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Paceline Card Review
Update (Feb 17, 2023): Looks like the Paceline credit card will be shutting down as of a week from now based on an email sent to cardmembers. They will also be terminating the statement credits from the weekly activity goal that is used for getting the Apple Watch for free. (HT: r/churning)
Original article (Jun 24, 2022): Paceline, the startup that connects your health and your finances through its unified wellness platform, today launched the first credit card powered by movement. The new Paceline Visa Signature Card rewards cardmembers not only for spending, but for staying active by hitting their weekly “streak” of 150-minutes of exercise.
There’s also a signup bonus for new members, but you literally have to work for it. Cardmembers can earn back the cost of Apple Watch Series 7, and boasts up to 5% unlimited cash back on eligible health and wellness spend and up to 3% unlimited cash back on all other eligible purchases for cardmembers who achieve their weekly streak. The card has an annual fee of $60. Let’s get into this Paceline Card review and see all the details.
Update: There’s also a new bonus of $120 for the Paceline Credit Card through Swagbucks. It should stack with the signup bonus for the free Apple Watch. (HT: DoC)
Signup Bonus
- New cardmembers are eligible for weekly credits towards their purchase of any Apple Watch–including Apple Watch Series 7–up to $429, which can be earned back over 12 months.
- To qualify, cardmembers must hit their weekly activity streak of 150 minutes of exercise and keep their account in good standing.
- Annual Fee: $60
- See offer here
Credit Card will be issued by Evolve Bank & Trust; Member FDIC pursuant to a license from Visa ® USA, Inc.
Card Benefits
- Cardmembers unlock up to 5% unlimited cash back on purchases from qualifying health and wellness merchants and up to 3% unlimited cash back on all other qualifying purchases – when they hit their weekly Paceline streak.
- Cardmembers earn unlimited base cashback of 2.5% on all health and wellness purchases and 1.5% on all other qualifying purchases if they do not hit their weekly streak.
‘Health & Wellness’ Categories
Paceline continues adding health and wellness brands to qualify for cardmembers to earn cash back:
- Gym memberships and subscriptions, including Peloton, Equinox, SoulCycle, Life Time, Orangetheory Fitness, Planet Fitness, and more.
- 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.
- Grocery stores including Whole Foods, Trader Joe’s, Instacart, and more.
- Qualifying pharmacy purchases at CVS, Walgreens, Rite Aid, and others.
Using Rewards
Cash back automatically posts to cardmembers’ accounts daily for hassle-free rewards management. Cardmembers are eligible to redeem additional Paceline streak rewards from over 200 brand partners when their weekly Paceline activity streak is hit.
A Card Powered by Your Workouts
The Paceline Card is powered by your workouts, doubling the amount of cash back you receive when you complete your weekly streak. Activity monitoring is simplified by connecting the Paceline app with any compatible wearable device. The card leverages the same system that fuels Paceline’s free rewards app, which offers gift cards and discounts to top wellness brands such as Daily Harvest, Hyperice, and Alala.
Visit Paceline.fit to learn more and join the Paceline movement. Download the app (iOS only) to begin getting rewards for your movement and to apply for the Paceline card. The app connects with your Apple Watch, Garmin, or Fitbit to keep track of your exercise.
Guru’s Wrap-up
This is a nice idea. A card that incentivizes cardholders to move and exercise. If you do it weekly and 150 minutes of exercise, you can get reimbursed for a Apple Watch Series 7, up to $429. That’s a nice bonus, but you have to work for it, and to it weekly for a whole year.
But earning and using rewards, seems to be quite limited. You earn increased rates for select health and wellness brands only. However there are some familiar names such as CVS, Walgreens, Whole Foods, Trader Joe’s, Instacart, and more. But you can get some additional rewards when hitting your weekly streaks. I’m not sure what those rewards would be.
Anyone planning to apply? Let me know in the comments.
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