Originally Posted by
Dr Jabadski
Seems also that having the condo management company initiate pulling the payment allows you to have easy confirmation that the payment has been properly completed.
Yes, the $2.95 fee is a peace of mind fee because I don't know if Bilt mails a check otherwise if the payment is not part of their alliance. I group my HOA payments so that they're semiannual and the fee is < 0.15% of the transaction amount.
Heads up that there are reports this week on Reddit of Bilt accounts with the credit card being shut down for very odd reasons. Data points are not clear but for some reason the accounts (who all claim they were legitimately paying rent via ACH) are being flagged and being asked to provided copies of leases for verification... Another account was shut down because the user was only using the credit card for small charges to meet the 5 transaction minimum per month, and Bilt claimed the “micro transactions” were against the T&Cs.
I'll monitor for this and report back if there's adverse action on my account. I'd have to search through this thread or Reddit, but there was someone purporting to be a representative for Bilt, indicating that HOA payments were specifically allowed.
I would also need to read the fine print of the T&Cs, but there wasn't any overt messaging in the marketing materials indicating a minimum purchase amount for the 5 monthly transactions. In my case, I place unaligned spend on this card where I have discretion over the transaction date to happen on the 1st of the month. This is simply maximizing rewards. I have noticed that some online transactions have failed on the 1st of the month, but since I didn't try on other days I can't say if this is a pattern.
Originally Posted by
Dr Jabadski
At least it’s just a shutdown from Bilt and/or Wells Fargo, small players in the points and miles game. Even if it’s extended to all WF products, it wouldn’t be as crushing (for most people) as a Chase or AmEx shutdown.
Yeah, I am curious if a shutdown is isolated to the Bilt account only, which would be my guess, or all WF products.
Regardless, I would relish a CFPB complaint if my account gets closed for my use case.
