Best credit cards for Uber and Lyft
Where most of us grew up knowing you should never get in a car with a stranger, new technology has changed the way many people get around. The reality is, ridesharing has become an incredibly popular transportation option, and that’s especially true in big cities where Uber and Lyft drivers are easy to find. With just your smartphone and a few taps of your finger, you can summon a stranger for a ride to the airport, dinner with friends or anywhere else you want to go.
Fortunately, several credit card issuers have chosen to target ridesharing customers by offering bonus rewards or even credits toward ridesharing as cardholder perks. With a credit card that offers travel rewards and special perks for Uber or Lyft you can earn valuable points for travel and score special discounts along the way.
But, what is the best credit card for Uber? And what about for Lyft? There are actually quite a few top rewards cards that offer special benefits for one or both.
Best credit cards for Uber
The Platinum Card® from American Express
- Earn 75,000 Membership Rewards points when you spend $5,000 on your card within six months of account opening
- Earn 5X Membership Rewards points for flights booked directly or flights and prepaid hotels booked through AmexTravel.com; earn 1X points on other purchases
- $550 annual fee
- Perks include up to $200 in Uber credits per year, a $200 airline fee credit, airport lounge membership with the the Global Lounge Collection, no foreign transaction fees, a credit for Global Entry or TSA Precheck, up to 12 months of free Uber Eats Pass when you sign up by Dec. 31, 2021, and more
- See Terms
The Platinum Card® from American Express is a top contender for the best credit card for Uber since you get up to $200 in Uber credits each year when you pay with your card. These credits are doled out in $15 per month increments, with the final amount of $35 granted in the month of December.
Although these funds are applied directly to your Uber rides each month when you connect your credit card to your account, you should remember that your Uber credits won’t roll over month-to-month. Which means you’ll need to be a regular Uber user to take full advantage. You’ll also earn just 1x Membership Rewards for Uber rides and regular non-bonus purchases made with this card. This is a small price to pay to qualify for up to $200 in Uber credits each year, but it’s still worth noting.
This card does have a pricey annual fee, but you’ll get other perks like airport lounge membership, a $200 airline fee credit for a select airline each year and up to $100 credit toward Global Entry or TSA Precheck. When you add in the welcome bonus and ongoing rewards you can earn, justifying the annual fee can be a breeze if you’re someone who travels a lot.
American Express® Gold Card
- Earn 60,000 Membership Rewards points when you spend $4,000 on your card within six months of account opening
- Earn 4X points on U.S. supermarket purchases (up to $25,000 per year, then 1X points), 4X points on restaurant purchases (including Uber Eats orders), 3X points on flights and 2X points on travel booked through American Express Travel and 1X point on all other purchases
- $250 annual fee
- Perks include up to $120 in Uber Cash per year ($10 per month), up to 12 months of free Uber Eats Pass when you sign up by Dec. 31, 2021, up to $120 in dining credits per year ($10 per month at select merchants, including Grubhub/Seamless, Boxed, The Cheesecake Factory and more) and no foreign transaction fees
The American Express Gold Card is also a great option for Uber rides. It comes with up to $100 in Uber Cash per year, which is slightly less than the Amex Platinum, but it also boasts a more affordable annual fee of $250. Additionally, Uber Eats enthusiasts will be glad to know that the card’s 4X earning rate on restaurant purchases also applies to Uber Eats orders.
Best credit cards for Lyft
Chase Sapphire Preferred® Card
- Earn 60,000 points worth $750 in travel when you spend $4,000 on your card within three months of account opening
- Earn 5X points on Lyft rides, 2X points on travel and dining and 1X points on other purchases
- $95 annual fee
- Important benefits include trip cancellation and interruption insurance, auto rental collision damage waiver, baggage delay insurance and no foreign transaction fees
The Chase Sapphire Preferred is one of the top travel credit cards on the market today, but it recently became even more beneficial for Lyft rides. Starting in January of 2020, this card started offering 5X points on all your Lyft purchases, and that’s on top of the 2X points you earn on travel and dining and 1X points on other purchases.
You’ll also get a free membership to DashPass for one year, which lets you qualify for free delivery on DoorDash purchases of $12 or more. Also note that Chase Ultimate Rewards points are some of the most valuable and flexible available today since you can use them for gift cards, merchandise, statement credits or experiences. You can also redeem them for 25 percent more travel through the Chase Ultimate Rewards Portal with this card, or for 1:1 transfers to popular loyalty programs like Southwest Rapid Rewards, British Airways, United MileagePlus, Marriott Bonvoy and World of Hyatt.
