Link: Apply for the no annual fee Bilt Mastercard®
I’ve written extensively about the Bilt Mastercard® (review), which is an innovative and rewarding credit card. The greatest selling point of the card is that you can earn points for paying your rent (and anecdotally your HOA as well). Best of all, the points are quite valuable, which is also why this is a card that I applied for.
Another unique aspect of Bilt is how it has an elite status program. Major changes are coming to this as of 2024, and it’s both good and bad news.
In this post:
Bilt makes elite status harder to earn
Bilt has four membership tiers — Blue, Silver, Gold, and Platinum. Currently, status is earned based on how many points you rack up in the program in a calendar year, regardless of what the method is. Blue is the entry level tier, and then you can earn Bilt elite status at the following thresholds:
- You can earn Bilt Silver status when you accrue 25,000 points
- You can earn Bilt Gold status when you accrue 50,000 points
- You can earn Bilt Platinum status when you accrue 100,000 points
With the new program launching in 2024, you’ll be able to qualify for Bilt elite status in one of two ways:
- Based on qualifying points, which would include all the Bilt points that you earn, regardless of the method
- Based on spending, whereby you can fast track your way to elite status with all eligible non-rent spending, including Bilt Mastercard spending, spending on SoulCycle classes booked in the Bilt app, spending on Lyft rideshares when Bilt is set as your rewards partner, and spending in the Bilt Travel Portal
Just to be crystal clear, with the latter method, earning status is literally based on the cumulative spending via all these means, rather than the number of points earned.
So, what are the new elite requirements for 2024?
- You can earn Bilt Silver status with 50,000 qualifying points or $10,000 of eligible spending
- You can earn Bilt Gold status with 125,000 qualifying points or $25,000 of eligible spending
- You can earn Bilt Platinum status with 200,000 qualifying points or $50,000 of eligible spending
As you can see, the points requirements are increasing by at least 100% at each tier, though the spending thresholds are new, and may make status easier to earn for some (though not most, given the ability to earn points on rent, spending bonus categories, etc.).
Bilt promises more elite status benefits
Admittedly elite status will be harder to earn for most members, but Bilt emphasizes two points:
- Bilt will be introducing Milestone Rewards, where you’ll unlock special rewards for every 25,000 points you earn, as you work your way to elite status
- Bilt states that it has dropped new status-based benefits in the past year, including unprecedented transfer bonuses and priority event access, which will continue with the new program, and we should stay tuned to learn about brand new benefits in the coming months
While that sounds great, as of now we don’t actually have many details about what this will look like, so it’s hard to judge how positive these changes will be.
Bilt’s logic for elite status program changes
So, why is Bilt changing its elite status program? The company explains that the existing elite status program is something that was created 2.5 years ago, a week before the product launched in June 2021. At the time, there weren’t nearly as many ways to earn Bilt points.
While the initial plan was to make elite status changes shortly after launch, Bilt ultimately decided to wait until the program became more mature to make changes, to see how the member base and opportunities to earn points would evolve.
So when Bilt redesigned the elite status program, the goal was to come up with something that’s both sustainable and rewarding. Bilt acknowledges that up until now, status tiers haven’t yielded many benefits beyond lucrative Rent Day offers, but that will be changing as of 2024.
My take on Bilt elite status changes
It’s hard to know what exactly to make of these changes. Make no mistake, for most members, elite status is becoming much more difficult to earn. The thing is, prior to the past year, Bilt elite status had very little value.
However, we’ve now seen several Rent Day offers with transfer bonuses for Bilt’s travel partners, and those with higher elite status were eligible for larger bonuses. If Bilt continues offering 150% transfer bonuses for Platinum members, then it could absolutely be worth going out of your way to earn that status, because the value of that could be huge.
For now, Bilt is only firmly announcing how status will be harder to earn, with limited details about what Milestone Rewards and elite perks will look like.
If the perks of Platinum were consistently rewarding, I’d absolutely put $50K of spending per year on my Bilt Mastercard. However, there’s an opportunity cost to that spending, so I hope Bilt can come up with some mutually beneficial rewards. Bilt has generally done a good job with delivering ongoing value, so I suspect we’ll see some nice improvements.
Bottom line
The Bilt elite status program is being refreshed in 2024. With the new program, status can be earned in one of two ways, based on total points earned or total eligible spending. For most members, the requirements to earn status are going up.
I’m not surprised to see some changes, given that the elite status program initially had limited benefits, and Bilt points were also harder to earn. The jury is still out, though, on the new program, based on the details of the new elite perks, the details of Milestone Rewards, and how often we see elevated transfer bonuses from elite members.
What do you make of these Bilt elite status program changes?
I did earn the equivalent of a SUB in one year with the opening 5 days and rent. But now, useless except for rent and restaurants on 1st day of the month (and 4 minimal other payments). Opportunity cost too high when aiming to get 3-5x on all spending.
