Chase Is Halving Business Credit Card Referrals in 2025

Updated: December 13, 2024, 4:27pm CST

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Changes to Chase Ink Referral Bonuses in 2025
Why Credit Card Referrals Should Be Part of Your Points Strategy
Final Thoughts

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Right now, you can earn up to 200,000 Chase Ultimate Rewards points per year from referrals on your Ink business credit card. But that’s turning into a pumpkin at midnight on December 31, 2024.

Starting in 2025, the limit for referrals will drop to 100,000 points per account per year — half of the present amount.

Here’s what cardholders should know.

Changes to Chase Ink Referral Bonuses in 2025

If you have a Chase Ink small business credit card, you can refer other small businesses to the card. If their application is approved, you get 20,000 bonus Chase Ultimate Rewards points. You can create multiple referrals and earn up to 200,000 bonus points per year — all at no cost to you.

That’s set to change, as the 200,000-point limit is ending on December 31, 2024. Starting on January 1, 2025, your maximum per calendar year will be 100,000 points. (The 20,000-point bonus you get per person who signs up with your referral remains the same.)

Chase Ink referral bonus changing — Note about the referral bonus changes on my account. Image Credit: Chase

You’ll see this notice clearly if you create a referral link from the Chase referral page.

It’s still possible to refer friends and businesses to Chase credit cards. The referral maximum per approved account isn’t changing, and neither are the bonuses on other Chase credit cards. This change is only affecting Ink business cards so far.

Hot Tip:

We value Chase Ultimate Rewards points at 2 cents apiece, meaning your maximum referral amount will drop from $4,000 to $2,000 next year — no small difference!

Why Credit Card Referrals Should Be Part of Your Points Strategy

Chase isn’t the only bank with a referral program. You also can refer friends and small businesses to credit cards from American Express and Capital One. If you have friends and family members who also leverage credit cards to earn points, miles, and cash-back, you should definitely refer them to apply for a credit card whenever possible.

If your spouse, friend, or small business owner you know is going to apply for a credit card, you can and should generate a link for them that could offer you a reward after that person’s application is approved. Doing this repeatedly can provide significant value year after year, and there’s no cost to generate these referral links.

Final Thoughts

Starting in 2025, the maximum number of points you can earn annually from Chase Ink credit card referrals will drop from 200,000 to 100,000 per account — dropping the maximum total by half without changing the amount of points you earn per referral, thankfully. If you’re considering referring someone, you might want to do so before December 31.