- How Lyft Sign Up Bonuses Work For Drivers In 2023
- What is a 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
How Lyft Sign Up Bonuses Work For Drivers In 2023
Get extra cash by completing a set number of rides after joining Lyft, with bonuses tailored to city demand.
Bonuses can include fixed, incremental, or percentage-based bonuses to increase your initial earnings as a new Lyft driver.
New drivers must meet Lyft’s criteria and sign up through a referral to qualify for the sign-up bonus.
Maximize Your Income
Beyond the sign-up, leverage real-time demand, scheduled bonuses, and ride streaks to earn more with Lyft.
What is a Lyft Sign Up Bonus?
A Lyft sign up bonus is a promotional offer from Lyft that rewards new drivers with additional earnings once they complete a specified number of rides within a set time after joining.
This bonus varies by location and time of sign up, providing a significant boost to a driver’s initial income as an incentive to start driving with Lyft.
Lyft offers sign-up bonuses as an incentive to not only attract new drivers but also to encourage them to remain active on the platform after joining.
These bonuses serve as a financial boost, making the initial experience of driving with Lyft more rewarding and motivating drivers to continue beyond just the initial sign-up phase.
By providing this extra earning potential, Lyft aims to increase driver retention and reduce the number of drivers who might otherwise quit shortly after starting.
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.
What I’m Seeing Recently
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
Lyft’s sign-up bonuses are available to new drivers who sign up with Lyft for the first time and meet all driver requirements, including age, vehicle standards, and a clean driving record.
To actually qualify for the sign-up bonus, a new driver must sign up through a referrer on the Lyft driver app, which can be done by clicking on a referral link or entering a referral code like FILMSTREAMS.
After signing up, you’ll see the bonus amount offered in your city and the number of rides needed to qualify, typically within 30 days.
It’s worth noting that bonus amounts differ by city. For example, common promotions in major U.S. cities might require completing 125 rides in the first 30 days to receive a $1,000 bonus. After meeting the qualifications, the bonus is typically paid out within a week.
Remember, to maximize your eligibility for these bonuses, avoid using previously registered contact information and make sure to input the referral code during the sign-up process.
Also, keep in mind that there’s a cap on earnings from promotions — if you earn more than $2,000 in referral rewards in any 30-day period, Lyft may modify your eligibility.
Note Regarding Lyft Referral Codes
The Lyft referral code that you sign up with does not have any impact on the type or size of bonus. That is all determined by the Lyft team on a per-city basis, directly impacted by the current supply and demand of drivers in that city.
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
When applying for a Lyft sign-up bonus, it’s important to carefully review the terms and conditions to ensure you’re eligible and understand how the bonus operates. Key points to consider include:
- You must be a new driver with a valid driver’s license.
- The bonus typically applies to a limited number of rides and must be claimed within a specific time frame after signing up.
- Thoroughly read the fine print to avoid any misunderstandings about how to qualify for and retain your bonus.
For a smooth application process, remember to use a referral code, verify that you meet all driver and vehicle criteria, and be aware that the bonus may not be immediately reflected in your account.
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.