Bilt members can now redeem points for Lyft rides. Unfortunately you only get 0.7¢ per point in value so it’s not really worth considering due to the fact that Bilt points transfer to travel partners at a 1:1 rate.
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I still don’t get the hype over this card… Paying with cashback debit does the same thing?
Good sir, the ‘hype’ is earning 1x points on rent (and other applicable payments). There used to be other benefits, but for now, that’s basically it. And the fact that you can transfer to Hyatt, (previously, American), Alaska, and United (but, seriously, like, the other transfers are practically ‘trash’). Realistically, in its current state, it’s days are numbered as Wells has lost too much money on it.
The x1 may be irrelevant if one does not assume they can get 2cpp+ from the transfer partner. Otherwise a cb debit could earn more.
The real question for Sad Dazy In USA is if the cb on the debit purchase is uncapped. I haven’t seen a cb debit offering more than 1% that isn’t capped under 1k.
Also you’d have to make sure that your rent portal only charges a flat fee for debit. Other people aren’t that fortunate, so Bilt it is.
This is a wonderful way to redeem points! So much better than Hyatt (which costs us, I mean, BILT, 2+ cents per point)!
Don’t encourage them, just say no to exploitation.
I fully support double-d.
I mean, if you’re already sitting on plenty of points with the partners you care about from their co-branded credit cards, might the Lyft redemption be worth doing?
If you’re braindead, sure, why not. But, if you have any self-respect, no. Nope. Never. BILT points should be worth at least 2 cents per point. To redeem for 0.7 cents per point is nearly a 1/3 value proposition. Please, save yourself.
If you care only about value proposition, you’d have to do the math on what it’s worth doing Lyft over any other partners as you’ll likely need points in the future if you’re frequenting them that often. If you only care about convenience, do whatever you’d like. John’s response was a bit harsh, but if you see value in that do it.
Sorry if I offended either of you–it’s the internet, folks are much harsher than I.
(Obviously, both your brains are literally still functioning–otherwise, you would not be able to read or type.)
And yes, you absolutely ‘can’ redeem BILT points with Lyft–However, objectively, under nearly all circumstances, it’s a ‘bad’ deal, per the basic math above.
1. Spend money with BILT.
2. Redeem for Lyft
3. Get Delta SkyMiles from Lyft
4. ???
5. PROFIT
(This is a joke I have no idea if 2-3 works like that.)
Wrong!
(also joking)
When I got the notification for this and opened my Lyft App, I immediately disabled it because it’s a joke redemption rate.
When ‘caveat emptor’ anti-CFPB champion avsterbone is calling this out as rubbish, then you know it’s a scam of a redemption. We agree on very little, but we agree here.