Chase has some great deals for cardholders and this includes the ability to refer friends and family to cards they hold themselves and earning points when those people are approved. Many Chase Sapphire Preferred cardholders have been waiting for this to happen with the new offer and that has now happened!
Refer the Chase Sapphire Preferred and Earn Points
Step 1 – Chase Referral Page
Follow this Chase link – here – to start the process of generating your own Chase referral link. This will be what you need to give to friends and family to earn bonus points when they are approved.
Next, you need to enter your last name, the billing zip code, and the last 4 digits of your Chase Sapphire Preferred. This will generate your personal referral link.
Now that you have your link, you can share it over e-mail, social media, text message – anything! You will earn 15,000 Chase Ultimate Reward points for each person that is approved using your link. The cap is 75,000 points in a calendar year.
In turn, the person that applies through your link will receive 80,000 Chase Ultimate Reward points after they spend $4,000 in the first 3 months. They will also earn a $50 statement credit on grocery purchases.
There is a handy graphic at the bottom of the referral page to show you how many referrals you have already received! Use this to keep up with it and this way, if you have another person in your family with the same card, you can switch to their referral if you max out yours. Note that authorized users do not receive referral points.
Step 3 – Taxes!
If you receive more than $550 worth of points from Chase in a year due to referrals (Chase counts them at 1 cent per point), you will receive a 1099 for this tax year, next year. So, be on the lookout for that! If you reach the cap, you will receive a 1099 for $750 (if they continue to value it as in years past).