4 Best Credit Cards for Ride Sharing When Using Uber and Lyft
Gone are the days of fearing getting a ride from strangers. Technology has come a long way in recent years. With these advancements came the popularity of ride sharing using Uber and Lyft. You can call a company to have a stranger show up at your location. You pay them, and they’ll take you wherever you want to go. The best credit cards for ride sharing can help ensure that you don’t have to carry cash. We’re going to cover a few of these cards including an Uber credit card review below.
Best Credit Cards for Ride Sharing One: Wells Fargo Propel Card
The Propel credit card is an excellent addition to this list because it has large reward possibilities. You earn up to three times the points for dining in and for transit, including Lyft and Uber. Car rentals, fuel, airfare, hotel stays, and homestays earn you triple points. You get one point on everything else.
Every time you pay for your transit with this card, the rewards add up. For larger cities, this is huge. Taxis, buses, rideshare, and ride services all count. American Express is also widely recognized. This increases your chances to be able to pay for your transit with it. It also works all over the world!
No Annual Fee Fee and Generous Sign Up Bonus with the Wells Fargo Propel Card
There is no annual fee with this card, and this means all of the rewards you earn are profit. Additionally, you earn a bonus for spending $3,000 in the first three months. Do this, and you’ll earn 30,000 bonus points that are worth around $300. So this is worth it if it lines up with your normal spending habits.
Travel and auto insurance are also standard with the American Express Propel card. Book with your card, and you can get accident insurance. Auto rental insurance can save you some money when you’re on adventures as well. There are no foreign transaction fees either. This allows you to use your card anywhere in the world without additional fees.
You’ll get access to the Wells Fargo Go Far portal with this card. This is where you keep track of all of your rewards. It’s also where you redeem your points. Once you have enough, you can cash them in for travel, cash, and gift cards. You can get discounts on future travel through the portal.
One of the biggest drawbacks with this card is the credit score requirement. People have to have excellent credit to qualify. It also has a variable APR. If you miss a payment, it can fluctuate. You could potentially go from a reasonable interest rate up to 27.24-percent. If you don’t carry a balance, this isn’t bad. But if you do, it can add up quick.
The Wells Fargo Propel card is an excellent way to stack rewards by using transit services. If you live in an area with Uber and Lyft and you use them, you should check into this card.
Best Credit Cards for Ride Sharing Two: Uber Visa Signature
First up on our list of the best credit cards for ride sharing is the Uber Visa card. This card comes with a variety of features that make it perfect for services like Uber and Lyft. First up is the cash back opportunities. As one of the best credit cards for ride sharing, it offers one of the highest cash back rewards.
You’ll get four-percent cash back each time you use it for dining. It also offers three-percent cash back for hotels, airfare, Uber, online purchases, and streaming video and music. Finally, you get one-percent cash back on everything else.
Spend $500 in the first 90 days of having the card to get the $100 bonus. This works out to roughly $167 per month. You get rewards for spending up to $5,000 annual as well. You’ll earn a $50 bonus toward streaming services including Netflix, Sirus XM, Amazon Prime, and more.
This card also offers up to $600 in damage protection for your phone just for paying your bill with the card. There is no foreign transaction fee and no annual fee. This means that each reward you earn is profit. You can redeem your rewards for cash, gift cards, or Uber credits.
Cardholders also become eligible for the Uber Visa Signature benefits. You’ll get auto and travel insurance. It also comes with extended warranties on specific products. Cardholders are also eligible for hotel discounts when they travel along with other perks.
You also can earn even more rewards with Uber by using the Sears Shop Your Way program.
Best Credit Cards for Ride Sharing Three: Chase Sapphire Preferred Visa
Do you like to travel and earn bonus rewards for doing so? Maybe you find yourself using rideshare programs like Uber or Lyft. Either way, the Chase Sapphire Preferred can help you save. You’ll get double points for each travel and dining expense that you use your card for. This includes Uber, Lyft, airlines, and hotels.
You get one times the points for every other purchase. You’ll get 25-percent more points if you book your travel using the Chase portal. Also, you get a bonus for spending $4,000 in the first three months. You’ll earn 50,000 points for spending $1,333 per month for the first three months.
You do pay an annual fee of $95 for using the Chase Sapphire Preferred card. However, you won’t pay this fee for the first year that you have the card. This means that anything you earn in the first year is profit. So you don’t need to worry about offsetting the annual fee. Also, traveling a lot with this card makes it relatively easy to earn enough rewards to offset this fee.
You can redeem your points for gift cards, statement credits, merchandise, or travel. Chase allows you to transfer your points to airline and hotel partners at a 1:1 ratio. So this can help you pay less for your hotels or airlines each time that you travel with this card.
Cardholders gain access to several exclusive travel perks from this card. It gives you trip cancellation or interruption insurance, trip delay reimbursement, and baggage delay insurance. Also, you get primary rental car insurance, extended warranty protection, and purchase protection as well.
Best Credit Cards for Ride Sharing Four: American Express Platinum
The final card on our list is from American Express. You’ll get a $15 credit each month for Uber rides in the United States. Each December will automatically get you a $20 bonus credit for Uber. This card also rewards you with five times the points when you book airfare through the Amex Travel site. Cardholders get access to 1,200 airport lounges, TSA or Global Entry precheck credit, and $200 in airline fee credits annually.
Cardholders earn 60,000 bonus points when they spend $5,000 in the first three months. This works out to spending $1,667 per month. If you travel, you know that this is easy to hit that credit card sign up bonus. You can use these points to book travel, buy merchandise, redeem gift cards, and transfer to hotel or airline partners.
So You do receive a large $550 annual fee with this card. However, you can offset it if you travel smart. Each dollar you spend on eligible hotels or flights earns you five points per dollar. You do have to book through American Express’s travel portal to get this rate. Also, new perks include an annual $200 baggage fee credit at certain airlines and free Wi-Fi access.
Bottom Line With Finding the Best Credit Cards for Ride Sharing Using Uber and Lyft
Finally, researching and using the best credit cards for ride sharing can help save money. The cards come with several perks for cardholders that can save time and money. So each card we highlighted is great for Uber and Lyft uses and general travel. We invite you to take a look. You may just find your next travel credit card and save money each time you use Uber and Lyft ride share services.