Here's the link: https://thepointsguy.com/news/interv...lt-rewards-vp/

> 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.

I used to spend a lot on the 1st - pre-pay all of the month's bills, buy gift cards etc. This plus the loss of AA - they just sock-drawered themselves for me.

Is it clear that we'd even earn 1x on tax payments?

What does he mean by "Bilt today is a loyalty platform for the home and neighborhood"? Is it just dining rewards network participation? But any airline participates in this program.

No, and that was part of the point of my original post. In the TPG Q&A, they say tax payments will no longer qualify for bonus points on 10/1. I can't find anywhere in their terms and conditions where it talks about tax payments. I would assume that bonus points means the rent day bonus points and that they would otherwise still earn 1x, but who knows. I don't see why they would care about giving out 1x on tax payments, though. If giving 1x for everyday spend, which should be the most profitable scenario for them, is something they want to curtail, something is seriously wrong.

“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 wonder if the change also applies to the 5X promotion when people get a new Bilt card. Tax payments would have been the way for me to rack up a ton of charges in the first five days.

Have people still been getting the 5x offer? I haven't heard about it recently and the last person I referred (June) didn't get it.

I didn't get the 5x offer when I changed from Evolve to WF.

No idea. Maybe it was silently killed or cut back? WF would probably be thrilled if the card was less appealing if it helps curtail their losses.

Bilt just raised $150 million in equity funding, according to Bloomberg. The gravy train just might continue.

Friend got that offer on new card last month

Paid my $600 semi-annual car insurance bill yesterday, and realized this was the last time I'll even be able to get full Rent Day credit on that kind of purchase, to say nothing of the normal-priced meals I bought and the one Lyft ride I took. Maybe 10,000 points was an amount they could've cut down, but capping it at 1,000 points will absolutely disincentivize a lot of spend on my card; that insurance payment will never again be made on the Bilt card, for example.

You're capped at 1000 bonus points, not 1000 points. Your insurance payment on rent day is 600 bonus points, 1200 total.

Math is...not my specialty. Thank you!