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Here’s one more reason to be thankful for friends and family: Through June 15, 2016, Amex and Starwood are offering 10,000 bonus Starpoints for each referral you make to either the Starwood Preferred Guest Credit Card from American Express or the Starwood Preferred Guest Business Credit Card from American Express. Assuming your friend or family member applies using your referral link, you’ll receive 10,000 bonus points for each approved application, up to a total of 55,000 Starpoints (for each version of the card). TPG values SPG points at 2.5 cents each, so you’ll be earning roughly $250 worth of points for each person you refer.
If you have either SPG Amex card and you’ve opted in to receive marketing emails, you may already have this offer in your inbox. Regardless, you should be able to generate the referral using this link for the personal card and this link for the business card. You can only generate a referral for a card that you have, so if you have the personal SPG Amex but not the business version, you’ll only be able to refer someone to the personal card.
Interestingly, the terms and conditions state that “The value of the Referral Bonus may be taxable income to you; you are responsible for any federal or state taxes resulting from the Referral Bonus.” It’s possible that you won’t be taxed on the points you earn, but this is something to be mindful of nonetheless. Your bonus points should post within two months of when your friend is approved for the card.
Source: thepointsguy.com