I don’t do these types of posts very often because I don’t think there’s much value added in telling you about sign-up bonuses. But this one is something that I’m sure a lot of you will be able to take advantage of. Over the past couple months, I’ve received a ton of e-mails from Lyft drivers wanting to try out Uber and maximize their sign-up bonus. Most of you know that Uber has been offering $500 to Lyft drivers for a while now but this offer was generally only available to drivers with at least a few months experience with Lyft.
I actually took advantage of this offer right when I started driving and it was the easiest $500 I ever made. And yes you really do get $500 after you complete 20 trips. It’s a great deal and an easy way to make some quick cash but you have to make sure that you meet all the qualifications.
Uber’s latest promotion offers rideshare drivers from any platform $500 as long as they have given 5 rides or more before 11/1/14. So unless you signed up to drive in the last couple weeks, you should be eligible for this bonus (if you aren’t with UberX already).
Why Haven’t You Signed Up For Uber Yet?
I don’t see this too much with Uber drivers but it seems like there are still a lot of Lyft loyalists out there who refuse to sign up with Uber. But what you have to remember is that as a rideshare driver you are now running your own business. Lyft and Uber have both made it explicitly clear that you are not an employee and while it’s perfectly fine to prefer driving for one service over the other, it just doesn’t make sense to not sign up for both services.
Any smart business owner will tell you that the key to success is diversifying your income streams. You never want to depend on just one source of income because then you are at the mercy of someone else. And it looks like drivers are doing just that.
In an article published on the Sherpa Blog, Ryder Pearce tells us that, “Today, over half of our drivers drive for both Lyft and Uber. That number is increasing every week, we even see increasing crossover with other on-demand services, such as Postmates and TaskRabbit too.”
Hedging Your Bets
I actually started off driving for Lyft and prefer them in general. But the only problem is that I get way more requests and make way more money with Uber. Add in some of the troubles Lyft has been having lately and for me, for now, it makes the most sense to drive for Uber. But things can change very quickly in the world of rideshare and what’s best for you and your business today might not hold true tomorrow.
Related Article: Is The Downfall of Lyft Imminent?
We’ve already seen Lyft pull out of certain markets like Houston and at some point, Uber may stop accepting new drivers. So it makes a lot of sense to take a pro-active approach and sign up for Uber as a back-up even if you never end up using them. Like I said, you don’t want to depend on just one source of income and it’s always best to be prepared for the worst, but hope for the best.
Frequently Asked Questions:
- If I already signed up with UberX but no longer drive for them can I get this promotion again?
- No this promotion is only eligible to new drivers who have never driven for Uber before. You could try with another phone number but Uber will most likely not give you another sign-up bonus.
- How long does it take to receive the bonus?
- Once you hit 20 rides (rides must all be given within the first month), you should receive your bonus on the following week’s paycheck. I would make sure you do a few rides over 20 though just in case.
- Can I get this bonus if I’ve already signed up for UberX but haven’t given a ride yet?
- Maybe. Uber used to be a little more lenient with these types of issues but lately their policies have gotten a bit more strict.
- Are there any other current sign-up bonus offers available for new drivers?
- Is this the easiest $500 you’ve ever made?
- Yes 🙂
Not sure how long this bonus will last but if you’re interested, I would apply sooner rather than later. So if you’re a Lyft driver and you’d like to sign up to get your $500 bonus, please consider using our referral link. And if you’re a current Uber driver with friends who haven’t switched yet, you can also try and refer them using your code and make some nice extra money for the holidays.
Earn up to $20 an Hour with Postmates!Postmates is growing like crazy right now and offers plenty of no-contact delivery options, from convenience store items, restaurant delivery and more. Sign up here.
Get started as a gig worker today! Learn more:
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-The Rideshare Guy