Tax Payments Excluded from Bilt Rent Day Bonus
Bilt is on a roll lately, and not in a good way. It started with American Airlines being removed as a transfer partner. Then Bilt Rewards ended the Rent Day quiz in August which was an easy way to earn 250 free points every month. And more recently, we learned that the double points earning on dining during Rent Day will be capped to just 1,000 points starting Oct. 1, 2024.
But apparently that’s not the only change happening on that date. Based on an interview with TPG, Bilt will also make another notable change to its Rent Day perks, as flagged by FM. Tax payment will be excluded from bonus point promotions.
Here’s what Bilt shared in that interview:
Was similar information used in the decision to remove bonus points on tax payments as of Oct. 1?
We discovered that bonus points on tax payments during promotions accounted for 20% of our bonus category costs, yet only 0.8% of cardmembers (or 0.12% of our total members) use the card for taxes. That’s why as part of the above Oct. 1 Rent Day update, tax payments will be excluded from bonus point promotions. This allows us to reinvest in benefits that all members can enjoy.
This changed has not been announced anywhere before, although in the interview it. Earning 2X points on tax payments is useful as the lowest fee for using a credit card is 1.82%. That means that you can make a small profit on the transaction, and also increase your spending. Using the Bilt Mastercard for these payments while earning 1X point per dollar doesn’t make sense.
Credit: Source link
