Today, the referral offers on many business and personal Amex cards just got a whole lot tastier. Not only will you get a points bonus for referring a friend, but in many cases you will also now receive an additional 10x on up to $25K in restaurant purchases for 3 months, as long as you friend applies (and is approved) by 5/22/24.
Amex’s referral system has improved markedly over the past few years and it’s important to keep in mind that Membership Rewards or cash back-earning cards can refer to almost any other Amex card and earn a reward based on the card you used to generate the link. That makes these sorts of increased referral offers much easier to take advantage of.
The Deal
- Many American Express credit cards are now offering a referral bonus of +10x on up to $25K in restaurant purchases when you refer a friend by 5/22/24 (see your online account for your specific referral offers).
- The 10x on restaurant spend is in addition to the normal referral bonus and normal points-earning on the card.
- The following cards are part of this promotion:
Key Terms
- You must be the Basic Card Member of the account.
- No Referral Bonus will be posted to the account of the Additional Card Member, even for eligible referrals made by Additional Card Members.
- Referral rewards earned by the Additional Card Member will count towards the maximum annual limit of the Basic Card Member.
- You must submit referral(s) by 05/22/2024.
Quick Thoughts
Most cards that earn Membership Rewards points typically offer the referrer (the person who is referring a new cardholder) a set number of points per referral. That fixed number varies by card and cardholder, but we’ve seen anything from 7,500 points per referral up to 35,000 points per referral, typically with a cap of 100,000 points/year/Amex card (if you have 3 cards that earn Membership Rewards points, you can earn up to 100,000 points per year on each of those 3 cards from referring friends).
These new offers are different (and much better): along with earning that points bonus, the person making the referral will earn +10x Membership Rewards points on up to $25K in restaurant spending for three months. That’s a potentially lucrative deal as it means that you could earn up to 250,000+ bonus points thanks to a single referral…provided you can spend $8,333 per month in the dining category. That said, even if you only spent $2,000 on dining over the first three months, it would still get you 40K total on many cards (20K bonus + 20K from restaurants)…which is a killer referral offer.
Note that these 10x bonus points are in addition to the points you already earn with your card. For instance, if you use your Gold or Business Gold (as seen in the screen shot above) to refer someone to a new card, you would receive 10x bonus points on top of the 4x you already earn at restaurants, for a total of 14x. That’s a terrific return.
These increased referrals don’t seem to always refer to the best publicly-available offer. However, if you’re playing in 2-player mode, it’s important to factor in both sides of the referral when comparing one offer to another. If P2 is receiving 20K less than the best offer, but you get 20K for the referral bonus and 10x at restaurants for three months, it’s probably still worth doing.
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