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Why the Chase Sapphire Preferred is great for Lyft riders

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The Chase Sapphire Preferred Card comes with a generous sign-up bonus and an exceptional rewards proposition—especially when you consider its low $95 annual fee. Several cardholder perks can also make life more convenient or affordable, such as this card’s $50 annual hotel stay credit, trip cancellation and interruption insurance and the fact that you get purchase protection for 120 days (up to $500 per claim and up to $50,000 per account). You’ll also get a full free year of DoorDash DashPass (must be activated by March 31, 2025), which provides unlimited food deliveries with a $0 delivery fee and reduced service fees on orders over $12.

This rewards credit card offers bonus rewards in quite a few everyday spending categories, including dining, travel, online grocery services, select streaming services and more. Cardholders can also earn bonus points on Lyft rides through March 31, 2025—for a total of 5X points on qualifying Lyft rides—which we’ll go over in more detail below.

As a reminder: Details of the Chase Sapphire Preferred

Be sure to note the major details of the Chase Sapphire Preferred before you sign up, including the sign-up bonus, rewards rate, annual fee and interest rate.

Also, know that points earned with this card fall within the Chase Ultimate Rewards program, which is known for its flexibility. Cardholders can use their points for cash back, statement credits, gift cards, merchandise, travel through Chase and even 1:1 point transfers to Chase airline and hotel partners.

Chase Sapphire Preferred highlights

  • Welcome offer: Earn 80,000 bonus points after you spend $4,000 on purchases within three months of account opening
  • Annual fee: $95
  • Rewards rate: Earn 5X points on travel booked through Chase Ultimate Rewards and on Lyft rides (Lyft offer available through March 31, 2025); 3X points on dining, online grocery purchases (excluding Walmart, Target and wholesale clubs) and select streaming services; 2X points on general travel; 1X points on everything else
  • Notable benefit: Cardholders get 25 percent more value for their points when they redeem them for travel through Chase Ultimate Rewards
  • Regular APR: 15.99 percent to 22.99 percent (variable)

Chase Sapphire Preferred rideshare benefits

Chase Sapphire Preferred Lyft benefits

In addition to Chase Sapphire Preferred’s generous rewards offers in several everyday spending categories, cardholders can earn 5X points for each dollar they spend on Lyft rides through March 31, 2025. This benefit represents an extra 3X points on Lyft rides (on top of the 2X points already earned for general travel purchases).

Chase Sapphire Preferred Uber benefits

If you’re looking for a credit card that rewards you for both Lyft and Uber rides, this card can also be a good fit. The Chase Sapphire Preferred earns 2X points on regular travel purchases, which includes Uber rides.

Other travel options to consider

Cardholders also earn 5X points on travel booked through the Ultimate Rewards portal, which can include airport pickups and ground transfers in many destinations around the globe. These transfers aren’t the same as ridesharing per se, but you do have the option to earn bonus points for rides when you book ahead.

Of course, you can also redeem your Chase points for ground transportation through Chase, and you’ll get 25 percent more value for your points when you do.

Alternative cards to consider for earning rewards on Lyft rides

If your goal is to earn more points for ridesharing with Lyft, there are other cards that offer ridesharing or Lyft perks to consider.

Chase Sapphire Reserve

The Chase Sapphire Reserve is easily one of the best credit cards for Lyft rides due to Chase’s partnership with Lyft. As a cardmember, you can qualify for one year of complimentary Lyft Pink membership, which includes 15 percent off rides and other perks. This card also comes with 10X total points when you use your card to pay for Lyft rides (through March 31, 2025), which is very generous.

The Chase Sapphire Reserve charges a $550 annual fee, but it comes with lucrative benefits like Priority Pass Select airport lounge membership, a $300 annual travel credit and up to $100 in application fee credits for Global Entry or TSA PreCheck.

The Sapphire Reserve also offers 10X points on hotel stays and car rentals booked through Ultimate Rewards, 10X points on Chase Dining purchases through Ultimate Rewards, 5X points on flights booked through Ultimate Rewards (after earning the $300 travel credit), 3X points on general travel and restaurant purchases and 1X points on everything else.

U.S. Bank Cash+® Visa Signature® Card

The U.S. Bank Cash+® Visa Signature® Card is unique because it allows you to choose the bonus categories you earn the most in. You can earn 5 percent cash back on purchases in two categories of your choice (on up to $2,000 in combined purchases per quarter, then 1 percent), and ground transportation is one of the options for earning 5 percent cash back. This card also doesn’t charge an annual fee, and new cardholders can earn a $200 bonus after spending $1,000 on eligible purchases within 120 days of account opening.

Consumers who choose the U.S. Bank Cash+ Visa Signature also earn 2 percent cash back on one everyday spending category of their choosing (either gas stations, grocery stores or restaurants) as well as 1 percent back on everything else.

American Express® Green Card

Also consider the American Express® Green Card, which offers quite a few bonus categories and the chance to earn points in the American Express Membership Rewards program. This card starts you off with a welcome offer of 30,000 Membership Rewards points after you spend $2,000 on purchases within three months of account opening. Cardholders also earn 3X points at restaurants worldwide (including takeout and delivery) and on travel (which includes rideshare services such as Lyft), 2X points on rental cars booked through American Express Travel and 1X points on everything else.

A $150 annual fee is required for this card, but you get perks like a $100 credit toward a Clear membership and a $100 credit for airport lounge access through LoungeBuddy, among others.

The bottom line

If you want to choose a credit card based on the rewards and perks you get with Lyft, there are several decent options to choose from. However, you should make sure the card you select offers bonus points in other categories you spend a lot in, whether that includes dining, groceries, travel or something else. This will help you to get more bang for your buck with your card over time. Still, make sure to research all of the best travel credit cards available before you decide.

The information about American Express® Green Card has been collected independently by Bankrate.com. The card details have not been reviewed or approved by the card issuer.
Written by
Holly D. Johnson
Author, Award-Winning Writer
Holly Johnson writes expert content on personal finance, credit cards, loyalty and insurance topics. In addition to writing for Bankrate and CreditCards.com, Johnson does ongoing work for clients that include CNN, Forbes Advisor, LendingTree, Time Magazine and more.
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