Chase Relaunches Partnership With Peloton, Offers Up to 10X on Eligible Purchases Chase Relaunches Partnership With Peloton, Offers Up to 10X on Eligible Purchases

Chase Relaunches Partnership With Peloton, Offers Up to 10X on Eligible Purchases

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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

Chase-Peloton partnership landing page

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, 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.

Our Take

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.

Chase Sapphire Preferred® Card
Chase Sapphire Preferred® Card
Annual Fee$95
Welcome Bonus 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®.
Our #1 recommended beginners rewards card featuring a 60,000-point signup bonus after you spend $4,000 on purchases in the first 3 months from account opening. This card comes with great benefits and earns valuable Ultimate Rewards points.
  • 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

5 / 5 - (5 votes)
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  • Does this mean Sapphire Reserve card members will be eligible to get ANOTHER $120 beginning January 1, or that they just have more time to redeem if they haven’t already? As a cardholder, I’ve been very frustrated by the lack of transparency around what the credits and benefits will be during each membership year. All of my other cards are very clear what value you get annually. However, my Sapphire Reserve recently renewed for $$$$ with zero information around whether key benefits would be offered during the second year.

    For example, this Peloton credit (which I did use), the Lyft Pink membership (which I recently received notice just expired), the DoorDash credits, etc. Without many of these, the high annual fee is not worth it for me, but even when I reached out to Chase, they literally replied that they didn’t know yet what credits *might* be offered for 2022! Very difficult to make an informed decision.

    • As far as we understand it, it’s an extension of the original, meaning more time to use it. It’s not an additional $120 of new credits. It’s just the same $120 but more time to use it.

  • Peloton has really gone down the tube as we all know… those $2500 coat racks are working on for everyone.

  • I, too, would prefer general category credits, e.g., credits related to general dining rather than DoorDash, to general gyms/fitness/exercise clubs and classes and memberships rather than Peleton,.

  • Patty K Hales says:

    The digital version may work well with travel too. There may not be a gym in a lot of places you travel, but through Peloton you could take the classes anywhere you go as long as they are not the bike classes. I have not done Peloton so I don’t know how well this works, but from what I have heard it seems like it could be an option for some people.

  • Personally, I feel the annual fee is worth it. If you divide the annual fee by 12, you’re paying that much per month… Makes sense. Benefits and perks outweigh the annual fee, I believe.

  • The encouragement to purchase a Pelaton device….

  • The credit is too niche. I would like to see options. Otherwise, this is really a coupon. I wish all the credit cards would stop thinking credits for company-specific businesses are a benefit. I find all these credits irritating.

  • 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)

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

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

  • 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.

  • 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.

  • 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

  • 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!!?

    • 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.

    • Yes, it’s a travel card. But, such cards are having to get creative with travel shut down for so many. In that sense, an at home fitness benefit is actually a very logical choice during a pandemic. As was mentioned about, it would obviously be more attractive if it was a broader fitness streaming credit.

  • I think Peloton needs this partnership much more than Chase.

    • 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.

    • 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.