{"id":63677,"date":"2023-12-22T14:00:03","date_gmt":"2023-12-22T14:00:03","guid":{"rendered":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/12\/22\/bilt-rewards-announces-major-updates-to-its-elite-status-program-the-points-guy\/"},"modified":"2023-12-22T14:00:03","modified_gmt":"2023-12-22T14:00:03","slug":"bilt-rewards-announces-major-updates-to-its-elite-status-program-the-points-guy","status":"publish","type":"post","link":"https:\/\/entertainment.runfyers.com\/index.php\/2023\/12\/22\/bilt-rewards-announces-major-updates-to-its-elite-status-program-the-points-guy\/","title":{"rendered":"Bilt Rewards announces major updates to its elite status program – The Points Guy"},"content":{"rendered":"


\n<\/p>\n

\n

Bilt Rewards members can currently earn elite status in the Bilt Rewards<\/a> program based on the number of points earned within a calendar year. But, effective Jan. 1, 2024, Bilt Rewards is changing how its members can earn elite status. Here’s what we know.<\/p>\n

<\/p>\n

How does Bilt Rewards elite status currently work?<\/h2>\n

Bilt Rewards offers three elite status tiers \u2014 Silver, Gold and Platinum \u2014 plus a non-elite tier called Blue for members without status. Through the end of 2023, you can earn elite status with Bilt Rewards based on the number of points you earn within a calendar year. During 2023, Silver status requires 25,000 points, Gold status requires 50,000 points, and Platinum status requires 100,000 points.<\/p>\n

All Bilt Rewards members get access to 1:1 transfer ratios for the Bilt transfer partners<\/a>. But here’s a look at the benefits of each Bilt Rewards status tier:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
\nBlue<\/strong><\/th>\nSilver<\/strong><\/th>\nGold<\/strong><\/th>\nPlatinum<\/strong><\/th>\n<\/tr>\n<\/thead>\n
Bonus points on new leases or renewals for members living in the Bilt Rewards Alliance<\/td>\nNo<\/td>\n10%<\/td>\n25%<\/td>\n50%<\/td>\n<\/tr>\n
Earn interest on points<\/a><\/td>\nNo<\/td>\nYes<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n
Help from a dedicated home-buying concierge if you redeem Bilt Points toward a downpayment on a home<\/td>\nNo<\/td>\nNo<\/td>\nYes<\/td>\nYes<\/td>\n<\/tr>\n
Complimentary Bilt Collection gift upon reaching status<\/td>\nNo<\/td>\nNo<\/td>\nNo<\/td>\nYes<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

If you earn a status tier between Jan. 1 and June 30, you’ll keep it through Jan. 31 of the following year. But if you earn a status tier between July 1 and Dec. 31, you’ll keep it through Dec. 31 of the following year.<\/p>\n

As such, Bilt Rewards is drastically increasing the points you need to earn within a calendar year to earn elite status. Regarding this increase, a Bilt Rewards email statement to TPG read:<\/p>\n

Tier adjustments were necessary because of all the ways to earn Bilt Points that didn’t exist 2.5 years ago. Today, we now have double points on Rent Day, earning 10X points on fitness classes, up to 2X on the Bilt Rewards travel portal, up to 10X on Bilt Dining and up to 5X points on Lyft rides.<\/em><\/p><\/blockquote>\n

Related: Why I love my Bilt Mastercard as a renter in the most expensive city in the US<\/a><\/strong><\/p>\n

<\/p>\n

2024 Bilt Rewards elite status requirements<\/h2>\n

Starting in 2024, Bilt will offer two pathways to elite status: points and spending. Here’s how many points or spending you’ll need to earn Bilt Rewards elite status during the 2024 calendar year:<\/p>\n

\n
\n\n\n\n\n\n\n\n\n
\nQualifying points<\/strong><\/th>\nQualifying spend<\/strong><\/th>\n<\/tr>\n<\/thead>\n
Blue<\/strong><\/td>\n0<\/td>\n$0<\/td>\n<\/tr>\n
Silver<\/strong><\/td>\n50,000<\/td>\n$10,000<\/td>\n<\/tr>\n
Gold<\/strong><\/td>\n125,000<\/td>\n$25,000<\/td>\n<\/tr>\n
Platinum<\/strong><\/td>\n200,000<\/td>\n$50,000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/div>\n

As noted in the above chart, you’ll also be able to qualify for Bilt Rewards status starting in 2024 based on spending. Here are the types of spending that will count:<\/p>\n

<\/picture>\n
\n

Daily Newsletter<\/p>\n

Reward your inbox with the TPG Daily newsletter<\/p>\n

Join over 700,000 readers for breaking news, in-depth guides and exclusive deals from TPG\u2019s experts<\/p>\n<\/div>\n<\/div>\n

Most Bilt Rewards members will likely earn status via spending, not points, in 2024.<\/p>\n

For example, paying $3,000 in rent with your Bilt Mastercard\u00ae<\/a><\/span> each month would let you earn 36,000 points per year on rent. This means you’d need to earn 89,000 more points to snag Gold status, which you could earn by making about $30,000 in dining purchases with your Bilt Mastercard. But you’d already have reached Gold status after spending $25,000 with your card on non-rent purchases (not just dining) in this case. And you may reach Gold status even sooner via other qualified spending.<\/p>\n

Bilt Rewards is also launching a milestone rewards program to give members extra perks for every 25,000 points they earn.<\/p>\n

Related: Should you use the Bilt Mastercard? Why it’s a game changer for renters<\/a><\/strong><\/p>\n

<\/p>\n

Bottom line<\/h2>\n

If you are a Bilt Rewards member, you’ve likely received (or will soon receive) an email from Bilt about these changes. As of yet, Bilt Rewards elite status hasn’t provided many perks to members besides occasional status-based transfer bonuses on Bilt Rent Day<\/a>. However, a statement we received from Bilt Rewards hinted that elite members will see more perks soon.<\/p>\n

The changes to how you qualify for Bilt Rewards elite status may eventually encourage you to add the Bilt Mastercard\u00ae<\/a><\/span> to your wallet or make more qualifying purchases within the Bilt Rewards ecosystem. But until we learn more about new perks for specific Bilt Rewards status tiers, I wouldn’t get too caught up in planning to reach a specific status tier in 2024. However, it may be worth earning a higher Bilt Rewards status before the end of 2023 if you’re nearing the next points threshold.<\/p>\n

For rates and fees of the Bilt Mastercard, click here<\/a>.<\/em>
For rewards and benefits of the Bilt Mastercard, click here<\/a>.<\/em><\/p>\n<\/div>\n


\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Bilt Rewards members can currently earn elite status in the Bilt Rewards program based on the number of points earned within a calendar year. But, effective Jan. 1, 2024, Bilt Rewards is changing how its members can earn elite status. Here’s what we know. How does Bilt Rewards elite status currently work? Bilt Rewards offers […]<\/p>\n","protected":false},"author":1,"featured_media":63678,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[15],"tags":[],"class_list":{"0":"post-63677","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-travel"},"_links":{"self":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/63677","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/comments?post=63677"}],"version-history":[{"count":0,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/posts\/63677\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media\/63678"}],"wp:attachment":[{"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/media?parent=63677"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/categories?post=63677"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entertainment.runfyers.com\/index.php\/wp-json\/wp\/v2\/tags?post=63677"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}