Chase now offering up to 200,000 bonus points for select business card referrals [possibly targeted]

Chase is sending out emails to holders of its own business cards (i.e. not co-branded cards) offering boosted bonuses on card referrals. It’s not clear whether this is a targeted promotion, but there’s a way to check whether you have access to it.

The boosted bonuses

Ordinarily, Chase allows holders of its own business cards (e.g. Ink Business Preferred® Card, Sapphire Reserve® for Business card etc…) to earn 20,000 points ($200 in the case of the cash back cards) per successful referral. Through 31 December 2026, however, this has now been doubled for some (possibly all) holders of these business cards.

Note: The person being referred must be a new Chase Business customer and so cannot already hold any Chase business cards.

Key terms

Specific to Ink Business Preferred and Sapphire Reserve For Business Cardmembers:

• You can receive 40,000 bonus points for each business owner you refer through this Refer-A-Business offer, who is approved for the card.
• Maximum bonus points accumulation for this offer is 200,000 bonus points.

Specific to Ink Business Unlimited, Ink Business Cash and Ink Business Premier Cardmembers:

• You can receive 40,000 bonus points, which can be redeemed for $400 cash back, for each business owner you refer through this Refer-A-Business offer, who is approved for the card.
• Maximum bonus points accumulation for this offer is 200,000 bonus points (which can be redeemed for $2,000 cash back).

General terms applicable to all:

• If 10 or more of your friends use the referral URL within a month to apply, at Chase’s discretion you may not receive any bonus points for the friends who apply that month and are approved for the card.
• Business owners must be new Chase for Business card customers. Referrals of individuals with existing Chase for Business card accounts will not qualify for the referral bonus.
• Participating Chase for Business Credit Cards include:
  • Chase Ink Business Unlimited®
  • Chase Ink Business Preferred®
  • Chase Ink Business Cash®
  • Chase Ink Business Premier
  • Chase Sapphire Reserve for Business.
• You may earn bonus points up to the stated maximum for each offer, however, please note that if you take advantage of multiple opportunities within one calendar year that the maximum number of bonus points that can be awarded from all referral offers is 200,000 per calendar year.
• In the event the bonus points you earn from all referral offers exceeds the 200,000 per calendar year limit, you may be awarded a partial amount to keep your total bonus at 200,000 bonus points. For example if you have already accumulated 190,000 bonus points from refer-a-friend offers that calendar year and the maximum is 200,000 bonus points per calendar year, then the next award will be 10,000 even if the offer states 40,000.

Check your Chase online account for full terms.

Check if this applies to you

I received an email from Chase (which I nearly deleted without reading!) with a subject line that reads:

“[Name], this is your invitation to earn up to 200,000 bonus points.”

So job one would be to check if you’ve received such an email (don’t forget to check your junk/spam folders as well).

If no email turns up, head over to Chase.com and log in to your business account.

From there, select one of your Chase business cards (not a co-branded one) and click on the “More” button to open up a long drop-down menu (see below).

Now click “Refer a friend” from the menu options in front of you.

If this boosted offer is available to you, you should see it here.

Using the referral link that Chase set up for me, this is what I see the offers look like:

As far as I can tell, these are the currently available welcome offers published on the Chase website so anyone you refer isn’t getting a worse (or better) deal than had they gone directly to Chase.

Quick thoughts

A key thing to note from terms is that if you send them a wave of new applicants in one month, they are liable to view this as an organized effort to generate points and will not credit you with any points at all.

A second key thing to note is that Chase will only pay out if you successfully refer someone who doesn’t already hold a Chase business card account. It’s not clear if this includes people who only have a card from a business checking account, but I would assume that it does to be on the safe side.

Bottom line

Chase is now offering up to 200,000 bonus points or $2,000 in cash back to holders of select business cards who refer new business to them by 31 December 2026. Only holders of Chase’s own cards are being given this offer, so if you only hold a co-branded card, you’re out of luck.

Have you been emailed with this offer or have access to it in your Chase account?

The Traveling for Miles referral link