Lyft Launches Rewards Program Offering Up to 10% Back on Rides
Uber has launched its credit card, it was only a matter of time before its main Lyft, ride-sharing rival,responded with something of its own.
Now, Lyft is launching a rewards program for business riders & offer up to 10% back on rides.
Sign up for a Lyft business profile first, if you don’t already have one, opt-in to the program via the app or through email. Lyft business profile allows for expensing to your company.
Next, you request a ride, make sure your app is set to “Business” mode, and from there everything will work the same as a normal Lyft ride, you’ll be able to earn Lyft credit.
The rewards are structured such as: For every 5 rides you take under your business profile, you’ll earn $5 in Lyft credit that will back into your personal account.
Note that each ride under your business profile will cost $10 or more to qualify.
If you took 5 rides at $10 each, for $50 total spent on Lyft & receive one $5 credit.
That’s a solid 10% return, but granted that percentage will drop the more your rides cost.
You’ll be capped at $100 in credits, although you’d have to take 100 rides to hit that cap.
To increase your earnings, make sure to use a travel rewards credit card such as Capital One Venture card & Chase Sapphire Reserve, which would earn you 2x or 3x points.
There isn’t any reason not to use your business profile for all your rides, therefore, you can earn credits.