I have a friend that has AMEX Gold and Chase Saphirre and wants to refer me when i plan to get those cards, will it help approval or is it just a way to benefit us both?
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On the surface probably not.
It is a way for the person sending the referral to make a buck for clicking a button. Often the benefit/welcome bonus for the new applicant is not as good as applying on their own.
In either case, you might want to look for any pre-approval check at the card issuers website before accepting a referral. I'm not sure, but just using a referral may not lead to any sort of pre-qualification process -- which can be worthwhile before committing to an application.
On the other hand, I suppose it could. Some things are invite only. There is also some value in knowing whom someone associates with. Kind of like prospecting for customers whom live within certain zipcodes.
@DONZI wrote:On the surface probably not.
It is a way for the person sending the referral to make a buck for clicking a button. Often the benefit/welcome bonus for the new applicant is not as good as applying on their own.
In either case, you might want to look for any pre-approval check at the card issuers website before accepting a referral. I'm not sure, but just using a referral may not lead to any sort of pre-qualification process -- which can be worthwhile before committing to an application.
On the other hand, I suppose it could. Some things are invite only. There is also some value in knowing whom someone associates with. Kind of like prospecting for customers whom live within certain zipcodes.
Appreciate the info! Was definitely curious, i supposed it may help if they vet you outside of auto approvals.
Nope not at all. It's simply a Marketing tool using SUBS to get folks to offer it to friends.
