Not sure if that’s directed at my immediately preceding comments but if so, it’s an incorrect inference. I neither stated nor implied extrapolation or comparison of FTers to others, I merely wrote that (I think) “Bilt cardholders are probably less likely to carry a balance” (and described my experience with the quasi-SUB).

Disagree. There are also several more reports of the same thing on Reddit.

Agreed. And the majority of Bilt’s customer base is unlike other traditional credit cards and/or typical participants of forums like FT or Reddit.

“r/churning” ?

mia is correct, at the time of that post I was referring to those 2 posts. In preparing this reply, I saw a few Reddit reports of no 5x/5 day offer. I also saw the quote below from this thread and a couple of Reddit comments stating the 5x/5 day seems to be random.

BTW, in reviewing this thread in preparation of this reply, I saw multiple references in April 2022 of a 10x/5 day quasi-SUB and first report of 5x/5 day in August 2022 vice the very recent bupkis. Further evidence of Bilt successive cost cutting in the early stages of its existence.

Possible unsustainability has been discussed on this thread for a long time:

The people who max out the quasi sub with tax payments are likely a TINY fraction of Bilt users. I wouldn't extrapolate your experience from that to say it's not sustainable.

The credit card is a gateway for consumers to participate in the Bilt Alliance. The card doesn't need to be directly profitable if it facilitates profitability of the entire enterprise. Alliance members buy points from Bilt to use as incentives for early lease renewals, etc. Processing rent payments for properties which do not belong to the Alliance builds a database of sales leads, with an easy entry pitch, "Your tenants are already using our service to pay you." Processing HOA fees as if they were rent allows Bilt to assess the opportunity to move beyond rental managers to condominium and similar property managers. I expect Bilt will periodically revise card benefits, but not necessarily because the rewards are too generous.

I’m inferring that you’re basically stating that Bilt CC is a loss leader which is an excellent point. As a new loss leader we can reasonably expect benefits to be reduced in furtherance of profits.

Agreed, although it is conceivable that a tiny fraction of customers could sink a business. Although a Reddit comment stated the quasi-SUB was random, it’s doubtful it’s random for Bilt. Just like any credit card issuer reducing benefits, the only plausible reason for Bilt to reduce (from 10x to 5x) and/or not offer the quasi-SUB is to decrease costs.

That’s only one, of several reasons, I think Bilt’s current business model is not sustainable.

None of us can predict the future, maybe this debate will be settled in a year or 2.

Based on the “any port in a storm theory”, the bottom line for many Bilt users is that Bilt could reduce or eliminate ALL other benefits and we’d still use it to pay rent.

It's good practice for a business to circulate different Offers for the same product. My wife and I recently received different offers for the same American Express card on the same day, and then I received helpful PMs from Flyertalk members mentioning better offers. This is not the first time I have seen this. Bilt needs some cardholders with no intro offer to establish a baseline to measure the effect of offering 5X.

Someone from Bilt on Reddit responded to say no devaluations planned:
https://en.reddit.com/r/biltrewards/...oming/kb0b5zw/

Agreed. But those offers are circulated (stated) prior to application and approval. Are you familiar with any different/random/individualized/customized/cost-cutting offers that are stated AFTER approval?

So many sarcastic/snarky/caustic/inappropriate replies (to Bilt, not to yitianjian), so little time ;). Suffice it to write that we shouldn’t believe anything a USA business states, much less a financial business, much less a credit card issuer, much less a frequent flyer/loyalty program, much less a new loyalty program with an arguably unsustainable business model.

Unknown transactions
 

Had the card when they had that issue with suspicious transactions with fraudsters checking cards with small transactions.

I would have hope they resolved the issue after that, but just came across another weird transaction for .03 from some parking app in Italy, so it seems like there might be another issue.

Check for any weird transactions.

I would be surprised if there was a huge effect. Those who get the offer will put some extra spend on the card during the five days that don’t make Bilt any money (presumably) and then may continue to use it or put it in a drawer. Those who don’t get an offer may use it or put it in a drawer. Basically, other than potential “spite” reactions, I don’t see what they could measure here.

Just adding a data point, I received the 5x/5 day offer with my card today. Pleasant surprise given recent data points saying the offer wasn’t received.

I'd be curious to know what metric they use to hand out those offers...*shakes fist at Bilt*.

If they did something like Amex where they offer you “at least XYZ” or “up to XYZ” and show you the offer before you submit your final application, that would, I suppose, be an acceptable way to not give everyone a pseudo-SUB. But I have zero interest in signing up for the card without knowing the entire deal.

https://frequentmiler.com/up-to-some...elcome-offers/

I truly think this card is worth having even without a sign-up bonus. I did not expect one back when I applied but was very pleasantly surprised to read about it and I took advantage of it.

No annual fee and no forex fee, plus bonus categories - it has its place in my wallet long-term.

2X on Travel, 3X on dining. Double on rent day. I would probably not give up my CSR for the Bilt card. I would be interested in having it for AA transfers and maybe future rent day promos. But without a guaranteed SUB I think I will pick up some other cards on my to-do list instead. E.g., this week the Aviator card with 75k AA miles.

It's a free card that lets anyone get points on either rent or condo/HOA fees. That alone is worth the minimal impact of a hard pull.