How Lyft Chase Sapphire Reserve Benefits Work

Filed Under: Chase, Lyft
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Major changes were recently made to the Chase Sapphire Reserve® Card. The card’s annual fee has increased by $100, from $450 to $550, and the card has also received some new benefits, with both DoorDash and Lyft.

In this post I wanted to take an in-depth look at the new Chase Sapphire Reserve Lyft benefits, especially as these perks are now live.

Chase Sapphire Reserve Lyft Benefits

As of January 12, 2020, the Chase Sapphire Reserve has received two Lyft benefits — cardmembers earn 10x points on Lyft rides, and cardmembers receive a one-year Lyft Pink membership.

We’ve known that Chase has been struggling to make money with the Sapphire Reserve, so they clearly felt an annual fee hike was necessary. Then they wanted to add some benefits, though I think it’s safe to say that they’re probably paying very little for this.

After all, Chase has access to a lucrative customer base, so it’s logical that other companies would want to provide benefits to those members and pick up a majority of the cost.

So, how do the Chase Lyft benefits work?

Earn 10x points with Lyft

The Sapphire Reserve now offers 10x Ultimate Rewards points on all Lyft rides. As of now the 10x points on Lyft rides is marketed as being valid through March 2022, though personally I wouldn’t be surprised to see that extended (that’s purely speculation on my part).

That’s an incredible return on your rideshare spending, as I value Ultimate Rewards points at 1.7 cents each, meaning that’s a 17% return.

You’ll just have to pay with your card to automatically earn the 10x points. As a point of comparison, ordinarily the card earns 3x points on travel (which includes rideshares), so that means you’re earning more than 3x the usual points.

The ability to earn 10x points is completely independent of the Lyft Pink membership I’ll talk about below, so you can earn 10x points even if you don’t have Lyft Pink.

Receive a one year Lyft Pink membership

The Sapphire Reserve now offers a complimentary one year Lyft Pink membership. This is a one time benefit for each cardmember, so you can’t take advantage of it multiple times.

Lyft Pink ordinarily costs $19.99 per month, so that’s potentially up to a ~$240 value.

What are the perks of Lyft Pink?

Lyft Pink offers the following exclusive perks:

  • 15% off unlimited car rides — this includes all types of rides in the US, including Shared, Standard Lyft, Lyft XL, Lux Black XL, Lux, and Lux Black
  • Priority airport pickups — be matched to the closest driver at the airport
  • Relaxed cancellations — don’t pay fees for up to three cancelations made within 15 minutes each month
  • Waived lost and found fees — get the lost and found fee waived an unlimited number of times
  • Bikes and scooters — three 30 minute bike or scooter rides per month in select markets
  • Surprise offers — these can include seasonal discounts, premium mode discounts, and partnership offers

On the most basic level, if you spend at least ~$134 per month with Lyft then you’d breakeven on the Lyft Pink membership based on the 15% discount, compared to the retail cost (~$134 x 15% = ~$20).

How do you sign up for the Sapphire Reserve Lyft Pink benefit?

First you’ll want to make sure that you have a Lyft account, and set your Sapphire Reserve as your default payment card on the account.

Once that’s complete, sign up for your Chase Sapphire Reserve Lyft Pink membership at this link. You’ll be asked to verify some basic details, and then you’ll be brought to a page inviting you to activate your membership.

Once you click the “Activate for Free” link, your membership will be activated for a period of one year.

The reason you have to manually opt into this is so that you can delay taking advantage of the benefit if you’d like. It makes sense to be strategic about this, if you think you’ll get more value out of Lyft Pink at a later date.

Stack benefits for 30% off with Lyft

It’s pretty remarkable just how much of a “rebate” (in terms of cash and points) you can get between these two benefits. If you spend $100 with Lyft you’d receive:

  • 15% off with Lyft Pink, bringing the cost down to $85 (you only get Lyft Pink for a year, though)
  • 10x Ultimate Rewards points, which would get you 850 Ultimate Rewards points on that $85 of spending (I value those points at 1.7 cents each, so that’s a further ~$15 off)

Between those two opportunities, you’re looking at roughly 30% off Lyft rides, according to my points valuation.

