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Chase just relaunched its partnership with Peloton. This is great news for exercise-focused cardholders of the Chase Sapphire Reserve® and the Chase Sapphire Preferred® Card. Through this latest version of the Chase-Peloton partnership, Sapphire cardholders can earn up to 10x points on eligible Peloton purchases — up to a total of 50,000 points — made by March 31, 2025.
What is Peloton?
For those who don't know, Peloton is an exercise company. It gained enormous popularity while much of the world was under lockdown. However, its sales have lagged since lockdown restrictions lifted. Peloton sells exercise bikes and treadmills with a large touchscreen attached for at-home exercise. Peloton classes are available to stream 24/7.
Membership for all Peloton classes with the bike or treadmill is $44 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 (or $129.90 annually).
Bonus Chase Points for Peloton Equipment Purchases
Sapphire cardholders will earn bonus points when purchasing Peloton equipment using their Sapphire card:
- Sapphire Reserve cardholders earn a total of 10 points per dollar spent, up to a maximum of 50,000 points.
- Sapphire Preferred cardholders earn a total of 5 points per dollar spent, up to a maximum of 25,000 points.
The spending cap means that you'll earn bonus points on up to $5,000 in spending. After that, you'll earn the standard 1x points on everyday spending.
To qualify, purchases must be at least $150 and be completed by March 31, 2025. Only purchases made directly through Peloton (through onepeloton.com, over the phone, or in a Peloton showroom) are eligible to earn bonus points. Gift cards, apparel, and Peloton App and All Access membership fees don't count.
Peloton and Chase have partnered to offer several different promotions over the past couple of years. This current version falls short of past promotions that offered a statement credit on eligible purchases through June 30, 2022. However, it's nice to see some version of the partnership back for another round.
This new Peloton earning bonus rate is quite a niche benefit, as it will only apply to those who have or are planning to get Peloton equipment. And if you plan to buy a Peloton but don't have one of the two Chase cards, now's an even better time to get one.
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 when you redeem through Chase Ultimate Rewards®.
- Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 toward travel.
- Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
- Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2024.
- Member FDIC
- 5X points on Lyft rides through March 2025
- 5X points on travel purchased through Chase
- 3X points on dining at restaurants worldwide
- 3X points on eligible streaming services
- 3X points on online grocery purchases (excluding Target, Walmart, and wholesale clubs)
- 2X points on all other travel
- 1X point per dollar spent on all other purchases
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