Several Chase Cards Will Earn More Rewards on Lyft Rides


At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

It’s been a busy week for Chase partnerships.

The issuer has announced a slew of new benefits for several eligible cards, including discounts on DoorDash delivery services (available as of Jan. 7, 2020) and incentives for purchasing Lyft rides (as of Jan. 12).

That latter benefit, in particular, extends to a wide array of Chase products. Here’s what you need to know before hitching your next Lyft ride.

How it works

To earn points on rides, you’ll have to open the latest version of the Lyft app and add an eligible Chase credit card as your default payment method.

Here’s a list of Chase credit cards that will qualify for this promotion:

» MORE: NerdWallet’s best credit cards for transit spending

Is this a good deal?

Earning 5X back on rideshares is among the highest rates you can find, and if you frequently use Lyft, the rewards can definitely add up in value.

But there may be other factors to consider, depending on which Chase card you have. With the Chase Sapphire Reserve®, for example, you’ll have to weigh the impending $100 increase in the card’s annual fee, also taking effect Jan. 12.

With that card, if you spend at least $667 in the year you activate Lyft Pink, you can potentially defray the added cost. But it’s not worth spending outside of your budget to do so.



Source link