Hopefully Bilt will start building airport lounges for platinum members
Its amazing how many people write this card off cause lack of sign-up bonus, for a zero annual fee card. The transfer bonus for VA and Hawaiian yielded way more points for me with just general spend on the card
Reading their complaints is nauseating. There's a Darwinian thing going on here. Some people don't want to put in the effort to figure out how to play this card. Pun intended. They want to be spoon fed . . . and they want a pony. When they're not spoon fed . . . and don't get that pony, they self-select out of the card.
Effective 2.5x per dollar Virgin on general spend on the bonus day.
A Citi Double Cash gets you 2x per dollar every single day on all general spend xfer able to Virgin.
Only with the Premier is the Double Cash that valuable. The Double Cash is still fine on its own with the 3 transfer partners (Wyndham, Choice, and JetBlue) as you can still exceed 1cpp value with those transferred points on a no AF card. But make no mistake: Bilt has the single best transfer partner list (absent Bonvoy with terrible transfer rates) available. They give you most of the same benefits of the CSP (including...
Only with the Premier is the Double Cash that valuable. The Double Cash is still fine on its own with the 3 transfer partners (Wyndham, Choice, and JetBlue) as you can still exceed 1cpp value with those transferred points on a no AF card. But make no mistake: Bilt has the single best transfer partner list (absent Bonvoy with terrible transfer rates) available. They give you most of the same benefits of the CSP (including primary Auto coverage) with no annual fee. The only thing they don't do is make the card valuable to churners. These elite changes are clearly designed to make a sticky ecosystem -- they just haven't added that part yet. They also cater to a pretty specific demographic: younger, status/experience seeking professionals in dense, HCOL areas. I'm sure it is a fantastic consumer demographic to sell to a bank like Wells Fargo (low risk and profitable). It probably will also allow more targeted brand relationships (like Amex puts on their cards) over time. Whether or not I like their Rent Day promotions (I will never set foot in a Soulcycle studio), I appreciate watching them work. They have a very clear idea of what they are trying to do and the customers that they want. Other, bigger programs can't do that, which is why you end up with a Platinum Card that has credits for Equinox, Saks 5th Avenue (but not the outlet version), and Walmart+. Amex has more of a shotgun approach with their credits and promotions.
I made platinum this year mainly through my rent payments. With other cards offering 1.5%+ returns, I highly doubt I'll get anywhere close to meeting the 50k on Bilt excluding rent when I can focus my spend elsewhere.
Good luck to those who get Platinum, it's a risk whether or not these 150% promotions continue.
Change is the name of the game. Improvise, adapt, and overcome.
I guess I should sell my big comfort house and move to NYC expensive apartment and instead of cycling outdoor and drive my own car, I should start buying a SoulCycle signing up classes and only taking Lyft for commune. Then I can have the ultimate Bilt Platinum!
Whenever I read things like this and the occasional "what I have in my wallet" posts, I'm always wondering to myself, what am I doing wrong with my life that I can't put (using this $50k number) over $4,000 a month on a single credit card? Haha, just kidding. Seriously though, I know that OMAAT is a business and there are business...
Whenever I read things like this and the occasional "what I have in my wallet" posts, I'm always wondering to myself, what am I doing wrong with my life that I can't put (using this $50k number) over $4,000 a month on a single credit card? Haha, just kidding. Seriously though, I know that OMAAT is a business and there are business expenses that can be placed on credit cards but just how much are folks earning and spending out here?
On the specifics on this though, there are other cards I carry which offers substantively better benefits which ultimately relegates the BILT to the back of the proverbial wallet.
I have the Amex Platinum and Chase Sapphire Reserve, but as an AA ExPl and Hyatt Globalist, I think Bilt is quickly becoming the most valuable card in my wallet, and I'm excited to see what these changes will look like. Bilt's normal earning rates are exactly the same as the Sapphire Preferred. But with no annual fee, elevated earning opportunities each month, and a better list of transfer partners (they have Hyatt, which used...
I have the Amex Platinum and Chase Sapphire Reserve, but as an AA ExPl and Hyatt Globalist, I think Bilt is quickly becoming the most valuable card in my wallet, and I'm excited to see what these changes will look like. Bilt's normal earning rates are exactly the same as the Sapphire Preferred. But with no annual fee, elevated earning opportunities each month, and a better list of transfer partners (they have Hyatt, which used to be exclusive to Chase, and they're the only way to transfer points to AA), Bilt easily bests Chase's Sapphire preferred. The CSR earns 1 more pt per dollar on travel and has some other benefits that make it worth while to me, and the Amex Platinum has a host of travel benefits and incredible Amex Offers that help pay for it's fee. But the promotion Bilt ran with Emirates really got my attention. It's the first time they showed a unique commitment to their own elite tiers, and the bonuses they offered were exceptional. No other card has it's own elite status program (some are affiliated with a particular hotel or airline and help you earn status, and others offer benefits at certain levels of spend, but no other cards have their own elite status program). You can tell that Bilt is adopting the best ideas that AA and Hyatt have in their elite programs: (1) milestone rewards to keep you spending and working towards that next level (like Hyatt and AA), (2) rewarding you for all spending with partners (like AA loyalty points revamp), and (3) two ways to achieve status...either through points or total spend (like Hyatt's elite nights or base points options for reaching status). Brilliant. I'm waiting for them to run a huge transfer bonus with AA or Hyatt. Really excited about what they're doing. If you're looking for a sign-up bonus, this isn't the card for you. But if you're looking for a card that delivers incredible value, with no fee, this is the best. I think it should win best intro travel card over the CSP. They're eating Chase's lunch.
