Chase Extended Its Lyft and Peloton Perks Through 2027
Chase announced in 2024 that cardholders with certain Chase credit cards would keep their Lyft and Peloton benefits through the end of 2027, rather than losing them after 2024. This means if you hold one of the may be able to access cards, you continue to receive monthly statement credits toward Lyft rides and Peloton+ memberships for three more years. The extension applies to cards that already offered these perks — you do not need to do anything to set up the extended timeline.
The specific credits and which cards include them have not changed. What changed is the expiration date. If you were worried these benefits would disappear, you now have until December 31, 2027 to use them.
Key Takeaways
- Chase extended Lyft and Peloton statement credits on may be able to access cards through December 31, 2027, instead of ending them in 2024.
- The monthly credit amounts and which cards offer them remain the same — only the end date moved forward.
- You do not need to take any action to keep the benefit; it continues automatically if you maintain the card.
- The extension applies only to cards that already had these perks, not to all Chase credit cards.
- After 2027, Chase has not announced whether these benefits will continue, end, or change.
Which Chase Cards Include the Extended Lyft and Peloton Credits
The Lyft and Peloton benefits are tied to specific Chase cards, primarily premium and mid-tier travel and cash-back cards. The Chase Sapphire Reserve and Chase Sapphire Preferred are the most widely held cards with these perks. Both cards offer a monthly Lyft credit (the Reserve includes Lyft Pink membership benefits, while the Preferred offers a smaller monthly credit) and a monthly Peloton+ credit.
Other Chase cards may also include one or both of these benefits, depending on the card's tier and focus. If you are unsure whether your specific card qualifies, log into your Chase account online or call the number on the back of your card. Chase customer service can confirm whether your card has these perks and show you the exact monthly amounts.
How Much You Get Each Month
The monthly credit amounts vary by card. The Chase Sapphire Reserve, for example, includes a $15 monthly Lyft credit (which covers a Lyft Pink membership) and a $20 monthly Peloton+ credit. The Chase Sapphire Preferred offers smaller amounts. These are statement credits, meaning the charge posts to your account and the credit offsets it — you do not receive cash back.
The credits reset each month on a set date tied to your card's billing cycle. If you do not use the full credit in a given month, it does not roll over to the next month. To get the full value, you need to spend at least the credit amount on Lyft or Peloton+ each month. If you spend more, you pay the difference out of pocket.
What Happens When You Use the Credits
When you make a purchase on Lyft or Peloton+ using the card linked to your account, the charge appears on your statement. Within a few days, the monthly credit posts as a separate line item, reducing your balance. The credit applies only to purchases made directly with that card — you cannot use it on gift cards or third-party resellers.
For Lyft, the credit typically covers the cost of rides or a Lyft Pink membership, depending on which you choose. For Peloton+, the credit covers the subscription cost. If you use Peloton equipment but do not have a Peloton+ membership, the credit does not help you — it applies only to the digital subscription service.
What Happens After 2027
Chase has not announced what will happen to these benefits when 2027 ends. The extension through 2027 is the most recent public commitment from Chase. Historically, credit card benefits can be discontinued, reduced, or changed when their promotional period ends. Some benefits are renewed; others are not.
If these perks matter to your decision to keep a card, monitor Chase's website and your account statements starting in late 2027 for any announcements. You may also contact Chase directly to ask about the future of these benefits. Having a backup plan — such as knowing the full cost of Peloton+ or Lyft without the credit — helps you decide whether to keep the card if the benefits do end.
How to Check Your Current Credits and Balance
Log into your Chase account online or through the Chase mobile app. Go to your card details and look for a section labeled "Benefits" or "Offers." This section lists all active perks tied to your card, including the Lyft and Peloton credits. You can also see the date the credit resets each month and whether you have used it in the current billing cycle.
If you do not see these benefits listed, your card may not include them, or they may not have been activated. Call the number on the back of your card and ask Chase to confirm which benefits are attached to your account. If the benefits are available but not showing, Chase can help you set up them.
Why Chase Extended These Benefits
Chase extended these perks to keep cardholders engaged and to compete with other premium credit cards that offer similar lifestyle benefits. Lyft and Peloton are popular services with Chase's target audience, and offering credits toward them makes the card more attractive. The extension also signals to current cardholders that Chase values their business and wants them to keep the card.
From a business perspective, the credits also encourage spending on the card itself — cardholders who use the Lyft and Peloton credits are more likely to use the card for other purchases as well. This increases the card's profitability for Chase through interchange fees and interest charges (if you carry a balance).
Frequently Asked Questions
Do I have to do anything to keep getting the credits through 2027?
No. The credits continue automatically as long as you keep the card open and in good standing. You do not need to re-enroll or take any action. If you close the card, the credits stop when ready.
What if I do not use Lyft or Peloton?
The credits are only useful if you actually use these services. If you do not, the credit goes unused each month and provides no value. In that case, focus on other benefits the card offers, such as travel rewards or dining credits, to determine whether the annual fee is worth it.
Can I transfer the credit to someone else or use it on a different account?
No. The credit is tied to your card and your account. You cannot transfer it to a family member or use it on someone else's Lyft or Peloton account. The credit must be used on the account associated with the card.
What if Chase changes the credit amount before 2027?
Chase can change benefit amounts at any time, though it typically provides notice before doing so. If the credit amount decreases, you would receive less each month. Monitor your account statements and Chase's website for any announcements about changes to these benefits.
Will these credits count toward my annual fee?
No. Statement credits are separate from the annual fee. If your card has a $550 annual fee and you receive $240 in combined Lyft and Peloton credits per year, you still owe the full $550 fee. The credits reduce your out-of-pocket spending on those services, but they do not offset the annual fee itself.