Chase Partners With Peloton, Adds Up to $120 in Membership Credits to Sapphire Cards

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Today, Chase announced a new partnership with Peloton. This is great news for exercise-focused cardholders of the Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card. And if you don't have a Sapphire card yet, these two cards just got even more valuable.

What is Peloton?

For those who don't know, Peloton is an exercise company. It has gained enormous popularity this year as much of the world has been under lockdown. Peloton sells exercise bikes and treadmills with a large touchscreen attached. Exercise classes are available to stream 24/7. Membership for all Peloton classes with the bike or treadmill is $39 a month. If you don't want to buy the company's hardware, you can get a digital membership with all the classes for $12.99 a month.

Claiming Your Chase Peloton Membership Benefit

Chase Peloton membership benefit banner

As part of Chase's new partnership with Peloton, Sapphire Reserve and Sapphire Preferred cardholders will receive statement credits when using their card to pay for a Peloton membership.

  • Sapphire Reserve cardholders will get up to $120 in statement credits toward a Peloton membership
  • Sapphire Preferred cardholders will get up to $60 in statement credits toward a Peloton membership

You can apply the credit to either the full Peloton membership or the digital membership. That means Sapphire Reserve cardholders can get three months of the full Peloton membership credited, or nearly a full year of the digital membership. Sapphire Preferred cardholders will get at least four months of the digital membership reimbursed.

These benefits are available to both new and existing Peloton members. If you're an existing member, ensure your Chase card is linked to your Peloton membership and you will soon see the amount credited to your account. If you're a new member, sign up for your membership here using your Sapphire Card to start a 30-day free trial membership.

The statement credits are valid through December 31, 2021. So, you have time to use this benefit even if you aren't ready to join Peloton yet.

Current Offers on the Sapphire Cards

This Peloton membership makes both Chase Sapphire cards even more valuable. If you don't already have a Sapphire card, here are the current offers:

Our Take

This new Peloton membership statement credit is quite a niche benefit, as it will only apply to those who have or are planning to get a Peloton membership. But if you are one of the million Peloton users, then this is great news for you. And if you use Peloton but don't have one of the two Chase cards, now's an even better time to get one.

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Comments

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    Would love it if this credit applied more broadly to a fitness streaming category, and you could get a recurring benefit monthly (like the temporary AMEX wireless service credits)

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    This is a nice benefit, now I just need a peleton!

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    Not a bad addition for the Reserve, but the annual cost is still hard to swallow.

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    It’s great to see Chase adding benefits, but I agree with some others that this particular benefit is very niche. It would be great to see the $120 in value be added in another way.

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    Rob Williams says:

    The Sapphire cards are getting less competitive, and this new benefit won’t help much. I’m certainly not going to get any benefit from it.

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    Too niche. I’m never going to use this and I’d rather have the $120 in cash- chase has to do better than this to make me keep the reserve

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    And TPG’s award for “Most Worthless Credit Card Perk of all Time” goes to… drum roll…

    This is a TRAVEL card. What focus group came up with this? I’m definitely canceling come time for renewal. The Freedom earns as many points per dollar on dining AND earns more on Chase travel. A free card better than a $550 card!!?

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      Agreed this is an awkward benefit for a travel card. Despite not using the Lyft benefit, I came out a couple hundred ahead with the CSR this year with DoorDash and the extra points on groceries back in May/June.

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    I think Peloton needs this partnership much more than Chase.

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      Agreed.

      I’d like to see this AMEX-Platinum like benefit replaced by a more general exercise/fitness benefit that would be less niche and more broadly useful.

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      I’m still blown away this is what Chase came up with. We get travel is down so upsell the food and dining. People need to eat but peloton is such a niche market even within the exercise category. I won’t even sign up for a “free trial” to test it out. I have ZERO interest.