Quick Tips
Bilt is Having a Big Week – Southwest, Student Loans, and More
I’ve been writing about Bilt for years now and they’ve always kept me happily busy with content. But this week, things have been on overdrive. In the past few days, they’ve unveiled a unique new point redemption option, added a major travel transfer partner, and announced a Rent Day bonus for said transfer partner — all while ramping up their expansion into mortgage payments as well. So please indulge me as I break this all down.
What’s really funny is that this crazy Bilt week actually started over the weekend. That’s when reports surfaced, suggesting that some users had noticed a Japan Airlines transfer option popping up on their dashboard before later being removed. Thus, I was expecting official word on this addition to come during the week but, as of Friday morning, no such luck.
Instead, the first news arrived on Wednesday when Bilt announced that members could now redeem their points toward student loan payments. For the time being, this is limited to five servicers, but is expected to expand. Notably, this option values points at 1¢ each, which bests other cash/cash equivalent options for Bilt Points, such as rent payments, statement credits, gift card purchases, or Amazon redemptions. Personally, I think this addition is a brilliant and unique move on Bilt’s part — even if I honestly have no idea how many customers want to cash in their “fun money” credit card points for something so practical.
Thursday then brought word that a new transfer partner was joining Bilt — but it wasn’t JAL, it was Southwest Airlines. Now, members can transfer Bilt Points to Southwest Rapid Rewards at a rate of 1:1. This is a pretty big get as the only other credit card currency Southwest partners with currently is Chase (which also issues its co-branded cards). That said, I know Rapid Rewards aren’t exactly a favorite among point and miles enthusiasts, but I still think this is a good option for certain travelers… even with Southwest’s current brand upheaval.
Anyway, that brings us to today, when Bilt revealed its Rent Day offer for May 2025. As one might expect, fresh off news of the Southwest partnership, the airline is in the spotlight for this month’s deal. On May 1st, members can earn up to 100% transfer bonus when sending Bilt Points to Rapid Rewards — which would make the rate 1:2. Of course, as has become the norm, the size of this bonus will depend on your Bilt status. Here’s how it shakes out:
- Blue (Entry level): 25% bonus
- Silver: 50% bonus
- Gold: 75% bonus
- Platinum: 100% bonus
As a reminder, Bilt Points must be transferred in increments of 1,000. Plus, if you’re a Blue member, you’ll need to transfer a minimum of 2,000 points (higher tiers have a 1,000 point minimum).
Going back a bit, what also stuck out to me about the Southwest announcement is that the press release continually used the phrase “housing payments” rather than “rent.” That’s because Bilt is looking to add mortgage payment rewards as well — which is great news for me as a homeowner. I’m not sure how close this update is, but seeing this shift in nomenclature makes me think it must not be too far off.
Even if I may not like every change that Bilt has made and am not sure about some of the different card options they previously teased, there’s no doubt that they’re still one of the most interesting personal finance entities to write about these days. This week really only reinforced that, as news about the product came fast and furious. Still, I’m already itching to learn more about what Bilt Rewards has in store for the future.
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