| Written by: Jenn Alvarez

40K Chase Business Card Referral Offers

Chase for Business® Credit Card referrals are finally back to 40,000 points each. Now through the end of the year, Chase Ink and Chase Sapphire Reserve for Business cardholders can refer up to five eligible new businesses and earn up to 200,000 points. It has been nearly two years since Chase business card referrals were this high. Referral rates were reduced to 20,000 points each back in 2024, and in early 2025 the earnings were capped at 100,000 points per calendar year. While it's certainly exciting to see the 40K Chase business card referral offers return, they will only be useful in certain scenarios since the bank also narrowed referral eligibility rules late last year. Let's take a look at who these referral offers will and won't work for.

Which Cards Have The 40K Refer-A-Business Offer?

The Chase Ink lineup includes some of ToP's most recommended business cards, with some of the industry's best welcome offers and earning categories. While tighter new application rules have recently made it harder to earn welcome offers on all of them, we still think every business owner should at least try to get two out of the first three on the below list. The following cards are eligible for the 40K Chase business card referral offers:

How To Refer A Business

Emails have gone out to cardholders about the 40K Chase business card referral offers. They include pre-generated unique referral links to share with new applicants. Search your inbox for a message from [email protected]. If you didn't get an email or can't find it in your inbox, you can also follow these steps:

  • Head over to Chase's Refer-A-Friend landing page.
  • Scroll down to the business cards tile and click “Refer businesses now.”
  • You'll be prompted to login to your account. After completing any required identity verification, it should take you straight to the business card referral page.
  • Click the “share link” button, and the bank will generate your unique URL.
  • Note that you can refer them to any of the business cards listed above, even if you don't currently hold that card yourself.

Remember The New Referral Rules

While it's great to see referrals back at their all-time high, this offer unfortunately isn't nearly as powerful as it was a couple years ago. If your P2‘s business already has any Chase for Business cards, you can refer them—but you will not get a bonus for it. The same goes for any friends, family members or colleagues you're thinking about sending a referral to. Previously, anyone you referred for an eligible Chase business card could earn you a bonus (provided they were approved), but this changed late last year. Referrals to existing Chase for Business card accounts no longer qualify for the bonuses.

Offer Terms

Here are the terms to keep in mind for the 40K Chase business card referral offers:

  • Maximum bonus points accumulation: 200,000 points (40,000 bonus points each for up to five referred new businesses that are approved for the card)
    • If the bonus points from your referrals would exceed the 200,000-point limit per calendar year, Chase may award a partial amount until your total bonus reaches 200,000 bonus points. Translation: If you have already accumulated 190,000 points from referrals this year, then your next eligible 40,000-point referral award will be awarded as 10,000 points.
  • Eligibility: Business owners must be new Chase for Business card customers. Referrals of individuals with existing Chase for Business card accounts will not qualify.
  • Watch your velocity: If 10 or more of your friends use the referral URL within a month to apply, at Chase's discretion you may not receive any bonus points for the friends who apply that month and are approved for the card.
  • Referrals are taxable income: You may receive tax paperwork for your referrals; you are responsible for any tax liability related to participating in the offer/program.
  • Posting time: Points may take up to 8 weeks to post, following the cardholder's approval. Points will appear on your statement as “Refer-A-Business bonus.”
  • Exclusions: You are not eligible to refer your own business using your referral URL. Chase employees are not eligible to refer friends or business owners.
  • Redemption: Cash back cards may redeem the 40,000 points for $400 cash back, for up to $2,000 cash back total.
  • The offer is available now through 12/​31/​2026: It is subject to change and may be canceled at any time with no notice, though.

40K Chase Business Card Referral Offers: ToP Thoughts

When we make card recommendations, we always ask each person if they have a P2 to get a referral from. If one of our members has a chance to earn 40,000 points, we want them to take it! That's an incredible return for a referral—and among the best any of the big banks offer. That being said, referral bonuses aren't nearly as accessible as they used to be. If you or your P2 are applying for one of these business cards as an existing Chase business cardholder and therefore can't access this bonus, we greatly appreciate the support if you use our link to apply. Our affiliate links still work for existing accountholders, and they're what help keep this blog and group running 365 days a year.

Will the 40K Chase business card referral offers be useful for you? Tell us over in the ToP Facebook Group.