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
– 5X points on Bikes/Tread/accessories: This is capped at 25,000 points for Sapphire Preferred cardholders.
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.)
With that – thanks for reading!