Amex Cardholders Can Now Earn Up to 30K Points for Each Referral
American Express has a great referral system. You can refer people to almost any American Express credit card, and you can net some sweet referral bonuses as well. Just make sure to stay away from self referrals, as we have often mentioned here on the site. Just have a friend or family member refer you, or vice versa.
You can find referral links here. The amount you earn for every referral varies from one account to the other. It could be cash, Membership Rewards points, or hotel and airline rewards.
Update 11/28/20: People have been reporting seeing offers as high as 35K per referral in their account now.
Some Membership Rewards cardholders are seeing some amazing new bonuses for referring friends. The referral bonus has been increased to a whopping 30,000 Membership Rewards points for each person you refer and is approved for a new card. That is the type of bonus you wouldn’t mind for a new card, but instead you can just get it for referring someone.
The annual limit for referral bonuses is still at 55,000 points for each card that you refer from. But you can now maximize it with just 2 referrals. This seems to be targeted, so check your accounts and hopefully you have the increased bonus there.
American Express has been reporting referral bonuses as taxable income, whether it’s cash or points. You will receive a Form 1099-MISC for these points. Based on last year, each American Express Membership Rewards points is valued at 1 cent for tax purposes.
This is as good as it gets for referral bonuses. 30,000 Membership Rewards points arr worth close to $500, and you are getting them just for referring someone to sign up for a new cards. This is a great opportunity to apply for cards that normally don’t have a big welcome offer such as Blue Business Plus, or it can make the 60K offers for the Amex Gold or Platinum cards much better.
Let us know in the comments if you see the 30K referral bonus in your accounts!