Chase Sapphire Reserve®
- Earn 50,000 points worth $750 in travel when you spend $4,000 on your card within three months of account opening
- Earn 10X points on Lyft rides, 3x points on travel and dining and 1X points on other purchases
- $550 annual fee
- Benefits include a Lyft Pink membership for one year with 15 percent off all Lyft rides, airport lounge access with Priority Pass™ Select, a $300 annual travel credit good toward general travel or Lyft rides, a credit for Global Entry or TSA Precheck and more
The Chase Sapphire Reserve® comes with a pricey $550 annual fee, but it’s easily the most valuable rewards credit card for Lyft rides available today. This card comes with a Lyft Pink membership that is normally valued at $199, which includes priority airport pickups as well as 15 percent off Lyft rides. You’ll also earn 10X points on Lyft purchases, which can add up quickly if you use Lyft for rides all the time.
Other cardholder benefits you’ll receive include airport lounge membership and a $300 annual credit which can be used for travel purchases, including Lyft rides. You’ll also earn a credit for Global Entry or TSA Precheck and receive 50 percent more value when you use points to book airfare, hotels and more through the Chase Ultimate Rewards portal.
This card also offers the same valuable transfer partners as other premier Chase travel credit cards, as well as the ability to transfer all points at a 1:1 ratio. You’ll also get important travel protections like trip cancellation/interruption insurance, primary auto rental insurance and emergency evacuation coverage, among other perks.
Best credit cards for ridesharing with no annual fee
Chase Freedom Unlimited®
- Earn a $200 cash bonus when you spend $500 on your card within three months of account opening
- Earn 5 percent back on Lyft rides through March 2022, 5 percent back on travel purchased through Ultimate Rewards, 3 percent on dining and drugstore purchases and at least 1.5 percent back on all other purchases made with your card
- No annual fee
- 0 percent intro APR on purchases for 15 months, followed by a variable APR of 14.99 percent to 23.74 percent
If you’re a regular Lyft rider who wants to earn more rewards on Lyft purchases with no annual fee, you should consider the Chase Freedom Unlimited®. Not only will you earn at least 1.5 percent cash back for purchases made with your credit card, but you’ll earn 5 percent back for all your purchases made with Lyft through March 2022.
This card also lets you enjoy a 0 percent introductory APR on purchases for 15 months, which can help you pay off a large purchase over time. On the redemption side of the equation, you can redeem your rewards for gift cards, merchandise, experiences, travel and even statement credits to cover Lyft purchases charged to your credit card.
Wells Fargo Propel American Express® card
- Earn 20,000 bonus points worth $200 in cash redemption value when you spend $1,000 on your card within three months of account opening
- Earn 3X points on rideshares including Uber and Lyft, dining, gas stations, transit, flights, hotels, homestays, car rentals and popular streaming services, plus 1x points on other purchases
- No annual fee
- Other benefits include cell phone protection, lost luggage reimbursement, auto rental collision damage waiver, roadside assistance and 24/7 travel and emergency assistance
The Wells Fargo Propel American Express® card is another no annual fee option to consider if you want to earn bonus rewards on ridesharing. This card offers 3X points in a wide range of travel categories including Uber and Lyft rides, which is a nice perk if you use both services instead of just one.
This card also comes with a generous welcome bonus, as well as an array of travel perks and protections almost anyone could benefit from. If you prefer to redeem your rewards for rides with Uber or Lyft, you can do that as well. According to the terms and conditions of this card’s rewards program, you can redeem for cash rewards to cover any purchase (including rideshare purchases) over the phone or online once you have at least $25 in rewards built up in your account. You can also redeem rewards for cash from a Wells Fargo ATM in increments of $20, or for various travel options through the Wells Fargo Go Far Rewards program.
How to pick the right credit card for ridesharing
If you’re struggling to decide which rewards credit card could help you maximize ridesharing to the hilt, you should ask yourself several important questions. Here are all the issues you need to think over before you pick up a new credit card:
- Figure out the type of rewards you want to earn. Some credit cards for Uber or Lyft let you earn cash back or credits for more ridesharing, but others offer flexible points you can redeem in more than one way. Make sure you study and compare rewards programs so you wind up with the type of rewards currency that will benefit you the most.
- Decide if you want to pay an annual fee. Several of the top credit cards for Uber or Lyft come with pricey annual fees, but these fees can be well worth it if you travel often and can take advantage of benefits like annual travel credits, airport lounge access and credits for Global Entry or TSA Precheck. If you don’t want to pay an annual fee, you can choose a credit card for ridesharing that offers superior rewards for Uber or Lyft purchases without the extra travel perks.
- Uber, Lyft or both? Some of the travel credit cards featured above only offer exceptional rewards or credits for Uber or Lyft, but not both. If you only use one of these services, this should narrow down your options considerably.
- Consider pairing cards with complementary features. Finally, don’t forget to consider pairing different cards that help you reach different objectives. You can pick up a credit card for Uber and Lyft in order to take advantage of ridesharing benefits, but you can use a different card that lets you earn a higher rate or rewards for all your regular purchases. If you use both Uber and Lyft, on the other hand, you can pick up different cards that offer unique rewards rates or benefits in each program.