First things first, your credits are safe! However, you’re probably wondering what in the world “Credit Split” means. (And if you’re not, then you’re probably a mind reader and should have your own reality tv show.) Feel free to exit stage left now if you don’t need to read more.
For those of you that stuck around, we’re making a small change to the way we value Peerfit credits in order to help us price classes more accurately. Starting August 31, the number of credits in your Peerfit account will double. If you previously had 8 credits, you now have 16. If you had 32, you now have 64, and so on. Whatever Peerfit plan you’re on - that’s doubling too.
Think of it this way: if you had 8 slices of pie, we’re just cutting each of them in half to give you 16. Sorry, no free pie, just better portion control. (See what we did there? #healthyanalogies)
Here’s the deal:
What this means for Peerfitters:
To put it simply: your credits have doubled and they cost half as much. This change will allow us to price studios more accurately and allow you to use your credits more efficiently because we’ll be able to price new classes even closer to the studios’ member rates.
You may be wondering...
How much do single credits cost now for pay-as-you-go?
Each credit now costs $3.50, which is half of what a single credit cost previously.
Does this mean that the cost for classes is increasing?
No. The number of credits per class is increasing, but so are your personal credits. Thus, it’s all the same for you. You still get your favorite Peerfit classes, at no extra cost to you. Here’s a simple example:
What this means for Studios:
With this credit split, we are able to dial in your reimbursement rate and better fit prices to your member rates, thus giving you a better reimbursement per Peerfit reservation. While consumer credit pricing has been updated, your reimbursement is unaffected.
You may be wondering...
Does this mean people are paying less for my classes?
No. We simply cut the value of credits in half and doubled the price in credits for your classes. So, your classes end up costing a Peerfitter the exact same as before.
What about my reimbursement rate?
If you were paid for 10 classes last month, you’ll receive the same reimbursement for 10 classes next month.
What this means for Enterprise:
More accurate pricing for users means more efficient spending of your wellness dollars.
You may be wondering…
Have the base plans changed?
Yes - this change means that base employer plans have doubled - each credit cost just costs half as much. So, they’ll look different, but the total plan costs you the same and gives users the same buying power.
In the end, our biggest reasoning behind moving to this model was to benefit our users and studios. We wanted our users to get more out of their Peerfit credits and our studios to be part of a powerful partnership.
Have questions? We have answers. Feel free to reach out to us at email@example.com!