Chase Sapphire Reserve Cards — How To Use the $120 Lyft Credits and Benefits

Earlier this year, Chase announced a sweeping refresh of the personal version of the Chase Sapphire Reserve^®. As part of that news, it also announced the launch of the long-awaited Sapphire Reserve for Business℠. 

Both cards offer some of the best travel benefits a premium credit card can provide, including elevated earnings on a wide range of travel expenses, statement credits for travel, hotel benefits, and more. 

The Chase Sapphire Reserve card and the Chase Sapphire Reserve Business card both include benefits for the ride-sharing company Lyft, including an annual $120 statement credit with the platform, which is broken up into $10 monthly credits.

We’ll go over the nuts and bolts of using the credit, but first, let’s give a broad overview of the Chase Sapphire Reserve card and its business counterpart, the Chase Sapphire Reserve Business card. 

Overview of the Chase Sapphire Reserve Card and the Chase Sapphire Reserve Business Card

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Chase Sapphire Reserve^®

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

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Chase Sapphire Reserve^®

A top player in the high-end premium travel credit card space that earns points on travel and dining while offering top luxury perks.

Welcome Offer

Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.

125,000 points

UP's Offer Valuation*:

$2,500

Annual Fee

$795

APR

20.24% - 28.74% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Excellent

Why We Like This Card

If you’re looking for an all-around excellent travel rewards card, the Chase Sapphire Reserve^® is one of the best options.

The card combines elite travel benefits and perks like worldwide airport lounge access, with excellent point earning and redemption options. Plus, it offers top-notch travel insurance protections to cover you at home or on the road.

Don’t forget the more than $2,000 in annual credits, which can offset the annual fee!

Pros & Cons

Pros

• 8x points on all Chase Travel purchases
• 5x points on Lyft rides
• 4x points on flights and hotels booked directly

Cons

• $795 annual fee

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Card Highlights

• Earn 125,000 bonus points after you spend $6,000 on purchases in the first 3 months from account opening.
• Get more than $2,700 in annual value with Sapphire Reserve.
• Earn 8x points on all purchases through Chase Travel℠, including The Edit℠ and 4x points on flights and hotels booked direct. Plus, earn 3x points on dining worldwide & 1x points on all other purchases
• $300 annual travel credit as reimbursement for travel purchases charged to your card each account anniversary year.
• Access over 1,300 airport lounges worldwide with a complimentary Priority Pass™ Select membership, plus every Chase Sapphire Lounge^® by The Club with two guests. Plus, up to $120 towards Global Entry, NEXUS, or TSA PreCheck^® every 4 years
• Get up to $150 in statement credits every six months for a maximum of $300 annually for dining at restaurants that are part of Sapphire Reserve Exclusive Tables.
• Count on Trip Cancellation/Interruption Insurance, Auto Rental Coverage, Lost Luggage Insurance, no foreign transaction fees, and more.
• Get complimentary Apple TV+, the exclusive streaming home of Apple Originals. Plus Apple Music — all the music you love, across all your devices. Subscriptions run through 6/22/27 — a value of $250 annually
• Member FDIC

Financial Snapshot

• APR: 20.24% - 28.74% Variable
• Foreign Transaction Fees: None

Rewards Center

Chase Ultimate Rewards

The refreshed Chase Sapphire Reserve card includes heavy-hitting perks such as travel credits, statement credits at select merchants, lounge access, and, of course, higher earnings on categories such as travel:

• 8x points on all Chase Travel purchases for airline tickets, hotels (including The Edit), rental cars, cruises, activities, and tours
• 4x points on flights and hotels when booking directly
• 3x points on dining worldwide, including eligible delivery
• Up to $300 in statement credits for dining at restaurants that are part of the Sapphire Reserve Exclusive Tables program (up to $150 in statement credits from January through June and again from July through December)
• Complimentary Apple TV+ and Apple Music (through June 22, 2027); a value of $250 annually

Sapphire Reserve for Business℠

U.P. Rating 

The rating for this card has been determined by our own industry experts who know the ins and outs of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.

The Chase Sapphire Reserve for Business card is perfect for frequent traveler business owners who want premium perks.

Sapphire Reserve for Business℠

The Chase Sapphire Reserve for Business card is perfect for frequent traveler business owners who want premium perks.

Welcome Offer

Earn 200,000 bonus points after you spend $30,000 on purchases in your first 6 months from account opening.

200,000 points

UP's Offer Valuation*:

$4,000

Annual Fee

$795

APR

18.49% - 26.49% Variable

Credit Recommended

Upgraded Points credit ranges are a variation of FICO^®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.

Excellent

Why We Like This Card

The Chase Sapphire Reserve Business card is a great pick for business owners who can easily make use of the annual credits for travel, Google Workspace, ZipRecruiter, and more. Plus, it offers helpful bonus categories such as ad spend and offers access to over 1,300 airport lounges — including Chase Sapphire Lounges.

