Chase is once again boosting referral bonuses on its business credit cards, reversing a move earlier this year that cut payouts in half.
Eligible cardholders can now earn up to 40,000 Ultimate Rewards points per approved referral through December 31, 2026, and up to 200,000 points annually — a significant jump that makes recommending Chase business cards much more rewarding again.
Here’s what you need to know.
Chase Restores 40K Referral Bonuses Across Business Card Lineup
Last year, Chase halved its business card referral bonuses, dropping them from 40,000 points per approved referral to just 20,000 points, with a maximum earning cap of 100,000 points per calendar year. Now, the issuer is reversing course in a big way.
Eligible cardholders can once again earn 40,000 Ultimate Rewards points for every approved referral, and Chase has also doubled the annual cap from 100,000 points to 200,000 points per calendar year. That means just 5 successful referrals could get you a massive 200,000-point haul.
Under the updated offer, eligible Chase business cardholders can now earn:
- 40,000 bonus points per approved referral
- Up to 5 successful referrals
- A maximum of 200,000 bonus points per calendar year
The elevated referral bonus is currently showing on Chase’s business referral page.
This renewed referral offer applies to several popular cards, including:
- Ink Business Preferred® Credit Card
- Ink Business Cash® Credit Card
- Ink Business Unlimited® Credit Card
- Sapphire Reserve for Business℠
The increased referral payouts are scheduled to remain available through December 31, 2026.
One important thing to note: Chase states that referred applicants must be new Chase business card customers in order for the referrer to qualify for the bonus. In other words, if the person you are referring already has an existing Chase business card account, then you might not receive any points — even if the application is approved.
It’s still unclear how aggressively Chase plans to enforce this policy in practice, but it’s definitely something cardholders should keep in mind before sending referrals to someone who already has a Chase business card.
Still, for many cardholders, the return to 40,000-point referral bonuses is a welcome improvement. Considering Ultimate Rewards points can be transferred to airline and hotel partners like World of Hyatt, United Airlines MileagePlus, Air Canada Aeroplan, and Singapore Airlines KrisFlyer, a few successful referrals could easily translate into very valuable travel rewards.
Final Thoughts
Chase is making business card referrals way more rewarding — back to what they used to be. With referral bonuses back up to 40,000 points per approval and the annual cap doubled to 200,000 points, eligible cardholders have a much bigger opportunity to rack up valuable Ultimate Rewards points through the end of 2026.