Bilt Mastercard Statement Credit Redemption Option

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

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23 Comments
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Harry
Harry (@guest_1679117)
August 24, 2023 12:00

What does everyone value BILT points at? TPG says 1.8 and Business Insider says 1.65.

Ryan Leftwich
Ryan Leftwich (@guest_1679179)
August 24, 2023 13:46

I trust FM over TPG. They have it pegged at 1.55, which sounds about right.

LK
LK (@guest_1679295)
August 24, 2023 16:16

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

Harry
Harry (@guest_1679346)
August 24, 2023 17:37
  LK

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.

Mark R.
Mark R. (@guest_1678692)
August 23, 2023 21:11

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.

David
David (@guest_1678701)
August 23, 2023 21:26

Mark’s YouTube channel is great! Mark Reese/ Credit Cards

Jeremy
Jeremy (@guest_1678527)
August 23, 2023 16:39

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.

Mark
Mark (@guest_1679980)
August 25, 2023 13:29

What issue do you have? I’m using the Bilt app on an Android phone without problems.

Gary Leff
Gary Leff (@guest_1678524)
August 23, 2023 16:33

1. Redemption is at $0.0055 not $0.01.

2. It is available to Wells cardmembers only.

TJ
TJ (@guest_1678577)
August 23, 2023 17:52

Isn’t the card only available through Wells Fargo?

Malik
Malik (@guest_1678592)
August 23, 2023 18:14
  TJ

Before Wells Fargo the Bilt card was issued through another bank.

TJ
TJ (@guest_1678630)
August 23, 2023 19:11

And Wells Fargo didn’t acquire the former bank’s card portfolio?

Ryan Leftwich
Ryan Leftwich (@guest_1678521)
August 23, 2023 16:25

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.

Spiel
Spiel (@guest_1678688)
August 23, 2023 20:53

not without a signup bonus

Mark
Mark (@guest_1679982)
August 25, 2023 13:30

A signup bonus would be nice, but it’s a no brainer to get points on your largest monthly expense (if you pay rent).

Cate the MSer
Cate the MSer (@guest_1678519)
August 23, 2023 16:23

Nah I’ll do Hyatt and fk Bilt up

Sam
Sam (@guest_1678509)
August 23, 2023 16:14

I only see 0.55c/pt

Citychurner3
Citychurner3 (@guest_1678499)
August 23, 2023 16:07

Not something I will likely ever use, but it is a nice backstop if I ever get too points heavy / not many trips planned.

Matthew
Matthew (@guest_1678480)
August 23, 2023 15:54

Didn’t get this email. Is this targeted?

Matthew
Matthew (@guest_1678511)
August 23, 2023 16:14

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.

gary
gary (@guest_1678539)
August 23, 2023 16:51

if you log into the bilt app its on the main page