Update: Peloton is blaming inflation for having to increase the cost for the Bike and the Tread, which will go up by $250 and $350 respectively on 1/31.
You can lock in the lower price if you order by 1/30, plus earn 5-10 points per dollar and $60-$120 membership credits with Sapphire, and get $100 of accessories with code: 4JCVE6
Chase announced in 2020 that they were partnering up with Peloton and they have now extended the benefits:
- Sapphire Reserve and JPMorgan Reserve cardholders get $120 in statement credits for membership fees through 6/30/22. Previously you had to spend $1,895+ to also earn 10 points per dollar, but that has been lowered to just $495.
- Sapphire Preferred cardholders can get $60 in statement credits for membership fees through 6/30/22. Previously you had to spend $1,895+ to also earn 5 points per dollar, but that has been lowered to just $495.
Note that you won’t get additional membership credits if you have already exhausted your $60/$120 limit, but if you didn’t use all of it, you can now use the rest by 6/30.
Peloton dropped the price of their original Bike from $2,245 to $1,895 last September when they launched their Bike+ for $2,495. Peloton has since dropped the price of the original Bike from $1,895 to $1,495 and Bike+ from $2,495 to $2,195.
Previously you needed to spend $1,800+ or $1,400+ to trigger the 5 or 10 points per dollar, but you can now earn the 5 or 10 points per dollar on $450+ purchases, so you can now earn bonus points on bikes, treadmills, and accessories.
A $1,495 bike purchased on a Sapphire Reserve would earn 14,950 points. Those points are worth about $235 towards Pay Yourself Back categories. And you’ll get $120 of the $39/month membership fees in credited back as well!
Additionally, if you buy a Peloton and accessories (like the shoes and cleats that clip into the bike) you can use the following promo code to save $100: 4JCVE6
You’ll want to order any accessories you’ll want together with the bike to get free shipping and earn the 5-10 bonus points per dollar spent on $450+ purchases.
Peloton offers free delivery and setup in the room of your choice, plus free returns with free return pickup within 30 days.
Dan’s Note: I bought a Peloton Bike last August after the price drop with these bonus offers and have been thrilled with it, using it several times a week since I got it. The leaderboard and personal records gamify the workout experience, making it exciting to get on the bike and get moving, while energizing your day and gaining strength and stamina. There are dozens of instructors to choose from for live or recorded classes. One of my favorite instructors is Bradley, who is super positive, doesn’t curse, and is a great motivator to stay active!
Do you use a Peloton? Who are your favorite instructors?
A rowing machine is probably the best all around workout. I can’t wait to see what peloton comes out with
So, I had a Hydrow and wound up selling it to a neighbor.
I’d agree that it’s a better all-around workout and really enjoyed using it for a short while, but my form was not great and I injured myself using it. I also didn’t like the calluses that the repetitive rowing motion was building on my hands, something I don’t experience with Peloton. If I had an in-person instructor to show me what I was doing wrong perhaps that could have been corrected, but overall I’m just happier with Peloton.
Yes, it is important to do the correct form. There are some free videos to walk you through this but it’s easiest if you get a complete guide, workouts, and some individual coaching. I looked into a few and the one I liked best, for the least amount of money, was Darkhorse rowing. Only $20/month and has a full course to teach you proper form plus you can upload videos of yourself rowing and a coach gives you feedback. I love both of those but don’t use the other community features as I don’t need the guru life coaching stuff.
Hydrow also offers app only service for $20/month (for those with a rower other than Hydrow). Haven’t used but once I get my form perfected I may try it. I don’t think it has the same coaching and teaching but looks like the follow-along workouts may be more fun since they do the rowing from a real boat in beautiful cities around the world.
I’ve been using the Nordic track with ifit. I love their classes but obviously it’s only one way (no feedback). I’ll look into dark horse. Thanks
Can the credit be used for the iOS app (doesn’t require the bike )
Sure!
Can exactly (or nearly) $60/$120 be spent on the iOS app?
(also on another issue, I am very confused about what offers still exist on my various Amex cards in 2022, are you going to do a post about that? For example, the various wireless credits, the dining credits, etc.)
The gamification that Peloton offers is what finally got me to work out for the first time in probably 25 years. That, and not having to leave my bedroom to get a great workout. The metrics force you to work harder and see actual progress. Connected fitness is the future and Peloton seems to have an insurmountable lead, with the only possibility of Apple knocking them off their throne. Our small neighborhood community has a Peloton WhatsApp chat and a hashtag so we can all ride together even at different times. It really adds motivation and accountability.
Bradley Rose is excellent and it’s not just him and his personality but also his playlists. I would say Denis and Alex are my next two male favorites but just wish Alex would diversify his music a bit. Should you ever be comfortable with a female instructor, I think Kendall is best overall!
Leaderboard name is the very creative Dan_Twersky if you want to connect.
Is your Peloton Name Dansdeals?!? 🙂
Nope.
Why doesn’t someone start a #dansdeals group on peloton?
I have the bike and love it, you can do short classes if you are short on time and best off all not having to leave home, drive, wait for a machine at the gym. I just hit 700 cycling classes this week.
is the $120 credit a 1 time or split in 12 ($10/month)?
This isn’t AMEX 😀
No monthly limits and can keep using until exhausted.
Bradley makes the peloton worth every penny!
Ben Alldis is my favorite instructor.
Which bike did you buy? The Bike+ or original?
Original
I recently started their strength classes and really like them as well, not just the bike classes.
NASDAQ suspended trading of Pelton stock earlier today – stick dropped after Pelton announced the were halting production for two months of Bikes and treadmills.
So look like we are leaving the WFH environment and seeing the light at the end of the CoVID tunnel.
FYI Some UnitedHealtcare plans have a program with Peloton offering discounts on equipment and up to $155/year on the membership.
https://lp.uhc.com/peloton
What to do if i’m stuck paying the old price for the peloton on Affirm? Any way to get a credit?
Just wondering if you ever considered Ergatta. As of now they only have a rowing machine but they take an entirely different approach to workouts. They are clearly catering to more of a male competitive user and they have no classes at all. Everything is “gamified” with different games, races or challenges that get harder as the machine monitors your progress. The other advantage is that since their are no classes, there are no “tznius” issues to avoid.
do you need to have app in order to fully take advantage of the bike?
No
@dan. Back in December I purchased peloton clothing from the website using my chase reserve card. I read that ppl were doing so and getting g statement credit. I didn’t get my credit. Should I call chase? Is there any reason you see why it didn’t post?
2) is the peloton credit yearly or 12 months? If i end up getting the credit for December’s can I do it again now?
Ty!!
The credit is for the membership fees, not for clothing.
I bought a Sunny Bike and subscribe to Peloton’s service for $13 per month. I have a cadence sensor, heart rate monitor and speed sensor for it. I spent $500 for everything above. Not as good a Peloton but much less expensive.