I could be wrong but I believe I read somewhere on the BILT site that you could not make mortgage payments. OP, It's a great card, I have a 25k limit.
(Formerly known as: Credit is my hobby (2M)/TCL objective)
@CreditCuriosity wrote:@12njoy correct per website says no but reddit says otherwise with many DP's.. If I can do my 3k mortgage @ 1% it is just free money each month/year then transfer out to Hyatt is my thoughts. If they ever crack down points would be transferred out every once in awhile is how i see it.
https://www.reddit.com/r/CreditCards/comments/1b8b9ox/bilt_credit_card_for_mortgages/?sort=new
Thanks CC. I did read that as well. I would be concerned that they may shut the card down for misuse. Not saying it would happen but that would be my concern.
@12njoy wrote:
@CreditCuriosity wrote:@12njoy correct per website says no but reddit says otherwise with many DP's.. If I can do my 3k mortgage @ 1% it is just free money each month/year then transfer out to Hyatt is my thoughts. If they ever crack down points would be transferred out every once in awhile is how i see it.
https://www.reddit.com/r/CreditCards/comments/1b8b9ox/bilt_credit_card_for_mortgages/?sort=new
Thanks CC. I did read that as well. I would be concerned that they may shut the card down for misuse. Not saying it would happen but that would be my concern.
To be fair, if you don't rent then the card is not great anyway. If you can sneak a few mortgage payments on it before they shut it down, that's not a bad return
@DaWhole9 wrote:I have it and use it for rent, a no brainer as you get cash back for paying rent, and also some cool travel perks. I got a healthy $30k SL. Ni complaints at all.
Awesome SL! Do you have any other WF accounts? What are some of your other CLs? I am considering it, and already have a 25K limit with WF.
@Pppoolboy wrote:The phrase "transfer partners" always makes me soil my shorts but, then again, I hate traveling.
Just be sure to do the math before you apply.
I'm big into transferring to travel partners. I went ahead and picked up a BILT card so will be interesting to see how it works out with my other cards.
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@Pppoolboy wrote:The phrase "transfer partners" always makes me soil my shorts but, then again, I hate traveling.
Just be sure to do the math before you apply.
I cashed in my BILT reward points to the tune of $200 - $300. I forget the exact amount but it was 71,000 points. Buyers remorse on that (point redemption). I recently got approved for the Virgin Red Rewards card and they have a partnership with BILT whereas the points transfer rate is 1:1. Well nothing I can do about that now
Just an update. I've been using my Bilt card to pay my rent via the app. They send the check to my landlord. No problems soo far. I'm rather pleased with this since I am earning travel partner points on rent. We will see how it looks at the end of the year and the types of redemptions I am able to workout. Still some money back is better than no money back.
I got 62,500 points from maxxing out the 5x/5 days promo and was able to transfer them to Hyatt. Supplemented with a UR transfer and booked at a nearly 4cpp valuation. That's not a typical redemption value (2.2x is more average) but it made the Bilt points portion worth $2,500. Not bad for $12,500 spend considering I hadn't even paid rent, the main draw of the card, with it yet.
Great card.