Chase partners with Lyft for ride discounts, up to 10x earnings and more
Update: Some offers mentioned below are no longer available. View the current offers here.
For awhile now, the best credit card to use for saving cash on ride-hailing services has been The Platinum Card® from American Express because it comes with up to $200 in annual Uber credits ($15/month and $35 in December). But now Chase is stepping up to the plate and is adding Lyft benefits to the Chase Sapphire Reserve.
Starting Jan. 12, 2020, Sapphire Reserve cardholders will get a complimentary year of Lyft Pink membership, which normally costs $19.99/month. This membership gets you 15% off all rides, three free cancellations a month (you must rebook within 15 minutes of cancelling), three free bike or scooter rides per month, priority airport pickups and more. To get the free Pink membership, make sure you have the latest version of the Lyft app downloaded, then set your eligible Chase card as your default payment method. After that, you'll enjoy a complimentary year of Lyft Pink, currently valued at $239.
TPG Reporter Liz Hund found the membership to be worth double the monthly cost. On top of that, you'll also earn 10x Ultimate Rewards points on Lyft rides when you pay with your Reserve card. That's a massive return equal to 20% according to TPG's latest valuations.
You'd normally need to spend $135 a month in Lyft rides for the 15% discount to justify the cost of a Lyft Pink membership, which doesn't include the other perks at all. So this is a solid addition to the card and it isn't hard to get value from these if you use ride-hailing services even occasionally. But, the addition of these benefits is being offset by a $100 increase in the card's annual fee (from $450 to $550 per year).
The Lyft discounts and bonus earning rate aren't the only new features the card is getting, Chase has also added several new benefits for the DoorDash delivery service. You can read more about the other new Sapphire Reserve perks here.
If you're interested in applying for the Sapphire Reserve, now is the time to do it because if you get your application in before Jan. 12, you can lock in the lower annual fee for the first year. For existing cardholders, the higher annual fee will apply to account renewals as of April 1, 2020.
Related reading: Significant changes confirmed for Chase's Sapphire Reserve card
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Rewards
| 2X miles | 2 miles per dollar on every purchase |
| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
| 10X miles | 10 miles per dollar on hotels and rental cars booked through Capital One Business Travel |
Intro offer
Annual Fee
Recommended Credit
Why We Chose It
The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
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- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month
Rewards Rate
| 2X miles | 2 miles per dollar on every purchase |
| 5X miles | 5 miles per dollar on flights and vacation rentals booked through Capital One Business Travel |
| 10X miles | 10 miles per dollar on hotels and rental cars booked through Capital One Business Travel |
Intro Offer
Earn 200K miles when you spend $30K in the first 3 months, and an additional 200K miles when you spend $150K in the first 6 monthsLIMITED-TIME OFFER: Earn up to 400K bonus milesAnnual Fee
$395Recommended Credit
Credit ranges are a variation of FICO® Score 8, one of many types of credit scores lenders may use when considering your credit card application.740-850Excellent
Why We Chose It
The Capital One Venture X Business Card has all the Capital One Venture X Rewards Credit Card has to offer and more. It offers an incredible welcome bonus and requires an equally impressive spend to qualify. In addition, the card comes with premium travel perks like annual travel credit. (Partner offer)Pros
- The Capital One Venture X business card has a very lucrative welcome offer.
- In addition, the card comes with many premium travel perks such as an annual $300 credit for bookings through Capital One Business Travel.
- Business owners are also able to add employee cards for free.
Cons
- The card requires significant spending to earn the welcome offer.
- Another drawback is that the annual travel credit can only be used on bookings made through Capital One Business Travel.
- LIMITED-TIME OFFER: Earn up to 400K bonus miles: 200K miles when you spend $30K in the first 3 months, and an additional 200k miles when you spend $150k in the first 6 months
- Earn unlimited 2X miles on every purchase, everywhere—with no limits or category restrictions
- Earn 10X miles on hotels and rental cars and 5X miles on flights and vacation rentals booked through Capital One Business Travel
- With no preset spending limit, enjoy big purchasing power that adapts so you can spend more and earn more rewards
- Empower your teams to make business purchases while earning rewards on their transactions, with free employee and virtual cards. Plus, automatically sync your transaction data with your accounting software and pay your vendors with ease
- Redeem your miles on flights, hotels and more. Plus, transfer your miles to any of the 15+ travel loyalty programs
- Every year, you'll get 10,000 bonus miles after your account anniversary date. Plus, receive an annual $300 credit for bookings made through Capital One Business Travel
- Receive up to a $120 credit for Global Entry or TSA PreCheck®. Enjoy access to 1,300+ airport lounges worldwide, including Capital One Lounge locations and Priority Pass™ lounges, after enrollment
- Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
- This is a pay-in-full card, so your balance is due in full every month