Did Bilt Just Ruin Their Perfect Credit Card?

Did Bilt Just Ruin Their Perfect Credit Card?

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Hey credit Warriors welcome to the show And the built MasterCard has been one of The most popular credit cards of 2023 With constant upgrades special Promotions on their so-called rent day Which is the first of every month if you Don't know the bill card allows you to Pay rent to any landlord with the card And earn points on your rent payment if The landlord doesn't accept credit cards Or isn't enrolled in the built portal You pay built with your card and earn Points and they send a check to your Landlord on your behalf the card earns One point per dollar on everything Including rent two points per dollar on Travel and three points per dollar on Dining and that is doubled on the first Of every month on everything except for Rent so it's two points per dollar on Everything except rent four points per Dollar on travel and six points per Dollar on dining and on rent day the First of each month you often get Transfer bonuses to built Transfer Partners so for example last rent day we Saw up to a 150% bonus when you transfer To Emirates for platinum members and Lower bonuses for different tiers but Actually even the lowest tier blue which Is the one that anyone gets for signing Up to the program they got a 75% Transfer bonus that almost doubles the Value of your points but it seems that

The program may have been just a little Too good because built has made some Changes for 2024 for how you qualify for Different tiers of the program now don't Get too alarmed it's going to sound Extreme at first but there is something That kind of takes the edge off it a Little bit all right so first of all Here's how you qualif ify currently okay In 2023 for the current tiers silver you Have to earn 25,000 points in a calendar Year gold 50,000 points Platinum 100,000 Points and here is what that is changing To Silver 50,000 points or $10,000 in Non-rent spend gold 125,000 points or $25,000 in non-rent spend Platinum 200,000 points or $50,000 in non-rent Spent so you can see for most tiers they Have doubled the points requirements for Gold they've actually more than than Doubled it but they've also brought in The additional way to qualify and that Is from spending alone not taking into Account the points that you've earned Which I think for some depending on how You qualified before this may offer an Easier path now let's say you want to Get silver status so you need in the new System 50,000 points to qualify for Silver you could get that by spending $1 16,666 on dining at 3x but if you did That you would have already passed the $10,000 spend requirement And qualified anyway without spending

That extra 6,666 so many sixes I'm getting scared This is not a good number anyway on the Old program when it was 25,000 points That you needed if you wanted to get That all from dining spending at 3x You'd have to spend $833 on dining at 3x to get that 25,000 Points so for silver at least the Program hasn't change that much you're Only looking at about 1,700 more you Have to spend to get to 10,000 if you're Qualifying through spending now builts Say they have done this because there Are now more ways for you to earn points From the card versus when the card Launched I think it was 2 and a half Years ago you have rent days with double Points there's a travel portal there's a Dining program you get twox on lift Rides Etc so for me I don't think this Is going to be a deal breaker on the Card for the lower level statuses like Silver maybe even gold depending on how You qualify I mean it's pretty easy to Put $10,000 a year on a credit card for Middle income people but for platinum it Probably would be easier to qualify if It was just 100,000 points and they've Changed it to 200,000 points or $50,000 In non-rent spend that is a lot you're Talking about putting close to the Average household income on One credit Card in account a year I mean that's

That's a lot guys and remember the Points can come from rent and all other Sources but the spending can't okay it's Non-rent spending so I definitely think The Platinum would have been easier to Qualify for at 100,000 points using a Combination of points from rent and Other sources instead of this new 50,000 Points non-rent spend requirement but I Think they have done this because built Needs members to do more non-rent Spending on their carts in my Understanding they are probably losing Money on rent payments in order to Entice customers in and then they make a Profit on non-rent spending interest Certain fees Etc but this all relies on Customers not using their cards just for Rent this is also why build has a rule That you have to make a minimum of five Transactions per month in order to earn Any rewards now in addition to these Kind of negative changes there are Apparently some positive things coming Apparently there will be so-called Milestone rewards for every 25,000 Points you earn we're not sure what Those are going to be yet we'll let you Know when we do so in conclusion I think This is going to mostly affect people on The higher tiers in general it is Negative all right silver status remains Reasonably easy to qualify for but in General you know it's getting much

Harder to qualify through points they've Added in the spending amount spending Requirement which makes it a bit easier To qualify than if you were going to do It with points but it's still going to Be a little bit harder than before even With spent all right that's that's kind Of my take on it but I think it's going To vary depending on how you used to Qualify right if your rent payments you Know qualified you automatically every Year because your rent was pretty high And you'd earn 25,000 points like very Easily within a few months then this is Going to be very negative for you all Right but um if you were qualifying you Know your rent was perhaps cheaper and You were qualifying through a Combination of points earned from rent And points earned from spending uh you Might actually find it easier now okay You might be like wow I can put 10,000 On the card easy and get silver um but I Definitely think getting gold and even Platinum it's going to get progressively Harder as you go up okay than it used to Be but guys you got to ask yourself the Question as well though do you even Really need Platinum Status with built Because silver already gets you some Really great perks for example last time We saw a 100% bonus when transferring to Emirates just with silver okay so that Gets you actually 2/3 of the benefit

That Platinum would have got you Platinum got you 150% bonus when making That same transfer so actually the Silver benefits on the built card um Even the blue benefits are still great But anyway guys let me know in the Comments below what you think is this Going to make it considerably harder for You to get built status or maybe just a Little bit harder and it's not that big Of a deal for you I'd really love to Know what you think also if you do want To sign up for the built card you know Despite these negative changes it still Has a lot going for it it's the only Card that lets you earn points paying Any landlord out there so if you are Interested in it uh do click the link Below to check it out and learn more About it as always you know these are Affiliate links so if you want to Support our show at no extra cost to Yourself you can consider using our link And we thank you very much if you do as Always please subscribe to the channel If you're new and we'll see you in the Next video bye-bye

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1 Comment

  1. I wanted to express my gratitude for your insightful blog post. Your ability to break down complex topics into easily understandable content is commendable. Thanks for sharing your expertise!

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