reward
The Chase Sapphire Reserve® is a household name in the travel card community, thanks to its high annual fee of $795. While the fee may be out of reach for some, it does come with a slew of amenities not many cards can trump.
The card, which recently underwent a revamp, with a boost in Lyft perks, is now one of the best travel rewards cards on the market to max out Lyft multipliers.
Chase Sapphire Reserve® cardholders earn 5 points per dollar on eligible Lyft rides and $120 in annual Lyft ride credits through the app. The credit is distributed in increments of $10 each month through September 30, 2027.
Credits are automatically applied to your Lyft account when you add the card as a payment method, and any unused credit expires at the end of the month.
The credit is available for use on most Lyft services, including standard, extra comfort, XL, black, or black SUV modes. Exceptions include wait & save rideshares and bike or scooter rides.
Make Your Money Go the Extra Mile
Rideshares are getting more expensive. A March 2024 Bloomberg Second Measure analysis found that the average Lyft customer spent $95 a month on the service, 5 percent higher than in March 2023 and 8 percent higher than in March 2022.
By utilizing the Chase Sapphire Reserve®’s built-in perk, you could buffer your rideshare budget by $120 per year.
The caveat: The travel card’s expensive annual fee means that those interested should take a hard look at the offered benefits to make sure the card would be a worthwhile addition to their wallet.
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