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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
- 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:
- Sapphire Preferred: 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Check out our full review of the Sapphire Preferred card here.
- Sapphire Reserve: 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. Check out our full review of the Sapphire Reserve card here.
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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