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Bilt credit card offering upto 50000 reward points for fee-less rent payment
Bilt credit card offering upto 50000 reward points per year on fee less rent payment
This is not a deal in the sense of slickdeals, but this info has let me earn a lot of reward points so far. I searched a bit and could not see anything on slickdeals; hence, I am creating a post. Please delete the post if this has already been reported.
Bilt credit card partnered with our building for fee less rent payment while I could earn 1x point on rent. This was a no brainer as rent is my biggest expense. Now, Bloomberg is reporting that Bilt has partnered with WellsFargo to offer their credit card and they have opened their fee-less rent payment to everyone (and not only partnering buildings).
Note: 1. Their app is pretty cool, and the claimed point conversion is pretty mind blowing (e.g. 1:1 United miles).
https://www.bloomberg.c
https://www.biltrewards
This is not a deal in the sense of slickdeals, but this info has let me earn a lot of reward points so far. I searched a bit and could not see anything on slickdeals; hence, I am creating a post. Please delete the post if this has already been reported.
Bilt credit card partnered with our building for fee less rent payment while I could earn 1x point on rent. This was a no brainer as rent is my biggest expense. Now, Bloomberg is reporting that Bilt has partnered with WellsFargo to offer their credit card and they have opened their fee-less rent payment to everyone (and not only partnering buildings).
Note: 1. Their app is pretty cool, and the claimed point conversion is pretty mind blowing (e.g. 1:1 United miles).
https://www.bloomberg.c
https://www.biltrewards
Created 03-28-2022
at 06:21 PM
by joysaikat
in
Credit Cards
(4)
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I don't see actual cashback as an option for the Bilt card.
The value to me is in the transfer partners. Its easy to get over 1.5 cent per point on with some of the partners like Hyatt and AA and AC.
in order to maximize value of these points, like any other transferrable points (amex MR, Chase UR, Citi TY pts) will take some effort.
"To know if this is all worth it for you, you'll have to have some sense of what a Bilt point is worth.
While TPG hasn't yet done a formal valuation of Bilt points, we do have some easy reference points we can use based on the value of American Airlines miles and World of Hyatt points, both 1:1 Bilt Rewards transfer partners.
TPG currently values American Airlines miles at 1.4 cents per mile and World of Hyatt points at 1.7 cents per point. For very simple math, let's average those two amounts and use a conservative 1.55 cents per point as an example of what these points could be worth to some renters. This comes in just over what Bilt says you could get if you use Bilt points towards a down payment. That said, the number of flexible transfer partners does make this a potentially powerful currency worth even more.
Each renter will have to do the math for themselves based on their own redemption intentions. Plus, certain landlords might offer bonuses that make the program even more appealing."
Bilt says that you can get upto 1.5cpp when you redeem points towards the down payment of a home but I have zero idea of how that works.
IMO, if you don't want travel points, this isn't a great card.
I don't know if there are any point brokers that will let you sell your bilt points or if that will get you shutdown.
Dining: 3 rewards points (1 base point plus 2 bonus points) are earned per $1 spent on qualifying net purchases at retailers whose Merchant Code for Mastercard is classified as eating places and restaurants, drinking places, bakeries, or fast food restaurants (caterers, grocery stores, and other miscellaneous places that serve food or operate restaurants on their premises are not considered eating places and restaurants).
i thought you got 2% at dining and 3 times that would be 6%; i guess not. so 3% is not awful, i plan to add the card to apple wallet and just use it when i drive-thru fast food once a week plus the obligatory amazon reload....get into that routine for ease.
Sorry, I don't mean to imply that the person didnt know what he was talking about... i'm just suggesting that the valuation of the points isn't quite as straight forward as it automatically being 1.8cpp
"To know if this is all worth it for you, you'll have to have some sense of what a Bilt point is worth.
While TPG hasn't yet done a formal valuation of Bilt points, we do have some easy reference points we can use based on the value of American Airlines miles and World of Hyatt points, both 1:1 Bilt Rewards transfer partners.
TPG currently values American Airlines miles at 1.4 cents per mile and World of Hyatt points at 1.7 cents per point. For very simple math, let's average those two amounts and use a conservative 1.55 cents per point as an example of what these points could be worth to some renters. This comes in just over what Bilt says you could get if you use Bilt points towards a down payment. That said, the number of flexible transfer partners does make this a potentially powerful currency worth even more.
Each renter will have to do the math for themselves based on their own redemption intentions. Plus, certain landlords might offer bonuses that make the program even more appealing."
Bilt says that you can get upto 1.5cpp when you redeem points towards the down payment of a home but I have zero idea of how that works.
IMO, if you don't want travel points, this isn't a great card.
I don't know if there are any point brokers that will let you sell your bilt points or if that will get you shutdown.
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When it clearly says in their FAQ, "we'd love to offer points for mortgage payments.... in the future," then why would you believe it works differently?
I'm sorry, but if you want to risk a hard pull and a credit card that may be useless if it doesn't work out, then go ahead and try it out with a mortgage payment processor. I, on the other hand, will wait for an official announcement (and a new SD topic).
~ im2bz2p
Ok, so I applied on 03/29, was approved after they called me to 'verify details' on 03/30.
The approval email and everything said I should have access to the card right away and be able to add my rent account right away. Yeah... no dice on that.
Card arrived yesterday 04/05, even after activating it, I wasn't given an option to use ACH/eCheck and generate those numbers, went to bed, then this am 04/06, finally the app now has connected to the mastercard, and gave me the option to add an eCheck/Routing number/Account number to my rent account dashboard.
Seems like it's fine? I chatted in and asked them if I could push other purchases over that same routing/account number, they said I cannot. Only the rent payment. But we shall see I guess?
I redirected 5 other subscription purchases towards this card so I hit that 5 other transactions to earn the points each month.
I'm purely using it to earn the 43k points/yr, or I would NOT have went through all this effort, but $700 worth of points seems worth it.
eta: never mind, i found it. when you go to make a payment, you will be asked to pay one time or monthly.
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