Before you reach for your credit card to pay for your Uber, ask yourself if you’re getting the most cash back for your ride. The best credit cards for rideshare offer enhanced earnings for transit, which often includes Uber, Lyft, and lesser-known services.
We’ll explore your best credit card options, which also give increased earn rates for taxis and public transit, and show you how some of the most popular rideshare apps compare, so you can get the most out of your commute.
Key Takeaways
- Rideshare services like Uber and Lyft typically rely on credit cards for payment.
- The best credit cards for rideshare and taxis offer up to 5 points per $1 spent.
- Rideshare services are growing in popularity, but they lack regulations that can protect workers and customers.
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Best credit cards for rideshare
Many cash back credit cards offer increased returns on select spending categories. Rideshare might be listed as its own category or it might be included with transit or taxi services.
| Credit Card | Welcome Bonus | Earn Rate On Taxis And Rideshares | Annual Fee, Income Requirements | Apply Now |
|---|---|---|---|---|
| BMO eclipse Visa Infinite | Up to 70,000 bonus points (terms) | 5 points per $1 spent | * $120, first year free * $60K personal/100K household | Apply Now |
| RBC ION+ Visa | Up to 14,000 bonus points (terms) | 3 points per $1 spent | * $120, first year free * None | Apply Now |
| American Express Cobalt | Up to 15,000 bonus points (terms) | 2 points per $1 spent | * $191.88 * None | Apply Now |
| Tangerine Money-Back credit card | Earn an extra 10% cash back for the first 2 months, up to $1,000 spent (terms) | 2% cash back | * $0 * $12K personal | Apply Now |
| Scotiabank Momentum Visa Infinite | 10% cash back for the first 3 months | 2% cash back | * $120 , first year free * $60K personal/100K household | Apply Now |
| KOHO Everything Mastercard | after the first purchase | 2% cash back | * $144 * None | Apply Now |
BMO eclipse Visa Infinite
$150 GeniusCash + Exclusive: Up to $637 in value + 5x points on gas & groceries.*
GC: $150
The
Pros:
- Up to 70,000 bonus points
- Get a $50 anniversary lifestyle credit to spend however you want
- Up to 5 points per $1 spent on purchases
- 10% bonus points when you add an authorized user
- Save up to 7 cents per litre at Shell
Cons:
- Low point value of 0.67
- High income requirements of either $60,000 personal or $100,000 household
- Only includes six types of insurance
RBC Ion+ Visa
GC: $60
The RBC Ion+ Visa is a great commuter credit card for anyone, but students and young adults in particular. If you’re under 24 years old and have an RBC Advantage Banking Account for Students, RBC will waive the card’s annual fee.
You’ll earn 3 points per $1 spent on daily transit, EV charging, and rideshares, along with many other everyday purchases, like groceries, dining, food delivery, streaming, digital gaming, and recurring subscriptions. All other purchases earn you 1% back.
Pros:
- 21,000 Avion points on approval
- Annual fee rebate for students
- Save 3 cents per litre on fuel at Petro-Canada stations
Cons:
- Qualifies you for the Avion Premium membership level, which is not as flexible as the Elite level
- Limited insurance included
American Express Cobalt
×8 Award winner GC: $100
8x Award winner Although the
With an Amex Membership rewards point worth up to 2 cents each, it's a return of 4% on your travel and commuting expenses.
Pros:
- Best credit card in Canada
- Get up to 15,000 welcome bonus points
- Earn up to 5 points per $1 spent on purchases
- Four ways to redeem points for high value
- Ten types of insurance included
Cons:
- Lower acceptance as American Express
Tangerine Money-Back Mastercard
×1 Award winner GC: $120
1x Award winner Want to earn extra credit card rewards on your transit purchases for no annual fee? Then take a look at the
Pros:
- Earn an extra 10% cash back for the first two months, up to $1,000 spent
- 2% cash back on up to three categories of your choice
- 1.95% on balance transfers for six months
- No annual fee
Cons:
- Only earns 0.5% cash back on non-category purchases
- Limited insurance included
Scotia Momentum Visa Infinite
GC: $20
Our top rated cash back credit card, the
Pros:
- 10% cash back for the first three months, up to $2,000 in spend
- Up to 4% cash back on purchases
- 11 types of insurance included
Cons:
- High income requirements of $60,000 personal or $100,000 household
- Rewards only paid out once per year as a statement credit
KOHO Everything Mastercard
The
Plus, you can earn bonus rewards with KOHO PowerUps, pay no foreign exchange fees, and get one free international ATM withdrawal per month.
