Nearly everyone uses rideshare apps like Uber an Lyft these days while traveling. It’s cheap, convenient, better than taxis and…you can earn points and miles with your credit card. Back in the day, LA cab drivers always gave me a hard time for paying with a credit card. Luckily, that’s not an issue with rideshare apps like Uber an Lyft. You simply type your credit card into the app, request a ride, and be on your merry way. But which credit card should you use to pay for Uber and Lyft rides? There are lots of options and it depends on your preferences:
1. Chase Sapphire Reserve – 3 points per $1
Charging Uber and Lyft rides to the Chase Sapphire Reserve has several advantages. These charges are classified as travel, so cardholders earn 3 points per $1, which can be redeemed at a rate of 1.5 cents each through the Ultimate Rewards Travel Portal. In addition, these charges qualify for the $300 annual travel credit. So not only can you earn a generous number of points for your Uber and Lyft spending, but you can off-set these charges completely with an automatic statement credit of up to $300 per year.
2. Chase Freedom Card – 5% cash back/5 points per $1 during promotional quarter
Every quarter, the Chase Freedom Card offers 5% cash back on the first $1,500 spent on select merchant categories. This quarter, the qualifying category includes local commuter transportation. Uber and Lyft are categorized as such, making this a great way to earn 5x rewards on rideshare expenses. You can convert your 5% cash back earnings to 5 Ultimate rewards points if you have another Ultimate Rewards earning credit card. Qualifying cards include the Sapphire Preferred, Sapphire Reserve, Ink Bold, and Ink Plus credit cards.
3. Citi ThankYou Premier Card – 3 points per $1
Like the Chase Sapphire Reserve card, the Citi ThankYou Premier card categorizes rideshare companies like Uber and Lyft as travel merchants that earn 3 points per $1 spent. Citi ThankYou points are pretty valuable thanks to a solid line-up of transfer partners and the ability to redeem points towards flights on American Airlines.
4. Discover It Miles Card – 3 miles per $1/3% cash back the first year
The Discover It Miles card is a credit card for Uber and Lyft charges because it earns 3 miles per $1 during the first year. These miles can be converted to 3% cash back via bank transfer or applied towards travel credits. The great thing about the Discover It Miles card isn’t just that it classifies Uber and Lyft as travel merchants, but that miles can be redeemed for any amount. So even a $5 Uber ride can be covered with 500 miles – there are no minimums like there are with cards like the Barclay Arrival Plus World Elite MasterCard.
5. Capital One Quicksilver and Quicksilver One Credit Card – 1.5% cash back
Not to be outdone by more popular credit cards, Capital One formed their own partnership with Uber. Through March 2017, Capital One Quicksilver and Quicksilver One Credit cardholders get $15 in Uber credit after paying for 9 rides with these credit cards. The best part is that these $15 credits roll over, so if your ride costs less than $15, the remaining balance can be applied to the next ride. On top of these, the Quicksilver cards from Capital One earn 1.5% cash back on all spending.
6. Amex EveryDay Preferred Card – 2 points per $1 spent
American Express has a partnership with Uber that allows eligible registered cardholders to redeem points and earn 2 Membership Rewards points per $1 spent on Uber rides. The reason the Amex EveryDay Preferred Card is the best option is because cardholders earn a 50% bonus when they make 30 or more purchases in a billing period.
7. Starwood Preferred Guest American Express Card or Starwood Preferred Guest Business Credit Card – 1 point per $1
While 1 SPG point per $1 doesn’t sound like much, it actually goes a long way. With the Starwood-Marriott merger coming to a close, SPG points have become more valuable than ever. With a favorable 1:3 transfer ratio, SPG points can be used to get amazing value out of Marriott Air + Hotel Awards or book top-tier Marriott and Ritz Carlton hotels at reasonable rates.
Earnings from the Starwood Preferred Guest credit cards can be maximized further thanks to Starwood’s partnership with Uber. SPG members who link their accounts currently earn 2-4 points per $1 spent on Uber rides during SPG stays and 1 point per $1 every day. On February 1, the earning rate drops to 2 points per $1 during SPG stays and 1 point per $2 every day.
8. Chase Sapphire Preferred – 2 points per $1
The Chase Sapphire Preferred doesn’t have much going for it anymore, but it does still earn 2 points per $1 on travel. Since both Uber and Lyft are categorized as travel merchants, they
qualify for this bonus.
9. Fidelity Rewards Visa Signature Card – 2% Cash Back
The Fidelity Rewards Visa Signature Card is a great option for those who want to earn a straight 2% cash back on all spending. This extends to Uber and Lyft , without paying an annual fee or worrying about minimum redemption requirements.
10. Club Carlson Credit Cards – 5 points per $1
The Club Carlson Premier and business cards both earn 5 points per $1 on all spending. Considering how easy Club Carlson makes it to earn free nights via credit card spending, using it to pay for Uber and Lyft rides can go along way.
That’s my take on the 10 best credit cards for Uber and Lyft rides. I’d love your take on this in the comment section.
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