Here’s some news that has gone under the radar this morning: Starting October 1, 2024, Bilt will limit double Rent Day rewards to just 1,000 points per month.
Bilt Double Rent Day rewards explained
If you’re unfamiliar with Bilt’s Rent Day promotion, here’s the gist: On the first of every month, members earn double rewards on Bilt Mastercard spending. This bonus was previously limited to 10,000 points, so the reduction to 1,000 points is pretty significant.
The Bilt Mastercard earns 3X points on dining, 2X on travel and 1X on rent payments (up to 100,000 per calendar year). All other qualifying purchases earn 1X points. These rewards are doubled every Rent Day (except 1X on rent), which was incredibly lucrative.
Bilt is likely lowering the limit on double Rent Day rewards due to the resulting abuse. I can only imagine people took full advantage of the 2-6X bonus to pre-pay bills, do some retail arbitrage, buying groups and other manufactured spending activities.
Note: If you decide to apply for a Bilt Mastercard, consider using my referral link. I’ll receive 2,500 bonus points for every successful referral (thanks in advance!).
Is this a big deal?
But if you’re a big spender and were using double Rent Day rewards to maximize big purchases, you’ll be disappointed by the 1,000-point limit. The good news is the new limit won’t go into effect until October 1. So you can take advantage of the 10,000-point cap for three more Rent Days before it drops to 1,000 points.
I personally try to use mine on Rent Day to earn more points and knock out the monthly five-transaction requirement. The cap is disappointing but considering I don’t usually spend more than $100-$500 anyway, it won’t make much of a difference to me.
I think most people don’t spend enough to max out the current 10,000-point bonus (at least not without some manufactured spending). So the 1,000-point limit won’t negatively impact most consumers. But is it still a bummer? Yeah.
All good things must end, so if you approach this hobby with that mentally, little will bother you. That’s why I’m probably the only person unbothered by Southwest’s new assigned seating policy. C’est la vie.
HT: Reddit
Featured image by Anna Shvets via Pexels.
