Ridesharing services like Lyft have become an integral part of modern transportation. Choosing the right credit card can significantly enhance the value of your Lyft rides by offering valuable rewards, discounts, and other perks. This article will explore the best credit cards for Lyft users in 2024, helping you maximize your savings and earn valuable rewards on every ride.
Top Credit Cards for Lyft Riders: A Comprehensive Comparison
| Credit Card | Earning Rate on Lyft | Key Benefits & Features |
|---|---|---|
| Chase Sapphire Preferred® Card | 2x points on travel (includes Lyft) | High redemption value for travel through Chase Ultimate Rewards portal, travel and purchase protection, no foreign transaction fees, annual travel credit. |
| Chase Sapphire Reserve® Card | 3x points on travel (includes Lyft) | Premium travel benefits, including airport lounge access, higher redemption value for travel, travel and purchase protection, $300 annual travel credit, Global Entry/TSA PreCheck credit, no foreign transaction fees. |
| American Express® Gold Card | 4x points on U.S. Supermarkets (up to $25,000 per year, then 1x) & Restaurants worldwide | High rewards on dining and groceries, valuable Amex Offers, travel and purchase protection, access to Amex Membership Rewards program, annual dining credit. While no direct Lyft bonus, excellent overall rewards make it a strong contender. |
| Capital One Venture X Rewards Credit Card | 2x miles on all purchases | Simple rewards structure, generous travel credits and perks, airport lounge access, Global Entry/TSA PreCheck credit, no foreign transaction fees. Effective for Lyft due to the flat-rate rewards on all spending. |
| Uber Visa Card (No Longer Available to New Applicants) | 4x points on Uber & Lyft (for existing cardholders) | High rewards on Uber & Lyft (for existing cardholders), dining, and travel; no annual fee. While no longer available to new applicants, it remains a valuable card for those who already possess it. |
| Citi Premier® Card | 3x points on restaurants, supermarkets, gas stations, air travel, and hotels | Broad bonus categories, valuable Citi ThankYou Points, travel and purchase protection, no foreign transaction fees. While no direct Lyft bonus, the generous bonus categories make it a strong overall choice. |
| Ink Business Preferred® Credit Card | 3x points on travel and select business categories | High rewards for business travel and spending, travel and purchase protection, cell phone protection, valuable Chase Ultimate Rewards points. Can be a great option if you use Lyft for business purposes. |
| Bank of America® Premium Rewards® credit card | 1.5 points per $1 spent on all purchases | Simple rewards structure, potential for higher rewards with Bank of America Preferred Rewards program, travel and purchase protection, Global Entry/TSA PreCheck credit, no foreign transaction fees. Offers good redemption options including cash back and travel. |
Detailed Explanations
Chase Sapphire Preferred® Card: This card offers 2x points on all travel purchases, including Lyft rides. The points earned can be redeemed for travel through the Chase Ultimate Rewards portal, often at a higher value than cash back. It also offers valuable travel and purchase protection benefits, making it a well-rounded choice for frequent travelers. The card has an annual fee, but the benefits can easily outweigh the cost for those who travel frequently.
Chase Sapphire Reserve® Card: This premium card boasts 3x points on travel, which includes Lyft. The Chase Sapphire Reserve® also provides premium travel benefits such as airport lounge access, a $300 annual travel credit, and a higher redemption value for travel booked through the Chase Ultimate Rewards portal. This card comes with a higher annual fee, but the extensive benefits make it a worthwhile investment for those who travel frequently and value luxury perks.
American Express® Gold Card: While the American Express® Gold Card does not directly offer bonus rewards on Lyft, its strong earning potential in other categories makes it a valuable card for overall spending. It offers 4x points on purchases at U.S. supermarkets (up to $25,000 per year, then 1x) and at restaurants worldwide. The points earned can be redeemed through the Amex Membership Rewards program for travel, merchandise, and more.
Capital One Venture X Rewards Credit Card: This card offers a simple and straightforward rewards structure, earning 2x miles on all purchases, including Lyft. The Capital One Venture X also provides generous travel credits and perks, such as airport lounge access and a statement credit for Global Entry or TSA PreCheck. This card is a great option for those who prefer a flat-rate rewards program and want to avoid tracking bonus categories.
Uber Visa Card (No Longer Available to New Applicants): For existing cardholders, the Uber Visa Card remains a valuable option for earning rewards on Lyft rides. It offers 4x points on Uber and Lyft rides, as well as on dining and travel. While new applications are no longer accepted, those who already have the card can continue to enjoy its benefits.
Citi Premier® Card: The Citi Premier® Card offers 3x points on various categories including restaurants, supermarkets, gas stations, air travel, and hotels. While it does not offer a direct bonus on Lyft, its broad bonus categories make it a valuable card for overall spending. The earned points can be redeemed through the Citi ThankYou Points program for travel, gift cards, and more.
Ink Business Preferred® Credit Card: If you frequently use Lyft for business purposes, the Ink Business Preferred® Credit Card can be a great option. It offers 3x points on travel and select business categories, allowing you to earn valuable rewards on your business-related Lyft rides. It also offers travel and purchase protection, as well as cell phone protection.
Bank of America® Premium Rewards® credit card: This card offers 1.5 points per $1 spent on all purchases, including Lyft. The Bank of America® Premium Rewards® credit card offers a simple rewards structure with potential for higher rewards with the Bank of America Preferred Rewards program. It offers good redemption options including cash back and travel.
Frequently Asked Questions
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Which credit card gives the most points on Lyft? Currently, the Chase Sapphire Reserve® Card offers the most points at 3x on travel, including Lyft. Existing Uber Visa Card holders still get 4x points.
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Is it worth getting a credit card just for Lyft? It depends on how often you use Lyft. If you're a frequent rider, the rewards can outweigh the annual fee, but if you only occasionally use Lyft, a general rewards card might be a better option.
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What is the best way to redeem points earned on Lyft rides? Redemption options vary by card, but typically include travel, cash back, gift cards, and merchandise. Travel redemptions often offer the highest value.
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Do any credit cards offer automatic discounts on Lyft rides? Some cards offer statement credits or other perks that can effectively reduce the cost of Lyft rides. Check the specific terms and conditions of your card.
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Can I use a business credit card for Lyft rides? Yes, especially if you use Lyft for business purposes. The Ink Business Preferred® Card is a good option for earning rewards on business-related Lyft rides.
Conclusion
Choosing the best credit card for Lyft depends on your spending habits, travel frequency, and desired rewards. The Chase Sapphire Reserve® and Chase Sapphire Preferred® cards are excellent choices for maximizing travel rewards. However, the Capital One Venture X Rewards Credit Card offers a simple flat-rate reward on all purchases, and the American Express® Gold Card provides valuable rewards on dining and groceries. Carefully consider your needs and preferences to select the card that best suits your Lyft riding habits and overall financial goals.