A collapsible exercise device includes a vertical support member, first and second sets of rails pivotally connected to each other, and a strut interconnecting the vertical support member and the rails. A user support platform engages the rails. First and second combination pulley-support and pull-up bars are pivotally connected to the first end of the first set of rails for movement between at least a substantially vertical position and a substantially horizontal position. First and second pulleys are slidably connected to bars and receive a cable, which is also connected to the user support platform. The exercise device is foldable such that the vertical support member, the rails and the strut are substantially parallel to each other; and the rails are extendable from the vertical support member and are alignable such that the user support platform is rollable along the first and second pulleys.