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Bilt Palladium Card (See rates and fees)
Even though I can’t start using it until February 7, my card arrived. I ordered the limited-edition mirror card and it’s gorgeous, though I suppose that’s not surprising since American Express has offered a mirror version of its Platinum card since late summer. It really is a mirror:
It comes as a nice package, but in an envelope and not a box, and I was surprised to see it didn’t come with all of the usual paper waste that I get with most cards. No real marketing materials or benefits explanations, either, reinforcing what you likely already know (since it’s why you got the card in the first place). Authorized user cards are being sent separately, by the way.
This $495 annual fee card earns 2X points on everyday spend and you can choose to earn 4% back in Bilt Cash on everyday spend. You then use Bilt Cash to unlock point earnings on rent and mortgage payments with no transaction fee, up to 1X.
- Welcome bonus (subject to approval): 50,000 Bilt Points + Gold Status after spending $4,000 on everyday purchases in the first 3 months + $300 of Bilt Cash.
- Benefits include a $400 Bilt Travel Hotel credit (applied twice a year, as $200 statement credits, for qualifying Bilt Travel Portal hotel bookings) and $200 Bilt Cash (awarded annually, and note that at the end of each calendar year, any Bilt Cash balance over $100 will expire), along with a Priority Pass ($469/year value, see guide to benefits).
I’m actually really excited about Bilt Cash which is a way of rationing benefits to give you the things you actually want instead of giving everyone the same things (spending for things many don’t value).
While I’m going to first use mine to cover earning points on housing, and then to earn an additional 5,000 points per $5,000 spend (up to 5 times annually), I’m also looking forward to redeeming for Blade helicopter transfers and bigger points transfer bonuses.
At 3.3 points earned per dollar spent (up to 75% of your housing payment each month, if you choose this strategy) and points worth 1.25 cents apiece spent through their travel portal, you’re getting a 4.125% rebate on spending. And I actually think points transfers are even better, even though Bilt’s portal is actually good.
You can now transfer Bilt Rewards points to 23 different partners, which outpaces Chase Ultimate Rewards, Capital One, and American Express:
- Star Alliance: Air Canada Aeroplan, Turkish Miles & Smiles, United Airlines MileagePlus, Avianca LifeMiles, TAP Air Portugal Miles&Go
- oneworld: Cathay Pacific Asia Miles, Alaska Airlines Mileage Plan, Iberia Plus, British Airways Club, Japan Airlines Mileage Bank, Qatar Airways Privilege Club
- SkyTeam: Air France KLM Flying Blue, Virgin Atlantic Flying Club
- Non-alliance: Emirates Skywards, Southwest Airlines, Aer Lingus Aer Club, Etihad Guest, Spirit Airlines Free Spirit
- Hotels: World Of Hyatt, IHG One Rewards, Marriott Bonvoy, Hilton Honors, Accor ALL – Accor Live Limitless
As a Bilt Gold (comes with the card the first year after earning the initial bonus) I’ve most often seen Rent Day transfer bonuses offered at 75%, but as we know from the first transfer bonus with Bilt Cash available you can spend Bilt Cash for an additional 25% bonus on top of that (as a Bilt Platinum, I could spend to go from a 100% to 125% bonus). At a 125% bonus, on 3.3 points per dollar, and with a 1:1 transfer partner that lands potentially at 7.425 points per dollar on general spend which is amazing. I’m really looking forward to getting started with the card.
Hard Pass. too complicated for the average person. Only good for Points Gamers Pro edition peeps
Nice picture!
Here’s a positive thing that’s been underreported that has a big implication on the higher spending scenarios. This week they clarified how you earn Bilt status points and updated their FAQ. You earn $50 in Bilt Cash for every 25,000 Bilt Points earned toward elite status. “Qualifying points include all points earned in a calendar year from both rent and non-rent spend, including points unlocked by redeeming Bilt Cash for rent or mortgage payments.” So if you have $50k in housing costs and unlock 50k Bilt Points, you’re getting another $100 in Bilt Cash. Even better, the 2x counts as 2x status points. Likewise if the accelerator is active, the 3x counts as 3x status points. So if you spend $50k on the card with the accelerator active, that’s 125k Bilt Points (25×3 and 25×2) and an extra $250 in Bilt Cash! (When I previously inquired about this, points unlocked from housing spend did not count, and you only got status points on the spend -so if you spent $50k you’d get 100k bilt points at 2x but only 50k status points / $100 in Bilt Cash.)
Look – they literally are changing this stuff on a daily basis, so let’s see how things work in practice beginning February 7. But if this is / continues to be true, it massively reduces the amount of spend needed to unlock the housing points, and dramatically increases the 3.33x return that you’re getting. It makes this… very, very not uncompelling.
the fact they are changing things on a daily basis is the concerning part. Once they realize they still cant afford these. benefits they will be reduced
Wait… the limited edition mirror finish is basically just an Amex Platinum knock-off? Meh, at least our thot leader is lookin’ fine in that reflection. Respect.
@Peter — You hit the nail on the head: “they literally are changing this stuff on a daily basis” which is to say even their own word is unreliable. I’m done speculating, too; we’re so close to February 7 anyway. As ‘Papa Bear’ Bill O’Reilly once said, “F-it! Do it live!”
Looking forward to tomorrow’s post on how Gary woke up dreaming about seeing his reflection in the Palladium and needed to look at it for hours in the middle of the night.
Looking sharp, Gary. Eagerly awaiting @Ken A’s ideas of what fun stuff one can do with both a BILT and Amex Plat mirrored card and give me fomo
@1990 — True, a black/dark mirror would’ve been cool – enjoy when yours arrives!
“While I’m going to first use mine to cover earning points on housing, and then to earn an additional 5,000 points per $5,000 spend (up to 5 times annually…) I said the same thing on Reddit, and people thought I was dumb! The marketing on the card is one thing, but the competing advice can also get frustrating.
@L737 — Kinky!
(USPS alert suggests TODAY!)