Bilt Rewards members can presently earn elite standing within the Bilt Rewards program based mostly on the variety of factors earned inside a calendar 12 months. However, efficient Jan. 1, 2024, Bilt Rewards is altering how its members can earn elite standing. This is what we all know.
How does Bilt Rewards elite standing presently work?
Bilt Rewards gives three elite standing tiers — Silver, Gold and Platinum — plus a non-elite tier known as Blue for members with out standing. By the top of 2023, you possibly can earn elite standing with Bilt Rewards based mostly on the variety of factors you earn inside a calendar 12 months. Throughout 2023, Silver standing requires 25,000 factors, Gold standing requires 50,000 factors, and Platinum standing requires 100,000 factors.
All Bilt Rewards members get entry to 1:1 switch ratios for the Bilt switch companions. However this is a have a look at the advantages of every Bilt Rewards standing tier:
| Blue | Silver | Gold | Platinum | |
|---|---|---|---|---|
| Bonus factors on new leases or renewals for members residing within the Bilt Rewards Alliance | No | 10% | 25% | 50% |
| Earn curiosity on factors | No | Sure | Sure | Sure |
| Assist from a devoted home-buying concierge in the event you redeem Bilt Factors towards a downpayment on a house | No | No | Sure | Sure |
| Complimentary Bilt Assortment present upon reaching standing | No | No | No | Sure |
In the event you earn a standing tier between Jan. 1 and June 30, you may hold it by way of Jan. 31 of the next 12 months. However in the event you earn a standing tier between July 1 and Dec. 31, you may hold it by way of Dec. 31 of the next 12 months.
As such, Bilt Rewards is drastically growing the factors it’s worthwhile to earn inside a calendar 12 months to earn elite standing. Concerning this improve, a Bilt Rewards e-mail assertion to TPG learn:
Tier changes had been vital due to all of the methods to earn Bilt Factors that did not exist 2.5 years in the past. At the moment, we now have double factors on Hire Day, incomes 10X factors on health courses, as much as 2X on the Bilt Rewards journey portal, as much as 10X on Bilt Eating and as much as 5X factors on Lyft rides.
Associated: Why I like my Bilt Mastercard as a renter in the most costly metropolis within the US
2024 Bilt Rewards elite standing necessities
Beginning in 2024, Bilt will supply two pathways to elite standing: factors and spending. This is what number of factors or spending you may have to earn Bilt Rewards elite standing through the 2024 calendar 12 months:
| Qualifying factors | Qualifying spend | |
|---|---|---|
| Blue | 0 | $0 |
| Silver | 50,000 | $10,000 |
| Gold | 125,000 | $25,000 |
| Platinum | 200,000 | $50,000 |
As famous within the above chart, you may additionally be capable of qualify for Bilt Rewards standing beginning in 2024 based mostly on spending. Listed below are the sorts of spending that can depend:
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Most Bilt Rewards members will doubtless earn standing by way of spending, not factors, in 2024.
For instance, paying $3,000 in lease along with your Bilt Mastercard® every month would allow you to earn 36,000 factors per 12 months on lease. This implies you’d have to earn 89,000 extra factors to snag Gold standing, which you would earn by making about $30,000 in eating purchases along with your Bilt Mastercard. However you’d have already got reached Gold standing after spending $25,000 along with your card on non-rent purchases (not simply eating) on this case. And chances are you’ll attain Gold standing even sooner by way of different certified spending.
Bilt Rewards can be launching a milestone rewards program to offer members additional perks for each 25,000 factors they earn.
Associated: Must you use the Bilt Mastercard? Why it is a sport changer for renters
Backside line
In case you are a Bilt Rewards member, you have doubtless obtained (or will quickly obtain) an e-mail from Bilt about these modifications. As of but, Bilt Rewards elite standing hasn’t offered many perks to members apart from occasional status-based switch bonuses on Bilt Hire Day. Nevertheless, a press release we obtained from Bilt Rewards hinted that elite members will see extra perks quickly.
The modifications to the way you qualify for Bilt Rewards elite standing could finally encourage you so as to add the Bilt Mastercard® to your pockets or make extra qualifying purchases inside the Bilt Rewards ecosystem. However till we study extra about new perks for particular Bilt Rewards standing tiers, I would not get too caught up in planning to achieve a particular standing tier in 2024. Nevertheless, it might be value incomes the next Bilt Rewards standing earlier than the top of 2023 in the event you’re nearing the following factors threshold.
For charges and costs of the Bilt Mastercard, click on right here.
For rewards and advantages of the Bilt Mastercard, click on right here.
