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I covered this yesterday but it got very few reads, because I undersold its significance just flagging it as an interesting new referral (‘member-get-member’) offer. However the potential here is incredible – successfully refer someone to an American Express card you have, and you’ll earn an extra 3 points per dollar (even on already bonused spend) for all your purchases for 3 months. This is potentially huge if you have big spend ahead of you.
American Express lets cardmembers earn points when they refer a friend who applies and is approved for a new card. You’re generally limited only to referring friends and family for cards you already have yourself.
From October 1 through October 28 they’re adding a new bonus to encourage people to refer friends. In addition to the standard points that they’ll give for a successful referral, they’ll also let someone who successfully refers someone earn 3 more points per dollar (or earn 3% more cash back) for the next three months.
Qualifying Card Members will receive an additional three (3) rewards per eligible dollar spent on their Card account (for the Card referred) for three (3) months, starting from the date the referral results in an approved account. The additional three (3) rewards will be applied to rewards categories for which eligible purchases are rewarded with cash back, Membership Rewards® Points, Delta Bonus Miles®, Hilton Honors Bonus Points or Marriott Bonvoy Points.
The 3 extra points (or 3% extra cash) even applies to categories where you earn bonus points to begin with. If you earn 4x at restaurants normally, this gives you the potential to earn 7x. (However the EveryDay card monthly bonus for transaction volume won’t also bonus these extra points.)
If you’re going to be doing a decent amount of spending, it can be helpful to have a friend or family member referred to a card first.