Update: my mistake, seems it’s just the same old .55 cents redemption option. I think what’s new is that you can now offset regular purchases whereas previously you could only get the .55 toward rent payments.
Bilt Mastercard sent out an email that they’ve added an option to cashout points at 1 cent per point. The points can be applied as a statement credit against any charge on the Bilt Mastercard.
While most people will value the travel transfer options more, this is a nice improvement. At a minimum it gives a backup 1-cent baseline value for the points, and might also be useful for someone who isn’t interested in travel. We’ve updated out full Bilt Mastercard review with this additional option.
Hat tip to uscreditcardguide
What does everyone value BILT points at? TPG says 1.8 and Business Insider says 1.65.
I trust FM over TPG. They have it pegged at 1.55, which sounds about right.
Don’t bother following what anyone says it’s “worth”. It’s all dependent on how you’ll spend the points. Ask yourself when redeeming points: would I rather pay the points or pay cash?
For me, I’ll either use the travel portal at 1.25 cpp or transfer to Hyatt for about 2cpp. Therefore my “valuation” is about 1.6 cpp
I agree with your statement. I track my points using AwardWallet and they don’t have a valuation number for BILT so I wanted to manually put one.
Yep, you can now redeem Bilt points at 0.55¢ per point as a statement credit against your balance. It’s currently showing as an option on the Wallet tab in the app.
Mark’s YouTube channel is great! Mark Reese/ Credit Cards
It’d be great if Bilt would fix the Android update they made months ago, it’s the only app that doesn’t run on my phone since March/April 2023. I reported it but they still haven’t resolved it.
What issue do you have? I’m using the Bilt app on an Android phone without problems.
1. Redemption is at $0.0055 not $0.01.
2. It is available to Wells cardmembers only.
Ahh, okay, so this is just the old redemption option. I guess they added the ability to offset regular charges whereas previously it could only offset rent at .55
Isn’t the card only available through Wells Fargo?
Before Wells Fargo the Bilt card was issued through another bank.
And Wells Fargo didn’t acquire the former bank’s card portfolio?
I don’t have this card (mortgage), but this makes it a no-brainer recommendation for friends and family that pay rent. Seems like a huge upgrade to get non-travellers on board.
not without a signup bonus
A signup bonus would be nice, but it’s a no brainer to get points on your largest monthly expense (if you pay rent).
Nah I’ll do Hyatt and fk Bilt up
I only see 0.55c/pt
Not something I will likely ever use, but it is a nice backstop if I ever get too points heavy / not many trips planned.
Didn’t get this email. Is this targeted?
My understanding is that this is a new system-wide option
Cool, I’ll have to look into it more. Haven’t been able to afford to take a vacation in over 15 years so this is a great option.
if you log into the bilt app its on the main page