Capital One Refer a Friend: Key insights about this rewarding program

The quickest way to rack up a significant amount of points, miles, and cash back each year is through credit card welcome bonuses. These offers can be highly rewarding, and selecting the optimal credit card for every purchase (according to the spending category) can boost your points balance by thousands annually.

A fantastic method for earning points and miles effortlessly is by referring friends and family for credit cards. This often-overlooked tactic can result in thousands of dollars in cash back or miles each year without requiring any extra spending from you.

Discover how you can utilize this program to refer friends, family members, and small businesses for Capital One credit cards — while reaping substantial bonuses along the way.

Capital One Refer a Friend Program

With Capital One Refer a Friend, you can share a unique link to recommend credit cards to others. When your friend, family member, or colleague uses this link to apply, they can receive a welcome bonus just like any standard application.

By utilizing your custom link, you (the referrer) can earn a bonus once the person you referred applies for and gets approved for a credit card. They need to start and complete their application using your link for you to qualify for the bonus.

The referral bonus will be awarded in the same form of rewards that your credit card typically offers. So, if you refer someone for a cash-back card, you’ll earn a cash bonus, while referring a card that earns Capital One miles will yield miles, with statement credit also available as a bonus option.

For more information, visit the Capital One Refer a Friend page found here.

Capital One Refer a Business Program

If you hold a small-business credit card from Capital One, you can take advantage of the Refer a Business program to earn referral bonuses on these cards. You’ll receive cash bonuses for cash-back cards and miles for cards that accumulate those rewards.

Adding extra bonuses of cash or miles should enhance your business's current credit card strategy, allowing you to maximize your rewards.

For further information, check out the Capital One Refer a Business page at this link.

Eligible Cards for Referrals

The good news is that all personal and business credit cards are eligible for referrals, provided your account remains in good standing.

This means you can refer individuals for personal credit cards from the Venture, Quicksilver, Savor, and Platinum ranges, as well as for business cards from the Spark Cash and Spark Miles collections.

Earn bonuses for your referrals

The Capital One Refer a Friend and Refer a Business programs provide tailored offers. This means that not everyone will see the same bonuses when they create a referral link from their credit cards. However, here are some typical bonuses you can anticipate when referring someone for a Capital One credit card:

• Capital One Venture X Rewards Credit Card: Receive 25,000 bonus miles for each successful referral — up to 100,000 bonus miles per calendar year. Discover more about how new cardholders can secure an elevated bonus on the Venture X.
• Capital One Venture Rewards Credit Card and Capital One VentureOne Rewards Credit Card: Earn between 10,000-20,000 bonus miles for each approved referral — up to 50,000 bonus miles per calendar year.
• Capital One Quicksilver Cash Rewards Credit Card: Get $100-150 for every approved referral — up to a maximum of $500 per calendar year.
• Capital One Spark Cash Plus and Capital One Spark Cash Select: Earn $200 for each approved referral — up to $1,000 per calendar year.
• Capital One Spark Miles for Business and Capital One Spark Miles Select for Business: Receive 10,000-20,000 bonus miles for each successful referral — up to 50,000 bonus miles per calendar year.
• Capital One Savor Cash Rewards Credit Card and Capital One SavorOne Cash Rewards Credit Card: Earn $100-150 for each approved referral — up to $500 per calendar year.
• Capital One Platinum Credit Card and Capital One QuicksilverOne Cash Rewards Credit Card: Receive $100 for each approved referral — with a maximum of $500 per calendar year.
• Capital One Platinum Secured Credit Card and Capital One Quicksilver Secured Cash Rewards Credit Card: Get $50 for each approved referral — capped at $500 per calendar year.
• Capital One SavorOne Student Cash Rewards Credit Card and Capital One Quicksilver Student Cash Rewards Credit Card: Earn $100 for each successful referral — up to a total of $500 per calendar year.

The details for the Spark Miles Select and Savor Cash cards have been independently gathered by Dinogo. The information provided on this page has not been reviewed or supplied by the card issuer.

How to Create Referrals

To create a referral, visit the Capital One Refer a Friend page found here. If you're referring someone for a small-business credit card, you'll need to access the Refer a Business page at this link.

Once you log into your Capital One account, you can easily copy your referral link.

After you click the blue "Copy" button, a message will confirm that you've successfully copied the link.

If you share this link with a friend or family member, they will encounter this screen when they use it to apply.

You can also create a referral link through the Capital One mobile app. Simply go to your credit card account details and scroll down.

Next to the options for replacing your card and checking recent statements, you'll find the "Refer a Friend" feature.

On this page, you’ll find details about your referral bonus along with a "Refer a Friend" button at the bottom to copy your referral link.

You don't have to know the individual you're referring. Sharing your referral link online or on social media could lead to unexpected referrals.

You can refer cards that you don't personally hold.

Some banks allow you to create a general referral link. This way, you can direct a friend to a page with several credit card options, enabling them to select the best card for their needs.

Capital One offers this option as well. For instance, if you hold the Capital One Venture card, you can earn bonuses for the Venture X card.

Referral bonuses might be subject to taxes

It's important to note that banks may issue a 1099-MISC tax form for any referral bonuses you earn. Unlike rewards gained from credit card purchases or welcome bonuses—which are typically treated as discounts on goods—referrals are categorized differently.

Consequently, you might receive tax forms for any cash bonuses, miles, or statement credits accrued from referring friends and family for credit cards. If you're uncertain about how this might impact you, it's advisable to consult with your tax advisor or attorney.

Referral bonuses are not awarded instantly

Regrettably, you won’t get your referral bonus immediately after your friend applies for and is approved for a Capital One credit card. Capital One indicates that it may take up to eight weeks to receive these bonuses, although it typically happens faster.

If a significant amount of time has elapsed and you are certain that the individual used your link to apply, you can call the number on the back of your card to check on a missing referral bonus.

Circumstances under which you might not receive a referral bonus

There are occasions when you may not earn a bonus through Capital One’s Refer a Friend or Refer a Business programs. The following conditions apply:

• Your account needs to be active and in good standing to qualify for referral bonuses.
• The individual must initiate their application using your link, complete the process, and be approved for an account in order for you to receive the bonus. If they don't finish the application through the link you provided, no bonus will be awarded.
• The person using your link must be approved for the credit card; otherwise, you will not earn a referral bonus.
• If either you or the person you refer is a Capital One employee, you may not be eligible for a referral bonus.
• You won't receive a referral bonus if you have exceeded the annual referral limit associated with your account.

If any of these conditions apply to you or the person using your referral link, it’s possible that you won’t earn a bonus.

In summary

Referral bonuses should be considered as part of any long-term credit card strategy, alongside retention offers, using the appropriate credit card for each purchase, and leveraging programs like Capital One Offers. The greatest advantage of referral bonuses is that they don't require any spending on your part. You simply create a link, get someone to apply for a credit card via that link, and then collect your bonus once that person is approved for a new account.

The Capital One Refer a Friend program (as well as its Refer a Business equivalent) allows you to refer credit cards you possess and can yield up to 100,000 bonus miles or $500 in cash each year, depending on the cards you hold. According to TPG's August 2024 valuations, 100,000 Capital One miles are valued at $1,850, making this a potentially highly rewarding program year after year.