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AMEX and Chase have been battling during the COVID-19 pandemic as they add new benefits to make up for the lack of travel benefits normally offered on their cards.
Yesterday, AMEX announced new Uber benefits on their cards.
And today, Chase announced that you will be able to get statement credits for Peloton.
- Sapphire Reserve and JPMorgan Reserve cardholders can get $120 in statement credits.
- Chase Sapphire Preferred® Card cardholders can get $60 in statement credits.
Statement credits will be applied automatically until reaching the full value offered on that card.
Additionally, if you buy a Peloton and accessories (like the shoes and cleats that clip into the bike) you can use the following promo code to save $100: XTU9FR
Credits are valid for Peloton Digital (Normally $12.99/month) and All-Access Memberships (Normally $39/month) through 12/31/21.
Digital app users can also enroll in a month free trial.
Just update your card on your Peloton account in order to take advantage of this offer.
Chase says that “This is the first step in a broader collaboration to provide Sapphire cardmembers more value when using their card with Peloton.”
That’s great news for Peloton users!
Do you use a Peloton? Will this offer be enough for you to get one?
HT: Leon F.
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30 Comments On "Chase Adds Peloton Credit On Sapphire Cards!"
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If we don’t have a peloton anything good to use this credit on?
Give it to someone with a Peloton?
The digital membership has all sorts of classes, not just biking. You can use it on your phone or computer.
I believe the peloton app has many other workout options that don’t require a bike, like strength, yoga, running etc. People who use it have been raving about it. I haven’t tried yet
How useless
If they had a $3,000 credit when purchasing it…,
I hate that Amex and now Chase have started pursuing individual partnerships instead of just crediting that whole category.
Def amazing they did this! It is the best investment I’ve done in my life! I can’t get off of it!
My wife and I each have the Sapphire Reserve card, anyway for us to each maximize the $120 credit? monthly Peloton fee is $40
Sure, just keep one card on the account until the credits are used up and then switch cards.
Done, thanks for the post
Yes, great benefit for me! Now to qualify for the reserve…
Having a lot of trouble figuring out how to change payment info on the app. Anyone know how to?
do it from a computer. I did that and it was super easy. Under Membership on the computer
Don’t do it on the app, do it on the website
If you originally signed up through the app store on your phone, it won’t let you switch on the website :-/
yes it will. I did it.
I actually just reached out to Peloton. You can cancel your current membership through the app store and then you will be prompted to sign back up again once your current billing cycle is over.
I’m pumped that it will almost cover my monthly fee!
Think Peleton would let me buy a bike using 50 credit cards!
Safe to assume that a (non-membership) purchase will not actually be credited?
I have zero interest in membership, but would definitely “purchase” an accessory or two!
Anyone have experience with these types of credits?
I don’t know how much value I have from this Chase offer, but I sure as he!! got a great ROI on Peloton’s stocks! Their YTD gain is 326.03%!
Where are the gym located ?
In your house? These are not locations. They sell exercising equipment, and you can have subscriptions to their services where they offer live and on-demand classes for all level workouts etc.
Is this targeted? I don’t see it in my offers.
Open to everyone.
$120 credit towards a $2000 exercise bike? I’ll stick with my real bike.
can you tell us if you used your hydro machine or returned it /
Heh.
Used it daily for a few months and loved it. Then I pulled my hamstring and it hurt to even walk 🙁
@dan you can try the Peloton for free for 30 days…
Can I buy peloton shoes with this credit? anyone know?