Pros & Cons

Pros

• 8x points on Chase Travel purchases
• 4x points on flights and hotels booked directly
• 3x points on advertising purchases made with social media sites and search engines (uncapped)

Cons

• $795 annual fee

Read Full Review

Card Highlights

• Earn 200,000 bonus points after you spend $30,000 on purchases in your first 6 months from account opening and with more than $2,500 in annual value, there's no competition.
• Earn 8x points on Chase Travel℠ for airline tickets, hotels, including The Edit℠, car rentals, cruises, activities and tours.
• Earn 5x total points on Lyft rides through 9/30/27.
• Earn 4x points on flights & hotels booked direct.
• Earn 3x points on social media & search engine advertising.
• Get the most flexible travel credit compared to any other card, with up to $300 in statement credits each anniversary year on travel purchases.
• Enjoy complimentary access to the Chase Sapphire Lounge^® by The Club network and Priority Pass™ Select membership. Two guests may accompany the Primary Cardmember to the lounges free of charge.
• Member FDIC

Financial Snapshot

• APR: 18.49% - 26.49% Variable
• Foreign Transaction Fees: None

Not to be outdone, the Chase Sapphire Reserve Business card offers an impressive lineup of benefits that will undoubtedly be appreciated by small business owners and established business owners alike:

• 8x points on Chase Travel purchases
• 4x points on flights and hotels when booking directly
• 3x points on advertising purchases made with social media sites and search engines
• Up to $400 annual ZipRecruiter credit, delivered in 2 separate $200 biannual credits
• Up to $200 annual Google Workspace credit
• Up to $100 Giftcards.com credit, delivered in 2 separate $50 biannual credits

Shared Benefits

Benefits and credits offered by both cards include:

• Trip cancellation and interruption insurance, auto rental coverage, and lost luggage reimbursement
• No foreign transaction fees
• Up to $500 credit for stays with The Edit (up to $250 in statement credits from January through June and again from July through December)
• $300 annual travel credit
• Up to $300 annually in monthly DoorDash credits and a complimentary DashPass membership worth $120 annually
• Global Entry, TSA PreCheck, or NEXUS fee credit up to $120 every 4 years
• Lounge access, including Chase Sapphire Lounge by The Club, Priority Pass, and select Air Canada Maple Leaf Lounges (when flying on a Star Alliance carrier)
• Complimentary IHG One Rewards Platinum Elite status through December 31, 2027
• 5x points on eligible Lyft rides
• $120 in annual Lyft in-app credits, available as up to $10 monthly

How To Get the Monthly $10 Lyft Credit

With the Chase Sapphire Reserve card or the Chase Sapphire Reserve Business card, you receive a $10 Lyft credit each month to use on Lyft purchases, up to $120 annually. The benefit lasts through September 30, 2027. The $10 Lyft credits can be used on Standard, Extra Comfort, XL, Black, and Black SUV bookings.

However, before you can use the credit, you’ll need to set your eligible Chase card as the default payment method for Lyft. To do this, first ensure that your Lyft app is up to date, then select the Payment tab. You’ll then select Personal in the Payment defaults section, ensure your Chase card is selected, and then save your changes.

You’ll see the credit post to your Lyft account on the first day of the month by 6 a.m. EST. You’ll want to use the credit in full each month — any unused credits will expire.

Keep in mind that the statement credits don’t apply to membership purchases like Lyft Pink. Additionally, you can’t use the credit on other categories, like taxes, tips, and gift card purchases.

You’ll see the credit automatically applied to eligible rides, but you can remove it if you wish. Note that this credit can’t be combined with other credits or discounts from Lyft, and any unused credits don’t roll over to the next month. Make sure to use them in full!

Earn 5x Points on Lyft Purchases

Chase has a longstanding partnership with Lyft, one of the world’s largest ride-sharing platforms. And the new up to $120 annual statement credit isn’t the only Lyft benefit you receive with either card.

Through September 30, 2027, you earn a whopping 5x points on Lyft purchases, including Lyft rides, bike and scooter rides, and subscription and membership products. Keep in mind that gift cards, car rentals, vehicle service centers, miscellaneous fees, and other Lyft products don’t earn the 5x points.

Final Thoughts

Both the Chase Sapphire Reserve card and the Chase Sapphire Reserve Business card are among the best credit cards for ride-sharing purchases. They not only earn 5x points on Lyft purchases (through September 30, 2027), but you can stack that with a monthly $10 credit to bring down your costs.

This should be an easy credit to take advantage of, whether you’re grabbing a Lyft to head to dinner, catching a ride to the airport, or running errands around town. If you’re new to Lyft, make sure to check out our guide to the best perks and benefits for Lyft passengers.