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Lyft has introduced a new rewards program aimed at frequent riders, offering cash back incentives for those who preload funds onto their accounts. The Lyft Cash Rewards program, launched today, allows users to earn up to 5% back when they add Lyft Cash to their balance.
Riders can choose from three reload tiers: $25 for 2% cash back, $50 for 4% cash back plus two relaxed cancellation fees per month, and $100 for 5% cash back along with two relaxed cancellation fees and two free XL upgrades per month. The cash back earned can be used for future rides, though it excludes the Wait & Save option. Additionally, users can continue to earn points or miles with partners such as Alaska Airlines, Bilt Rewards, and Hilton Honors.
The program is free to join and can be combined with existing Lyft subscriptions like Lyft Pink, Lyft Business Rewards, and Price Lock. Lyft plans to initially roll out the program to select riders nationwide, starting in San Francisco. Early access will be given to those who have used Lyft for more than 10 years and who use the platform frequently. The company intends to expand the program more broadly across the United States over time, with a waitlist available for those interested in early participation.
