Credit Cards That Offer Fitness Perks & Rewards
Know Which Cards Offer the Best Discounts & Rewards
If you’re a fitness buff you might be missing the gym right now. The good news is a lot of credit card issuers are stepping up to offer fitness-related perks, including ones that can help you stay in shape while you’re stuck at home. The best opportunities for saving on memberships are limited-time offers on some cards, but other cards offer more permanent (although less valuable) ways to save well past whenever the pandemic ends.
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 credits
- Chase 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.
If you’ve signed up for Peloton through iTunes or another third-party app, you’ll need to cancel your account and re-enroll through Peloton directly in order for it to count. Make sure to use the old membership email for your new one so your workout history will transfer over and you won’t miss out on the Century Club.
American Express Platinum and Blue Cash Preferred: Variis by Equinox
Equinox is a fitness company that 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, though, even offering a spin bike to rival Peloton.
Normally a subscription to the Variis app costs $40/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, 2021
- Blue Cash Preferred from American Express: $10 per month until June 30, 2021
- All other non-corporate American Express cards: $10 for the first three months only through April 1, 2020.
All American Express Cards: obé fitness
Another at-home workout website is obé fitness, which offers live studio-style classes as well as 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 expires 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.
You may not earn 5% back on transactions with app-based fitness programs like Peloton, obé fitness, or Variis by Equinox because your credit card issuer may classify them as streaming services or bike shops. When in doubt, check with your credit card issuer.
Not getting rewards for purchases you assumed would is a concern with any category-based rewards card. Since 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 2 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 out of 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 1-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.
Cards With Related Perks
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 too:
- Amazon Prime Rewards Card: Earn 5% back on all the fitness gear (and everything else) that Amazon has to offer if you have a Prime membership.
- Target RedCard: Earn 5% back on all Target purchases, including fitness products and clothing. If you’re hoping to try on workout clothes in person before you buy them, this could be a better card for you.
- Bowflex Credit Card: While you won’t earn anything special with this card, it has a deferred-interest offer where you pay no interest if you pay in full within 18 months. This could be a good way to finance an expensive piece of equipment, but be sure to pay it off since deferred-interest cards are not the same thing as 0% APR cards.
- REI Co-op World Elite Mastercard: If you’re more of an outdoor fitness buff (or prefer certain indoor fitness activities, like yoga or climbing), you might appreciate this card, which offers 5% cash back on REI purchases. In addition, you’ll get a $100 REI gift card if you make a purchase on your card in the first 60 days.
- ScoreRewards Credit Card or ScoreRewards Mastercard: These two cards from Dick’s Sporting Goods offer deferred-interest financing for larger purchases, as well as a points-based rewards system. You’ll earn 2 points per $1 spent at the store, and you can trade in 300 points for $10 off.
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.