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Chase has announced a new incentive for referring friends to the Chase Sapphire Preferred Card and Chase Sapphire Reserve. Existing cardholders can now earn 10,000 bonus points for each accepted applicant, with a maximum of 100,000 points per calendar year. Previously, the referral bonus was 15,000 points per applicant, capped at 75,000 points annually. Upgraded Points first reported this change.
According to TPG's March 2025 valuations, these points are worth $205 per approved applicant. Referrals can be made through a referral link accessible via Chase's referral page.
New applicants using a referral link can earn 60,000 Ultimate Rewards points after spending $4,000 within the first three months. This welcome bonus is valued at $1,230 based on current evaluations.
