- How Lyft Sign Up Bonuses Work For Drivers In 2024
- What is a Lyft Sign Up Bonus?
- How Much Is the Lyft Sign-Up Bonus?
- Types of Lyft Driver Signup Bonuses
- Eligibility Criteria for Lyft’s Sign Up Bonus
- How to Sign Up With a Lyft Referral Code
- Tips for a Smooth Application
- Maximizing Earnings with Lyft Bonuses
- Wrapping Up
How Lyft Sign Up Bonuses Work For Drivers In 2024
To stay competitive with rivals like Uber and Doordash, Lyft is offering new drivers sign-up bonuses. That’s why if you’re considering becoming a Lyft driver, this is the right time for you.
Depending on your location, you can get up to a $1,000 sign-up bonus as a new driver on Lyft. And if you’re an existing driver, you can earn up to $500 passive money with this sign-up promotion via referral.
Key Takeaways
- Lyft offers sign-up bonuses up to $2,000 for new drivers using referral codes.
- Bonuses vary by location and require completing a certain number of rides.
- Lyft’s referral program benefits both new drivers and those who refer them.
- Bonuses are structured as fixed amounts, incremental targets, or percentage-based rewards.
What is a Lyft Sign Up Bonus?
The Lyft sign-up bonus is a referral program that offers new drivers between $100 to $1,000 when they use a promo code from an existing driver at sign-up.
To earn it, you’ll have to complete a certain number of rides within a time frame specified by Lyft.
You can easily request this referral code from a friend or any Lyft driver you know. They’ll be glad to share because they’ll also earn when you use their code. There are official Lyft affiliate websites that offer a 100% valid referral code.
If you already drive for Lyft, you can earn using your Lyft referral code to invite people to sign up. Depending on your city, you’ll get up to $500 in commission for every driver who signs up using your code.
How Much Is the Lyft Sign-Up Bonus?
Lyft doesn’t list the exact sign-up bonus amount you’re going to get anywhere on its website because this bonus varies by location.
When you use an existing driver referral code or via a link, an amount will appear based on your location, even if the referral code is for a driver from another city.
For instance, say you’re in San Francisco, but you’ve signed up with a referral code from a driver in Austin.
The bonus amount in Austin is $500, but $1,000 in San Francisco—you’ll receive a sign-up bonus of $1,000 because you’re based in San Francisco.
Types of Lyft Driver Signup Bonuses
Lyft Driver Sign-Up Bonuses come in three varieties, each with its unique advantages:
1. Fixed Amount Bonuses:
These bonuses offer a clear, predetermined amount after completing a set number of rides within a certain time. They’re usually smaller than other bonuses but provide certainty and reassurance to new drivers.
The catch is, once you hit the target, the bonus doesn’t grow, regardless of any additional rides.
2. Incremental Ride-Target Bonuses
These motivate you to keep driving by giving bonuses at certain ride milestones. For instance, after your very first ride, you could receive a bonus, with further bonuses coming after 10, 20, and 40 rides, potentially adding up to a total bonus of $250.
3. Percentage-Based Bonuses
These bonuses are dynamic, adding a percentage to your earnings for a period. If you get a 20% bonus and make $1,000 in fares during your first month, that’s an extra $200.
But be aware, these bonuses depend on reaching set ride numbers; falling short means a smaller bonus.
To benefit from any bonus type, you must adhere to Lyft’s terms, like completing rides within the designated timeframe and staying within your sign-up region.
Brett’s Take: Thoughts From an Expert
Recently, I have seen Lyft move away from fixed-amount bonuses and offer a lot more sign up bonuses with incremental pay structures.
When they first started out, they needed as many drivers as possible. Now, however, an issue is driver retention – meaning they will offer a lot more bonuses that incentivize drivers to stay on the road.
Claiming a bonus is worthwhile, however, no matter what type you claim.
Eligibility Criteria for Lyft’s Sign Up Bonus
How to Sign Up With a Lyft Referral Code
Claiming a Lyft sign-up bonus involves a straightforward series of steps. Here’s a detailed guide to help you navigate the process:
Step 1: Get a Referral Code
The first step is to open our referral link.
