This morning, Chase has announced newly-increased earnings on the purchase of a Peloton Bike, Tread, and accessories, with Chase Sapphire Reserve cardholders able to earn 10x on the purchase of a new bike and accessories of $1800 or more up to a max of 50,000 points earned. Sapphire Preferred cardholders can earn 5x up to 25,000 points with the same minimum purchase of $1800.
There is no action necessary to take advantage of this deal: the increased earning structure will be automatic when you use an eligible Sapphire card at checkout. Given that the original bike starts at $1895, the earnings here are pretty significant. Sapphire Reserve cardholders would stand to earn 18,950 points on a purchase of the Peloton Bike alone, which is worth $284.25 if used to Pay Yourself Back for grocery or home improvement purchases.
Keep in mind that this is in addition to the credits that Chase had previously announced for Peloton digital memberships:
- Chase Sapphire Reserve cardholders can earn up to $120 in credits toward digital ($12.99/mo) or all-access ($39.99/mo) memberships through 12/31/21
- Chase Sapphire Preferred cardholders can earn up to $60 in credits toward digital ($12.99/mo) or all-access ($39.99/mo) memberships through 12/31/21
- Direct link to this offer
It is also worth noting that Peloton offers a 30 day trial. I have no idea how good they are at honoring their terms, but they do offer free setup and take-down.
According to the full terms of the home trial, it sounds like they refund the whole bit including delivery, assembly, and return shipping if you’re not satisfied and contact them within 30 days. Again, I’d recommend doing your research to see how reliable that is. I do not plan to do that research because I already had this conversation with my wife this morning:
- Nick [out loud unfortunately]: Huh, Chase is offering 10x on Peloton Bikes.
- Mrs. Reyes: Peloton for mommy for Easter?
- Nick: At $1900, it still seems a little steep for a bike that doesn’t go anywhere.
- Mrs. Reyes: If it’s too steep, just turn down the resistance.
- Nick: That’s exactly what I’d like to do: turn down the resistance by about $1700.
So yeah, I won’t be mentioning the risk-free trial since it comes with the risk of a $1900 exercise bike. That said, I do know a number of people who have these and love them. If you’re thinking about buying one, 10x looks like a solid deal to me. Don’t forget that you should also get Sapphire Reserve extended warranty and purchase protection — though since return protection is limited to $500, don’t count on that.
Finally, keep in mind that the bonuses on both the Sapphire Reserve and Sapphire Preferred are increased at the moment. If you’re thinking of buying a Peloton and qualify for the new cardmember bonus, this would make for a nice little points bonanza.