Chase Ink Referral Offers

It is no secret that the Chase Ink lineup of cards (Ink Cash, Ink Unlimited & Ink Preferred) are ToP's favorite business cards. They have excellent welcome offers and some of the best earning categories on the market. The Chase Ink referral offers are also some of the most rewarding out there (although Amex has a claim at times there too).

Update 12/16/24: Chase also slashed the total cap each year in half (HT DDG).

The Total Referral Bonus Cap Has Also Been Reduced

It looks like Chase wasn't done when they slashed the earning for each referral by 50%. Back in the summer the bonus you received from referring a friend went from 40,000 points per down to 20,000 points per. That wasn't surprising, since 20,000 points was the long term norm. At the time they still left the overall cap on points you could earn at 200,000 points per year. That meant that you could still refer up to 10 friends to a Chase Ink Business card. It looks like that is changing on January 1st. Starting next year that cap will also be slashed by 50%, bringing the total points you can earn down to 100,000 points per calendar year. That still allows you to refer 5 people each year on the current 20,000 points per person rate. It might not be a big deal for some, since hitting up more than 5 friends can be tough, but it will be a loss for the hungrier referrers out there.

The good news is that this cap is per card account, much like American Express. That means that if you have multiple Chase Ink cards your cap goes a bit further, since each is good for up to 5 referrals. One Ink card also refers to all Ink cards.

Refer A Friend Offers

Historically the Chase refer a friend offers would give you 20,000 Ultimate Rewards points when your spouse, significant other, friend etc. signed up using your personal referral link. A while back Chase decided to super size that offer though, increasing it to an insane 40,000 points! That was like giving you an $800 present (assuming 2 cents per point value) for spreading the good word. It looks like the Fast Times At Ridgemont High are coming to an end soon though.

Chase recently sent out this email about the Ink referral offers program:

As of 9/3/2024, you’ll no longer earn 40,000 bonus points for each business. Instead, you’ll earn 20,000 bonus points for each business, up to 10, that gets approved.

I will say, it was pretty cool of Chase to give us an ample heads up on the change. That is something that doesn't always happen.

Why This Doesn't Change Anything

This reduction shouldn't change anything for you though. Why? First off, you have quite a bit of time to plan if you want to take advantage of the increased 20K referral offer for your player 2 (spouse or significant other). There is no need to rush to use this, or to change up your miles and points plan or pathway. Even at 20,000 points you are still getting icing on your cake, with the welcome offer being the prize to keep the eye on. There is no need to try to hit velocity that isn't good for you, or brute force some applications, for a mere 20,000 points.

Chase Ink Referral Offers: ToP Thoughts

While it is sad seeing Chase Ink referral offers getting chopped in half, they are still some of the best refer a friend offers out there. Hey, anything is better than the nothing Citi, Bank of America and US Bank offer! It also isn't worth the panic, or rushed applications, that we saw talked about in the ToP Facebook Group. Stick to your plan and stay on the path. Deviating for a mere 20,000 points could end up costing you a whole lot more than that.