Lyft Teams Up With Chase to Offer Credit Card Ride-hailing Rewards

In a partnership with JPMorgan Chase & Co., Lyft will be offering extended rewards to Chase customers that use their credit cards to pay for Lyft rides.

Lyft said the partnership aims to attract and retain high value riders who travel often and use Lyft’s service frequently.

The new offer launches on January 13th and members of Chase’s Sapphire Reserve credit card will earn 10 rewards point on every dollar they spend on Lyft rides.

JPMorgan Chase on Wednesday also raised the price for its Chase Sapphire Reserve card by as much as $100 a year, according to the bank’s cardholder agreement.

The card now costs between $450 and $550 in annual fees.

Sapphire Reserve customers will also receive a free one-year membership of Lyft’s subscription service which at $19.99 a month offers savings on rides and other benefits.
Lyft said that data from Chase has revealed that Sapphire card holders use ride-hailing services at least once a week.
Members of other Chase credit card programs that include the company’s Sapphire Preferred, Sapphire, Ink Preferred, and Ink Plus line, will also receive an increase in rewards points for Lyft rides. The offers are valid until March 2022.

Disclaimer: We have no position in LYFT Inc. (NASDAQ: LYFT) and have not been compensated for this article.