Update 3/4/22: Paceline has added 5% on groceries & drugstores, the annual fee has been reduced to $60 from $120. I can’t see these increased categories lasting.
Paceline (fitness rewards platform) has launched the Paceline credit card issued by Evolve Bank & Trust. The card comes with the following benefits/features:
- $60 annual membership fee
- Sign up bonus of up to $429 in credits for Apple Watch Series 7.
- To qualify, cardholders must hit their weekly activity streak of 150 minutes of physical activity, make their minimum payment each statement cycle, and spend $500 each statement cycle for 24 months.
- Card earns at the following rates when you hit 150 minutes of elevated heart rate activity:
- 5% cash back on eligible Health & Wellness purchases
- Gym memberships and subscriptions, including Peloton, Equinox, SoulCycle, LifeTime, Orangetheory Fitness, Planet Fitness and more
- Grocery stores including Whole Foods, Trader Joe’s, Instacart and more.
- Qualifying pharmacy purchases at CVS, Walgreens, Rite Aid and others
- Fitness equipment with brands including Peloton, Tonal, Mirror and Echelon
- Fitness apparel and sporting goods with brands including Adidas, Athleta, Nike, lululemon, The North Face, Outdoor Voices, Patagonia and Under Armour
- 3% cash back on all other purchases
- 5% cash back on eligible Health & Wellness purchases
Our Verdict
The Apple Watch credit sounds great at first glance but it’s split up over 24 months meaning:
- You’d need to pay $240 in annual fees
- You need to spend $500 per month ($12,000 total)
- You need to hit weekly exercise requirements
The 3/5% categories are obviously fantastic but can’t see them lasting.
