Chase Sapphire Preferred and Reserve: Peloton

Peloton’s 3.6 million members make it one of the most popular at-home fitness companies out there. Its popularity increased during the pandemic, and to get in on the trend, Chase Sapphire and Peloton partnered up on an exclusive deal. Through the end of 2021, if you have an All-Access Membership (for those with a Peloton bike or treadmill) or a Digital Membership (for those without the machines), you can qualify for:

Chase Sapphire Preferred: Up to $60 in statement creditsChase Sapphire Reserve: Up to $120 in statement credits

A membership costs $39 per month for the All-Access tier or $12.99 per month for the Digital tier. That means you could get up to nine months of complimentary membership fees depending on the card and membership tier you sign up for.  Anyone—even those who already use Peloton—can take advantage of this offer by making sure their Chase Sapphire card is set up as the payment method in their Peloton account. 

American Express Platinum and Blue Cash Preferred: Variis by Equinox 

Fitness company Equinox launched its Variis app in March 2020. Through the Variis app, you can take classes from some well-known brands that Equinox owns, such as PURE Yoga and Precision Run. It’s probably most popular for its SoulCycle classes, even offering a spin bike to rival Peloton.  Normally a subscription to the Variis app costs $40 per month, but you can get a discount in the form of statement credits if you have an American Express card:

The Platinum Card from American Express: $25 per month until June 30, 2021Blue Cash Preferred from American Express: $10 per month until June 30, 2021

All American Express Cards: Obé Fitness

Another at-home workout website is Obé Fitness, which offers live studio-style classes and a catalog of past workouts. Unlike the other two partnerships on this list, Obé Fitness doesn’t offer its own workout equipment, so you won’t feel like you’re missing out on extra features.  If you have an American Express card, you can sign up through the American Express website for a free two-month trial. Normally, a membership costs $27 per month, although anyone can get a free seven-day trial at any time. (The offer expired on March 31, 2021.)

US Bank Cash+ Visa: 5% Back on Gym Memberships

The US Bank Cash+ Visa card is a rotating-category rewards card that lets you earn 5% cash back on membership fees at gyms and fitness centers.  Not getting rewards for purchases you assumed would offer rewards is a concern with any category-based rewards card. Because gym memberships typically require you to sign up for an extended commitment, it’s especially important that, before signing a contract, you verify with your issuer that you’ll earn the rewards you’re hoping for. 

World of Hyatt: 2x Rewards on Gym Memberships

The World of Hyatt card from Chase offers two points per dollar spent on gym and fitness club memberships. Not only do you get a bonus on these memberships, but you also get a lot of value from the points you earn. We estimate that each Hyatt point is worth an industry-leading 2.01 cents when you redeem them for stays at Hyatt hotels, which is more than double the one-cent-per-point minimum you’d want from a rewards card. However, only memberships to gym and fitness centers count, not purchases from the smoothie bar at your gym. And in some cases, online-based memberships like Peloton may not be classified as a gym membership. 

It’s important to note that there are also cash-back cards that reward fitness-related purchases. For example, a lot of major retailers that sell fitness gear offer their own credit cards with special discounts or rewards. So, if you’ve been looking to outfit your home gym, take a look at these cards as well: Make sure the fitness gear you want is in stock before you sign up for a particular store card. Some retailers may be facing shortages amid the surge to buy popular equipment like adjustable weights and aerobic steps.