Reader Vic noticed that in the terms on Capital One referrals it states that the bonus for referrer is only valid if you bring in a completely new Capital One customer who does not have any Capital One cards. If you refer a friend to get their second Capital One card, you will not get a referral bonus.
The stated signup bonus on the new card would be valid, regardless; it’s just the referrer bonus that won’t be eligible. Reader Vic also lets us know that based on anecdotal evidence business and personal cards are considered separate, so if your friend has a business card you can still refer them to become a personal cardholders and you’ll get the referrer bonus. And I’d think that if you bring back an old Capital One customer – who previously had a credit card but no longer has one – you would be valid for the referrer bonus as well.
You can see all these details at the link you use to refer a friend:
No referrals in the comments below.
Does the friend you refer to have to have good credit in order to be accepted?
what if I’m referring them to a personal card….they currently have an active business card but a personal card that closed last yr… would It still give me the referral bonus?
As it says above, that should still allow you to get a referral bonus.
I am getting this when I try to refer a friend – “Sorry, you’re not eligible for this program right now.”
When I called CSR, I was told it is sort of invite-only program. Any idea how long it takes to be invited? I opened first card with CapOne couple of weeks ago. TIA.
My own personal data points for referring the Capital One 100k offer:
My first referral applicant was approved, and I received my 20k referral points within a few days of the applicants approval.
My second referral applicant was approved, and, for whatever reason, it wasn’t until 5 weeks after this applicants approval that I received my 20k referral points.
Do they have any Cap1 cards prior to the Venture approval?
Does this apply to past customers as well? I mean what if my friend had a Cap1 card in past which has been cancelled at the moment? TIA.
Discussed in the post 🙂
Thanks Chuck!
I don’t think this is new. Cap1 has always been more restrictive with bonus across the board even moreso the last 18+ months. Even with the $50 bank referral (a bad joke I know).
Yeah, probably was always this way
I don’t think this is new either. The language is probably there when Cap1 referral first became available. I just happened to notice this because neither of my successful Venture referral recently awarded any bonus. It turns out both of them already have (active) Cap1 cards. What a waste of effort pushing them to get the $20k Venture.