No way this is an organic post and not a commercial.
Yes these are nauseating to find in just about every article or reddit post about Bilt benefits. Lots of hype. It’s cool for rent and condo payments but outside that…
I mean the 2.5x plat only bonus to Virgin and Emirates isn’t exciting unless all you did was dining spend on the card.
A no fee Citi Double gets you 2x on all spend you can xfer to Virgin and Emirates any day of the year and no special spending threshold.
It was organic. And Citi’s transfer partners aren’t as good as Bilt’s for my uses. So I have zero interest in Cit’s cards. And don’t you need a card with a fee to transfer those Citi points, just like Chase. And what about my post was incorrect? I was comparing it to CHASE, and you’re talking about Citi. C’mon, Greg.
You said the Emirates bonus was exceptional and 'got your attention.' That was effective 2.5x per dollar of everday spend for one day, if you were platinum.
Citi transfers to Emirates. it's easy to earn 2x per dollar with Citi on a no annual fee card and transfer any time.
No serious player of the miles game has 'zero' interest in Citi cards, esp as an AA EXP. Unless money orders got you cut off Citi sign on bonuses.
2 points Greg: (1) I said emirates got my attention, but I was waiting until a Hyatt or AA transfer offer came through. (2) I don’t put all my everyday spend on Bilt, but I’m moving that direction. I’m pretty serious when it comes to points, but citi just doesn’t interest me. Other than their AA executive card, which I have. Their citi points aren’t worth it. I have Chase, Amex, and Bilt. May not work for you, but that doesn’t make it wrong.
Pam is right: the CFU is the best ongoing pure spend promotion right now.
But this poster hits most of the things I love about Bilt as well. Part of that is I live in an area where I can eat in restaurants on their dining list several times per month and I don't have an Amex gold to entice me with 4x restaurant spend. If you don't rent and are not in one of...
Pam is right: the CFU is the best ongoing pure spend promotion right now.
But this poster hits most of the things I love about Bilt as well. Part of that is I live in an area where I can eat in restaurants on their dining list several times per month and I don't have an Amex gold to entice me with 4x restaurant spend. If you don't rent and are not in one of a handful of larger cities in the US, then Bilt is a no AF CSP with a more narrow travel category, slightly worse (but still good) travel protections, and no complementary card ecosystem like the other big bank point programs.
The problem I have with Greg's take is that the is the main character in the story. If the card isn't for you, then it is a bad card. That's not the case: the card is pretty much objectively average/good for everyone, but it is outstanding for Bilt's target demographic (which is at least a decade younger than myself).
EXCEPT the double points first year CFU card - eats every other lp’s lunch until offer is withdrawn. I am Plat with Bilt thru 12.24 but all my spend (besides travel) goes on the CFU til my anniversary date. 6x dining + 3x non-bonus spend direct to Hyatt…YES!
If it's purely additive and making it harder than it is what it is. A majority of my spend is through rent and if I put all my spend on Bilt I would only hit silver (easily platinum if it included rent).
My worry is that Bilt is starting to tighten its belt. That this is the first sign that they'll be less lucrative. I'll continue to earn lots of points from my rent (at benefit of living in a VHCOL area) but I am just waiting for the other shoe to drop.
The changes make it easier to earn elite status for non-renters earning points through the credit card (like me and probably many OMAAT readers who own instead of rent), while making it harder for users who had earned elite status largely by renting, right? I'm guessing as Bilt is planning to add meaningful benefits for Elite status, it didn't want to give them to everyone who is earning status (and significant Bilt points) by paying...
The changes make it easier to earn elite status for non-renters earning points through the credit card (like me and probably many OMAAT readers who own instead of rent), while making it harder for users who had earned elite status largely by renting, right? I'm guessing as Bilt is planning to add meaningful benefits for Elite status, it didn't want to give them to everyone who is earning status (and significant Bilt points) by paying their $2k-$4k/mo rent. Paying 1x points for rent is surely a loss-leader for Bilt and they don't want to lose even more on these folks by giving them elite status benefits. I'm sure Ben is right in that for most Bilt members who had earned elite status (renters, Bilt's target market), earning status will now be harder.
The 5x Signup bonus was fine but I'm really seeing little value otherwise. A small rent payment I make will keep me around but I'm pushing very little spend to the card. As long as there's no annual fee I'll keep the card but, again, it holds very little use for me. These changes aren't going to increase my engagement.