Lyft is launching a new way for frequent travelers to earn small rebates on their everyday rides.
The company’s new Lyft Cash Rewards program launched today lets users earn up to 5% back when they preload Lyft Cash into their accounts.
But before you rush to top up your balance, there are some important considerations to keep in mind.
How does the Lyft Cash Rewards program work?
Passengers who turn on the automatic top-up feature can choose to top up their Lyft Cash balance in three levels:
| Recharge amount | cash back | Additional benefits |
|---|---|---|
| $25 | 2% | – |
| $50 | 4% | Two relaxed cancellation fees per month |
| $100 | 5% | Easy cancellation fees twice a month and free XL upgrades twice a month |
Riders will receive cash back when they top up Lyft Cash, with the balance available for future rides (excluding wait and save). A nice perk is that users can still earn points or miles through partners like Alaska Airlines, Bilt Rewards or Hilton Honors.
The program is free to join and can be combined with existing subscriptions like Lyft Pink, Lyft Business Rewards and Price Lock.
Uber One may offer better value for some riders. Holders of an eligible American Express card (including most Delta SkyMiles cards) American Express Platinum Card®and Apple Card comes with free Uber One membership.
This benefit lasts from 6 to 12 months for those with an Apple or eligible Delta card. Delta Card members need to register before June 25, 2026.
Platinum members have ongoing access to the service for up to $120 per year (with a $9.99 monthly bill credit that automatically renews), making Uber One an attractive option for those who split their rides between platforms or are loyal only to Uber.
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Who is Lyft Cash Rewards best for?
For frequent travelers who already spend a lot on Lyft, this might be a smart way to earn a little extra value. This type of plan makes sense for riders who are confident using balance.
Unlike a savings or brokerage account, these funds don’t earn interest while sitting in your Lyft wallet. Companies like Lyft and Starbucks use these models to hold customers’ cash, which is better for their bottom line than yours if you don’t use their service regularly.
Which credit card should you use?
If you decide to top up, make sure you pay with one of the best credit cards for ride-hailing services to maximize your earnings. cards like this Bilt MasterCard®* (see rates and fees) and Chase Sapphire Preferred® Card (see Rates & Fees) is a powerful option for earning rewards on Lyft rides.
*Bilt Rewards must be set up as your active Lyft loyalty partner and you must have at least five qualifying transactions on your card to earn bonus points. See Bilt Rewards and Benefits.
Who is eligible for the program?
Lyft Cash Rewards will roll out to select riders nationwide, starting in San Francisco. Riders who have used Lyft for more than 10 years and use the platform more frequently will be the first to access the program.
Over time, Lyft plans to expand service more broadly in the United States. Those who want to be among the first to try the program can join the waiting list.
bottom line
Lyft Cash Rewards can give frequent customers up to 5% back, which is a nice perk for those already on the platform. But for occasional riders or those who like to keep their finances flexible, the opportunity costs may outweigh the benefits.
Avoid preloading more than you actually use, and make sure you accrue rewards through your credit card and one of Lyft’s loyalty program partners.
Related: 5 things to know before using a ride-hailing service next time at the airport
For Birt Mastercard rates and fees, please click here.
To learn about Bilt Mastercard rewards and benefits, click here.
