We’ve seen card issuers put in place all kinds of partnerships that offer card members benefits, including ridesharing, delivery services, fitness brands, and more.
The logic makes sense – premium credit cards have a lucrative customer base that many companies would like to have access to. These companies can offer benefits to card members while credit card companies can upgrade their card offerings without paying a lot.
Last October, Chase Sapphire cards received new peloton statement credit. Now that the partnership is being expanded to include the ability to collect bonus points for Peloton purchases. Let’s recap the existing partnership and take a look at the new benefits.
Chase Sapphire Bonus: Up to $ 120 in Peloton Credits
Chase and Peloton have partnered with Chase Sapphire card members to receive statement credits for spending with Peloton:
There are a few basic things to keep in mind:
- This applies to digital and all-access peloton memberships
- The credits must be used by December 31, 2021 and are available to new and existing card members
- Card members can activate their Peloton Membership Benefit by visiting this link and signing up
- Bank statement credits are automatically applied until the full value offered on the card is reached
Chase Sapphire Perk: Up to 10x points with peloton
We knew the bank statement loans were just the first step in a broader collaboration between the two companies, and now we know what’s next. Through March 2022, Chase Sapphire card members can earn bonus points for spending with Peloton:
There are a few basic things to keep in mind:
- Bonus points are only valid for purchases of Peloton bikes, treads or accessories with a purchase amount of at least $ 1,800
- From now on, you can collect 10x points, only until March 2022
- This offer allows you to earn 25,000 Ultimate Rewards bonus points with the Sapphire Preferred and 50,000 Ultimate Rewards bonus points with the Sapphire Reserve
Pelotons Digital & All-Access Memberships
As mentioned above, these credits are for either digital or all-access memberships that give you access to thousands of on-demand and live fitness classes, including indoor cycling, outdoor and indoor running, weight training, yoga and more:
- Peloton Digital memberships are typically $ 12.99 per month and allow you to access Peloton’s full content library through the Peloton app without having to own a bike or profile
- Peloton All-Access Memberships are typically $ 39 per month and allow you to access Peleton’s full content library through the Peloton bike or profile, or the Peloton app
As you can see, the $ 60 to $ 120 balance will cover you for one month to nine months, depending on the card and product.
Bottom line
The partnership between Chase and Peloton is expanding to include those with Saphir cards. Not only will card members receive statement credits ranging from $ 60 to $ 120 for Peloton purchases, but they can now earn 5-10x Ultimate Rewards points on many Peloton purchases.
It’s always great to see card issuers partnering up to get more benefits. This is great for those who use (or are considering) peloton while of very little value to others. I anticipate that card issuers will continue to enter into more temporary partnerships in this direction, which will benefit some card members but not others.
If you don’t have a Chase Sapphire card, these cards offer excellent increased bonuses right now.
Do you appreciate the Chase & Peloton partnership? Have you used it already?
