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Chase is rolling out another exciting partner benefit from the best lifestyle brands. The $120 Chase Sapphire Reserve® Peloton statement credit is the card’s latest perk. Even if your home gym doesn’t have a Peloton, this credit can help you enjoy discounted Peloton membership for live or on-demand classes.
$120 Peloton Credit
Chase Sapphire Reserve® and J.P. Morgan Reserve cardmembers can get up to $120 in statement credits through December 31, 2021. These credits apply to the monthly Peloton membership pass purchases.
This offer is available to new and existing Peloton members. While the offer isn’t as robust, Chase Sapphire Preferred® Card members can get up to $60 in Peloton statement credits (Compare the Chase Sapphire Reserve vs Chase Sapphire Preferred to see which one is better for you).
If you’re new to Peloton, a Peloton Digital Membership ($12.99/month after a 30-day free trial) doesn’t require any equipment purchases. You can workout at home using your current home gym accessories for live and on-demand video workouts for strength, cardio, yoga, and more.
The Peloton All-Access Membership ($39/month) requires you to purchase a Peloton bike or tread.
In a recent press release, Chase mentions this statement credit “is the first step in a broader collaboration to provide Sapphire cardmembers more value when using their card with Peloton.”
How to Receive Peloton Statement Credits
You will need to enroll your Sapphire Reserve Card to redeem this offer here.
After linking your card, there are two ways to earn the credits:
- Enroll in Digital Membership ($12.99/month after a 30-day free trial)
- Purchase a Peloton Bike or Tread ($39/month All-Access Membership Fee after activating your membership)
If you’re an existing Peloton user, you can update your payment setting in your member profile. Upgrading your membership also lets you continue to receive the full $120 statement credit.
You can also claim this offer if you previously canceled your Peloton plan or are currently pausing it. The credit doesn’t have to apply in consecutive months but any remaining balance expires when 2021 ends.
There are some terms and conditions for this offer. The credits don’t apply to Peloton digital membership purchases through third-party apps like the App Store or Google Play. To receive the credit, you will need to purchase a membership directly from Peloton.
After earning the full credit, your Peloton membership continues. You can cancel or pause your membership without penalty if you wish.
Other Chase Sapphire Reserve Perks
There are several other exciting perks that add value to the Chase Sapphire Reserve® for the rest of 2020 and the opening months of 2021.
Redeem $300 Travel Credit for Gas and Groceries
Through June 30, 2021, the annual $300 travel credit applies to gas stations and supermarket purchases. These purchases also earn rewards points but the first $300 in annual travel purchases don’t earn Ultimate Rewards.
The first $1,000 in monthly grocery store purchases (including pickup and eligible delivery services) earn 3 Ultimate Rewards per $1 from November 1, 2020, to April 31, 2021.
DoorDash and Caviar Dining Benefits
You get at least one year of DoorDash DashPass membership that provides unlimited $0 delivery fees. Service fees are reduced on orders of at least $12.
Also, Chase Sapphire Reserve® members get $60 in DoorDash statement credits 2020 and $60 in 2021.
50% Point Redemption Bonus
As always Chase Ultimate Rewards are worth 50% more (1.5 cents each) when booking award travel through the Ultimate Rewards travel portal.
The 50% point redemption bonus applies as a statement credit to these purchases:
- Grocery stores
- Home improvement stores
- Select charity organizations
This Chase Pay Yourself Back feature is available through April 30, 2021.
You also get a 50% redemption bonus when booking Sapphire Private Dining Series events in the Chase Dining Hub tab in Ultimate Rewards. These benefits also end on April 30, 2021.
Related: Chase Sapphire Reserve Review
Peloton is a home gym essential for many. While the Chase Sapphire Reserve® remains one of the best travel credit cards, the addition of lifestyle perks makes this an excellent pick for maximizing your stay-at-home routine too. The Sapphire Reserve Peloton credit can be a welcome benefit for many new and existing cardholders.
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Chase Sapphire Preferred® Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 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 travel through Chase Ultimate Rewards®. For example, 60,000 points are worth $750 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 2x total points on up to $1,000 in grocery store purchases per month from November 1, 2020 to April 30, 2021. Includes eligible pick-up and delivery services.
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Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airlines or hotel chain, and has not been reviewed, approved or otherwise endorsed by any of these entities.