Now earn up to 10x points and $120 in Peloton statement credits from Chase
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Peloton has a bit of a cult following — in a good way. What was already a growing exercise phenomenon really took off in the pandemic as people looked for ways to have fun while working out inside their own four walls. Even as the world reopens, the desire to not miss a Peloton class continues. In fact, sveral TPG staffers plan out their hotel stays based on where they can find a Peloton bike — myself included. I even hauled mine up north for a month-long getaway in Maine. So, you might say I’m pretty excited about the latest developments from Chase.
Chase has announced Chase Sapphire Preferred and Chase Sapphire Reserve cardholders can now earn up to 10x Ultimate Rewards points on Peloton purchases, including any bike, tread, and accessory purchase over $1,800. This is valid through March 2022.
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Last October, Sapphire cardholders also began receiving statement credits that can be used to cover monthly Peloton Digital ($13) and All-Access ($39) memberships, valid through Dec. 31, 2021.
The credit and points you’ll receive varies by card, and breaks down as follows:
Chase Sapphire Reserve
- 10x points on Peloton Bike, Tread and accessory purchase over $1,800, with a max earn of 50,000 points.
- Up to $120 in statement credits on monthly memberships
Chase Sapphire Preferred
- 5x points on Peloton Bike, Tread and accessory purchase over $1,800, with a max earn of 25,000 points.
- Up to $60 in statement credits on monthly memberships
If you don’t yet have a membership, you can sign up here.
I recently became part of a three-Peloton household, after moving in with friends. Fortunately, I’m only on the hook for one $39 monthly Peloton membership but I don’t have any trouble putting the statement credits to use.
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 right here.
Remember, both cards have elevated sign-up bonuses that you can take advantage of right now. Chase Sapphire Preferred cardmembers can earn 80,000 bonus points and a $50 statement credit towards grocery store purchases after spending $4,000 in the first three months from account opening.
Additionally, new Sapphire Reserve cardmembers can earn 60,000 bonus points after spending $4,000 in the first three months from account opening.
Additional reporting by Chris Dong.
Featured photo courtesy of Peloton.
Welcome to The Points Guy!
WELCOME OFFER: 80,000 Points
TPG'S BONUS VALUATION*: $1,650
CARD HIGHLIGHTS: 2X points on all travel and dining, points transferrable to over a dozen travel partners
*Bonus value is an estimated value calculated by TPG and not the card issuer. View our latest valuations here.
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 when you redeem through Chase Ultimate Rewards®. Plus earn up to $50 in statement credits towards grocery store purchases within your first year of account opening.
- Earn 2X points on dining including eligible delivery services, takeout and dining out and travel. Plus, earn 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 80,000 points are worth $1,000 toward travel.
- With Pay Yourself Back℠, your points are worth 25% more during the current offer when you redeem them for statement credits against existing purchases in select, rotating categories.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on eligible orders over $12 for a minimum of one year with DashPass, DoorDash's subscription service. Activate by 12/31/21.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get up to $60 back on an eligible Peloton Digital or All-Access Membership through 12/31/2021, and get full access to their workout library through the Peloton app, including cardio, running, strength, yoga, and more. Take classes using a phone, tablet, or TV. No fitness equipment is required.