Personally I used to use Uber, not because I have a reason for choosing Uber over Lyft, but rather out of habit. You can bet that this partnership has caused me to switch to Lyft, since 30% is huge savings.

Tip: earn Delta SkyMiles & Hilton Honors points as well

It gets even better than the above ~30% return on Lyft spending:

  • Hilton and Lyft have a partnership offering 3x Hilton Honors points per dollar spent on US Lyft private rides, and 2x Hilton Honors points per dollar spent on US Lyft shared rides, on up to $10,000 of spending per year
  • Delta and Lyft have a partnership offering 2x Delta SkyMiles per dollar spent on US airport rides and 1x Delta SkyMiles per dollar spent on all other US Lyft rides

You can take advantage of both of those partnerships in addition to all of the above. So if you’re earning an extra 3x Hilton points and an extra 1x Delta miles, I’d value that at an incremental 2.5-3% return. That’s even better!

What Lyft benefits do authorized users get?

It can be a good value to add authorized users to the Sapphire Reserve. The cost to do so is $75 per authorized user, and then you’ll earn 3x points for their dining and travel spending, and they can also receive a Priority Pass membership.

So, which of these new Lyft benefits apply to authorized users?

  • The primary cardmember will earn 10x points for Lyft rides charged to the cards of authorize users
  • Authorized users won’t get an additional Lyft Pink one year membership, but rather that’s limited to one time per primary account

Is the Chase Sapphire Reserve still worth it?

The Sapphire Reserve was almost universally considered to be worthwhile before the annual fee increase. The card offers:

  • A $300 annual travel credit
  • 3x points on dining and travel
  • A Priority Pass lounge membership
  • Car rental coverage, as well as valuable travel protection
  • The ability to redeem Ultimate Rewards points for 1.5 cents each towards travel purchases

But how does the math change with the annual fee having been increased by $100? That depends on how much you value the new DoorDash and Lyft benefits.

Personally I’ll definitely be coming out ahead in the next year, and I think that’s also the case for anyone who uses DoorDash and/or Lyft with any frequency. The big question is what benefits will be added long term for cardmembers.

I do believe the Sapphire Reserve is still one of the all around best travel rewards cards, assuming you live in a market where you can benefit from these new perks.

Read a full, updated review of the Chase Sapphire Reserve.

Bottom line

Hopefully the above is a useful rundown of the new Lyft perks being offered with the Sapphire Reserve. While the annual fee hike is a negative, I’ll definitely come out ahead in the first year.

Earning the equivalent of 30% back in rewards on Lyft rides is pretty incredible, between the 10x points and the Lyft Pink membership. And I think it’s a win-win, because Lyft will be poaching an Uber customer.

The much bigger challenge will be crunching the numbers on the value proposition of this card once the first year’s Lyft Pink membership is up, and crunching the numbers after March 2022 if the 10x points earning on Lyft ends.

How much value do you think you’ll get out of the Sapphire Reserve Lyft perks?

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Comments
  1. “ Authorized users won’t get an additional Lyft Pink one year membership, but rather that’s limited to one time per primary account.”

    But can an authorized user use the one time Lyft Pink membership instead of the primary cardholder? For my wife and me, the primary makes almost no use of rideshare apps, while the authorized user might do a couple trips a year.

  2. I think pumping signups after an announcement like this really sends the wrong message to Chase, even if it does save money in year 1. Think about it: their next annual report is going to look like people really appreciated their price hike.

  3. I live in DC area and sometimes take Uber or Lyft to go somewhere within the city. Like you, I don’t have a strong preference over one or the other. However, I always like to do a quick comparison on the price between the two apps before I place my request. 95% of the time I get a cheaper quote from Uber and the price differences are usually $2 or more. There were times that I got 20% off promo from Lyft but the final price would still be more expensive than what Uber quoted me without any discount. That’s just my experience, I used to use Lyft a lot in the beginning but now 9 out of 10 trips is with Uber mainly because of the price.

