Extended: Chase Sapphire cardholders can use this Peloton benefit through June
If exercising more in 2022 is on your to-do list, listen up.
Throughout the pandemic, issuers have focused on at-home fitness as a means to engage with cardholders. Now, Chase has extended the registration period for its Peloton benefit on both the Chase Sapphire Preferred Card and Chase Sapphire Reserve cards.
You'll have the opportunity to earn up to 10 points per dollar spent on Peloton purchases along with up to a $120 statement credit. Here are all the details.
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In October 2020, Chase Sapphire Preferred and Chase Sapphire Reserve cardholders began receiving statement credits that can be used to cover monthly Peloton Digital ($13) and All-Access ($39) memberships. If you haven't used those credits yet, you still have the opportunity to do so through June 30, 2022.
In addition, if you're looking to purchase Peloton equipment, you can do so at elevated earning rates through June 30.
The credit and points you’ll receive varies by card:
Chase Sapphire Reserve
- 10 points per dollar on Peloton Bike, Tread and accessory purchases over $450 (up to $5,000 in total purchases), with a maximum earning of 50,000 points.
- Up to $120 in statement credits on monthly memberships.
Chase Sapphire Preferred
- 5 points per dollar on Peloton Bike, Tread and accessory purchases over $450 (up to $5,000 in total purchases), with a maximum earning of 25,000 points.
- Up to $60 in statement credits on monthly memberships.
Here's what the Peloton benefit looks like on your Chase statement.
Statement credits will be issued automatically when you pay with an eligible card, as long as you signed up for your account directly with Peloton — memberships purchased through a third-party store (like Apple’s App Store) aren’t eligible.
New customers can also sign up for a free 30-day Peloton Digital trial.
Remember, both cards have sign-up bonuses that you can take advantage of right now. Chase Sapphire Preferred cardmembers can earn 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
Additionally, new Chase Sapphire Reserve cardmembers can earn 80,000 bonus points after you spend $4,000 on purchases in the first three months from account opening.
While Chase partners closely with Peloton, Amex has a similar association with SoulCycle for its at-home bike. Those with The Platinum Card® from American Express get a $300 statement credit when purchasing one SoulCycle at-home bike.
In addition, the Platinum also comes with an up-to-$300 annual Equinox statement credit, broken down into $25 monthly credits. The Equinox+ app (with SoulCycle content) costs $40 per month, so you’ll have to pay $15 monthly out of pocket for this particular perk. Enrollment is required for select benefits.
Additional reporting by Chris Dong.