Last Updated: 10/28/2020

Key Points

The Chase Sapphire Reserve now offers up to $120 in Peloton membership credits through December 31, 2021
The Chase Sapphire Preferred now offers up to $60 in Peloton membership credits through December 31, 2021
This is the perfect opportunity to consider adding either card to your wallet and adding Peloton to your stay at home fitness lifestyle

To the Point

Chase and Peloton are teaming up to save new and existing members of Peloton serious money! If you aren't familiar, Peloton is a home-based on-demand and live streaming cycling and fitness brand that has made a huge impression on the fitness industry during the pandemic. With gyms being closed and people staying home more, Peloton has taken off in popularity and is the perfect home fitness option for many people. When people think Peloton they often only think of the Peloton Bike, but Peloton has a vast array of fitness options including a treadmill and an app that acts as your own personal trainer and ranges from outdoor exercises like running as well as, yoga, cardio, and even weightlifting strength workout classes. All of these incredible features on one platform do come at a premium. Peloton’s Bike and Peloton Tread start at $1,895 for the previous generation Peloton Bike, $2,495 for the latest Peloton Bike+, and the Peloton Tread comes in at a whopping $4,295! On top of that, each of these physical devices requires a membership tied to the bike or tread, which costs $39 per month. While that might sound like a lot, you can add unlimited accounts to share with your friends and family, but it still adds up over the course of the year. Luckily, Chase has partnered with Peloton to craft a new, lucrative benefit for their Sapphire cardmembers!

Peloton Statement Credits

Beginning October 27, 2020, Chase Sapphire Reserve and Chase Sapphire Preferred cardmembers will be issued statement credits from Chase for monthly membership payments made to Peloton through December 31, 2021. The Chase Sapphire Reserve offers up to $120 in statement credits and the Chase Sapphire Preferred offers up to $60 in statement credits. These new statement credits bring even more value to the Chase Sapphire card line-up and will help us justify keeping the cards in our wallets for at least another year.

The Chase Sapphire Reserve receives a Peloton statement credit of $39/month, up to $120 through December 31, 2021!

Peloton Monthly Memberships

There are two levels of membership, the All-Access membership which is for customers with the Peloton Bike or Tread hardware and costs $39/month, but if you have don't have a Peloton Bike or Peloton Tread and simply use the app for yoga or strength classes, you can sign up for the Digital Membership for a single member which costs less at $12.99/month. Peloton offers a 30 day free trial for their Digital Membership as well. If you are interested in signing up for Peloton check it out here. If you are a Chase Sapphire Reserve cardmember and are looking to sign up for the Digital Membership now and utilized the free 30-day trial, you are looking at nearly a year of free membership.

Will I receive Statement Credits If I buy Peloton Bike, Peloton Bike+, Peloton Tread, Peloton Accessories, or Peloton Apparel?

Unfortunately, the Chase Sapphire statement credits will not be applied for bike, tread, accessories, gear, or clothing purchase. Per the terms, the statement credits will only apply to your monthly membership fee. Although, if you are buying any Peloton hardware or gear, you are going to be paying for the membership anyway and it will be on Chase's dime: up to $120 for the Chase Sapphire Reserve and $60 for the Chase Sapphire Preferred.

Optimal Peloton Statement Credit Strategy

The optimal strategy to take advantage of these statement credits depends a lot on what your fitness goals are and what equipment you already have access to. Also, it depends on how many Chase Sapphire cards you have in your household. For example, we have a Chase Sapphire Reserve and Chase Sapphire Preferred in our household so we can squeeze a total of $180 in credits out of switching payment methods of our monthly Peloton All-Access Membership ($39/month) from one card to the other. If you have roommates, family, or friends that you share your membership with, there is much more of a saving opportunity. If you do not have the Chase Sapphire Reserve or Chase Sapphire Preferred yet, this may be the time to apply!

Final Point

We are super excited about this new and valuable perk added to Chase Sapphire cards! If we weren't already Peloton addicts we would be jazzed to try out the hype of this growing fitness brand. If you aren't already on the bandwagon, this is the perfect time to try it out!

Do you already have Peloton or are you going to give it a try? Let us know by DMing us on Instagram, or by messaging us on Facebook!

Chase Teams Up with Peloton to Save you Money!