Bilt Rewards’ Elite Status Program: How It Works

Link: Apply for the no annual fee Bilt Mastercard®

I’ve written extensively about the Bilt Mastercard® (review), which is an innovative and rewarding credit card. The greatest selling point of the card is that you can earn points for paying your rent (and anecdotally your HOA as well). Best of all, the points are quite valuable, which is also why this is a card that I applied for.

In this post I wanted to focus on Bilt’s elite status program, especially as some major changes were made to this as of 2024, including the introduction of Milestone Rewards. Bilt elite status offers some unique perks, like paying you interest on your points balance, plus access to better promotions. Let’s take a look at how that works.

How to earn Bilt elite status

Bilt has four membership tiers — Blue, Silver, Gold, and Platinum. New as of 2024, you can qualify for Bilt elite status in one of two ways:

• Based on qualifying points, which would include all the Bilt points that you earn, regardless of the method
• Based on spending, whereby you can fast track your way to elite status with all eligible non-rent spending, including Bilt Mastercard spending, spending on SoulCycle classes booked in the Bilt app, spending on Lyft rideshares when Bilt is set as your rewards partner, and spending in the Bilt Travel Portal

Just to be crystal clear, with the latter method, earning status is literally based on the cumulative spending via all these means, rather than the number of points earned.

So, what are the elite requirements for 2024?

• You can earn Bilt Silver status with 50,000 qualifying points or $10,000 of eligible spending
• You can earn Bilt Gold status with 125,000 qualifying points or $25,000 of eligible spending
• You can earn Bilt Platinum status with 200,000 qualifying points or $50,000 of eligible spending

I also want to acknowledge that this new method of qualification is very different than the system we saw up until 2023, and for most people, status is harder to earn than before. Prior to this, status was earned exclusively based on how many points you racked up, regardless of the method. The requirements were (but no longer are) as follows:

• Bilt Silver status could be earned by accruing 25,000 points
• Bilt Gold status could be earned by accruing 50,000 points
• Bilt Platinum status could be earned by accruing 100,000 points

Status is valid for the year in which it’s earned, plus through the end of the following year. In other words, status earned in 2024 would be valid through December 31, 2025.

The benefits of Bilt elite status

So, what are the perks of having elite status with Bilt? Below is a chart comparing the tiers, and then I’ll talk more about each perk below.

I’ll be ranking the perks roughly in the order that I personally value them, though admittedly we’re all looking for different things.

Access to better Rent Day promotions

Ironically the best perk of elite status is something that isn’t even published. On the first day of every month, Bilt has a Rent Day promotion. In addition to earning up to double points on purchases, there’s also an additional promotion each month.

Bilt Rent Day promotions are often differentiated based on elite status. For example, for the January 2024 Rent Day promotion, there was a transfer bonus to three programs, while for the February 2024 Rent Day promotion, there was a transfer bonus to one program.

Blue member received a 75% bonus, Silver members received a 100% bonus, Gold members received a 125% bonus, and Platinum members received a 150% bonus. If we continue to see such huge differentiation between the tiers, then going for Bilt elite status could prove to be a big motivator.

Air France-KLM Flying Blue Gold status

Bilt Platinum members receive Air France-KLM Flying Blue Gold status, which also earns you SkyTeam Elite Plus status. In order to activate this offer, you need to transfer 10,000 points to Flying Blue. The status match is valid for 12 months, though it should be possible to do this again in the following year, as there’s no end date for this offer.

It’s awesome to get SkyTeam Elite Plus status through Bilt. This gets you all kinds of priority services across SkyTeam airlines, lounge access on international itineraries, and more. Furthermore, when flying with Air France-KLM, you can assign seats for free, and can even select the bulkhead seats in Air France’s new business class, which I’d consider to be the best business class seats in the world.

Bilt Milestone Rewards perks

While you earn elite status at 50,000, 125,000, or 200,000 points, Bilt offers additional Milestone Rewards for every 25,000 point thresholds you pass where you don’t earn elite status. That means you can earn additional rewards at 25,000 points, 75,000 points, 100,000 points, 150,000 points, 175,000 points, 225,000 points, and beyond. However, definitely don’t get too excited about these benefits.

