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According to a press release, both new and existing Chase Sapphire Preferred members can earn up to $60 in statement credits on the fitness company's Digital and All-Access memberships through December 2021, while Reserved members can earn up to $120 in statement credits.
The partnership will allow cardmembers to choose from thousands of Peloton's on-demand and live fitness classes, including indoor cycling, outdoor and indoor running, strength training, yoga and more.
Digital Members can access the company's full content library using the Peloton app while All-Access members can take advantage of the content through their Peloton Bike or Tread.
A Peloton Digital membership costs $12.99 per month while the All-Access membership costs $39 per month.
The statement credit would give Reserve members up to nine free months on Peloton's Digital membership and three free months on the All-Access membership. Meanwhile, Preferred members would get four months of the Digital membership and one free month of the All-Access membership.
Existing All-Access members can log in to their Peloton Account here to see if their eligible Chase card is associated with their account while new All-Access members can activate their membership through a Peloton Bike, Bike+ or Tread+. Existing Digital members can activate the offer under the "My Memberships” section of the Peloton app and new Digital members can enroll here.
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The deal with Peloton is the latest benefit for Sapphire cardmembers to enjoy during the coronavirus pandemic.
Cardmembers can also earn 3x or 2x points on travel, including tolls and parking, and dining purchases including delivery and takeout. In addition, Chase Sapphire customers can redeem Ultimate Rewards points to pay for all or a portion of existing grocery store, home improvement and dining purchases or on charitable donations using the company's Pay Yourself Back feature.