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What are credit card referral bonuses?
Credit card referral bonuses are rewards that your credit card company give you.
You can receive cash, miles, or points.
You receive it by referring your friends or family to credit cards you already have.
You only receive it if your friends are approved for the credit card though.
This can add up to hundreds a year.
For instance, the Chase Freedom and Capital One Venture card both offer $100 per referral up to five referrals a year.
If you have a business it gets even better.
Cards like the Ink Preferred Business credit card offers $200 for each referral.
While this will not replace your income, it can give you some pretty nice spare change.
That is possibly $500-$1000 for each card if you used the maximum number of referrals (five).
You like your credit card, so your friends and family might like it too.
How do credit card referral bonuses work?
Many people know they can earn cash back or travel miles on their credit cards for sign-up bonuses.
Many also know they can put their normal spend on their card like groceries and gas and again receive either cash, miles, or points.
However, not many people know they can get cash back or miles for referring their friends though.
After you refer your friends, and they sign up, you both get rewarded.
The friend gets the sign-up bonus for opening the card.
You get referral money, miles, or points.
The referral bonus is usually in the form of the currency of the card.
For example, the Delta credit cards are in the form of miles.
Discover cash back cards are in the form of cash.
There is a Discover It Miles card though.
It is in the form of miles.
Why do credit card companies give you free money?
Credit card companies want new customers.
They are willing to pay for them too.
Getting new customers is no easy feat for either a small or large businesses.
When credit card companies get and keep loyal customers, they profit.
Cash vs travel rewards
Again, some referrals will be cash.
Some will be in points and miles.
Travel miles usually give you more bang for your buck.
If you travel, this is probably the better deal.
Of course, sometimes you may just want cold hard cash.
How do you get started?
Most issuers will give you a unique link.
You go to the website of your credit card company and log in.
There should be a place on the page to get this link.
Some will just ask for your friend or family members e-mail address.
Not all credit card companies offer referral bonuses.
Credit card companies that issue referral bonuses:
- Chase
- American Express
- Discover
Some good referral bonuses:
- Chase Sapphire Preferred 15,000 points
- Chase Freedom $100
- American Express Blue Cash Preferred $100
- Ink Business Preferred $200
- Capital One Venture $100
- Delta Gold 10,000 Skymiles
Is there a limit to how many credit card referral bonuses per year?
Yes.
Generally, you can refer up to five friends a year.
Some companies will let you refer more than that while others allow less.
Make sure to read the rules.
Other Referral Programs
Credit cards are not the only referral program out there.
They are probably the most lucrative though.
Other types of programs you can refer your friends and family to:
- Receipt scanning apps
- Survey sites
- Cash back sites
- Discount gift cards
- Other
Basically, anything you use has some kind of referral program.
I recently signed up for the Get Upside gas program.
It was not in my area before.
After signing up, I was immediately told I could save $.20 per gallon if I refer my friends.
You should get your friends and family to sign up for as many programs as possible as long as it is something you enjoy.
Here are some of the best referral programs in each of the following categories:
1. Receipt Sanning Apps
- Ibotta: Sign up here, Get $10
- Checkout 51: Sign up here
2. Survey Sites
- Swagbucks: Get $13, Sign up here
- My Points, Get $10, Sign up here
- Inbox Dollars, Get $ 5, Sign up here
3. Cash back sites
- Rakuten, Get $10, Sign up here
- TopCashback, Sign up here
- Swagbucks, Get $13, Sign up here
- Be Frugal, Get $10, Sign up here
- Mr. Rebates, Get $5, Sign up here
Cashback sites usually offer a $10 sign up bonus.
it can take months to get this, but if you sign up for all, you can get a $100 in sign-up bonuses.
Then refer your friends and make more money.
Use our best app page here.
4. Discounted gift card sites
- Raise
- Gift Card Granny
4. Other
Basically, most programs have a referral bonus, so the list would go on.
Here are some more examples:
- Get Upside
- Aspiration, Get $50 for using this link, then refer your friends another $50 each
- Dosh app
Summary
Credit card referrals are a great way to make some extra money.
Again, you can make hundreds a year.
A lot of people don’t notice that their credit cards has a referral program.
If you have a credit card with a referral program, use it.
As you see, referrals don’t have to stop at just credit cards.
You can make referral money from everything from Ibotta to gas reward programs to cash back sites.
If you are not using some of the other referral programs I mentioned, use our links above to sign up.
Most programs have a sign-up bonus, so you can get a that and referral money too.
We keep this site running by links, so again use our links.
Referral programs are a great way to put some extra money in your pocket.
Have you ever earned a credit card referral bonus?