Peloton’s $120 Credit & 10X Points for Chase Sapphire Cardholders (US only)

This one is entirely for US folks, as it has to do with credit cards. But, it’s a pretty notable ‘deal’ when you start doing the math on it – and could be an interesting template for other larger companies to look at (cough, Zwift). If you remember the way-back machine, last October Peloton announced a partnership with Chase Sapphire/Reserve for cardholders to get back $120 of their annual Peloton subscription fees, as a credit on their credit card statement (so basically, a refund). However, now it’s expanded to getting 10x points for purchase of Peloton hardware (Bike/Bike+/Tread/Tread+/accessories). So the purchase of a new Peloton Bike+ gets you basically 25,000 points – or enough for a free round-trip US flight in most cases (depending on the myriad of ways you can redeem points).

Essentially, there are two variants of bonus/credits that Chase Sapphire Preferred and Chase Sapphire Reserve cardholders get:

Sapphire Preferred folks:

– Subscriptions credit: Sapphire Preferred folks get a $60 credit per year for Peloton subscription fees
– 10X points on Bikes/Tread/accessories: This is capped at 25,000 points for Sapphire Preferred cardholders, so basically any purchases above the $2,500 threshold just earn the regular points amounts, not the 10X multiplier. So if you bought a Tread+ for example (which is $4,200), you’re only earning the multiplier on the first chunk of it.

Sapphire Reserve folks:

– Subscriptions credit: Sapphire Reserve folks get a $120 credit per year for Peloton subscription fees
– 10X points on Bikes/Tread/accessories: This is capped at 50,000 points for Sapphire Reserve cardholders, so basically any purchases above the $5,000 threshold just earn the regular points amounts, not the 10X multiplier.

Technically speaking, the minimum purchase for the 10X multiplier is $1,800 – but since Peloton doesn’t sell any bikes or treadmills below $1,800, then that’s largely a moot point (unless you plan to buy accessories decoupled from your bike/treadmill purchase).

If you have a Chase Sapphire or Reserve card, you simply need to associate your Chase account to your Peloton account to start getting the Peloton credits/refunds, as well as to then earn the bonus before purchasing a Peloton thingy. It literally takes like 7 seconds. You should then see on your dashboard some time later the statement credit show up. Here’s mine:

You can read a far more detailed compilation of this from one of the frequent flyer points blogs I follow.

(Geeky miles & points side note: Well before I got into sports tech I was and still am into travel and frequent flyer points. Like…real deep into the nuances of frequent flyer points. So, the potential usage of 25,000+ Chase points is far greater than just a simple free flight, due to the way you can redeem Chase points as cash or transfer straight into various airline/hotel programs. Heck, you can even straight buy an Apple Watch using the points. 25,000 points equals $250 of Apple credit money on their site – almost enough for an Apple Watch SE. In fact, doing a search for 10 days from now, it’s just shy of the 28,895 points needed for a round-trip flight needed from Washington DC to Amsterdam. Mostly because the plane is empty, and because most Americans aren’t allowed in Europe right now. But hey…that’s besides the point.)

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With that – thanks for reading!