TLDR: There are many different ways you can use Bilt Cash, but it comes with a lot of restrictions and limitations. There are some winners, but overall, it just feels very complex. Stick with using your Bilt Cash to redeem against your rent for the simplest ratio: $0.03 Bilt Cash = 1 Bilt Point
I’m not sure… it’s a bit lukewarm.
On one hand, there’s some very explicit use cases of Bilt Cash that could be very useful. For instance, I could see myself getting very good value out of the:
On the other hand, there are so many useless credits (for me at least):
However, what I don't like about this is that Bilt Cash redemptions look to be another coupon book game. I don't want another coupon book right now, so if I have excess Bilt Cash, I may just use it for simple redemptions like Points Accelerators.
I'm zeroing in on the Points Accelerators. Why?
For $200 in Bilt Cash, you're basically going to earn an additional 5,000 points, at most (enables +1x bonus points on all everyday spend for the next $5,000 in spend).
This essentially means that you're "converting" your existing Bilt Cash into Bilt Points through additional spend. However, you have to remember that you earned that Bilt Cash through other spend methods as well, at a rate of 4% per $1 spent. So, you had to have spent $5,000 to get that $200 Bilt Cash already.
There is a significant opportunity cost with using this Points Accelerator method, since you could have spent that $200 in Bilt Cash elsewhere. If you chose to convert that into points against your rent, you'd have 6,666 points.
The new, explicit Bilt Cash redemptions finally bring some light into the murkiness of the Bilt Cash ecosystem. While there are some interesting redemptions, it will require a bit more thinking and evaluation to decide if Bilt Cash is the best redemption method out there.
Remember: you can avoid all the Bilt Cash craziness by electing to earn points via Option 1 instead.