Do people still get $5 when using someone's invite code if said person reached their use limit?

Gameflip - Questions & Suggestions
2

Hi @ZalexDuhBeast. If you reach the cap of 10 friends invited, for every new friend that you invite, you’ll get no credits but your friend will do.

The current payout is $2 for friend invite. The promotion of $5 is expired. See the quote from the promotion thread: