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Mastercard is partnering with popular rideshare service Lyft to bring even more value to the network’s World Elite cardholders.
Lyft and Mastercard announced their new partnership on Tuesday. Now, Mastercard World Elite cardholders can earn $10 in Lyft credit after taking five qualifying rides each calendar month. The deal is capped at one $10 credit per month.
“We are continually enhancing the customer experience for the Lyft community and Mastercard helps us connect with our riders in a brand new way,” says David Baga, chief business officer for Lyft. “By partnering with Mastercard, we are able to make an even greater impact by rewarding riders for their everyday trips.”
Here’s how the partnership can benefit you:
How it works
In order to become eligible for the Lyft credit, all you have to do is enroll within your Lyft app and pay for qualifying rides using your World Elite Mastercard.
From the menu, tap “Notifications” and choose the World Elite Mastercard offer to complete your enrollment. You’ll receive a notification when the $10 credit has posted to your account each month after completing your 5th qualifying ride. The credit is automatically applied to your next Lyft ride.
Is your card a World Elite Mastercard?
You can tell if you’re a World Elite cardholder simply by looking for the words on your card above the Mastercard logo. These cards come with standard Mastercard protections like zero liability on unauthorized charges and price protection, but they also include premium perks like World Elite Air, Cruise and Car Rental Programs; Mastercard Lowest Hotel Rate Guarantee; Mastercard Hotel Stay Guarantee and Mastercard Priceless Golf.
Popular cards in the World Elite program include:
- Barclaycard Arrival Plus® World Elite Mastercard®
- Citi® / AAdvantage® Platinum Select® World Elite™ Mastercard®
- Citi® / AAdvantage® Executive World Elite™ Mastercard®
- Citi® Prestige Card
- U.S. Bank Business Cash Rewards World Elite™ Mastercard®
How to get the best value
This partnership likely isn’t reason enough alone to sign up for one of the World Elite cards listed above, but if you’ve been debating completing an application and you’re a frequent Lyft customer, it may tip the scales in Mastercard’s favor.
Additionally, if you already hold a card in the World Elite program, this could be a reason to switch to Lyft as your primary rideshare service, at least for the first five rides you take per month.
If you already make at least five trips using Lyft per month, this $10 credit is a great value add in addition to your card’s primary rewards.
For instance, if you are a Barclaycard Arrival Plus cardholder, you’ll already earn 2X miles on each dollar you spend with Lyft (and on every purchase you make with the card). If your five rides each total the national rideshare average cost of $12.62 (according to a 2015 study by SherpaShare), your $10 credit, which you can put towards any additional rides for the month, will net you a 15.85 percent monthly return on Lyft rides. That’s in addition to the 126 miles you earn on those five rides by paying with the Arrival Plus card.
Some metro regions may have more costly averages or you may take more than five rides in a calendar month, which won’t count towards the credit. But if you’re savvy with your Lyft spending and don’t spend more on the service than you already would have in order to earn the credit, you can earn great value with this partnership.
Don’t forget to look into other ways you can earn with Lyft as well, like linking your Delta SkyMiles account to earn one mile per dollar spent on rides (two miles per dollar on rides to and from airports) or linking your JetBlue TrueBlue account to earn 30 TrueBlue points for every airport ride.
Mastercard continues to partner with more brands, including Fandango, Postmates and Boxed, to add value for World and World Elite cardholders beyond individual rewards earnings. Stay up-to-date on which perks you already have by reading the fine print of your card agreement or checking out Bankrate’s credit card reviews.
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