Chase Cards Will Receive 5x or 10x on All Lyft Rides (CSR – 10x and Pink; Ink, Sapphire, Freedom – 5x)

Lyft has announced that beginning January 12, 2020, many Chase cards will receive either 5x or 10x on all Lyft spend.

Direct Link to offer

  • Chase Sapphire Preferred, Chase Freedom, Freedom Unlimited, Freedom Student and Ink cardmembers will receive 5x total Ultimate Rewards points or 5% cash back on Lyft rides.
  • Chase Sapphire Reserve cardmembers will earn 10x total points on Lyft rides. Plus, each account will get one free year of Lyft Pink.

These bonus rates will continue through March 2022. The wording indicates that the 5x is NOT in addition to regular rewards, it’s 5x/10x total. It also indicates that the Lyft Pink membership for Sapphire Reserve cardholders is a one-year benefit, not an ongoing benefit.

Benefits by card: 

Chase Sapphire Reserve: 

  • 10x total points on Lyft Rides

  • 1 year of complimentary Lyft Pink membership per account (business profile is not eligible)

Chase Sapphire Preferred, Sapphire, Ink Preferred, and Ink Plus: 

  • 5x total points on Lyft Rides

Chase Freedom, Student, and Unlimited: 

  • 5% total cash back on Lyft rides

Chase Ink, Cash, Business, and Unlimited:

  • 5% total cash back on Lyft rides

Chase also introduced a new Doordash benefit on the Reserve and other cards. We reported yesterday on all of the upcoming changes to the Sapphire Reserve which includes the fee increase from $450 to $550 and these Lyft and Doordash benefits.

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AnotherLump
AnotherLump

Do Lyft GCs code as 10x? What if you buy Lyft GCs using travel credit? Normally you would not earn 3x on spend rebated from travel credit, but in this case would you still get 7x?

arshi007
arshi007

Well, this certainly is interesting. I don’t have a CSR but i have the Freedom, FU and Ink Plus and all of them show 5x on Lyft.
I usually take Uber first (to burn my 15 dollar AmEx Plat credit) but now will be taking Lyft also more often.

toddo
toddo

so my CSR annual fee went up $100 permanently for 1 year of Pink & 2 years of 10x Lyft ride? WTF

Elise
Elise

I barely use ridesharing anymore after moving to NYC, but the 3 free bike rides may be useful (only in warmer months though).

Brandon
Brandon

I appreciate your efforts in post even if they don’t benefit me. When they don’t, there’s no need for me to comment it is not useful to me. I hope others will follow this model. Thanks DoC

Bill
Bill

I don’t understand the need of people to complain about others posting their opinion on these benefits. I could understand maybe if the benefits were just added to a card and nothing was taken away or changed with the product otherwise. However, these benefits are coming with a $100 in the annual fee so people should certainly be entitled to voice their opinion about how they value the benefits. Otherwise the comments would just be a Chase cheer leading section.

Kid Kredit
Kid Kredit

A lot of griping here, for what looks like added value. I understand that this wont work for everyone, and it wont off-set the impending $100 increase in AF, but I looked at my own spending, and in 2019 I spent $400 on Lyft. That equates to 4000 points. Given that I would have earned 3 points per dollar with the CSR, the differential is 2800 points, which at 1.5 cpp comes out to $42 of annual added value. The Lyft Pink reduces the overall cost, but just around the edges. If this is all Chase does to offset the AF increase, I will add myself to the list of gripers. But for now, I am optimistic. Let’s see what Chase does here.

JM
JM

I have a similar profile. I spent roughly 500 on Lyft last year and combine that with the doordash credits and I’m breaking even, not making a profit. Haven’t ordered delivery in years from any service but hoping that I can make pickup work to max out the credit.

Bill
Bill

Just be careful with those online restaurant delivery services.I have noticed some restaurants have a tendency to jack up the cost of their menu items on those services compared to what you would pay if you ordered from the restaurant directly.

Paul
Paul

CSR is a card built for travel and dining. So I guess it kind of makes sense they are adding Lyft and DoorDash benefits. Too bad they’re raising AF by $100 though. I am guessing Chase is not dumb and making these changes based upon user data and spending patterns.

Bill
Bill

I used to use the CSR a lot for travel. The problem is my travel is heavily international and Lyft is not international. I would be much more excited if they offered this deal with Uber.

Gus
Gus

Seems like I’m in the minority, but this is great news. Based on my current annual Lyft ridership, the extra 7 points per dollar will result in the equivalent of a free night at Hyatt per year. I’m ok with paying an extra $100/year in annual fee for that.

toddo
toddo

Back to 3x on 3/22. But your annual fee remains $550

Gus
Gus

More of a guaranty than we have with most credit card perks. And a longer commitment than I am making to them by paying an annual fee. So doesn’t bother me at all. I re-evaluate which cards to keep, sock drawer, and terminate annually based on what the cards cost/offer, but also based on my upcoming travel plans and the amount of the various currencies that I have in my accounts.

Abstract15
Abstract15

Already getting 20% cash back with Lyft until 2/18/20 with SoFi.

After that, as a CSP holder, seems to make more sense to use the Uber 5% off $100 Uber cash reloads using 3% travel from Citi Premier.

LAG
LAG

$100 x 95% = $95 x 3% TYP = $2.85 x 1.7 (TPG $/pt) = $4.845; means $9.845 total discount or $90.16 price for $100 travel…
vs $100 x 5% UR = 5 x 2 (TPG $/pt) = $10 savings = $90 price for $100 travel

Seems marginal at best… main benefit seems to be that you save $5 cash vs locking up value in UR, but considering uber is usually more expensive than lyft I don’t know that I’d consider that $5 cash saved either, but to each their own.

Abstract15
Abstract15

Thanks for the analysis!

Perhaps I’ll just pick whichever is cheaper at the time.

Staradmiral
Staradmiral

I have a car. I don’t drink. maybe once a year i take it to the airport instead of parking if it’s a long trip. USELESS

Larson
Larson

Oh no! So sorry. Hopefully the next deal Doc posts is to your liking!