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The Offer
American Express is sending out a new kind of referral offer:
- Refer a friend for a personal loan from American Express and get a $50 statement credit.
The Fine Print
- Valid through 7/14/19
- This offer is not transferrable
- You can only refer to an existing Amex cardholder who is preapproved for a loan
- Please allow 10-12 weeks for credit to post
- Value of statement credit may be taxable for you
Our Verdict
Seems like you’ll need to have received the email in order to refer. We don’t recommend people typically taking out loans and the same goes obviously for encouraging friends to take out loans. I’ve heard some people use Amex for business loans to help cash flow issues, but this offer appears to be specific for personal loans.
Anyway, it’s just interesting to see a credit card issuer push their loan business even more with a referral bonus. And who knows, maybe self-referral works on this too. 🙂
Hat tip to reader Rich
