Peloton Offers Limited-Time Referral Credit Promotion

Hurry, Peloton friends!  There is a sweet new referral offer on the table.  On Thursday, February 1, 2024, Peloton extended a limited-time offer* to current Members:  When a friend buys a new Bike/+, Tread/+, or Row using your referral code, they’ll receive $200 off the purchase price and the referring Member will receive a 2-month free All-Access Membership subscription credit in the form of a promotional code sent via email (so check your spam boxes if you refer someone!). 

For the first time ever…..but is it really?

Who Can Refer?

In the past, Peloton has been known to crack down on exactly who can extend their referral codes to people, notably making a change a couple of years ago and only allowing the account holder to pass their code along for apparel credits.  But, that does not seem to apply in this instance.  According to the fine print, “‘Eligible Referror’ means any All-Access Member, including account holders and linked profiles under such accounts, but excluding Rental Members.”  This offer also cannot be applied to any Limited Edition hardware, and the $200 purchase credit can’t be saved for a later date.  

The fine print

Important note: Just like the person using the referral code has to use the purchase credit tiring away, Peloton wants you to use your subscription credit quickly, too, and it must be used by May 12, 2024 (aka, don’t dawdle when it comes to cashing it in).  


Limited Time…But, First Time??

Ok, now that we’ve covered the details of the promotion, we’d like to pick it apart just a little bit.

As soon as this email hit our inboxes, the opening claim of the ad raised not just one eyebrow, but many eyebrows.  We knew that “first time ever” wasn’t totally accurate and we propose that “first time ever” should have an asterisk behind it.

Is it the first time ever that Peloton is including the Row in this offer?  Yes.  Is it the first time ever that Peloton is giving $200 off a purchase in conjunction with the free 2-month subscription credit for the person referring?  Yes.  Is it the first time this offer has been extended in the Barry McCarthy era?  Yep.  But, is it the first time Peloton is offering a free 2-month subscription credit for referring someone?  Nope.  

We know we’re parsing words here, but when we saw the claim in the ad, we just couldn’t resist pointing out that long-time Peloton members will absolutely remember the heyday of free-subscriptions-with-referrals, some of which, in the early days of the offer, referred so many people that they ended up scoring nearly SIX YEARS worth of free subscription credits, just on referrals alone.  Shortly after this, Peloton ended the subscription credit, switched to a merchandise credit and capped the referrals at 12 per calendar year.  

We present exhibits A, B, and C, courtesy of the Peloton OG group.

Note those 2015 dates.  This is not the first free-subscription-credit referral program rodeo. And, a tip of the hat to the Peloton OGs who kept. those. receipts.  Thanks for sharing them with us!

Here’s What We Didn’t See In The Fine Print

Envious of the OG Member who had 6 free (and glorious) years of riding with Peloton?  Us, too.  And, the lack of something in the fine print caught our attention, which made us read the fine print and then re-read it, and re-read it again.  While it certainly lays out a lot of terms, we didn’t see a single mention of limitations on how many times a Referror can use their referral code to refer people. So, in theory, maybe…just maybe…you could, I don’t know, get more than 2 months in free subscriptions? 

Now, to be clear, we do not know if this will work.  It may not. But, if you have 6 friends who are on the brink of a Peloton purchase, why not give it a try and see if you can rack and stack those subscription credits for a full year of free membership?  We think it’s worth a shot!

*offer ends 2/12/24. Promotion does not include an apparel credit.

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