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Dec 3, 2024 | 3:41 pm

#1061

notquiteaff

FlyerTalk Evangelist

Join Date: Dec 2006

Location: Pacific Northwest

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Quote:

Originally Posted by Majuki

Cue the speculation from Ankur's latest email. What will the Bilt Card 2.0 be in terms of "tiered offerings" and "delivering enhanced value"?

“But more importantly, I've been reading and passing along your feedback and requests for the current Wells Fargo issued-and-operated Bilt card program. We know you want more premium offerings - and also ways to earn points on your mortgage payments. We also hear the challenges many of you have had with approval rates, credit line sizes, and the need for core tech features like authorized users, pay over time, and auto-pay integrations. Some of you have mentioned that your credit limits are too low to cover more than a month or two of rent, leaving little room to take full advantage of the card’s benefits – especially considering the average FICO for these members is above 750. We hear you loud and clear. These are all things that require support from our issuing bank partner, and we're actively working on solutions.”

If I had to guess, they are going to switch partners. They may sell it as being motivated by the desire to implement features WF couldn’t deliver, but the real reason will be that WF got tired of subsidizing their business and losing money on the card.