Are Uber & Lyft Ripping You Off?
Consumer Reports performed a detailed investigation on two popular rideshare apps and explained how pricing tactics could be affecting you.
174 volunteers tested over 40 different routes in 17 states by comparing prices (but not booking) Uber and Lyft rides.
The results?
The median difference between lowest and highest pricing for routes tested was over 42%.
That's fancy terminology for saying that different riders requesting the same ride at nearly the same time often received substantially different prices.
One rider could get quoted for $40, and another ride may receive a price for $57.
The report also “found that 12.4% of all advertised discounts appeared to be fake.”
Uber and Lyft didn’t agree with the study and said that no two trips on their platforms can be identical.
Both rideshare apps have hundreds of patents and proprietary algorithms tied to their systems and software.
So, what can you do to help fight back about unclear pricing from Uber and Lyft?
1️⃣ Compare Prices
Check Uber, then check Lyft, and see which company has the better price.
A little game of cat and mouse, aye?
2️⃣ Use Credits
Some cards offer monthly credits that can help offset rideshare costs.
Definitely makes that airport ride or night out with friends a little more manageable.
3️⃣ Stack Earnings
Many top issuers frequently offer cash back (or points) for rideshare apps.
We just came across this 10X back on Lyft in our Capital One offers for example:
4️⃣ Alternative Options
Taxis in some major cities have more guaranteed pricing, typically time and distance-based.
Many foreign cities outside the US even have their own rideshare apps - so do a quick search for the country you are visiting to see which app is the most popular there.