Pay for your Lyft rides with your SoFi Money account and earn 20% cash back, up to $1,000!

Disclosure: We may receive a commission for links on our blog. You don’t have to use our links, but we’re very appreciative when you do. Thanks again for your support, we hope you find our posts and information helpful! Learn more.

SoFi Money Account

If you don’t have a SoFi Money account, open one now!

SoFi is currently running a very lucrative referral program (use our referral link and get $25 for opening your account). Then you might also get an additional offer (we did!) for a $100 bonus for setting up two direct deposits of $500 or more. Between the two of us we’ve made nearly $1000 in bonuses and referrals!

See all of the details on how to make the most out of your SoFi accounts in our Making an Easy $300+ with SoFi Money, Invest, and Loan Referral Program | Make Up to $10,000 article!

SoFi’s Lyft Cash Back Promotion

Now that you’re all caught up on SoFi’s account bonuses and referral program (you did read the article above, right?!) let’s talk about a new promotion!

We were shocked and excited when we realized SoFi had released a new lucrative promotion. From now until 02/18/20 use your SoFi Money to pay for your Lyft rides and get 20% cash back!

Here’s SoFi’s Lyft Cash Back Promotion fine print to keep in mind:

• 20% cash back is on the quoted price only. It does not include fees, surcharges, or tips.

• Offer ends 2/18/20 11:59AM EST and your ride must be completed and processed before this date and time.

• You can earn a maximum of $1,000.

• Cash back can take up to 14 days (however, we’ve seen it deposited into our account by the end of the day).

Watch Your Balance

If you’re used to paying for Lyft rides with a credit card, switching to your SoFi Money account will be slightly different in that your account will be debited right away (luckily SoFi doens’t have any overdraft fees!) So, be sure to keep money in the account and check the balance before paying for your ride.

How We Pay for Lyft Rides

We often change our Lyft form of payment to match our needs or current promotion.

For five personal rides each month we use our World Elite Master Card to get a $10 Lyft credit. We limit these to low cost rides because there’s no minimum required for each ride and there’s no additional bonus for higher cost rides.

High value rides go on a credit card that we’re working at getting a minimum spend met in order to get a sign up bonus (like the Chase Ink Business Preferred).

Once the first two goals are met, we switch to a daily spend card that gives us the most bang for our buck, like the Marriott Bonvoy Brilliant.

However, as soon as we heard about the SoFi and Lyft partnership, we switched all of our rides over our SoFi account (with the exception of the five inexpensive rides that will still go on the World Elite Master Card each month).

Final Thoughts

Since Shannon uses Lyft for business, we’ve already earned $85 back on Lyft rides!