Like some other rewards credit card issuers, American Express regularly offers its cardmembers referral bonuses for suggesting new customers. How it works is, if you have an Amex card, you can log into your account via a referral page. You then enter the names and contact information for friends whom you would like to suggest as possible applicants for one of the same cards that you already have. If someone on your list applies for the same card and is approved, you can expect a bonus or other benefit. Referral bonuses tend to be a few thousand points with a certain maximum – for instance up to 5,000 points per approval and a total of 50,000 points.
More People, More Points
In a bid to entice new applicants across its entire range of both business and consumer cards, however, American Express is launching an unprecedented set of referral offers called, “3 For All.” In addition to earning a one-time points bonus as the referrer, cardholders can also earn triple points or cash back on purchases for the next three months. Here are the details.
Now through October 28, if you have an American Express consumer card (so a personal card as opposed to a business one) and refer a friend for any consumer or business card and your referral is approved, you can earn three more points or three percent more cash back per dollar you spend for the next three months. Not only that, but card members receive another 7,500 Amex Membership Rewards points for each approved referral, up to a potential total of 55,000 points. If you are referred by someone else and end up getting a card, you can also send out referrals of your own as soon as you’re approved. To see what your own offers might be, you need to log into this special Amex portal and review the terms and conditions.
What Sets This Offer Apart?
There are a couple of interesting things to note about this offer and why it’s so special. First, with both American Express and other issuers, you can usually only refer people for the same cards that you have. In this case, however, as long as you have a consumer Amex product, you can refer folks for other personal and business cards, which ups the potential for scoring these bonuses tremendously.
Second, you usually only receive a one-time points haul – it tends to be between 5,000-10,000 per approval, depending on the card and the issuer. In this case, though, you have three months to earn even more bonus points on your purchases as well. It’s an interesting strategy to get consumers spending more with their Amex cards, and is in line with the bank’s other recent moves to enhance earning and benefits tailored to folks altered financial needs during these trying times.
Bonus Points, Bonus Cash Back
To put this into perspective and see just how many points someone could earn, let’s say you had the American Express Gold Card. Normally, it earns four points per dollar on up to $25,000 per calendar year in purchases at U.S. supermarkets (then one point per dollar); four points per dollar on restaurants, including takeout and delivery; three points per dollar on flights booked directly with airlines or on AmexTravel.com; and one point per dollar on everything else. If you have this card and successfully refer a friend, you could bring your earning to a whopping seven points per dollar on dining and groceries (up to the supermarket category cap), six points per dollar on eligible airfare, and a pretty fantastic four points per dollar on everything else. In short, your new everyday earning would be equivalent to this card’s normal earning ability in its highest bonus categories. Not only that, but you could also expect 7,500 bonus points per referral, pulling your points haul even higher.
For another example, if you have the Blue Cash Preferred Card from American Express, you normally earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); 6% back on select U.S. streaming subscriptions like Disney+ and Apple TV+; 3% back on transit including taxis, rideshares, parking, tolls, trains, and buses; 3% back at U.S. gas stations; and 1% back on all other purchases. So at normal times, this card is a top all-round earner for cash back. But if you are able to take advantage of this promotion, you could earn an astonishing 9% cash back on eligible purchases at U.S. supermarkets and streaming subscriptions, 6% back on transit and gas; and an everyday rate of 4% back on other purchases, which is truly incredible.
If you have an American Express consumer card, it’s well worth taking advantage of this limited-time promotion, not only to refer friends to some the excellent welcome offers Amex is currently fielding, but also to supercharge your own points and cash-back take on the things you use your credit card to purchase. Those points or the statement credits you can put cash back toward can come in handy for when you want to book travel using your rewards, or to redeem for other expenses in the meantime.