Are credit card referrals a thing?

[OSUshiRoll]

I recently received an email from my credit card provider notifying me of the reward points increase for referring friends. Not sure of how it works but it says you get xxxxx points for each approved friend that uses your link. I know folks on here can provide referral services such as Uber eats or Lyft and wanted to know if this is ever done for something like credit cards as well. It is my primary use credit card so I’d be concerned of cancellation etc. I attempted a search in case this was already asked but didn’t see one.

[FanticSteal]

Never heard of credit card referrals before. Not even shitty companies like Walmart credit cards have referral rewards.

[OSUshiRoll]

Never heard of credit card referrals before. Not even shitty companies like Walmart credit cards have referral rewards.

From the email:

“OUR BEST OFFER EVER: Earn up to 100,000 bonus points per year by referring friends for the Chase Sapphire Preferred® Credit Card. That's 20,000 bonus points for each friend who gets approved.

100,000 bonus points is worth $1,250 towards travel when you redeem through Chase Ultimate Rewards.“

Then below that it says:

“ That's 20,000 bonus points for each friend who gets approved for the card, up to 5, per year.”

Confirmed that’s it’s not spam or anything. It’s direct from Chase with my referral link. Idk, probably not worth messing with?

[FanticSteal]

From the email:

“OUR BEST OFFER EVER: Earn up to 100,000 bonus points per year by referring friends for the Chase Sapphire Preferred® Credit Card. That's 20,000 bonus points for each friend who gets approved.

100,000 bonus points is worth $1,250 towards travel when you redeem through Chase Ultimate Rewards.“

Then below that it says:

“ That's 20,000 bonus points for each friend who gets approved for the card, up to 5, per year.”

Confirmed that’s it’s not spam or anything. It’s direct from Chase with my referral link. Idk, probably not worth messing with?

Honestly if it's real then why not refer some friends that want a credit card? Just the downside is that if they want one they need a credit check and will lose some credit but that's about it.
But still never heard of anything like that

[Coorslight]

I recently received an email from my credit card provider notifying me of the reward points increase for referring friends. Not sure of how it works but it says you get xxxxx points for each approved friend that uses your link. I know folks on here can provide referral services such as Uber eats or Lyft and wanted to know if this is ever done for something like credit cards as well. It is my primary use credit card so I’d be concerned of cancellation etc. I attempted a search in case this was already asked but didn’t see one.

well credit card referral programs are real. For example American Express offers good referral rewards like 20k Skymiles points or whatever, just check the source and if you have doubts just call the CC company and ask.

[SellingStealth]

they exist, apparently it costs credit card companies like $300-500 for customer acquisitions. So paying $100 to convince your friends is a good deal for them