That's a 6.6% interest rate for the loan. In addition to the points, take into account what you might earn with the money over five years.

A bit of clarification, please
 

Last month I posted a question about paying HOA frees on these forums and Dr Jabadski kindly directed me to this thread. I have now read through all this (a bit bleary eyed...). I have not yet applied for the Bilt MC since my husband might be getting new hearing aids (~$5K) so would like to time it with that JIC I get the quasi-SUB offer.

I tried doing a multi-quote but not sure if it will show up when I post this. So I am referencing the relevant posts here:

In post #492, Dr J indicates he provided the Bilt account # and routing # to his managing agent and they pulled the ACH payment.
In post #409, there is a link to an article explaining how to use eCheck from a portal.
Post #761 is a reddit post from Bilt Rewards regarding HOA payments.

Our HOA fee is $800 and our new assessment is an additional $600 for total $1400. Our management company allows payment in a variety of ways:
1. Pay by mailing check with coupons. 2 coupons - one for each part of the payment. Checks addressed to " <Condo Name> HOA"
2. Bank Bill Pay with one payment totaling $1400. Currently I pay my HOA fee from my Chase checking account's bill pay, where it is sent as "1 business day electronic" payment. New assessment hit May 1, so I paid this way this month.
3. ACH/Direct Debit - which would be for the full $1400. Just need to provide info to management company.
4. NEW option - by credit card and eCheck via a portal for our management company from cincwebaxis.com. The CC payment carries a 3.25% fee and the eCheck fee is $1.99.. Can set this up online.

So options 3 or 4 via eCheck would be best. My concern is that these payments are listed as <Condo Name> HOA, which I suppose mgt company might use in option 3. Just don't want any problems, or want to waste a 5/24 slot, have another hard pull, etc.

Valid or unwarranted concern? Would option 4 be better ("safer") than option 3, despite the fee? TIA

I would say that option 3 is ok. As long as you keep it to one ACH transaction monthly, I don't think there should be any problem. In fact, $1400/month might seem more like an amount for rent payment than an HOA assessment.

I wouldn't have Bilt send the payment since we've read about issues there where the landlord doesn't receive the check. That is to say, I wouldn't do option 2 if it were Bilt instead of Chase.

I don’t understand, seems that rent and HOA amounts can both be of any dollar amount.

You sure it was “kindly”? Maybe abruptly or curtly ;)? Regardless, thank you for the compliment :tu:.

Reads as though you’ve done more than your due diligence, good on you.

If I’m understanding correctly, I do #3, as do the majority of people who post about Bilt. Many of us had “HOA” and/or “condo” in the line item description of the charge when using previous payments methods, Bilt simply lists it as (on Wells Fargo credit card activity) “05/01/24 BPS*BILT REWARDS B NEW YORK NY #12345678ABCDEFGH $1,XXX.XX Billing location: NEW YORK, NY Phone: 1234567899 Purchase Mode: MANUALLY ENTERED” and (on Bilt Rewards website) “BPS*BILT REWARDS B NEW YORK NY 05/01/24 $1,XXX.XX Transaction date May 01, 2024 Posting date May 01, 2024”.

There are many Reddit posts from “biltrewards” in this regard, I’ve copied some below. (Although on those Reddit threads "biltrewards" is essentially accepted as "official", I cannot confirm nor verify that “biltrewards” is an official representative of the company.)

Your concern, which is identical to mine until I received and transferred my first Bilt points, is indeed unwarranted. As with Majuki, I agree with option #3.
https://cimg5.ibsrv.net/gimg/www.fly...efc242c336.jpg

Thanks. Now will just try to strategically time my application. Probably end of next week.

I was saying that $1,400 is more believable for a rent amount than $300.

I wouldn't worry about the name either. For all Bilt knows, the HOA has some units in the building available for rent. This was the case at an apartment complex where I lived 15 years ago. They were built as condos yet had been rented out like they were apartments.

Hello! I am very new to Bilt and just had a quick question. I can now use the Bilt platform to pay my building's monthly maintenance. Is there a benefit to using the Bilt CC over another credit card via the platform? I would likely transfer any points earned to Alaska Airlines or Marriott.

-J.

If you use another linked card for rent or "rent", there will be a fee. The other use cases I can think of for linking cards are:

1) Initial bonus points for linking some cards
2) Lyft bonus on a linked card (which gets bonus Bilt points)
1) Bilt Dining (if you use an Amex Gold which would get 4x MR vs 3x Bilt points)

Thanks! I've already linked Lyft (which earns two points per dollar that I can forget transfer to Alaska, instead of one Alaska point per dollar). I typically use CSR for dining (2 ppd which are worth a net off 3 cents) so I'll have to do the math to see if it's worth getting the actual CC. I imagine it is if it gets me out of the fee for paying for my building.

-J.

Paying rent/HOA monthly charges without fees is far and away the #1 benefit and attraction of Bilt.

Other than the initial bonus for linking, I’ve not earned any Bilt points or seen any other benefit of linking a credit card.

Datapoint: My monthly Bilt HOA fee ACH is invariably processed and posts on the 1st of the month. Of course, Bilt has zero telephone customer service. I did “Chat” with Bilt, likely robo customer service, asking about ramifications and trying to get “one-time exception approval” of a second payment in the same month, kept being told only 1 payment allowed per month.

Asked the management company if they could add the assessment to June 1st ACH, they said no, they need payment by the date the loan starts (May 20). On Friday morning May 17, I told them it might not be processed but please the to do the full assessment as a one-time ACH pull and to let me know of any problems. Later that day I saw a pending charge for $15,717.XX on my WF Bilt MC activity, did not hear back from management company.

Previous Bilt balance ~1,600, charge was pending all weekend, this (Monday) morning, charge indicated posted. Bilt Rewards balance ~17,XXX, immediately initiated 17k transfer to partner, confirmed on partner website 5 minutes later, partner website balance 17k higher, Bilt Rewards balance = XXX. (I remain skeptical of Bilt's long term viability in general and after this experience specifically for me personally, still maintaining a minimal Bilt balance via monthly partner transfers as soon as HOA Bilt points post.)

I’ll post again if/when the transfer is clawed back and/or if/when I receive notification of Bilt shutdown.

Perfect example of what I was thinking about all along this process: "It's easier to ask forgiveness than it is to get permission." (retired Rear Adm. Grace M. Hopper)

Go big or go home. If you can’t stand the heat, get out of the kitchen. No guts, no glory. Luck is often on the side of those who take risks. Successful people are often willing to take risks. Etc., etc., etc. ;) ;) ;)

Interesting, thanks for the data point. - Kerr, Bilt

Referred someone recently who definitely used my link, and I didn't get referral credit.

All previous referrals credited instantly. This has now been two weeks.

Anyone get a referral credit recently?

June 1 rent day “promo”:

https://cimg7.ibsrv.net/gimg/www.fly...344b9d078.jpeg
https://frequentmiler.com/another-sa...g-on-june-1st/

Very weak offering.

Still haven't gotten my referral.

Are times changing at the generous Bilt?

Is one able to track confirmed referrals somewhere on the Bilt app?