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Chase Adds Peloton Membership Credits to Sapphire Cards

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If you’re on the Peloton bandwagon, having a Chase Sapphire Preferred Card or Chase Sapphire Reserve in your wallet just got a lot more valuable.

On Tuesday, Chase announced that it has added up to $120 in statement credits to the Preferred and Reserve cards. You can use these credits on Peloton Digital or Peloton All-Access memberships all the way through Dec. 31, 2021. Here’s how they break down:

  • Chase Sapphire Reserve: Get $120 total in statement credits toward Peloton memberships through Dec. 31, 2021.
  • Chase Sapphire Preferred Card: Get $60 total in statement credits toward Peloton memberships through Dec. 31, 2021.

This is just the latest new perk Chase and other banks have added during the pandemic. And with Peloton purchases skyrocketing the last few months as even diehard fitness junkies steer clear of the gym, it’s a timely addition.

If you’ve got a Peloton bike or treadmill at home, the Reserve card’s $120 credit is enough to cover three free months of the All-Access membership (at the current $39 monthly rate) – or more than nine months of Peloton Digital through an app. With the Preferred Card, you can use these credits to get a free month (and then some) of a full Peloton membership or more than four months of free Peloton Digital. Both cards will also get you a free one-month trial of Peloton Digital for at-home workouts.

You can register to get started at OnePeloton.com/ChaseSapphire. But keep reading to see how it works.

 

How to Use Chase’s New Peloton Credits

If you don’t have a Peloton or haven’t signed up for a membership yet, just head to OnePeloton.com/ChaseSapphire.

But if you’re already set up at home and paying for a membership, it could get a bit more complicated. First things first, you’ll need to log into your Peloton account and check to see if your subscription shows up there. If not, that means you likely signed up through a third party like the Apple Store. You’ll need to switch by signing up directly through Peloton for these credits to kick in – and put your payment on your Chase Sapphire card, of course.

If you’re already signed up and your subscription shows up, just switch your payment method to your Chase Sapphire card. Already charging your membership to your Sapphire card? You’re set. Just keep charging it to your Chase Sapphire card at least until you’ve used up those $60 to $120 in statement credits.

 

chase sapphire peloton

 

These new credits aren’t earth-shattering by any means, but it’s a nice addition with some extra value for Chase Sapphire cardholders.

The Chase Sapphire Preferred is currently out with a sign-up bonus of 60,000 points after spending $4,000 within the first three months. Scoring a few free months of Peloton membership on top of that isn’t bad right? That alone covers a good chunk of the card’s $95 annual fee.

 

Chase Transfer Bonus British Airways 

 

Click Here to get more information about the Chase Sapphire Preferred Card. 

 

But is something more on the horizon? Chase hinted at future benefits, saying: “This is the first step in a broader collaboration to provide Sapphire cardmembers more value when using their card with Peloton.”

 

Bottom Line

Put your Peloton memberships on your Chase Sapphire cards, people! This is an easy way to save $60 to $120 over the next year and change.

 

Lead photo courtesy of Peloton.

Editorial Disclaimer: Opinions expressed here are the author’s alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

Disclaimer: The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser’s responsibility to ensure all posts and/or questions are answered.

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