How To Use The Chase Peloton Credit – No Fancy Bike Required

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I was not impressed when Chase announced a Peloton statement credit for the Chase Sapphire Preferred and Reserve. A benefit targeted to those who could already afford an expensive exercise bike seemed like it was more style than substance. While these bikes are popular with a certain demographic, most cardholders don’t have them and a $60 or $120 credit isn’t going to move the needle about buying one.

I was pleasantly surprised to learn that Peloton has branched out from the connected fitness bike market and is trying to become an all-around fitness brand.  This means that besides the online cycling and upcoming treadmills, they also are offering live and on-demand classes through its Peloton Digital Membership.

The Peloton Digital Membership gives you access to thousands of live and on-demand classes anywhere, anytime, with or without equipment. It includes a diverse selection of indoor cycling, running, walking, bootcamp, strength and outdoor (audio-only) classes

New members of Peloton Digital get the first two months free. After that, the membership costs $12.99 + taxes per month.

Chase Sapphire Preferred cardholders get a $60 statement credit and Chase Sapphire Reserve cardholders get a $120 credit. The credit is good until 12/31/2021 and can be used over multiple months and doesn’t even have to be concurrent (meaning you can pause and then resume your membership.)

If you’re not already a member, you can sign up at this link.  You’ll still get the two free months before they’ll start charging your Chase Sapphire card. If you’re already a member, you just have to set your payments to your Chase Sapphire card.

While I’ve managed to drop the pandemic 15 that I added while staying home and making baked goods, it’s getting time for me to get back a more regimented exercise routine. I’ve used YouTube videos to help me before but I’m gonna sign up for this Peloton offer. I figure with the two free months and a $120 credit, I’ll get 10 months of free exercise classes.

All I need to do now is blow the dust off of the dumbells in the storage room and maybe get a new pair of running shoes.

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This post first appeared on Your Mileage May Vary