Key takeaways
- Credit card referrals allow you to earn rewards by recommending a card to family and friends.
- The average credit card referral bonus is worth between $50 and $150, and many credit card issuers allow you to earn multiple bonuses.
- Referral programs are subject to change, so make sure you take advantage of credit card referrals while they’re available.
Want to earn more credit card rewards? While most people already know how to earn points, miles or cash back by making purchases, booking travel or using shopping portals, you might not be aware that some credit issuers allow you to earn rewards through credit card referrals.
Credit card referrals aren’t exactly an industry secret, but many people don’t take advantage of this quick and easy way to earn additional rewards. If you can get a friend, family member or coworker to sign up for one of your favorite credit cards, you may be able to earn valuable points, miles or cash back. Here’s what to know about credit card referrals.
What is a credit card referral bonus?
A credit card referral bonus is an incentive that credit card issuers offer to cardholders who invite their friends or loved ones to apply for a card. It usually comes in the form of a specified amount of cash back, points or miles.
The rules for earning a referral bonus vary by credit card issuer. Some have a standard set of offers, while others personalize them for you. The process, however, is generally the same: A cardholder shares a link that their friend can use to apply for the card. Once the friend is approved, the cardholder gets the bonus — and some issuers reward the friend too.
The average credit card referral bonus is worth between $50 and $150, but keep in mind that you can often earn multiple bonuses for multiple credit card referrals. Most credit card issuers cap the number of bonuses you can earn in a calendar year, often limiting you to $500 in referral bonuses annually.
When you refer credit cards to friends, you may want to mention the recommended credit score — especially if you aren’t sure whether your friend has good credit. Many of today’s top credit cards require good to excellent credit.
Referral bonus programs by issuer
If you’re eager to earn more points this year and think you could get a friend or loved one on board, it’s smart to figure out which of your cards offer referral programs and how much you could earn.
Here’s a rundown of the major card issuers and their referral programs:
| Credit card issuer | Referral bonus program |
|---|---|
| American Express | Amex provides you with a customized referral link to send to family and friends. If they apply with your link and are accepted, you’ll get a bonus that varies by card type. |
| Bank of America | N/A |
| Capital One | Capital One provides you with a customized referral link to send to family and friends. They must be new Capital One cardholders who apply and are accepted in order for you to get the bonus. You can earn up to $500 total before Capital One stops rewarding you for referrals. |
| Chase | Chase allows you to choose specific cards to refer to friends and family. If they apply using your customized link and are accepted, you’ll get a bonus that’s specific to the card or card family you referred to them. |
| Citi | N/A |
| Discover | Discover provides you with a customized referral link to send to family and friends. You and your friend will get a referral bonus if your friend is approved and makes a purchase using their new card within a certain time period from account opening. |
| Wells Fargo | N/A |
How to access each issuer’s referral bonus program
Here are the steps you should follow to take advantage of each issuer’s major referral bonus program:
American Express
- Head to the Amex Refer a Friend Program and log in to see your offers.
- Send your customized referral link to friends and family via email or text.
EXPAND
When your friend or family member uses your referral link to apply for an American Express credit card, they’ll be able to choose from any of the eligible personal and business credit cards Amex offers.
Capital One
- Visit the Capital One Refer a Friend Program page and long into your account.
- If you’re eligible, get your personal referral link and share it with your friends and family.
