I'm sorry that happened to both of you. I received my referral bonuses on both my and dh's cards. It is possible there was an issue with Chase, but these are things I would double check:
1. Your friend may not have gotten approved but did not want to tell you. (I would not double check this! But it is something to consider.)
2. You get the referral money after your friend makes their first purchase on the card. (Not when they get approved and not when they activate it.)
2B. And it will not show up until your normal payout date. For example, my closing date is the 2nd. If someone used their card for the first time on July 3rd, I won't see that bonus until my August payout on Aug 2. It is possible that it even takes longer than that - they do not necessarily post that you are eligible for the bonus the instant the friend uses the card. For the referrals I gave out in May, some showed up in June and some in July, and if I have any that posted for August I'll know this week.
For anonymous referrals you'll just have to hope it shows up eventually; for friends you could double check that they used their card and when. For op, since your friend applied in spring she should definitely have used it by now as she would need to spend $500 to get her own bonus!
I hope both of your bonuses show up after all!
ETA: My August rewards had another bonus. We did receive a total of 5 referral bonuses between my card and DH's. I don't know whether all of my referrals went through, but $250 in free Disney money for us and $1000 in bonus Disney money for those we referred makes me happy!