  4. Could you outline what we need to do to get the HH and DL points for the Lyft rides as well please!

  5. I’m wondering if this outweighs the Mastercard benefit. For someone who takes around 5-10 rides a month like myself, seems like taking the Mastercard benefit first makes sense.

  6. In every article I’ve seen, the 10X points specifically notes it is on “rides.” My guess is that this does not include scooters (which I don’t care about) or gift card purchases (which I do care about because I can give them to my kids). Any insights on the latter?

  7. @Alonzo – It depends on your spend. If you spend $59 in a month regardless of how many rides, you will get more than $10 in Ultimate Rewards @ 1.7 cents per. Even if your spend is less, I’d add the Chase Sapphire as your default payment and see if you can get Lyft Pink to stay on your account if you change back to MasterCard to get the 15% off.

  8. @Lucky – can you do a similar post for the DoorDash benefits? I understand these are available for the Sapphire Preferred, as well as Freedom and Slate cards as well

  9. I use Uber A LOT… But like you, out of habit. I’ll definitely switch over to Lyft as my primary and see if the service is up to par.

    I’m not excited about the $100 increase… but I just did some math… I ran a Quicken report, and I spent a little over $1,000 on Uber last year (2019). I project even more Uber/Lyft usage this year as I’ll be stepping up travel and I’ve moved to a downtown location where it’s more convenient to Uber/Lyft than drive.

    So, $1,000 x 10 Points = 10,000 points
    – I value my Chase Points at .015 ($150) WIN
    – You value them at .017 ($170) WIN WIN

    So… I’ll definitely make the switch to Lyft and not complain (Yet)

  10. I think what some are missing in their calculus of the value of the 10x Lyft category bonus is that the $0 AF Chase Freedom / Freedom Unlimited cards earn 5x at Lyft now. So your marginal benefit on the CSR is only an additional 5x, not the full 10x.

  11. Similar to the points raised by the post and by other commentators, I would be more receptive to this annual fee increase if the Lyft benefit is permanent. It has an end date, and therefore, can only be a temporary benefit, at best.

    Not sure why Chase is keeping Lyft Pink for a short time; hope to drive initial signup? Hope current customers remain after fee increase?

  12. Frank:

    I see your point about the extra chase points possibly outweighing the world Mastercard elite benefit. However, one caveat to your math. You are assuming zero points earning with MC. I earn 3 TYP with my Premier, and I value TYP roughly similar to UR. The difference for me is 7 pts per $, which makes $84 the break even point. If I expect to use it more than 5x per month, I’ll put the first 5 rides on the Premier.

    Another couple things to mention. When looking at Uber versus Lyft, with Uber I have often been able to get gift cards at 10-20% off. Lyft is on Rakuten, so you can get 25 Amex points per ride. You can also get Samsung reward points for Lyft rides, for whatever those are worth.

  13. @NK – You are correct on the problem with my math. One more thing to consider is the different basis for the reward. Since the MasterCard benefit is trip based and the Chase benefit is spend based, if you have some advance knowledge of what trips you will make, it would make sense to put your shortest/cheapest 5 on MC and the rest on CSR.

  14. Wonder if you have to max out the $300 travel credit first before earning the 10X on Lyft since you do not earn UR points on the reimbursement.

  15. @Lucas: “95% of the time I get a cheaper quote from Uber”

    Hmm, I find that Lyft is usually cheaper. But I don’t use either of them enough to make a systematic comparison.

  16. “We’ve known that Chase has been struggling to make money with the Sapphire Reserve…”

    That is just silly and nonsensical. Without a clue about how the world of high stakes banking works, travel bloggers decided to spread ad repeat the canard that “Chase has been struggling to make money with the CSR.” For Chase and the banking industry that’s news, because since its launch the CSR has been an unprecedented success story – so successful, in fact, that all the major card issuers have been trying to replicate the model (attract and retain more than 90% of those who get the card, a large proportion of which have been of the much coveted ‘millennial’ demographic)!

