In a new partnership, Chase and Peloton are kicking off benefits to enhance Sapphire cardmembers’ wellness routines.
Adjusting to these changes, credit card issuers have been coming up with new offers and promotions. On Oct. 27, 2020, Chase announced new benefits in partnership with Peloton, introducing an opportunity for Sapphire cardmembers to earn statement credits on Peloton Digital and All-Access Memberships through the end of 2021.
Peloton has seen rapid growth during the pandemic, with its membership base hitting 3.1 million at the end of June, more than double a year earlier. It’s safe to say there’s currently a lot of interest around the company’s offers, which include on-demand or live fitness classes, such as indoor cycling, outdoor and indoor running, strength training, yoga and more.
“We’ve heard from our cardmembers that personal wellness and connecting with others through new experiences are core to their lifestyle – even more so during this past year,” said Marleta Ross, general manager of Chase Sapphire. “With Peloton, we’re excited to bring together these two key passion points and give our collective community the opportunity to unlock even more value through fitness.”
How the statement credit benefits will work
The benefits will be available to new and existing cardholders and provide access to the content library in the Peloton App.
Chase Sapphire Reserve® members can earn up to $120 in statement credits, and Chase Sapphire Preferred® Card* holders can get up to $60 in statement credits on Peloton memberships through Dec. 31, 2021.
To use their Peloton Membership benefit, cardholders need to activate it by visiting Onepeloton.com and enrolling in an eligible membership with their Sapphire card. The statement credits will be applied automatically until the full value offered on the card is reached.
Cardholders can also join the #SapphireSquad tag within Peloton to connect to others in the community.
“The Peloton community is there cheering you on with high-fives and pushing you to be the best version of yourself,” said Karina Kogan, SVP and head of global product marketing at Peloton. “We have thousands of classes across more than ten fitness disciplines, taught by world-class instructors, where we can move together as a community. We can’t wait to welcome Sapphire cardmembers who may be new to the Peloton community and glad we’re able to offer our existing members this wonderful benefit.”
Should you use the new benefit?
If you’re already a Peloton member, the new offer is a no-brainer – simply update your payment information and set your Sapphire card as your default payment to start using the benefit.
Note that if you’ve purchased your membership through a third party, such as Apple App Store or Google Play App Store, you’ll need to cancel your current membership and enroll again here.
If you’re new to Peloton, consider your options first. Peloton Digital Membership offers indoor and outdoor running classes, as well as access the Peloton App class library with no Peloton equipment required at $12.99 per month.
Peloton All-Access Membership, however, provides you access to all the classes available with Peloton, weekly live classes and perks like real-time metrics and instructor shout outs. The cost is $39 per month, and you’ll have to purchase equipment such as the Peloton Bike or Tread+. Peloton bikes start at $1,895.
Remember that before committing, you can always see if Peloton is the right fit for you with a free 30-day trial. Your Sapphire statement credits will be automatically applied to your monthly membership fee after the trial period.
According to Chase, this is the first step in a broader collaboration to provide Sapphire cardholders more value when using their card with Peloton, so we can expect more Peloton-related perks to be announced in the future.
*All information about the Chase Sapphire Preferred Card has been collected independently by CreditCards.com and has not been reviewed by the issuer.