New Chase / Lyft Benefits: up to 10X Ultimate Rewards for Rides and More
Yesterday, I wrote this post:
I can tell you that since publishing that, corroborating info has definitively confirmed the increase of the Chase Sapphire Reserve‘s annual fee (to $550 a year) and all but definitively confirmed it will happen on January 12, 2020.
Today, Lyft themselves confirmed a new feature across Chase cards: earning up to 10x bonus Chase Ultimate Rewards points per dollar spent on Lyft rides. The Reserve, with its new fee, fares best with the whopping 10X Ultimate Rewards for Lyft rides. I value Chase Ultimate Rewards points as being worth 1.75 cents each, meaning this is an effective (approximate) 17.5% rebate on Lyft spend on top of the 15% off a Chase Sapphire Reserve cardholder will get with the new free Lyft Pink membership (see below).
The Lyft blog breaks down the Chase / Lyft benefits as follows:
10x total Chase Ultimate Rewards points on Lyft Rides
1 year of complimentary Lyft Pink membership per account (business profile is not eligible)
5x total Chase Ultimate Rewards points on Lyft Rides
Note that all of these earning rates are instead of the default category rate on the card, meaning that you would get 10X on the Chase Sapphire Reserve instead of the 3X on all travel.
These benefits are scheduled through March 2022.
You can find credit cards that best match your spending habits and bonus categories at Your Best Credit Cards.
New to all of this? My “introduction to miles and points” book, MilesTalk: Live Your Wildest Travel Dreams Using Miles and Points is available on Amazon and at major booksellers.