  17. @DCS

    You are correct…

    A close friend who worked at AMEX in their NYC office up until recently developing new products and overhauling others… They are struggling to try and keep up with CSR. His words…

    No one is super happy about the yearly fee going up… But there are a TON of reasons to raise it that have nothing to do with it losing money or not. Bloggers just don’t think outside “their” box.

  18. Meanwhile, for those of us not living in DCS’ BizarroWorld:

    In December JPMorgan Chase Co. (JPM) announced that its profits for the fourth quarter would be lower than anticipated, from $500 million down to $300 million, owing to the rewards program included with its coveted Chase Sapphire Reserve credit card, which has been available since mid-2016. The credit card, as with many other rewards cards on the market today, offers point-based bonuses to users for spending particular amounts of money within a given time frame.

    The high earners who get the Reserve don’t run a monthly balance.

  19. Lyft may try to position itself as the more premium service in comparison to Uber. That is fine, sure, but usually Lyft will be a tiny bit more expensive than Uber without that I would be aware of Lyft paying drivers better than Uber does. I feel this may become a wash earlier or later?

  20. Between doordash benefits and lyft benefits, I’m definitely pleased. Use uber and uber eats a lot, but I’ll be switching with these benefits. They make up the $100 increase for my usage. I do hope they make these permanent though. Putting a time limit doesn’t make sense.

  21. Credit card issuers play the “long game.” Claims of “losing money” or “struggling to make money” after just a few short years on a credit card that has a customer retention rate of better 90% is travel blogosphere mindlessness. Chase is exhilarated with what they have been able to accomplish with the CSR because, again, they are playing the long game. Today’s millennials that they’ve picked up, will be tomorrow’s corporate leaders. In the long run, it is an unbeatable strategy and that is why the other CC issuers have been working so hard “to be just like the CSR”!

  22. I, too, have always used Uber out of habit, but will now certainly move to Lyft given the new value proposition. My question concerns establishing something akin to Uber’s family account. Despite my newby attempts at navigating the options, I don’t see where this sort of consolidated user payment plan is available with Lyft. Can anyone help here?

  23. So what happens after the 2 years of these lyft and door dash credit? Chase will still want their 550 a year right? What will we get as customer? All this fluff just to raise the annual fee from chase is weak.

  24. Relaxed cancellation benefit is based on rebooking in 15 after cancelling. Not about when you cancel after requesting.

  25. I found where to add Delta skymiles and Hilton, under promos/settings. Perfect! I would love more opportunities to combine csr and delta miles.

  26. One thing to note is if you have Lyft Pink it can’t be combined with any other promos, and I don’t know if you can even get the 10, 25, 30, even 50% promos that I’ve been getting occasionally (I don’t use rideshare much unless traveling).

    Also the priority airport pickups only applies to standard Lyft, not Shared.

    Thought the 3 free bike/scooter rides a month benefit could be interesting if you live in an eligible area.

  27. I would add you can further stack benefits by using the freebird (variable, but works out to beween .50- $1 per ride) and pei (1%) apps to get cash back on those lyft rides.

  28. Quick question – if you sign up for PINK do you only get the 15% off promotion all the time or are you still eligible for the 50% offerings they sometimes send?

  29. FYI – I had to reenter my CSR info in the app for the LyftPink offer to activate. My payment method now shows as “Sapphire Reserve xxxx/10x total points with Chase” whereas before it was just “VISA -xxxx.”

  30. Why does Lyft need the password to my Hilton Honors account? (Credit cards don’t need passwords to credit miles). Also it seems the Lyft app is always ‘on’ so they can track your location always unless you say ‘never’ and change it only when requesting a ride.

  31. Yeah, but it won’t benefit those who have a car and drive everywhere. Why would I need Lyft? Doordash seems okay, but is the free deliveries worth it if you only get $60 worth of food? Probably not. If it’s really 1:1 pricing (restaurant and DoorDash) then I’d call it a break even. Sure, I wait longer for food and save some cents on gas and time to and from the place, so that’s why it’s only for 1 year.

    Gotta value time and gas as the money for ordering DoorDash to get the $20 per month “freebie”, but it only counts for those who don’t cook much, again.

