For the next several months, both cards will offer elevated points on eligible Peloton purchases.
And if exercise equipment isn't appealing? Chase has also extended or tweaked some existing pandemic-related offers, including elevated point values through its "Pay Yourself Back" feature, incentives for using Chase Dining, as well as continued flexibility with the Sapphire Reserve's travel credit.
Here’s what to know:
Peloton is best known for its stationary fitness bikes, but its digital and all-access memberships also offer access to thousands of workout classes, including cardio, strength, yoga and more. Purchasing a Peloton Bike or Tread (including Peloton bundled accessories) gets you more rewards with an eligible Chase Sapphire Preferred® Card or Chase Sapphire Reserve® card at checkout.
The following perks can be combined with Chase’s previously announced statement credits for Peloton memberships:
Chase Sapphire Preferred® Card: Through March 2022, earn 5 points per $1 spent on each Peloton Bike, Tread, and accessory purchase of over $1,800, for a maximum of 25,000 points. Chase’s previous Peloton offer also allows up to $60 in statement credits on Digital and All-Access memberships through Dec. 31, 2021.
Chase Sapphire Reserve®: Through March 2022, earn 10 points per $1 spent on each Peloton Bike, Tread, and accessory purchase of over $1,800, for a maximum of 50,000 points. You can combine it with Chase’s previous offer for more value: Earn up to $120 in statement credits on Peloton Digital and All-Access membership through Dec. 31, 2021.
Chase is also extending a few benefits for Sapphire cardholders that can offer more flexibility with points and perks if you prefer to not redeem them for travel this year:
The "Pay Yourself Back" feature: Through Sept. 30, 2021, points will continue to be worth 25% more for Chase Sapphire Preferred® Card cardholders or 50% more for Chase Sapphire Reserve® cardholders when redeemed for statement credits after using the card at grocery stores, home improvement stores, restaurants and select charitable organizations.
Chase Dining redemptions: Through Sept. 30, 2021, points are worth 25% more for Chase Sapphire Preferred® Card cardholders or 50% for Chase Sapphire Reserve® cardholders when they redeem for purchases with Chase Dining (including takeout, prepaid reservations and more). This pairs with an existing Chase offer: Through June 30, 2021, cardholders can also earn 10 points per $1 spent (up to $500) on purchases through Chase Dining in Ultimate Rewards®.
Travel credit flexibility for Chase Sapphire Reserve® cardholders: Through Dec. 31, 2021, gas station purchases and grocery store purchases will continue to qualify for the card’s $300 travel credit.