Pros:
- No credit check required
- Earn 4% on your balance
- No foreign exchange fees
Cons:
- Only earns 0.5% cash back on other purchases
- Does not improve your credit score
- No insurance included
What are rideshares
At first, rideshares might seem like any other taxi service, but they run on a completely different business model. Rideshares are apps that connect people looking for a ride with independent drivers while taxi drivers are hired by taxi companies, which are regulated and provide worker protections for their drivers.
Here’s how a rideshare trip works. You download a rideshare app like Uber or Lyft and request a pickup. A driver in the rideshare network takes the job and picks you up, taking you where you want to go. When you pay, the app gets a slice of your fee and the rest goes to the driver.
When you ride in a taxi, the fee goes to the taxi company which pays the driver (and maintains the taxi). Any tips you give to the driver are, of course, theirs to keep.
Rideshares have a lot going for them: they’re convenient to use and most apps have user-friendly interfaces. They’re also competitive – almost anyone can become a rideshare driver – so you’re sure to find quick service at prices that are competitive to taxis.
On the other hand, rideshares aren’t regulated, so they can base their pricing on current demand. For example, if there’s a huge event in town, rideshares can charge surge pricing, claiming that there are fewer drivers to meet an increased demand. Compare this to taxis, which always charge the same amount, no matter the time of day or demand.
The best rideshare options in Canada
If you’re new to ridesharing, check out some of the pros and cons of popular options.
| Rideshare | Pros | Cons | Google Play rating | App Store rating |
|---|---|---|---|---|
| Uber | * Widespread availability * Highly-rated app | * Difficulty with booking and cancellations * Poor TrustPilot rating | 4.4 | 4.9 |
| Lyft | * Widespread availability * Easy to use | * Poor TrustPilot ratings * Cancellation criticisms | 4.4 | 4.9 |
| Poparide | * Competitive pricing | * Driver cancellations * Poor customer service | 4.6 | 4.8 |
| Zoom Zoom | * User-friendly interface * Competitive rates | * Poor driver availability and customer response time | 4.1 | 4.6 |
| M-Rides | * Canadian rideshare option | * Dismal app rating * Reviewers note text scams | 1.2 | Not yet rated |
FAQ
Which credit card is best for rideshare?
We’d have to go with either the BMO eclipse Visa Infinite, which earns 5 points per $1 or the Amex Cobalt, which earns 2 points per $1, but has a higher rate of return on rewards.
Which credit card gives a discount on Uber?
There aren’t any credit cards that partner with Uber to give automatic discounts on rides. That’s why it’s so important to find a credit card that gives you the most cash back for your Uber trips.
Which credit card is best for Uber?
TD used to partner with Uber to provide Uber One membership, but they discontinued the promotion in 2024. So, any of the credit cards on our list are great options for Uber.
What are the benefits of a Mastercard for Lyft?
You may have seen World Mastercard Elite benefits tailored to Lyft users, but unfortunately, these are only for U.S. cardholders. Mastercard Canada does not have any current partnerships with Lyft.
Is the Uber Pro Card worth it in Canada?
According to Uber users on Reddit, most people don’t believe the Uber Pro Card is worth it. Users mentioned hidden fees, difficulty getting in touch with customer service, and caps on the cashback you can earn every month.
Is it safe to use a credit card in a taxi?
Credit card security has come a long way, making it a legitimate payment option. For peace of mind, check that the taxi’s card reader has a secure connection and use your card’s tap-to-pay feature instead of inserting it into the reader.
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