Lyft launches cash rewards program for loyal riders — does it make sense for you?
Editor's Note
Lyft is rolling out a new way for frequent riders to earn a small rebate on their everyday trips.
The company's new Lyft Cash Rewards program, launched today, lets users earn up to 5% back when they preload Lyft Cash onto their accounts.
But before you rush to load your balance, there are some important considerations to keep in mind.
How does the Lyft Cash Rewards program work?
Riders who turn on auto-reload can choose to top up their Lyft Cash balance in three tiers:
| Reload amount | Cash back | Additional perks |
|---|---|---|
$25 | 2% | N/A |
$50 | 4% | Two relaxed cancellation fees per month |
$100 | 5% | Two relaxed cancellation fees per month and two free XL upgrades per month |
Riders will earn cash back when they reload Lyft Cash, and the balance can be used toward future rides (excluding Wait & Save). A nice perk is that users can still earn points or miles with partners, such as Alaska Airlines, Bilt Rewards and Hilton Honors.
The program is free to join and can be combined with existing subscriptions like Lyft Pink, Lyft Business Rewards and Price Lock.
Uber One may offer better value for some riders. Those with eligible American Express cards, including most Delta SkyMiles cards and the American Express Platinum Card®, plus the Apple Card receive a complimentary Uber One membership.
The benefit lasts six to 12 months for those with an Apple or eligible Delta card. Delta cardmembers need to enroll by June 25, 2026.
Platinum Card members receive the benefit on an ongoing basis (up to $120 annually via $9.99 monthly statement credits; subject to auto-renewal), making Uber One a compelling alternative for those who split their ride-hailing transportation needs between platforms or are solely loyal to Uber.
The information for the Apple Card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Who is Lyft Cash Rewards best for?
For frequent riders who already spend regularly on Lyft rides, this could be a smart way to earn a little extra value back. This kind of program makes sense for riders who are confident they'll use the balance.
Unlike a savings or brokerage account, those funds won't earn interest while sitting in your Lyft wallet. Companies like Lyft and Starbucks use these models to hold customer cash, which can benefit their bottom line more than yours if you don't use their services regularly.
Which credit card should you use?
If you decide to reload, make sure you're paying with one of the best credit cards for ride-hailing services to maximize your earnings. Cards like the Bilt Mastercard®* and the Chase Sapphire Preferred® Card (see rates and fees) are strong options for earning bonus rewards on Lyft rides.
*Bilt Rewards must be set as your active Lyft loyalty partner, and you must make at least five eligible transactions on your card to earn bonus points.
The information for the Bilt Mastercard has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.
Who is eligible for the program?
Lyft Cash Rewards will first roll out to select riders nationwide, starting in San Francisco. Riders who've used Lyft for more than 10 years and who use the platform more frequently will be among the first to access the program.
Over time, Lyft plans to expand availability more broadly across the U.S. Those who want to be among the first to try the program can join the waitlist.
Bottom line
Lyft Cash Rewards can offer up to 5% back for frequent riders, which is a nice perk for those already committed to the platform. But for occasional riders or those who prefer to keep their funds flexible, the opportunity cost may outweigh the benefit.
Avoid preloading more than you'll realistically use, and make sure you're stacking rewards with your credit card and one of Lyft's loyalty program partners.
Related: 5 things to know before the next time you use a ride-hailing service at the airport