Chase Sapphire Adds Peloton Statement Credits

Filed Under: Chase
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We’ve seen card issuers introduce all kinds of partnerships that offer perks to cardmembers, including with ride sharing apps, delivery services, fitness brands, and more.

The logic makes sense — premium credit cards have a lucrative customer base that many companies would love to have access to. These companies can offer benefits to cardmembers, all while credit card issuers can enhance their card offerings without paying much.

Well, we’re now seeing the latest partnership along those lines introduced.

Chase & Peloton team up on Sapphire cards

Thanks to a new partnership, Chase Sapphire cardmembers can receive statement credits for spending with Peloton:

There are some basic things to be aware of:

  • This is valid towards Digital and All-Access Peloton memberships
  • The credits need to be used by December 31, 2021, and are available to new and existing cardmembers
  • Cardmembers can activate their Peloton membership benefit by visiting this link and enrolling 
  • Statement credits will be applied automatically until reaching the full value offered on the card

It’s said that this is the first step in a broader collaboration between Sapphire and Peloton, so I’m curious to see what else they come up with.

Peloton’s Digital & All-Access memberships

As mentioned above, these credits apply either towards Digital or All-Access memberships, which give you access to thousands of on-demand and live fitness classes, including indoor cycling, outdoor and indoor running, strength training, yoga, and more:

  • Peloton Digital memberships ordinarily cost $12.99 per month, and get you access to Peloton’s full content library through the Peloton app without having to own a bike or tread
  • Peloton All-Access memberships ordinarily cost $39 per month, and get you access to Peleton’s full content library through the Peloton bike or tread, or the Peloton app

As you can see, the $60-120 in credits covers you from anywhere for a month to nine months, depending on the card and product.

Bottom line

It’s great to see card issuers establishing partnerships to be able to add more perks. This will be great for those who use Peloton (or were considering it), while it will have very little value for others.

I expect we’ll continue to see card issuers add more temporary partnerships along these lines, which will benefit some cardmembers, but not others.

Will you use this new Chase Peloton perk?

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Comments
  1. Very marginal benefit, I just go running at night and it’s free. Hope they start selling gift cards so I can give it away or something.

  2. Looking forward to the perk. Already paying for Peloton so it is a free $120 for me. Should be able to activate a few family / friend CSR cards who do not have Peloton and get the next 14 months membership for free.

  3. Amex Platinum has Equinox as a fitness partner so it’s only natural to see CSR work with a similar company.

  4. I think this is great. I just got my Peloton so this is really great timing. Recognize this isn’t going to be applicable to everyone, though.

  5. Chase Sapphire and Amex copying each other round and round in a circle. Amex has better transfer partners and earning; CSR only has travel insurance and PP at a lower net cost than the Platinum card. Still, the CSR benefits don’t justify the annual fee. Wish I had a “business” so I could get the CIP and chuck the CSR

  6. Smart on Peloton’s part, as it will get me to switch my Peloton Digital membership from being managed by Apple’s App Store (earning apple a 30% cut) to being managed directly by Peloton. That’s $120 in the bank for me too.

  7. Nice… A few weeks ago, people kept asking “How will Chase Sapphire improve?” It seems like we now know – higher statement credits for things like Peleton, expanded time for Lyft Pink, temporary 3x on groceries, etc. And you get more value by holding a CSR vs a CSP. However you aren’t getting things like 5x on dining/travel like people were asking for…

  8. This is one I can actually use. Combined with the $300 credit, my CSR is effectively $30 this year. I still don’t love these seemingly random lifestyle perks that are getting thrown in and are honestly more trouble to manage than they’re worth in many cases. At least this one is relatively easy to use.

  9. Be careful if you are an older Apple account that had mulitple users attached to one account at 12.99. Peloton no longer allows multiple users on 1 account and since you have to cancel the apple account to move to peloton (offer requires this) account you may lose this feature. I have an e-mail to peloton support and will update if/when i get an answer. Instruction says history moves overif you use same e-mail/user but doesn’t say if multiple user feature moves.

  10. I’ve been running outside a lot during the warmer months, but as it’s getting colder, I may consider a Peloton to exercise indoors.

  11. I see a future where many peloton bikes that are purchased this holiday season end up as a glorified clothes rack.

  12. I started a 3-month trial back when we were locked down and kept the digital membership. They’ve added a ton of new content over the last few months and the variety is good to keep things fresh. It can’t replicate a gym, but it won’t give you COVID.

  13. We financed our Peloton through Affirm and have 10 months of 39 months left. I think the membership was bundled in with that. I presume I need to try and get billed for the membership directly by Peloton to get the benefit? Affirm’s website isn’t super friendly to try and unbundle this.
    Anyone else in the same spot?

  14. Totally worth it and if your monthly Peloton charges are billed to your Sapphire card, there is nothing you need to do. The credits will begin roughly a month from now. Be aware though, the benefit just rolled out yesterday and not all Chase Sapphire reps on the phone truly know all the intricacies of it.

  15. Rob

    We did the same however the monthly membership should be separate. Login to your Peloton account and go to the membership/billing section. You should see your plan there

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