Chase Ink Referrals Increased to 40K, Max of 200K/Year

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Update: There are many reports of Chase matching the 90K bonus after applying thorough referrals for the 75K welcome offer. Now some reports are popping up that Chase might also match the referral bonus. So if you referred people while your referral bonus was only 20K, you can reach out to Chase and ask them to match you to the new 40K referral bonus. You can do so by phone or secure message. Let me know if it works for you.

Also make sure to apply for the two Ink card offers soon, possibly by the end of the week. The 90K offers for Chase Ink Business Cash and Chase Ink Business Unlimited are going away later this month.

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Chase today revealed the end date for two best ever offers on the Ink Business Cash and Ink Business Unlimited cards. You can earn a bonus of 90,000 Ultimate Rewards points with either card, when you spend $6,000 within the first 3 months. These offers end on March 21st, 2023 at 9am EST.

When the end date was announced early in the morning, strangely the referrals page stopped working. So it was not possible to generate new referrals. But a few hours later the referrals page was up and running with a pleasant surprise. The referral bonuses are now doubled, but the bonus through these referrals is lower, only 75K. Check out the details of these new referral offers below.

40K Ink Referrals

You can find the referral page for all Chase credit cards here. You just enter your last name, zip and last four digits of the card number to generate a referral link. 

Ink Bold, Ink Business Preferred and Ink Plus Cardmembers

Earn Up To 200,000 Bonus Points: You can receive 40,000 bonus points for each business owner you refer through this Refer-A-Business offer (up to 5), who is approved for the card. Maximum bonus points accumulation for this offer is 200,000 bonus points. 

Participating Chase Ink Business Credit Cards include: Chase Ink Business Unlimited®, Chase Ink Business Preferred®, Chase Ink Business Cash®, Chase Ink Business Premier®. 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 180,000 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 20,000 even if the offer states 40,000. 

Please allow up to 8 weeks after each new cardmember’s approval for bonus points to post to your account. You are not eligible for a referral bonus if you use your own referral URL to apply for a different card.

Ink Business Unlimited, Ink Business Cash and Ink Business Premier Cardmembers

Earn Up To $2,000 Cash Back: 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 (up to 5), 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). 

Participating Chase Ink Business Credit Cards include: Chase Ink Business Unlimited®, Chase Ink Business Preferred®, Chase Ink Business Cash®, Chase Ink Business Premier®. 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. 

Tax Implications

The value of this offer or program may result in miscellaneous income received from Chase and we may be required to send you, and file with the IRS, a Form 1099-MISC (Miscellaneous Information) or Form 1042-S (Foreign Person’s U.S. Source Income Subject to Withholding) for the year in which you participate and are awarded the benefits of the offer/program. You are responsible for any tax liability related to participating in the offer/program. Please consult your own tax advisor if you have any questions about how this could affect your taxes.

Old Referrals Still Works

The old referrals are still working and they show a 90,000 points bonus for the Ink Business Cash and Ink Business Unlimited cards. But the referrer only gets 20,000 points.

Don’t have the old referral saved? No worries! You still might be able to find it in your emails. Check for emails that were sent out by Chase last month with subject “<Name>, this is your invitation to earn up to 100,000 bonus points”. These emails were invitation to refer friends and family members and include the referral link. That link shows the 90K bonus.

Best Option?

If you are looking for the best points total, then applying through the new referral links is the best option. You get 40,000 points from the referral and another 75,000 from the welcome bonus. That’s a total of 115,000 Ultimate Rewards points.

With the old referrals you get 20,000 from the referral link and another 90,000 points from the sign up bonus. That’s a total of 110,000 Ultimate Rewards points.

However, you have to pay tax on the referral bonus. So based on your tax bracket, the old referrals could be a better option.

Guru’s Wrap-up

This is the best time to apply for the Chase Ink Business Cash and Ink Business Unlimited credit cards. These 90,000 points offers are the best we have seen and they are available through referrals as well. That makes it possible to get a total of 110,000 or 115,000 Ultimate Rewards points.

Just keep in mind that these cards fall under the Chase 5/24 rule, although they don’t count towards 5/24 since they are business cards. There are some recent data points of people getting approved even at 5/25 or higher, myself included. Let me know in the comments if this has worked for you.

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