- Chase teaming up with Peloton to bring new benefits to Sapphire cards
- How the statement credit benefits will work
- Should you use the new benefit?
- If you have a Chase Sapphire card, you can get up to 0 in statement credits for fitness classes with Peloton
- You don't need a Peloton bike to take advantage
- You have to enroll to get money back
Chase teaming up with Peloton to bring new benefits to Sapphire cards
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Life in the pandemic has created many new routines. People are working from home instead of going to the office, ordering in instead of eating out and doing a lot of their shopping online. It’s no wonder that workout routines have changed as well, moving from gyms to living rooms.
Adjusting to these changes, credit card issuers have been coming up with new offers and promotions. On Oct. 27, 2020, Chase announced new benefits in partnership with Peloton, introducing an opportunity for Sapphire cardmembers to earn statement credits on Peloton Digital and All-Access Memberships through the end of 2021.
Peloton has seen rapid growth during the pandemic, with its membership base hitting 3.1 million at the end of June, more than double a year earlier. It’s safe to say there’s currently a lot of interest around the company’s offers, which include on-demand or live fitness classes, such as indoor cycling, outdoor and indoor running, strength training, yoga and more.
“We’ve heard from our cardmembers that personal wellness and connecting with others through new experiences are core to their lifestyle – even more so during this past year,” said Marleta Ross, general manager of Chase Sapphire. “With Peloton, we’re excited to bring together these two key passion points and give our collective community the opportunity to unlock even more value through fitness.”
How the statement credit benefits will work
The benefits will be available to new and existing cardholders and provide access to the content library in the Peloton App.
Chase Sapphire Reserve® members can earn up to $120 in statement credits, and Chase Sapphire Preferred® Card* holders can get up to $60 in statement credits on Peloton memberships through Dec. 31, 2021.
To use their Peloton Membership benefit, cardholders need to activate it by visiting Onepeloton.com and enrolling in an eligible membership with their Sapphire card. The statement credits will be applied automatically until the full value offered on the card is reached.
Cardholders can also join the #SapphireSquad tag within Peloton to connect to others in the community.
“The Peloton community is there cheering you on with high-fives and pushing you to be the best version of yourself,” said Karina Kogan, SVP and head of global product marketing at Peloton.
“We have thousands of classes across more than ten fitness disciplines, taught by world-class instructors, where we can move together as a community.
We can’t wait to welcome Sapphire cardmembers who may be new to the Peloton community and glad we’re able to offer our existing members this wonderful benefit.”
Should you use the new benefit?
If you’re already a Peloton member, the new offer is a no-brainer – simply update your payment information and set your Sapphire card as your default payment to start using the benefit.
Note that if you’ve purchased your membership through a third party, such as Apple App Store or Google Play App Store, you’ll need to cancel your current membership and enroll again here.
If you’re new to Peloton, consider your options first. Peloton Digital Membership offers indoor and outdoor running classes, as well as access the Peloton App class library with no Peloton equipment required at $12.99 per month.
Peloton All-Access Membership, however, provides you access to all the classes available with Peloton, weekly live classes and perks real-time metrics and instructor shout outs. The cost is $39 per month, and you’ll have to purchase equipment such as the Peloton Bike or Tread+. Peloton bikes start at $1,895.
Remember that before committing, you can always see if Peloton is the right fit for you with a free 30-day trial. Your Sapphire statement credits will be automatically applied to your monthly membership fee after the trial period.
According to Chase, this is the first step in a broader collaboration to provide Sapphire cardholders more value when using their card with Peloton, so we can expect more Peloton-related perks to be announced in the future.
*All information about the Chase Sapphire Preferred Card has been collected independently by CreditCards.com and has not been reviewed by the issuer.
The editorial content on this page is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers. However, we may receive compensation when you click on links to products from our partners.
If you have a Chase Sapphire card, you can get up to $120 in statement credits for fitness classes with Peloton
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Lately, it seems there's been credit card news every day of the week. American Express and Chase, in particular, have been announcing updates and new benefits at a dizzying pace.
Just a week after announcing a promotion for earning bonus points on groceries with the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®, Chase is back with another new benefit for these two cards — and this time, it's fitness-related.
Chase is launching a partnership with Peloton, the brand behind the popular stationary bike. As part of this collaboration, Sapphire cardholders will get statement credits for Peloton Digital and All-Access memberships.
You don't need a Peloton bike to take advantage
With the Chase Sapphire Preferred® Card, you'll get up t0 $60 in statement credits on Peloton Digital and Peloton All-Access Memberships through December 31, 2021. With the more premium Chase Sapphire Reserve®, you'll get up to $120 in statement credits for both types of memberships, through that same date.
A Peloton Digital membership gives you access to thousands of on-demand and live fitness classes, including indoor cycling but also outdoor and indoor running, strength training, yoga, and more. You don't need a Peloton bike to use a Peloton Digital membership; you can access the classes via the Peloton app.
A Peloton Digital membership costs $12.99 a month. That means you could get up to four free months with the Chase Sapphire Preferred® Card, and up to nine free months with the Chase Sapphire Reserve®.
You'll need a Peloton bike or treadmill to use the more expensive All-Access membership option.
In addition to offering access to all the same classes you get with Peloton Digital, this membership plan integrates your performance stats (such as distance and resistance) to track your performance over time. It also lets you participate in the Leaderboard, so you can see how you rank among other riders.
A Peloton All-Access membership costs $39 a month. The statement credit on the Sapphire Preferred would get you just one free month, while the statement credit on the Sapphire Reserve would get you up to three free months.
You have to enroll to get money back
To get started, visit Onepeloton.com/ChaseSapphire and enroll in the membership of your choice (Peloton Digital or All-Access) using your Sapphire card.
If you're a new Peloton Digital member, you can also get a 30-day free trial if you enroll via the link above. After the trial ends, you'll automatically be billed for the same monthly membership, and your statement credits will automatically be applied until they run out.
This is Chase's first foray into “wellness” benefits for Sapphire cardholders, but Amex actually launched a similar partnership earlier this month. If you have The Platinum Card® from American Express , you can get up to $25 back in statement credits each month toward a membership with Variis, a fitness platform from Equinox.
As travel plans remain on pause for many Americans, we're ly to see even more credit card benefits tailored to life in quarantine.
For rates and fees of The Platinum Card® from American Express, please click here.
For rates and fees of The Platinum Card® from American Express, please click here.
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