With all these devaluations, are they going to still try to clawback the SUB if we cancel our cards before our "Anniversary Date"?
Okay now that I have had time to digest this, as an existing cardholder:
- The change to Bilt Cash expiration: Great! Now I don't have to figure out how to burn off what I have before Dec 31, and can start an accelerator on Jan 1.
- Being able to opt-out of the new system: Great! Of course we won't know how long Bilt will keep the old system, but I am glad they aren't making us figure out the new system on-the-go, and giving us existing cardholders time to see how it works.
As to the new system (which I will definitely not opt into):
- Points on housing: clearly Bilt has realized it's better (for them) to get people to spend regularly on their Bilt cards with this system, rather than hoard Bilt Cash with large purchases and then draw down on it for housing payments. I'd prefer the flexibility.
- Bilt Cash: Getting $600 (for Palladium) instead of $200 (+$400 hotel credit) could actually be more flexible for some folk who prefer not to use the hotel credits, but if you like using them, then not being able to stack a hotel credit with Bilt Cash is a meaningful devaluation. And while you don't need it anymore for housing payments, how do you earn more Bilt Cash (beyond the $50/25k points) for accelerators, etc? Will Daily Rewards make up for it enough that you can even make any redemptions?
- Daily Rewards: this would have been good for me if my local coffee shop was still on the Bilt Neighborhood program (meaning I could get a reward every morning). Now it kinda sucks for me. This feels like one of those "great for New York City residents but F You to everyone else" kinda changes.
TL;DR: postive for me (for now) since I can keep the current system and I don't have to stress about the Dec 31 BC expiration. If/when they get rid of the 4% BC earning, then a major devaluation of benefits.
Right - if there's no way to earn B$ for cardholders after 1/1/27, goodbye accelerators, goodbye 3x on $25k. I guess you could still get 3x on 15k if you spend all B$600 on accelerators.
And for the grandfathered folks - how long are they really going to keep the 4% flexible payment option around do you think - another 6-12 months?
Just such a mess of a rollout, and they couldn't even keep their original program alive for a full year! That speaks volumes about the long term viability of this product, IMHO.
It really is kinda ironic that the initial confusion about Bilt Cash (particularly for housing payments) led them to immediately add the alternative housing points structure that is now going to be the only structure for new customers. Wonder if we'd even have this change if the original rollout was less of a shitshow.
Hi! I’m confused because the article stated Bilt hotel credits are being turned into Bilt cash, but I only understand that is true if you don’t opt to keep earning Bilt Cash. I’m pretty sure that how Frequent Miler understood it too. However, I am reading this while working so I could be misunderstanding as Im not able to completely focus on it.
It's there in Ben's article, but a little hard to find (in the section on Bilt Cash).
They are NOT giving me more time to use my Bilt Cash. Previously I would have had (slightly less than) $100 roll over and expire on 12/31/27. Now this Bilt Cash will start to expire on 2/28/27.
I think you only get $600 in Bilt cash if doing the 1.25x option not if you keep earning Bilt cash.
Glad existing holders can still keep the 4% Bilt Cash earning, but that change limiting it to twice/year for hotels is pretty rough. Even with the new 12-month rolling expiration, it will be increasingly difficult to burn that much each year as a result (I live on Long Island...the Blade credits aren't useful as a burn method except for the novelty when people visit).
Given the new hotel restrictions, I would really like to see them bump more daily redemptions (the Lyft redemption from $10 to $20 or 25/month?)