This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on the page are from our partners like Citi and American Express, but our coverage is always independent. Terms apply to the offers listed on this page.
This article is brought to you by the Personal Finance Insider team. It has not been reviewed, approved, or otherwise endorsed by any of the issuers listed. Some of the offers you see on the page are from our partners like Citi and American Express, but our coverage is always independent. Terms apply to the offers listed on this page.
Lately, it seems like there’s been credit card news every day of the week. American Express and Chase, in particular, have been announcing updates and new benefits at a dizzying pace.
Just a week after announcing a promotion for earning bonus points on groceries with the Chase Sapphire Preferred® Card and Chase Sapphire Reserve®, Chase is back with another new benefit for these two cards — and this time, it’s fitness-related.
Chase is launching a partnership with Peloton, the brand behind the popular stationary bike. As part of this collaboration, Sapphire cardholders will get statement credits for Peloton Digital and All-Access memberships.
Regular APR
15.99%-22.99% Variable
- Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $1,000 toward travel when you redeem through Chase Ultimate Rewards®.
- 2X points on travel and dining at restaurants worldwide, eligible delivery services, takeout and dining out & 1 point per dollar spent on all other purchases.
- Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 80,000 points are worth $1,000 toward travel.
- Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash’s subscription service. Activate by 12/31/21.
- Earn 5X points on Lyft rides through March 2022. That’s 3X points in addition to the 2X points you already earn on travel.
Pros
- High sign-up bonus starts you off with lots of points
- Strong travel coverage
Cons
- Doesn’t offer a Global Entry/TSA PreCheck application fee credit or any other statement credit benefits
You don’t need a Peloton bike to take advantage
With the Chase Sapphire Preferred® Card, you’ll get up t0 $60 in statement credits on Peloton Digital and Peloton All-Access Memberships through December 31, 2021. With the more premium Chase Sapphire Reserve®, you’ll get up to $120 in statement credits for both types of memberships, through that same date.
A Peloton Digital membership gives you access to thousands of on-demand and live fitness classes, including indoor cycling but also outdoor and indoor running, strength training, yoga, and more. You don’t need a Peloton bike to use a Peloton Digital membership; you can access the classes via the Peloton app.
A Peloton Digital membership costs $12.99 a month. That means you could get up to four free months with the Chase Sapphire Preferred® Card, and up to nine free months with the Chase Sapphire Reserve®.
You’ll need a Peloton bike or treadmill to use the more expensive All-Access membership option. In addition to offering access to all the same classes you get with Peloton Digital, this membership plan integrates your performance stats (such as distance and resistance) to track your performance over time. It also lets you participate in the Leaderboard, so you can see how you rank among other riders.
A Peloton All-Access membership costs $39 a month. The statement credit on the Sapphire Preferred would get you just one free month, while the statement credit on the Sapphire Reserve would get you up to three free months.
Regular APR
…
Read More: Chase Sapphire cards get statement credits for Peloton workouts