The Paceline credit card program is coming to an end. The fitness-first credit card offered cash back on health and wellness purchases – with more rewards, the more cardholders exercised. The program came to an end yesterday, with the final shutdown set for March 31, 2023.
Paceline Card Promised Much, Rewards Few
Fitness rewards app Paceline first introduced its Paceline Credit Card in late 2021. The card was the first of its kind, providing rewards not just based on spending categories – but how the cardholder met their fitness goals.
The Paceline Credit Card earned up to 5% cash back on health and wellness purchases. That 5% back rate was reliant upon the cardholder’s Paceline Streak status:
- Eligible purchases made with an active Paceline Streak earned unlimited 5%
- Eligible purchases made without an active Paceline Streak earned an unlimited 2.5% back
The main selling point with Paceline, however, was the tantalizing prospect of a new Apple Watch via sign-up bonus statement credits. New accounts that paid their minimum balance due every month and maintain their Paceline Streak as described in their account details – all for 12 months – could receive up to $429 in statement credits towards the latest Apple Watch.
Paceline Credit Card Closure Details
Now, however, the card program is suddenly closed, with current cardholders left in limbo about whether or not the company will honor its sign-up bonus. According to an email sent to Paceline cardholders, the card program stopped accepting new purchases on Thursday, February 23, 2023. The card, issued by Evolve Bank & Trust, will completely shutter the doors of the credit card program on March 31, 2023.
What Do Cardholders Need to Know?
While the card’s closure likely indicates it wasn’t a very popular proposition, what can current Paceline Visa Signature cardholders expect from the process? Paceline has published an FAQ page providing critical info for cardholders. Here are some of the more pertinent answers:
What if I am enrolled in the Earn Your Apple Watch program?
- If you’re actively enrolled in our Qualifying Fitness Device Purchase Reimbursement program, you will continue to receive weekly statement credits on your Paceline card as usual when you hit your Streak, up until your card is closed or 3/31 whichever is first. We look forward to recognizing participants’ engagement with Paceline with additional benefits to be communicated at a future date.
What happens to my cash back?
- Any cash back you have earned from purchases already made prior to the termination date will be credited to your account. Since spending privileges on your card are terminated after February 23, 2023, you won’t be able to use your card for any more purchases or earn additional cash back rewards.
What is going to happen to my Streak and all my rewards?
- You can continue to hit your Streak and claim rewards in the app, and all other non-card functionalities within the app will continue uninterrupted.
Will I be refunded the Annual Membership Fee?
- If you were charged an AMF within 90 days of the termination date (February 23 2023), you will be refunded the $60 AMF as a statement credit to your Paceline account prior to the final termination date.
For more information on the closure of the Paceline credit card program, including answers to even more questions, check out the dedicated FAQ page concerning the card.
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