    So, if you only drive everywhere, and cook at home, these benefits aren’t that, and the $100 price hike is for nothing. RIP to them.

  32. If I add CSR card as payment card in multiple Lyft accounts, how do the benefits work? Can all account get x10 points? Can only one account (the first one added with CSR) get Lyft Pink? Thanks!

  33. Lyft Pink also stacks with the winter SoFi rebate. So, you can get north of 30% cash savings before switching default payment back to CSR when the SoFi promo ends. Guessing your Chase affiliate agreement precludes you from mentioning that, but I can say it. 😉

  34. Interested in the question from @tda re: authorized users being allowed to use the one-time registration in lieu of the primary.

    Or, other possibility: Ie, can person A have the CSR and input their card on person B’s Lyft app, giving B the option to have the Lyft membership?

  35. Like @Lucas, I’m DC based and have used Uber out of habit, and it seems to always be a little cheaper. I Uber around the city a bunch for work too. I switched to Lyft on Tuesday and have taken 4 rides, and have been upgraded to Lyft Lux for one of those. I don’t own a car so my Uber bill (for work and personal) is roughly $600/month. I’m looking at an extra 60K chase points (three nights at the Alila Seminyak in Bali next year) for doing what I normally do. If you aren’t a big ride share user, I get why the benefit is meh. But for others it looks to pretty good.

  36. Just curious; do you get the 10x by just paying w/ Sapphire Reserve or do you have to be a Pink member? This is in case you want to delay your (12-month) Pink membership to a later time.

  37. i already get 20-25% off my rides anyways by having a normal lyft rating. so this 15% off will not apply, the other perks are terrible, even with the return of 10x points uber is still cheaper in DFW 9 times out of 10 and its more availible so less wait times, so no need to use more expense lyft because i get 7x more points than on uber. Plus im sure a lot of readers have the CSR and AmexPlat so the first $15 on rideshare is free every month on the platinum. Im burning my chase points and booking good redemptions because i see no reason to keep this card now that other cards have caught up on the 3x on dining.

  38. The authorized user can sign up with the Lyft Pink membership. Doesn’t have to be the primary card holder.

  39. “Relaxed cancellations — don’t pay fees for up to three cancelations made within 15 minutes each month”

    Copy and paste from your previous post. Equally as wrong. (see graphic below)

  40. I am getting a message that the program is not available. There was no way to enter my info. Is it over?

  41. @ Ben — Thanks for the post. Although I try to avoid Lyft, I do use them when the price is more than 15% less than uber. I had assumed it was either Delta miles or Hilton points for earnings. I will be linking my Hilton and Lyft accounts ASAP!

    And that CSR is NOT worth it. Off my list. I’d rather get a United 100k bonus if I could ever get below 5/24 (not likely anytime soon).

  42. As others have mentioned, I live in NYC and at least 50% of the time i get a promo from Lyft for 25% or 50% off my next 10 rides. This is NOT on top of Lyft Pink 15% off (i confirmed that earlier today- i.e., even though i had the 50% off promo in my account it wasn’t applied to the ride- only the 15%). So you are losing XX amount of dollars per month as a result of that which offset the gains somewhat.

  43. @tda – I can confirm that authorized user can get Lyft pink mebership in their account instead of the primary card holder. I am an authorized user on my wife’s sapphire reserve and successfully activated Lyft pink in my account.

    Lucky, probably good update the post with this info.

  44. Ben, you explained that Lyft does not apply to Authorized Users. What about Door-dash? Perhaps you can write about what an Authorized User gets with the Sapphire Reserve Card vs the Primary holder.

  45. I’m in until my next renewal, but will then do some serious reconsidering about keeping the card. Lyft means nothing to me and the pink is only for a year anyway. Door Dash I can force myself to use a time or two to burn up the $60, but I personally don’t like my food to be out of the kitchen for 30 minutes to an hour before I get it on my table. My vote is negative to the increase and supposed benefits.

  46. What if I canceled my insurance. Sold my car and used lyft everyday. I would have 200k points a year at least haha.

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