Chase Sapphire Reserve & Preferred add Peloton benefit (up to $120 in credits)

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Chase announced today that it is adding a temporary statement credit toward Peloton Digital and All-Access memberships to both the Chase Sapphire Reserve card and the Chase Sapphire Preferred card. The credits will only cover a membership for a short time period, but for those subscribing or interested this could be a decent value add.

Sapphire Reserve vs Preferred

The Deal

  • Today Chase has announced a partnership with Peloton that has added the following credits toward digital and all-access 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

Key Terms

  • Qualifying Peloton purchases include only those Peloton Digital or All-Access Memberships purchased by you, or an authorized user, with a Chase Sapphire Preferred, Chase Sapphire Reserve or J.P. Morgan Reserve credit card.
  • Statement credits will automatically be applied to your credit card account when you make qualifying Peloton purchases, up to a maximum accumulation of $60 (Chase Sapphire Preferred) or $120 (Chase Sapphire Reserve or J.P. Morgan Reserve).
  • To redeem the statement credits for a Digital Membership, you must visit www.onepeloton.com/digital/promotions/chase and sign up for a new Peloton Digital Membership or sign into your existing Peloton account with an eligible credit card as the payment method on file.
  • To redeem the statement credits for an All-Access Membership, you must have an eligible credit card set as the payment method on file.
  • Purchases made via a third-party app store (e.g., Apple App store or Google Play store) do not qualify for the statement credit.
  • After you reach $60 (Chase Sapphire Preferred) or $120 (Chase Sapphire Reserve or J.P. Morgan Reserve) in statement credits, your payment method on file will continue to be auto-billed each month at Peloton’s then current regular monthly membership price, unless you cancel before the end of the relevant membership term pursuant to Peloton’s terms and conditions.
  • Statement credits will not be earned toward the purchase of a bike
  • Statement credits do not need to be earned in consecutive months.

Quick Thoughts

Tons of people in my Facebook feed seem to be riding the Peloton wave, so I know the brand is super popular and there are probably many people into the digital apps. If you are already paying for this, it’s a no-brainer to save some money here.

The CSR will get you either 3 months of all-access or more than 9 months of the digital subscription, which is probably a good deal for free, though keep in mind that there are similar options on the table right now from Amex as well.

H/T: Doctor of Credit

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