Chase made news recently as it announced huge changes to its premium Sapphire credit card. Now, the bank has confirmed changes to who is eligible for welcome bonuses across its range of Sapphire consumer cards.

The Sapphire Reserve for Business will also be adopting the new Points Boost accelerator, which will allow cardholders to redeem their Ultimate Rewards® points for up to 2X value on select airline tickets and hotels booked through Chase Travel. Otherwise, it's a fixed 1 cent per point.

You and a friend can earn bonus Ultimate Rewards points by applying for the Chase Sapphire Preferred Card or Chase Sapphire Reserve through a referral link.