For those of you not familiar, SoulCycle is a company that offers 45-minute indoor cycling classes. They have 82 locations as of now, and have a cult-like following. I once did a SoulCycle class and while it’s not my thing, I get why people like it. It makes cycling fun and motivational, though the experience is going to be dependent on the instructor you get.
If you have an Amex Platinum Card and are a SoulCycle fan, the two companies have just announced some new perks. As of now this partnership is valid through November 6, 2018, though I imagine it has possibility of expanding beyond that if it proves to be mutually beneficial.
This is open to both those with The Platinum Card® from American Express and The Business Platinum® Card from American Express, and enrollment is required at this link, and requires creating a SoulCycle account. So, what perks to Amex Platinum members get at SoulCycle?
- Three complimentary classes when purchasing a package of 20 classes through SoulCycle’s website
- The ability to buy a package of 25 SuperSoul classes, compared to the normal requirement of having to buy a package of 50 SuperSoul classes
- 10 free passes you can provide to first time riders
- Free shipping and advance access to SoulCycle warehouse sales through SoulCycle’s website
Ordinarily buying 20 classes would cost $600, meaning that they’re $30 each. If you buy 20 classes and get three free, the cost per class goes down to ~$26 each.
As far as SuperSoul goes, ordinarily that allows you to buy 50 classes for $3,500, while now you can buy 25 classes for $1,750. With SuperSoul you’re paying $70 per class, which is actually significantly more expensive than what classes normally cost. You’d think they’d give you a discount for buying in bulk, but the reason it’s more expensive is because it gives you access to the most popular classes in advance. SoulCycle has some very well known instructors, and typically the only way to get into their classes is to be a SuperSoul member.
Here are the terms of the American Express & SoulCycle partnership:
Offers valid from 11/06/2017 through 11/06/2018. To be eligible for exclusive SoulCycle offers, US Consumer and OPEN Platinum Card Members and Centurion Members must enroll at https://www.soul-cycle.com/amexenroll. To enroll, you must have or create an account on https://www.soul-cycle.com/.
Exclusive 20+3 Series Pricing: To receive 3 additional classes, you must purchase a 20 Classes + 3 Free series on the SoulCycle Website, via desktop or mobile (not available in the SoulCycle app). Enrolled Card Members can purchase unlimited 20+3 series packages during the duration of the offer term. When you purchase this package for the price of 20 classes, you get 23 classes added to your account immediately and they expire 12 months from the date of purchase.
Retail Offers: Free Ground Shipping will appear in your cart online once you have enrolled your eligible Card. Other retail offers will be communicated via email from SoulCycle to enrolled Card Members prior to each event (i.e. warehouse sales, exclusive collection launches).
Super Soul 25 Pack: Reserve classes in studios in advance of sign-ups, includes full concierge service and priority on waitlists. To receive these benefits, you must purchase the Super Soul 25 Classes series on the SoulCycle Website, via desktop or mobile (not available in the SoulCycle app). Super Soul benefits are available only on classes purchased in a Super Soul pack. Hamptons locations are excluded.
10 First Time Free Class Passes: To receive 10 First Time Free class passes for new riders, you can pick them up at one time at the front desk of any studio after you enroll. First Time Free passes are for walk-in classes only, bikes based on availability. Hamptons locations are excluded. New rider must bring pass to redeem free class. Passes expire on November 6, 2018.
I know some people will say “I can’t believe people pay $30-70 for a group cycling class.” At the same time, many of these classes sell out within minutes of when they go live, even at the SuperSoul level, where people are paying $70 per class. So many people love SoulCycle, and I’m sure they’ll get value out of this new perk. I do have to wonder how much incremental business this will generate, rather than just existing SoulCycle fans using this benefit to get discounts.
Fortunately for SoulCycle, this is pretty low risk. At worst, the cost of each class goes from $30 to $26. Furthermore, for SuperSoul they’re not actually discounting it, but rather just letting you purchase it in smaller increments. The ability to get guest passes for first time riders is just a marketing technique that you’d think they’d extend to any frequent customer.
(Tip of the hat to The Points Guy)