As others have mentioned, Wells Fargo is such a garbage bank. Got my physical card on Saturday, clock starts ticking on the 5x welcome offer. Made an online payment right then and there to zero out my outstanding balance so I could spend to the max of the credit limit, but the payment didn't reset my available credit on Saturday like it might with other banks. And then it didn't reset on Sunday. And then it didn't reset on Monday. Tick tock, hope I can take advantage of the Bilt welcome offer! Can't say its an especially welcoming first experience with this card, which is unfortunate because the card itself seems great, but their bank is handicapping their growth with its uselessness.

Did you make the payment from your bank or from the Bilt portal?

From the Wells Fargo Bilt dashboard.

Update: available credit still hasn't reset. I likely won't be able to take advantage of the welcome offer. Even though the payment posted and all, Wells Fargo informs me that I won't be able to spend on the card until next Monday, and that I should take it up with Bilt if I have a problem. Bilt says tough luck. What an unsalvageable waste of a 5/24 slot.

Surely you did not apply for the card just to earn the 5 day bonus, which some cardholders do not receive?

That's what tipped the scale vs other card products that I could have burned the slot on, and I had an offer in the app so I knew I was targeted. Can't imagine that anyone could possibly see that analysis as an unreasonable one.

Absolutely reasonable to apply for a card just for the SUB (even a 5 day quasi SUB) which is often far and away the major determinant of the choice of a credit card application. Granted with Bilt’s unique ability to pointsetize rent and condo payments, Bilt’s quasi SUB might be less of a factor but it’s still a SUB and it’s all about the SUB ;) (for many people).

mia's caveat here was "the SUB isn't guaranteed", but the poster had indication it was happening.

That said, the SUB can't have been completely unused - presumably even without resetting the limit, you spent up to the limit at least ONCE, so there's some use of the SUB?

Might be correct but the (implied) caveat might also have been “5 day” and/or 4/1 SUB ratio. All 3 of those factors (not everyone, short duration, low point to $ ratio) independently differentiate Bilt’s quasi SUB from more traditional SUBs.

Do we have previous reports that there is a way to know in advance if targeted for the credit card new account bonus?

Yeah; issue is that I did nearly all of that spend on the virtual card prior to receiving the physical one & the 5x email. Won't count toward the SUB.

Dunno but probably showed for me since I've had a Bilt account for several months with a decent amount of activity: linked a bunch of transfer partners, have had a good bit of Lyft activity, and actually made a few transfers to top off loyalty accounts when I was a couple grand short of a redemption. Appeared in the app under a header along the lines of "ways to earn more points" with scrollable tiles, one of which had the Bilt card with a "get 5x for first 5 days" tag.

That explains the confusion/misunderstandings. There aren’t many published statistics as to the number of Bilt accounts without a Bilt MC, I suspect that percentage is small. This is also perhaps the first reference to Bilt “virtual card”.

Forbes: “All members who live in properties in the Bilt Rewards Alliance are eligible to earn Bilt Rewards on their monthly rent. Members of Bilt Rewards without the Bilt World Elite Mastercard® can earn up to 250 Bilt Rewards each month. Cardholders can earn up to 100,000 Bilt Rewards each year. You must use the card five times each statement period to earn points (rewards & benefits).”

Reddit: “Is there a purpose to biltrewards without the card?”

Perhaps the teaching point is that it might be more expedient to send an ACH payment than having the CC issuer pull the payment? IME, sent payments can be scheduled as little as 12-18 hours in advance compared to pulled payments which invariably take 1-2 days longer.

Yeah, I just opened the Bilt account as quick way to top off loyalty balances (especially where you can't transfer from other bank currencies, like AA, or where I'm regularly tapped out like UR-->Hyatt).

Is this possible with a card payment? I don't have a WF depository account if that matters.

ETA: Also, the WF dashboard shows that the payment posted; it's not pending. The "last payment received" date is the date of that payment and in the correct amount. The available credit just hasn't updated.

I’m not a banker and only have experience with Bill Pay from 1 or 2 bank accounts. IME, I can input a Bill Pay ACH payment on my (non WF) bank’s website or app until about 7 or 8pm EST, have the payment processed overnight and appear as “received” by Chase in the morning and “posted” (balance decreases and available credit increases) that afternoon. AmEx seems to take several more hours for “receipt” and a little longer for posting.

I’ve only had Chase “pull” a payment (from non Chase bank) once or twice, when I forgot and it was the payment due date. Figured if I initiated the payment on Chase’s website they would see it as occurring on the due date. Took 1-2 days longer for the payment to fully process and my bank account balance to decrease.

Not all issuers allow cardholders to "cycle" a credit limit in the way that you expected. Part of this is an anti-fraud safeguard. The first payment(s) from new customers may not immediately increase available credit, because they have not yet verified that the cardholder is authorized to use the bank account that made the payment.