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
- 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?