When earning 25,000 points in a calendar year, Bilt members can select one of the following:

• Double points on Bilt Dining for seven days, up to 1,000 points
• 1,000 points for the Bilt Collection
• 2x points at grocery stores for 30 days, up to 1,000 points
• 2x points at gas stations for 30 days, up to 1,000 points
• 2x points on sports and concert tickets for 30 days, up to 1,000 points

When earning 75,000 points in a calendar year, Bilt members can select one of the following:

• Double points on Bilt Dining for seven days, up to 1,000 points
• 1,000 points for the Bilt Collection
• 2x points at grocery stores for 30 days, up to 1,000 points
• 2x points at gas stations for 30 days, up to 1,000 points
• 2x points on sports and concert tickets for 30 days, up to 1,000 points
• 10x points on your next three Lyft rides, on up to $25 of spending
• 2x points on digital wallet purchases for seven days, up to 1,000 points

When earning 100,000 points in a calendar year, Bilt members can select one of the following:

• Double points on Bilt Dining for seven days, up to 1,000 points
• 1,000 points for the Bilt Collection
• 2x points at grocery stores for 30 days, up to 1,000 points
• 2x points at gas stations for 30 days, up to 1,000 points
• 2x points on sports and concert tickets for 30 days, up to 1,000 points
• 10x points on your next three Lyft rides, on up to $25 of spending
• 2x points on digital wallet purchases for seven days, up to 1,000 points
• Get 5,000 points closer to the next status tier

When earning 150,000 points in a calendar year, Bilt members can select one of the following:

• Double points on Bilt Dining for seven days, up to 1,000 points
• 1,000 points for the Bilt Collection
• 2x points at grocery stores for 30 days, up to 1,000 points
• 2x points at gas stations for 30 days, up to 1,000 points
• 2x points on sports and concert tickets for 30 days, up to 1,000 points
• 10x points on your next three Lyft rides, on up to $25 of spending
• 2x points on digital wallet purchases for seven days, up to 1,000 points
• Get 5,000 points closer to the next status tier
• $10 toward your next fitness class

When earning 175,000 points in a calendar year (or 225,000 points and beyond), Bilt members can select one of the following:

• Double points on Bilt Dining for seven days, up to 1,000 points
• 1,000 points for the Bilt Collection
• 4x points at grocery stores for 30 days, up to 3,000 points
• 4x points at gas stations for 30 days, up to 3,000 points
• 2x points on sports and concert tickets for 30 days, up to 1,000 points
• 10x points on your next three Lyft rides, on up to $25 of spending
• 2x points on digital wallet purchases for seven days, up to 1,000 points
• Get 5,000 points closer to the next status tier
• $10 toward your next fitness class

You’ll see the option to select these through the Bilt app and website, and you have to make your selection before the end of the calendar year in which the rewards are earned.

Earn interest on your points balance

Bilt has a unique feature that you won’t find with any other points loyalty program. Silver, Gold, and Platinum members earn interest on their points, giving them an incentive to keep their points. Every month, members will be paid interest in the form of additional points based on their average daily points balance for the previous 30-day period. The rate is based on the FDIC published national saving rates, which are published here.

Let me just say that while I love the idea of this, don’t get too excited. The FDIC savings rates don’t offer competitive interest to what’s out there in the market otherwise (like with Bask Bank). For example, when your balance is in the tens of thousands of points, you can expect to maybe get a couple of dozen points monthly.

I very much appreciate the concept of this, and I won’t say no to free points, but this isn’t a reason to maintain your points balance.

Complimentary Bilt Collection gift

Upon reaching Platinum status, Bilt members can receive a gift from Bilt Collection, featuring a curated assortment of home decor and art. The exact gift will differ based on the person, but expect it to be something along the lines of a coffee table book.

Bonus points on new lease or lease renewals

Bilt Silver, Gold, and Platinum members can receive bonus points on new leases or renewals. Specifically, Bilt will deposit up to 50% bonus points on top of points issued by landlords to members when they live at Bilt Rewards Alliance properties.

Bilt home ownership concierge

Bilt Gold and Platinum members who redeem Bilt points toward a down payment on a home purchase can use a dedicated concierge to walk them through the home buying process step-by-step. Maybe that’s something that some people value, though it is pretty niche, if you ask me.

Bottom line

Bilt has a unique elite status program for those with the Bilt Mastercard. Status is based on how many points you rack up in a calendar year. I love the idea of a credit card with elite status based on how many points you earn, since it gives you an incentive to spend more on the card.

While the published benefits of Bilt status aren’t life-changing, this has proven to be increasingly valuable. In particular, the better Rent Day promotions for elite members has been a game-changer, especially the larger transfer bonuses. On top of that, it’s awesome that Platinum members get Flying Blue Gold status. Lastly, it’s kind of cool to receive interest on your points balance (even if it’s not much), plus a gift when you reach Platinum status.

If you have elite status with Bilt, what has your experience been like?