Originally Posted by
gudugan
Here's the link:
https://thepointsguy.com/news/interv...lt-rewards-vp/
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For example, only 15% of Bilt Rewards members also carry our cobranded Bilt credit card, and we found an incredibly small percentage of them were consuming a disproportionate amount of resources, taking away from what we could offer to the broader base.
> 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.
I will report back that I did my Bilt Soulcycle class and it was pretty fun.
I won't deny that I've heard that their events are fun, as they should be since they're partly subsidized by Bilt. My partner and I attended a free Soul Cycle class and enjoyed it. I've heard good things about some of the dinners and other experiences. But, for most people, that and the occassional (capped now?) transfer bonuses are not incentive to spend $50k or earn 200k points on the card post-Rent day nerfs. I was counting on tax payments to maintain Platinum going forward. I have little incentive to earn 1x on my tax payments when I can earn 2.62% cashback on my BofA card, 2x on a Capital One Venture X, or 1x on my Hyatt or United card but have it help towards status that will definitely help me versus Bilt status that may or may not be useful.
If the transfer bonuses were guaranteed then you could see a value prop in getting the status. Otherwise you're just hoping for something that may never come.