It’s amazing to think how much ridesharing has changed the way people get around. Back in the day you’d need to rely on rental cars or taxis when traveling, while now you can get transportation around the globe within minutes using your smartphone.
Since Uber & Lyft spending is a significant expense for many, I wanted to write a post about the best credit cards for maximizing value with ridesharing companies. We’ve seen some credit card issuers form partnerships with the two ridesharing giants, so first I wanted to cover the special opportunities available with each company, and then talk about the best rewards available with ridesharing in general.
In this post:
American Express card benefits with Uber
American Express & Uber have an ongoing partnership, offering an Uber Cash benefit with select cards (enrollment required). Specifically:
- The Platinum Card® from American Express (review) offers an Uber Cash benefit of up to $200 per year — you receive a $15 credit per month, plus a $35 credit in December
- The American Express® Gold Card (review) offers an Uber Cash benefit of up to $120 per year — you receive a $10 credit per month
Chase card benefits with Lyft
Chase & Lyft have a partnership, offering bonus points for spending with Lyft. Currently this partnership is valid through March 2022, and you can earn the following rewards for spending with Lyft, with no caps:
- The Chase Sapphire Reserve® Card (review) offers 10x points on Lyft spending
- The Chase Sapphire Preferred® Card (review) offers 5x points on Lyft spending
- The Chase Freedom Unlimited® (review) offers 5x points on Lyft spending
- The Chase Freedom FlexSM Credit Card (review) offers 5x points on Lyft spending
- The Ink Business Preferred® Credit Card (review) offers 5x points on Lyft spending
- The Ink Business Cash® Credit Card (review) offers 5x points on Lyft spending
- The Ink Business Unlimited® Credit Card (review) offers 5x points on Lyft spending
On top of that, the Chase Sapphire Reserve offers a one year free Lyft Pink membership, and that also has to be activated by March 2022. Lyft Pink offers perks like 15% savings on rides, waived cancelation fees, and more. This has been a fantastic partnership, and I certainly hope that it’s extended beyond this spring.
Best personal cards for Uber & Lyft January 2022
Aside from the special partnerships that American Express and Chase have with ridesharing companies, let’s take a look at the personal credit cards that generally offer the best rewards on Uber & Lyft rides, whether you’re looking to earn points or cash back.
Below are my favorites, with the return on spending determined based on my valuation of points. In all cases, the cards offer the equivalent of at least a 3% return on Uber & Lyft purchases.
1. Chase Sapphire Reserve®
Reward for rideshare spending: 3x Chase Ultimate Rewards points (which I value at 5.1%)
Card annual fee: $550
Foreign transaction fees: none
The Chase Sapphire Reserve offers 3x points on all travel purchases, and that includes rideshares. This is a great card for Uber & Lyft spending globally.
Read a review of the Chase Sapphire Reserve, apply for the Chase Sapphire Reserve.
2. American Express® Green Card
Reward for rideshare spending: 3x Amex Membership Rewards points (which I value at 5.1%)
Card annual fee: $150
Foreign transaction fees: none
The Amex Green offers 3x points on all travel purchases, and that includes rideshares. That makes it the best Amex card for Uber & Lyft spending globally.
Read a review of the Amex Green, apply for the Amex Green.
3. Chase Sapphire Preferred® Card
Reward for rideshare spending: 2x Chase Ultimate Rewards points (which I value at 3.4%)
Card annual fee: $95
Foreign transaction fees: none
The Chase Sapphire Preferred offers 2x points on all travel purchases, and that includes rideshares. This is a great card for Uber & Lyft spending globally.
Read a review of the Chase Sapphire Preferred, apply for the Chase Sapphire Preferred.
4. Capital One Venture X Rewards Credit Card
Reward for rideshare spending: 2x Capital One Venture miles (which I value at 3.4%)
Card annual fee: $395
Foreign transaction fees: none
The Capital One Venture X offers 2x Venture miles on all purchases, so this isn’t even a bonus category, but rather just a very well rounded return on spending. Don’t be alarmed by the annual fee, as the card offers a $300 annual Capital One Travel credit plus 10,000 bonus anniversary miles.
Read a review of the Capital One Venture X, apply for the Capital One Venture X.
5. World of Hyatt Credit Card
Reward for rideshare spending: 2x World of Hyatt points (which I value at 3%)
Card annual fee: $95
Foreign transaction fees: none
The World of Hyatt Card offers 2x points on local transit and commuting, including ridesharing, so this card is a great option for Hyatt loyalists.
Read a review of the World of Hyatt Card, apply for the World of Hyatt Card.
6. Blue Cash Preferred® Card from American Express
Reward for rideshare spending: 3% cash back
Card annual fee: $0 introductory annual fee for the first year, then $95. (Rates & Fees)
Foreign transaction fees: 2.7% (Rates & Fees)
The Blue Cash Preferred offers 3% cash back on transit, which includes taxis, ridesharing, parking, tolls, trains, buses, and more. However, with the foreign transaction fees on the card, I’d only recommend using it for purchases in the United States.
