Ya you will get both referral and referee benefits. I used this trick more than 3 times. I had amex platinum travel card and i apply for amex reserve card and gold card using my referal and what both are approved and i got 16000 mr points and not only mr points got amazon voucher too. after that i closed both new cards and applied for smart earn card and i got approved. Again i got 8000 mr point . After that i closed again smart earn card. I applied again gold card. And get mr points. And now i have 3 cards. So this trick is worked. And i got lots of mr points free of cost.