How to Earn and Redeem the MasterCard Lyft Benefit

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Earn and Redeem MasterCard Lyft Credit

Lyft recently announced an updated benefit for World and World Elite Mastercard holders: get $5 in Lyft credit every month you take 3 qualifying rides and pay with your World Elite Mastercard. I had a little trouble signing up at first so I thought a quick post explaining the process would be helpful. Also, my mom needed me to walk her through it step by step, so do a good deed and share this with the technologically challenged people in your life.

How to Earn and Redeem MasterCard Lyft Credit

  • First, you must make sure you have the newest version of the Lyft app
  • Enroll your Lyft account in the promotion.
  • Add your World Elite Mastercard as your default payment method
  • You’re all set!

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Each month that you take 3 rides, you’ll receive a $5 credit. You can keep track of your progress by simply clicking on the left navigation menu and at the top it will tell you how many rides you’ve completed so far.

Lyft Mastercard

Important Details

  • Rides only count for the calendar month, so it’s 5 rides required per calendar month. The ride tracker resets on the first of each month.
  • You can only earn one credit per month
  • An “Eligible Ride” is any Lyft ride types, excluding business rides and bicycle and scooter rental rides.
  • Valid only in the USA
  • Credits expire 30 days after they have been awarded. (To see your current credits and their expiration dates, tap the menu icon on the top left, and tap ‘Promos’)

Earn and Redeem Mastercard Lyft Credit

How to Use the Credit

Once you’ve earned the $5 credit, it will be automatically applied to the next ride you take with Lyft, so long as it hasn’t expired. (You can see this on the screenshot below.) This is amazing for me since I forget everything.

Earn and Redeem Mastercard Lyft Credit

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Thoughts

Considering the fact that there are several World Elite Mastercard versions with low to no annual fees, the value proposition is there. This is an awesome benefit worth up to $60 a year for anyone who regularly uses Lyft or Uber. Hopefully you can make use of it now that you know how to earn and redeem the MasterCard Lyft credit. If you really want to maximize your rewards you can pay with the Chase Freedom Flex since it’s a World Elite Mastercard and it earns 5x on Lyft currently.

Disclosure: Bougie Miles has partnered with CardRatings for our coverage of credit card products. Bougie Miles and CardRatings may receive a commission from card issuers. Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
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