Step 2: Verify Promotion
If you see a referral code in the URL, as well as a bonus amount on the screen, your bonus has been successfully unlocked.
Step 3: Enter a Phone Number
Enter your phone number and and then select next. If you for some reason would like to change the city you’re applying to, you can do so on the next page.
Step 4: Enter Basics Details
Enter basic details like your name, email, and city you’d like to drive in.
Step 5: Change City (Optional)
If you’d like to change the city, you can do so by simply entering the city name in the box.
Step 6: Notice Promotion Details (Optional)
Once a new city is selected, you will notice that the bonus amount has changed. As mentioned before, this is because every city has their own incentive structure.
Step 7: Verify Promo Code/Referral Code
Lastly, ensure that promo/referral code appears in the box. This is necessary to verify at this point, as Lyft cannot retroactively apply a referral code after you start driving.
We suggest taking a screenshot of this step during the application.
Step 8: Complete the Signup Process
Congratulations – your referral code has been successfully applied. Click submit and then finish the application and account verification process, and that’s all there is to it.
Tips for a Smooth Application
Brett’s Take: Thoughts From an Expert
It is worth noting that there can be a bit of a delay between when the bonus requirements are completed and when the payout actually occurs.
Sometimes bonuses are paid out immediately upon completion of the required number of rides, while other times there might be a slight delay, with the payout occurring at the end of the promotional period.
This is normal, and nothing to be concerned about. However, if there appears to be issues, you can reach out to Lyft support and they can help troubleshoot the issue.
I recommend keeping screenshots of the progress you make in working toward the bonus goal as a safeguard.
While overall, the system works as intended, I get emails from time to time that specific bonuses weren’t properly paid out.
Lyft has also been known to remove or updated bonuses offers randomly, which causes quite a bit of confusion among drivers.
The more documentation and information that you can provide to build a case as to why you think there’s an issue, the better chance you’ll have in solving the issue.
Maximizing Earnings with Lyft Bonuses
After you sign up and start driving with Lyft, you can boost your earnings beyond the initial sign-up bonus through various dynamic bonuses that Lyft offers based on demand:
- Real-Time Bonuses: When demand spikes, you can earn extra for rides given during these high-demand periods as notified in the app.
- Scheduled Bonuses: Plan your week with scheduled bonuses that are updated every Friday morning in the app, encouraging you to drive during busier times.
- Bonus Zones: Look for pink and purple zones on your app map. Drive into these areas, and you’ll earn additional bonuses for rides you complete starting in these zones.
- Ride Streaks: Earn more by accepting consecutive ride requests during peak hours and special events, which can be tracked in the app.
- Streak Zones: Start a ride in a designated Streak Zone and continue to accept rides to earn bonuses, without the need to stay within the zone for all rides.
- Ride Challenges: These are set goals, like completing a certain number of rides within a week, that come with additional bonus earnings.
Remember, these bonuses are optional but can significantly increase your earnings, and they’re a great way to stay motivated and continue driving after the initial sign-up period.
For the latest information on bonuses, keep an eye on your Lyft Driver app every Friday morning and watch for real-time updates directly on the map.
Brett’s Take: Thoughts From an Expert
To maximize earnings and efficiently meet bonus requirements, I suggest using strategies like setting destination filters to only accept rides within a certain radius.
This helps drivers to focus on short, quick rides to meet ride counts faster. Long rides pay more in the short-term, but try to think about how each ride counts toward the total goal you’re looking to hit.
After all, one of the biggest challenges of meeting the bonus criteria is giving the large amount of rides that are required.
Drivers in less busy areas or facing ride throttling as they near their goal may find it harder to complete the requirements in the allotted time.
Focusing on the short rides can potentially increase your chances and alleviate these issues.
Wrapping Up
Driving for Lyft is a great way to make extra cash with your personal car. However, most drivers lack motivation at the initial stage.
The Lyft sign-up bonus will incentivize you to get up and running during this period. As you commit to meeting Lyft’s ride requirements, you’ll also earn more for taking order after order.