Earlier this Fall, Chase downgraded the referral offers on the Chase Ink Business Preferred, Ink Business Unlimited and Ink Business Cash cards so that the referrer could only earn 20K Ultimate Rewards points per referral, which was 20,000 points below the previous offer of 40K.
Now, Doctor of Credit has noticed that yearly maximum will be going down as well. Until 12/31/24, it’s still possible to earn a total of 200,000 points per year from referrals. As of 1/1/25, that yearly max will be 100K.
What’s Happened
- Chase has reduced the refer-a on the Ink Business cards from 40K per referral to 20K each.
- Starting 1/1/25, the yearly maximum will go down from 200,000 total points from referrals per year to 100,000.
- Check the Chase Refer-A-Friend site to find your referral link.
Quick Thoughts
Referring Chase Ink cards can be very attractive if you are referring another player within your household. The way that it works is that, in a two-player household, Player 1, who has an Ink card, refers Player 2 to an Ink card. When Player 2 is approved, Player 1 would earn 20,000 points and Player 2 would be set to earn whatever the referral welcome bonus is. The Player 2 can then refer back to Player 1 and start the whole process over.
Household Ink referrals will still be appealing with the lower bonus thresholds, but man that 40K/200K is a train that we’re sad to see depart.
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The reason referring friends to Chase is a waste of time for workers in the 35% tax bracket is because Chase sends a 1099 on the value of the points they give you and paying tax on that almost wipes out the benefit financial benefit. However, for the unemployed or low-income earners there is a financial benefit.
[…] Just a quick head’s up that Chase has announced an end to the incredible refer a friend bonus caps on the Chase Ink cards which started in October of 2023. Prior to 10/23, it used to be capped at 20k per referral, up to 100k a year, but then we were given an incredible increase to 40k per referral with a cap of 200k in a year. That was a great time to refer friends. Well, Chase has decided to revert back to the offer that existed pre October 2023. The total amount of points you can earn per year will drop to 100k after 12/31 with 20k per referral. H/T FM […]
Speaking of Ink, what’s the skinny on a new business version of the CSR?
Do you know if this is per card, per business, or per person?