Read a review of the Blue Cash Preferred, apply for the Blue Cash Preferred.
Best business cards for Uber & Lyft January 2022
Now that we’ve looked at the best personal credit cards for Uber & Lyft spending, let’s take a look at the most rewarding business cards.
1. Ink Business Preferred® Credit Card
Reward for rideshare spending: Up to 3x Chase Ultimate Rewards points (which I value at 5.1%)
Card annual fee: $95
Foreign transaction fees: none
The Ink Business Preferred offers 3x points on the first $150,000 spent in combined purchases every anniversary year on travel (including ridesharing), shipping purchases, internet, cable, and phone services, and advertising purchases made with social media sites and search engines. So within those limits this is a fantastic card for rideshare spending globally.
Read a review of the Ink Business Preferred, apply for the Ink Business Preferred.
2. The Blue Business® Plus Credit Card from American Express
Reward for rideshare spending: Up to 2x Amex Membership Rewards points (which I value at 3.4%)
Card annual fee: $0 (Rates & Fees)
Foreign transaction fees: 2.7% (Rates & Fees)
The Amex Blue Business Plus offers 2x Amex points on the first $50,000 spent every calendar year (1x points thereafter). The card has foreign transaction fees, so I’d only recommend using it for purchases in the United States.
Read a review of the Amex Blue Business Plus, apply for the Amex Blue Business Plus.
3. Capital One Spark Miles for Business
Reward for rideshare spending: 2x Capital One Spark miles (which I value at 3.4%)
Card annual fee: $95, waived the first year
Foreign transaction fees: none
The Capital One Spark Miles offers 2x Spark miles on all purchases, so this isn’t even a bonus category, but rather just a very well rounded return on spending.
Read a review of the Spark Miles for Business, apply for the Spark Miles for Business.
Bottom line
Many people spend a significant amount annually on ridesharing, so it’s worth making sure that you’re maximizing your rewards for your spending with Uber & Lyft.
There’s lots of value to be had with Amex’s partnership with Uber and Chase’s partnership with Lyft. Personally my strategy is to use the Uber credits on The Platinum Card® from American Express, and then I otherwise use my Chase Sapphire Reserve® for rideshare spending — I’m earning 10x points with Lyft through March 2022, and I’m earning 3x points with Uber.
What’s your credit card strategy for Uber & Lyft spending?
The following links will direct you to the rates and fees for mentioned American Express Cards. These include: Blue Cash Preferred® Card from American Express (Rates & Fees), and The Blue Business® Plus Credit Card from American Express (Rates & Fees).
Many incorrect comments in this article.
1. Value of points of various credit cards.
- Chase cards change value if you hold the Reserve card, so the lower cards points could be valued higher.
- Chase cards change value if you redeem through their rewards travel center.
- Amex points value is not what you claim. If you redeem through Amex travel center it requires many more points than Chase. Amex...
Many incorrect comments in this article.
1. Value of points of various credit cards.
- Chase cards change value if you hold the Reserve card, so the lower cards points could be valued higher.
- Chase cards change value if you redeem through their rewards travel center.
- Amex points value is not what you claim. If you redeem through Amex travel center it requires many more points than Chase. Amex point transfers to other airlines or hotels are not always 1:1 as Chase.
2. The Amex benefit for Uber is not what you claim. They do not give you all of the month's money at once. They divide it up into bits. Little discounts off of many trips. It's not really at face value.
3. There are other ways you can get a bigger return in cash on rideshare. Interesting these were not mentioned.
This is wrong. The best card for Lyft is a Mastercard, period. (For the first 3 rides per month, at least.)
You know you could at least bring up your previous advertorial sponsors.
Brex has x8 which is transferable miles or cash out at 8%.
Cardless Man Utd has x5, Celtics x7. Each at 5% or 7% cashback.
It's not like you didn't persuaded us to apply. It's more than fair to assume your readers actually applied and hold these one-time sponsorship cards.
As the Venture X says, What's in your wallet?
There's Citi merchant offers for Uber out now, $10 off up to 4 times, so using a Citi card with this offer is probably your best option after using up your monthly Amex stipend.
Idk how Brex isn’t included. Do you not consider it a credit card?
If you're paying so much for Uber rides that you can justify having a certain credit card set aside for them, maybe it's time to buy a car?
If I receive a monthly credit through the Amex Platinum card, can I use a different card for paying for the ride, respectively the price difference?
You should be able to much easier now than in the past. In the past if you didnt use the amex it wouldnt pick up your credit. Even today i dont want to risk it no amount of extra points is worth not getting your $15 credit but that said its much easier for the $15 to be auto-applied now meaning you can use a sapphire to cover the rest.
Should be able to, but note I don't think they just give you the money anymore. I think they apply small discounts to many rides that add up to the monthly amount.