Most people are aware that credit cards often offer rewards programs for their customers. These programs typically take the form of cashback offers, introductory periods of low or no interest, or points that can be redeemed at various retailers or restaurants. However, what many people miss are the rewards that come from referring friends and family to a preferred credit card.
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As part of a broader strategy to bring attention to these types of programs, Chase has attempted to bring its Refer a Friend program center-stage. The program, which has expanded in recent years, is intended to help current Chase customers bring people they know into the Chase credit card family while rewarding the person doing the referring.
What Is the Chase Refer a Friend Program?
Refer a friend programs aren’t new. Many companies over the years have utilized referral incentives to help build up their customer base, spread goodwill about their product or service, and gain the loyalty of their current clientele. Online companies and retailers have evolved their programs to make it easier to track and ensure the proper rewards are given out. As part of this evolution, companies often provide a personalized link or URL to current customers so they can email, text, or otherwise communicate it to their friends and families.
The Chase Refer a Friend program operates similarly. When you’re looking to refer a friend or family member, you receive a link that’s connected to your account. When the person you refer applies and is approved for a card, you receive a specific benefit.
Chase has grown this program recently to make it easier to refer someone. Those with a Chase Freedom credit card can still reap the referral rewards even if the person they’ve referred opens a Chase Freedom Unlimited card. Outside of the Chase Freedom brand of cards, though, you must have the type of card you’re trying to refer. For example, if you want to receive referral credit for a friend opening a Southwest Rapid Rewards card from Chase, you must already have a Southwest Rapid Rewards card, too.
What Are the Benefits?
Each Chase credit card offers different referral bonuses:
- Chase Freedom: $100 per referral, up to $500 annually
- Chase Sapphire Preferred: 15,000 bonus points per referral, up to 75,000 annually
- Southwest Rapid Rewards: 10,000 bonus points per referral, up to 50,000 annually
- United MileagePlus: 10,000 bonus miles per referral, up to 50,000 annually
- British Airways Visa Signature: 10,000 Bonus Avios per referral, up to 50,000 annually
- Marriot Bonvoy: 20,000 bonus points per referral, 100,000 annually
- World of Hyatt: 5,000 bonus points per referral, up to 25,000 annually
- Disney Visa: 100 Disney Reward Dollars per referral, up to 500 annually
- IGH Rewards Club: 10,000 bonus points per referral, up to 50,000 annually
These rewards are current as of November 2020, and, as you can see, each referral rewards come in a form that’s specific to each card. These generous rewards, though, are limited yearly to prevent any gaming of the system.
How Do You Use the Chase Refer a Friend Program?
While the process of using the Chase Refer a Friend program is fairly straightforward, you need to follow the steps precisely or risk not receiving your rewards:
- Apply for your Chase credit card if you don’t have one already.
- If you’re approved, you’ll receive your credit card in the mail shortly after.
- Head to the landing page for the Chase Refer a Friend program.
- Type in the requested information. This is usually your last name, your zip code, and the last four digits of your Chase credit card.
- Click “Copy Link” to copy your unique referral link.
- Paste your referral link in a text or email to the person you’re referring.
- Make sure the person you’re referring uses that link when applying for the credit card.
- Within 8 weeks, you should see your referral bonus on your statement as “Refer-a-Friend Bonus.”
Again, it’s important that you send the specific link provided to you and that the person you’re referring uses that specific link to apply. If you send the correct link but your friend doesn’t use it, or if you send the wrong link, you won’t receive the bonus.
You can also find your link through the Chase mobile app. Once you’re logged in, select the credit card account you’re trying to refer, then scroll down and press the “Refer Friends” link.
Does Chase Offer Referral Bonuses for Deposit Accounts?
You don’t need to have a Chase credit card to utilize the referral program. If you have a Chase checking account, you can refer a friend and receive $50 once the person opens an eligible account and finish any qualifying activities. With this program, you can receive up to $500 in referral bonuses each year.
For more information about credit cards or banking accounts, make sure to check out the help available at MoneyMash.